British Business Bank’s second annual Nations and Region Tracker records the use of external finance falls in the East Midlands region
The British Business Bank’s second annual Nations and Region Tracker, published today, finds usage of external finance has fallen overall across the UK as nine out of the twelve regions saw a drop in use of small business finance.
Four in 10 (40%) businesses across the UK were using external finance in the four quarters to Q2 2022 compared to 42% a year earlier, with the East Midlands slightly below at 36%, substantially lower than the 47% usage a year prior. Core debt products remain the most used and widely available across the region.
Businesses in the East Midlands secured 50 deals worth £154m of equity investment in 2021. The value of equity deals increased by 92% compared to 2020, with the number of deals up 32%.
The Nations and Regions Tracker found that businesses in the most deprived areas of the UK are more open to using finance and report higher levels of ambition for growth, whilst facing greater challenges in accessing external finance.
Nearly half (49%) of businesses in the most deprived areas have a long-term ambition to be a significantly larger business, compared to 40% elsewhere. They are also more willing to use external finance to grow (36%) than businesses in less deprived areas (33%).
However, the report found that the growth ambitions of smaller businesses in the UK’s most deprived areas are being stifled because of a lack of access to finance. Just over nine per cent of firms in the East Midlands are based in the most deprived areas of England and Wales, making them more likely to face barriers to growth.
A quarter (26%) of smaller businesses in need of finance in deprived locations did not apply. Of those who did apply between 2020-21, 16% were turned down compared to just 11% elsewhere.
Dr Sophie Dale-Black, UK Network Director, Midlands at the British Business Bank, said: For a sustainable and prosperous economy in our region to continue to grow, we want to break down particular barriers to finance so that access to finance is a level playing field for all entrepreneurs – wherever they are, whatever their gender, whatever their ethnicity.
“We know external finance is an important tool for smaller businesses to promote growth and stability. The decline in external finance usage brings to life the various economic challenges smaller businesses are facing. It is therefore important that they know what finance options are available which we are committed to help them do.”
£6.5m National Stone Centre takes step forward as plans submitted
A detailed planning application for a £6.5m transformation of the National Stone Centre (NSC) near Wirksworth, Derbyshire that draws on influences from local rock formations for the building’s form, has been jointly submitted by the National Stone Centre and the Institute of Quarrying.
The proposed new National Stone Centre will embody strong references and links to the area’s geology and industrial heritage, including the overhanging rock formations found in local gritstone outcrops, such as Black Rocks and Stanage Edge.![]()
The plans have been developed in partnership with Wirksworth-based building design and consultancy practice Babenko Associates. A cantilevered structure will allow the building to emerge from the hillside and spring out of the ground reflecting the rock formations in a dynamic way.
Phase One of the project includes proposals for a 100 seater café/restaurant; four naturally lit classrooms with a combined capacity of 120 learners; 700m2 of museum/exhibition space; a souvenir shop; Changing Places facilities; a new thematic children’s playground; and a 1200m2 open-air circular piazza for community events.
James Thorne is Chief Executive Officer of the Institute of Quarrying, which has merged with the National Stone Centre. He says: “In 2021 the value of tourism to the Peak District and Derbyshire’s economy was estimated at £1.96 billion. A reimagined and reinvigorated National Stone Centre will bring new visitors, as well as providing a focal point for engaging the public, schools and colleges in the science, history, present and future of the quarrying and mineral products industry.
“We are delighted to have reached this point in the project, which makes everything feel so much more real. This planning application is the end result of over a year’s consultation and engagement with all of our stakeholders. We have listened and learned, taking on board feedback that has helped shape our application.
“We firmly believe that our plans represent an exciting moment in the history of the National Stone Centre, delivering a unique building that is both fit for purpose and inspiring for generations to come. It’s the home that such a significant collection deserves, as well as proudly representing what is now the largest manufacturing sector in the UK.”
Jo Dilley, Managing Director of Marketing Peak District & Derbyshire, says: “We’re proud to support the Institute of Quarrying’s exciting plans for the National Stone Centre near Wirksworth. These plans signal a positive step towards their goal of creating an extraordinary new centre of excellence that will not only attract visitors from across the UK but will also support local jobs and provide unique educational opportunities that will benefit both visitors and residents alike.
“As a valued Strategic Partner, the Institute of Quarrying shares our commitment to increasing the value of tourism and promoting the Peak District and Derbyshire as a sustainable, world-class destination. The National Stone Centre is a great public asset that will help deliver these goals and more – and securing its future is so important.”
Viv Russell, president, IQ, explains: “This is a once in a generation opportunity to create a hugely exciting new visitor centre that celebrates the extraordinary role that stone plays in all of our lives, to inspire the next generation and create a centre of excellence to develop the knowledge and skills of people in the industry today.”
The aim of the NSC is to be a centre of excellence, providing a national, regional and local base for aspects related to learning and innovation about stone and allied matters. The vision is to create a destination that the quarrying and minerals products industry can use to engage its employees and other stakeholders vital to the future of the sector.
Robert Shields DL, group chairman of Longcliffe Quarries Ltd – one of the largest independent employers in the mineral products sector and based in Derbyshire, adds: “Stone and quarrying have played an important role in the industrial heritage of this area, and continue to play a vital role in supporting the local economy of Derbyshire. The National Stone Centre is a fantastic facility which celebrates this. These plans are all about building on the value of an already important centre and enhancing the skills and innovation of our local economy as well as the wider industry.”
Through school visits to the NSC’s museum and exhibitions, the site helps children understand the science in geology, the natural environment and industrial heritage. The NSC provides an opportunity to inspire the future talent the quarrying and mineral products industry needs to remain competitive and innovative.
Professor Iain Stewart is patron of the NSC. He adds: “I’m hugely passionate about how stone has shaped our world today. Securing the future of the NSC for future generations to experience and enjoy is fantastic news.”
The National Stone Centre officially opened in 1990 to inspire people to engage with the origin, industry and the history of stone. It is set within six former limestone quarries on a 40 acre Site of Special Scientific Interest (SSSI).
Work starts to build student village energy and data hub at Loughborough University
Contractor Henry Brothers has started work on site to build a new energy and data hub for the student village at Loughborough University.
The £3.25m design and build project includes new mechanical and electrical infrastructure, external works and landscaping, housed in a single-storey building on Elvyn Way in the centre of the university’s student village.
It will provide a district heating and hot water scheme for the student accommodation and will replace Whitworth Tower, where the existing energy hub is located.
This is the latest in a number of developments that Henry Brothers has delivered for the university. The company is currently on site building the four-storey SportPark Pavilion 4 – the first Passivhaus development on the university campus.
Previously Henry Brothers successfully delivered the £30m refurbishment scheme of the W and S buildings, completed the £3.6m Towers dining facility, and was the contractor for the £17m STEMLab building, which opened in 2017.
Managing director of Henry Brothers Construction Ian Taylor said: “Over several years we have built a strong and successful partnership with Loughborough University, helping the university to upgrade and create new facilities. We are excited to have now started on site to build a new energy and data hub for the student village.”
Designed by David Morley Architects, the energy and data hub will sit into the natural slope of the land.
The work will be carried out in three phases to maximise construction during periods when students are not in residence and is due to be completed by September 2023.
Other members of the team include structural engineer Ridge & Partners, M&E consultants Axis and FPCR landscape architects.
Manufacturer unveils multi-million-pound heat pump production line at Belper factory
Vaillant, the manufacturers of environmentally friendly heating and air-conditioning technology, has lifted the lid on a new multi-million-pound heat pump production line.
At a ceremony held at its Belper factory, the firm officially opened the line, making it the first manufacturer to produce both heat pumps and high-efficiency boilers in the UK.
Marking a £4 million investment in the factory’s low carbon production capabilities, Vaillant said it reinforces its commitment to ensuring that all UK homes can be heated via the most effective technology.
Henrik Hansen, Managing Director of Vaillant Group UK & Ireland, said: “Vaillant has seen many ‘firsts’ in its nearly 150-year history, and I’m delighted to now be announcing the commissioning of the company’s new heat pump manufacturing line in the UK.
“It’s a huge testament to our incredibly talented and dedicated team, and their vision and commitment to taking the business forward, that we are celebrating this latest milestone.”
The new line was opened by John Forkin, Managing Director of Marketing Derby, and Pauline Latham, MP for Mid Derbyshire.
Mr Forkin said: “Vaillant is a well-known employer in this region, and it was fantastic to see first-hand how they are supporting the UK’s net zero agenda.
“This investment sustains a proud tradition of business innovation in the area and companies such as Vaillant are leading the way.”
With the Future Homes Standard legislation coming into force in 2025, the UK heat pump market continues to see year on year growth.
Vaillant has been producing heat pumps for the UK market since the early 2000s.
Its latest addition to the Belper plant furthers the company’s vast experience in innovation and developing industry-leading heating technologies and follows a £55 million investment in its research and development facility at its headquarters in Remscheid in 2018.
The new heat pump line will be dedicated to producing Vaillant’s aroTHERM Plus air-to-water heat pump.
Mr Hansen said: “We know there is no single solution when it comes to heating our homes in the UK as the breadth of property type is diverse.
“Heat pumps are a here and now technology that can offer decarbonisation benefits. However, the future is likely to be made up of a mix of heat pump, hybrid and boiler technologies.
“Ultimately, we want to help consumers feel in a position to make an informed choice about what will work for both their lifestyle and their property.
“The widescale need to transition to low carbon is a once in a generation occurrence.
“The popularity of heat pump technology is growing at pace and is expected to continue to do so as homeowners become comfortable with the workings of lower carbon heating systems.
“This important move means we can help increase the availability of UK made heat pumps and further our support for installers via supply, training and installation guidance, as they make the shift to new heating technologies.”
Mrs Latham said: “Vaillant’s announcement is a significant boost to kick-starting a heat pump manufacturing base in the UK, and I’m delighted that it is happening in my constituency of Derbyshire.
“Home heating contributes to around a third of all UK emissions, so the savings that can be made by moving to lower carbon, more efficient technologies, such as heat pumps, is much needed.”
Midlands real estate investment levels ahead of 10-year average
Direct investment into real estate assets in the Midlands is running well-ahead of the 10-year average for deal value, according to a new study.
The findings, from property services firm JLL, report that the total amount of capital invested in the East Midlands was up 13 per cent to £1.1bn and four per cent in the West Midlands to £1.5bn over the first nine months of 2022.
Nationally, deal values for UK real estate assets reached their highest levels since before the Brexit referendum this year owing to a strong first six months, but volumes have tapered as economic worries set in.
JLL found that that £40.4bn of capital was spent acquiring real estate over the first nine months of 2022.
Although this total is the highest since 2015, £29bn of this came during the first six months of the year with quarter three volumes down 13 per cent on the same period in 2021 and eight per cent below the third quarter 10-year average.
More than half (52 per cent) of asset purchasers over the first nine months of the year were based overseas, with Asia-Pacific (16 per cent) and the Americas (15 per cent) the regions accounting for the largest shares. Both regions invested more in the UK than their 10-year averages (12 per cent each).
On a country-by-country level, the US (£5.4bn), Singapore (£1.9bn) and Australia (£1.9bn) were the top individual investors by value.
Across the UK, offices accounted for the largest share of investment volumes at 37 per cent of all deals in the third quarter of this year (£15.1bn), with the living and industrial sectors both accounting for more than a fifth (21 per cent each).
Ben Kelly, director of capital markets at JLL in Birmingham, said: “The Midlands has always had a significant appeal with both UK and international real estate investors. Several key events this year have helped boost its standing, from the Commonwealth Games to the arrival of Goldman Sachs. Meanwhile, the market dynamics, especially in the region’s traditionally strong sectors like industrial, continue to drive attractive returns.”
Cameron Ramsey, UK research and strategy at JLL, added: “As our Transparency Index revealed earlier this year, the UK boasts several cities that are regarded as world leaders for transparency on data, regulations, and performance benchmarks for international investors, with Birmingham 10th globally.
“This foundation means major institutional investors, which have long-term horizons, will always consider UK real estate investment as an essential part of their portfolios.”
The Autumn Statement, perhaps it should have come with a health warning? By James Pinchbeck, partner, Streets Chartered Accountants
The Autumn Statement was the third fiscal statement from the Government in as many months, set against a background of rising inflation and an economic recession.
Our latest Chancellor of the Exchequer, Jeremy Hunt, with an expectation to last longer than his predecessor, sought to regain the confidence of the financial markets, gain the economic credibility of not just his party but that of the UK government across the world stage, as well as to create a stability for individuals and businesses. As he himself indicated prior to delivering his Budget, it was going to be no magic trick including rabbits or hats. Even the best magician was unlikely to conjure up a trick to impress or please a growing discontented and disillusioned audience.
In an attempt to reverse the damage and impact of the bungled mini Budget delivered by Kwasi Kwarteng under the premiership of Liz Truss, it would seem the majority of his announcements set out to reverse both their ‘ideology’ and as well as the changes to tax reliefs and financial interventions introduced.
For many, such steps would have perhaps seemed obvious, not least for the negative financial impact in one afternoon it achieved in terms of increasing both the governments level of borrowing along with the cost to servicing the national debt. That is aside of the impact it had on the cost of mortgages and the cost of living for individuals.
Only a few weeks ago we heard of plans for stimulating economic growth, with the rhetoric of ‘go big or go home’. With the UK economy now officially being in recession, Jeremy Hunt made little or no reference to growth. In fact it might be fair to say he did little to stimulate or encourage business growth, which perhaps is a very regrettable oversight. At best we can hope his budget at least provided the certainty businesses sought over the economic conditions in which they operate, whether we like them or not.
Perhaps holding off potential public spending cuts until after the next general election may help to lessen the impact of a recession.
Mr Hunt’s Budget not only saw the re-instatement of the proposed increase to corporation tax from 19% to 25% next April, but also the proposed introduction of Vehicle Excise Duty for electric vehicles from 2025, changes to R&D Tax credits, Stamp Duty Land Tax, Capital Gains Tax and Dividend Allowances – all are invariably less favorable for those to whom they apply.
The Chancellor also announced that the Income Tax additional rate threshold will be reduced from £150,000 to £125,140 with effect from 6 April 2023. This move will see an estimated 250,000 further taxpayers pay the additional rate of Income Tax of 45% from next April.
Then we come to ‘stealth taxes’ – a tax levied in a way that is largely unnoticed or might not be recognised as a traditional tax.
The Autumn Statement included a number of these by way of freezing the thresholds for the Personal Allowance, National Insurance Primary Threshold, Inheritance Tax and Residence Nil Rate Band.
Whilst September’s mini Budget perhaps created the feeling of a ‘sugar rush’, in terms of its tax giveaways, the Autumn Statement may well see many seeking more significant cures than a sugar rush as they grapple with an economic downturn and increasing costs of living from both a business and personal perspective.
Perhaps the Chancellor, a past Secretary of State for Health, should have made reference to the fact that his Autumn Statement may be going to hurt.
If you missed Streets Chartered Accountants’ post Budget webinar on Friday 18th November, you can access the recording here: https://my.demio.com/recording/oJuVaOve.
See, partner at Streets Whittles, Dan Insley’s thoughts on the Budget here in ‘The Autumn Statement – What it means to you‘.
Download the Streets Guide to the Autumn Statement 2022 here.
PDS snaps up 50,000 sq ft warehouse facility
Wellingborough-based print, design, and sourcing partner, PDS (Print Data Solutions Ltd), has acquired a 50,000 sq ft warehouse facility close to its HQ at Park Farm Industrial Estate.
PDS acquired the site in response to increased demand for storage capacity and to enable the business to scale its client stock and fulfilment operations with greater agility and flexibility in accordance with customer requirements.
The new warehouse can accommodate 5,000 pallets and provides access to over 1,500 pick faces.
Nick Shelton, Managing Director of PDS, said: “We are delighted to announce the launch of our new warehouse facility and trust that this acquisition will make doing business with PDS even easier as we can now offer more flexible solutions and provide access to space that will help our clients to improve their efficiency and achieve greater speed to market.
“Engaging with PDS as a warehouse partner helps clients to reduce their own capital investment and cut costs by sharing storage resources. The new facility also delivers an improved working environment for our fulfilment and storage teams giving a boost to their wellbeing because they have the space to achieve our business aims more easily.
“The warehouse, located on Sinclair Drive, also includes a purpose-built space for our fulfilment team enabling it to achieve more streamlined workflows. In addition, we can accommodate higher volumes of non-standard stock.
“At PDS, we take our commitment to the environment seriously and have pledged to reduce our carbon emissions by five per cent each year to maintain our Planet Mark certification. We are able to reduce our energy consumption within the warehouse by installing motion sensor lighting and reducing the overall number of vehicle movements.
“Since we completed the purchase of the new warehouse, the PDS logistics team has been working to transform the space and move in our existing stock as well as new equipment. The logistics function is fully integrated with our unique technology, the innovative PDS+ online stock management system offering greater accuracy and transparency including through real time reporting.
“As well as delivering greater capacity and flexibility for our clients, we have successfully future-proofed our business for the long-term enabling PDS to work towards the achievement of its ambitious growth targets.”
Plans submitted for 136-hectare sustainable urban extension transforming Skegness
The future transformation of Skegness has moved a crucial step closer as plans are submitted to deliver a 136-hectare sustainable urban extension creating hundreds of homes, much-needed jobs for the local community – and an exciting new future for the town’s generations to come.
The planned Skegness Gateway development to the west of the town will provide more than 20 hectares of combined retail, business and industrial space. It also will provide 1,000 new homes – including specialist housing, hundreds of jobs, much-needed open space and recreational amenities and a college and learning campus with space for business startups.
East Lindsey District Council will soon consult on a draft Local Development Order (LDO) allowing the opportunity for the public and other stakeholders to comment on the proposals.
The Skegness Gateway, on land principally owned by local family business Croftmarsh, with additional areas owned by the Scarbrough family, is set to breathe new life into an area of the Lincolnshire coast that drastically needs change in order to secure its future, boosting the local economy and providing the education and jobs for local people that will encourage them to stay in the area.
Croftmarsh says that the project is vital for the future-proofing of Skegness, helping it to take its rightful place in the East Midlands as a place of opportunity and ambition. The scheme will also boost social value for local people – both existing and new residents.
Sue Bowser, of Croftmarsh, said: “We are pleased to support the council in its vision to bring these ambitious plans to reality. This LDO submission is a really significant step. Our family has lived and worked in Skegness for many generations, so it’s a great source of pride that we can support a development that will help secure the town’s future by creating thousands of jobs and homes for both existing local residents and attract a new generation of people to the area.
“We are working closely with East Lindsey District Council and other partners to bring forward a scheme that will work alongside the regeneration being enabled by the Towns Fund.”
Once complete, the sustainable urban extension will help establish the town as a hub for investment, opportunity and ambition, as well as creating a new sustainable community that blends high-quality new homes with plentiful green space.
Sue added: “We know that Skegness is a town that needs economic transformation. The mechanism for that is through urban regeneration and expansion of skills, training and education – all secured by investment and infrastructure and digital connectivity.
“Ours is a town in real need. There isn’t enough money in the town to pay for this all year round and the secret to this is to have more people living here. We need to create jobs. We need to build infrastructure and provide the significant benefits that government is seeking in places such as Skegness.
“We want to enable the delivery of hundreds of new homes not just for the people who live in the local area – but for those people we want to attract to come and live and work in Skegness. This scheme will transform the area, putting it on the map and making the town famous not just for its beaches, but for its enterprise.”
The aspirations for the Skegness Gateway have been showcased to the local public and stakeholders through engagement events and were well received as a catalyst for economic growth and wider regeneration.
Matt Warman, MP for Boston and Skegness, said: “This local sustainable development includes a state of the art learning campus funded through the Skegness Town Deal, providing new training opportunities for the coast. Importantly, training including digital skills, motor vehicle, construction and engineering, will allow people to gain the skills and knowledge they need to get the jobs they want.
“Removing barriers to learning is a key focus for the Towns Fund and I’m delighted that this funding from Government will be helping to deliver these local opportunities.”
The Sanderson family – which owns the majority of the land set for development – has lived and worked in the Skegness area for seven generations and has long been passionate about securing the town’s future by providing jobs, skills and opportunities.
Neil Sanderson, also of Croftmarsh and Sue’s brother, said: “Skegness Gateway really is close to our hearts and homes, and making sure it becomes the reality that puts our town firmly on the map is our key aim. This is a town that we have grown up in and really understand what a difference the scheme and its benefits will make to local people.
“The LDO submission marks a key point in the journey to making these plans a reality for the whole of Skegness and the wider area to benefit from. We look forward to continuing our support to East Lindsey District Council throughout the process – and to making its vision a reality.”
Reserved Matters approval for 75 new homes in Calow
Woodall Homes has gained Reserved Matters approval for a residential development of 75 dwellings in Calow.
Further to Outline planning permission having been granted in December 2021, the brand-new development located on Top Road has now received Reserved Matters approval.
The new site will feature a mix of one, two, three and four-bedroom properties, including bungalows. The development will be accessed from Oaks Farm Lane, which is to be upgraded and will include a 2m wide footpath.
This development includes comprehensive landscaping proposals, providing for broad undeveloped areas of green infrastructure, wildlife-friendly habitats, native planting and additional hedgerows, plus the retention of existing woodland, which is to be protected. The public right of way through the development will also be maintained, providing recreational access to the countryside for the community.
Darren Abbott, planning director at Woodall Homes, said: “We can’t wait to get started on the new development, with work expected to begin in early 2023.
“There is already a fantastic community growing within Calow, with our nearby Churchfields progressing well. We love working within the area and I know the entire team are looking forward to the beginning of this next project.”
Woodall Homes currently have five developments under construction across Derbyshire and Nottinghamshire.
Bioscience space proposed for The Island Quarter
Approximately 190,000 square feet of bioscience space is being proposed for Nottingham’s Island Quarter development.
Developer, Conygar has revealed that it is currently finalising a detailed planning application, and is progressing discussions with a potential funding partner, for the space.
It expects to submit the application in the coming weeks.
The building will include both laboratory and office space, as well as conference facilities and car parking and be located adjacent to an existing bioscience hub.
Conygar added: “We continue to progress the detailed designs for subsequent phases and are in advanced discussions with potential investors in connection with further commercial and residential developments and would hope to make announcements in that respect over the coming months.”
Record revenues expected at Van Elle following strong first half
Strong trading momentum has been reported through the first half of the year at Van Elle, the ground engineering contractor, according to a trading update for the six months ended 31 October 2022.
The company says that all divisions have operated at high activity levels, with significantly increased revenues delivered in Housing and General Piling. As a result, the group expects to report record revenues for the period of approximately £81m, representing an increase of 35% on the prior year comparative of £60.1m.
Profit before tax is expected to exceed £3m for the period, up from £1.9m.
Van Elle meanwhile has indicated that although there has been some easing in supply chain disruption during the period, inflation, and in particular wage, fuel and materials costs have continued to impact the group.
Looking ahead, the firm said: “Whilst recognising the current economic uncertainty in the UK, strong activity levels are expected to be sustained through the second half of the year, despite the winter months which traditionally deliver lower activity levels due to weather disruptions.
“The Board is pleased with the progress made in the first half of the year and anticipates trading for the full year to be slightly ahead of market expectations.”
“Robust” trading and new CEO for Forterra
Forterra has revealed that Neil Ash will become Chief Executive Officer designate on 3 April 2023, following the announcement that Stephen Harrison will be stepping down as CEO during the first half of 2023.
Neil has almost three decades’ experience in the building materials sector and an impressive track record of improving performance and delivering growth. Currently at Etex, the Belgian lightweight building materials manufacturer, he leads the Building Performance division which is a €2 billion revenue business. During his time at Etex Neil oversaw major capex projects, significant acquisitions, and developed its sales approach which delivered strong top line growth.
His experience includes 15 years at Lafarge, where he undertook many roles, including the role of Vice President International Business Development and Sales and Commercial Director UK & Ireland of Lafarge Plasterboard.
Justin Atkinson, chairman, said: “We are very pleased to appoint Neil as the next CEO. His business leadership and extensive building materials sector knowledge will be invaluable to Forterra in the next stages of our development and the Board looks forward to working with him.
“The Board and I are grateful to Stephen Harrison for the significant contribution he has made to the business during his tenure as CEO. We wish him all the best for the future after he leaves Forterra in the second quarter of 2023.”
The news comes as Forterra provides an update for the ten-month period ended 31 October 2022, in which trading “has remained robust” with YTD sales volumes in line with last year. The firm says this reflects ongoing production capacity constraints and record low inventory levels. Group revenue in the period was 23% ahead of the prior year, driven by selling price increases. Full year results are expected to be in line with management’s expectations.Stephen Harrison, CEO, said: “Trading remains robust although we are watchful of the impact of the recent instability in financial markets and the reported negative impact this is currently having on the housing market.
“The group enters this uncertain time in a position of strength having a strong balance sheet with low levels of debt and high levels of cash generation. Inventories remain at record low levels and despite the current uncertainties we remain well-placed to mitigate the effects of a softening of demand by substituting imported bricks with domestically manufactured product.”
Eden PR adds new Account Manager to growing team
Eden Public Relations is pleased to welcome Conor Davies as its newest Account Manager, following a roll of new client wins in Q3 and Q4.
Leading Midlands-based public relations and marketing communications agency Eden PR has strengthened its account management team with the appointment of Conor Davies.
Joining the team with a variety of industry experience, Conor brings a range of valuable skills to the Eden team, including strong journalistic and web copywriting, event management and client relations as well as social media content strategy. He will be a core part of the agency’s growing account management team, helping to oversee work for a variety of Eden’s clients, as well as management of the junior members of the team.
Conor brings six years of agency and in-house communications experience to the team. He has worked across a range of B2B and B2C sectors, including charity, sport, IT and the healthcare sector among others. Within these roles, he’s helped to implement press campaigns for events across the UK, Ireland and the USA, including running press days and carrying out interviews for features, press releases and social media content.
Conor said: “I am delighted to be joining the amazing team at Eden PR and am excited to start working with my clients. It’s a very busy and fast-paced time to be joining Eden, with lots going on and new client wins. 2023 is looking like a big year for us!
“The team at Eden have been incredibly welcoming so far, and already have helped me to feel at home. Everyone is incredibly supportive of each other and I’m looking forward to continuing my own self-development, as well as overseeing the growth of our client-base and fantastic junior staff at our Lace Market office.”
Joint Managing Director at Eden PR, Kathryn Greenwood, said: “It’s been great to add Conor to our growing team at Eden. He will help oversee the account management for some of our biggest accounts and we are excited to see the ideas he will bring to the table.”
East Midlands Chamber urges region’s businesses to get involved with devolution consultation
East Midlands Chamber is urging businesses in Derbyshire and Nottinghamshire to get their voices heard by taking part in a consultation over devolution plans.
The four upper-tier local authorities in Derbyshire and Nottinghamshire last week launched a public consultation into proposals to establish an East Midlands County Combined Authority.
Set to be formed in 2024, the overarching authority would give the two counties more decision-making powers on areas such as transport, adult skills training, and the environment, as well as bring £1.14bn in extra funding over a 30-year period.
The consultation, running from 14 November until 9 January, is open to residents, businesses, community and voluntary groups, and other organisations in the region.
East Midlands Chamber chief executive Scott Knowles said: “The devolution deal for Derbyshire and Nottinghamshire is a huge opportunity by providing a political structure that removes obstacles to decision-making, enhances the ability to attract investment and ultimately creates an environment conducive to business growth.
“It will help these counties to take strides forward in productivity and innovation, enabling firms to drive the economic growth that creates jobs and wealth locally.
“Devolution also gives businesses a greater say over what happens in their area as they will be represented within the proposed governance structure.
“The Chamber is supporting these plans to create a mayoral county combined authority, but it’s important the full business community’s views are heard so we would urge organisations of all shapes and sizes to get involved with the consultation.”
The leaders of Derbyshire County Council, Nottinghamshire County Council, Derby City Council and Nottingham City Council signed up to work on a devolution deal on 30 August this year at the Rolls-Royce factory in Derby, following an announcement from the Government that a package of new powers and funding worth £1.14bn were available for the area.
Since then, the councils have been working on agreeing a more detailed proposal for consultation, which includes more information about how devolution would work in the two counties. The public consultation, which features a survey, represents the next step in the process, allowing everyone the chance to give their views on proposals.
To take part in the consultation, visit www.eastmidlandsdevolution.co.uk
Honorary professorship for Leicestershire business leader
An honorary professorship has been bestowed by De Montfort University upon a Leicestershire philanthropist and business leader.
Dr Nik Kotecha OBE DL, has been appointed Professor of Entrepreneurship, Innovation & Philanthropy for the Faculty of Health & Life Sciences, some 35 years after he completed his PhD in Medicinal Chemistry.
Since leaving education, Dr Kotecha has become a well-known entrepreneur, having founded Loughborough-based Morningside Pharmaceuticals in 1991, which he divested of in October this year. In 2017 he established his own charitable foundation, the Randal Charitable Foundation, which has an aspiration to directly save 1 million lives in the UK and globally.
Dr Kotecha, who is also a pro chancellor at DMU, said: “I was carefully considering a career in academia after university, and with 30 years in business instead, I never thought I would be receiving the title of ‘professor’.
“To now be honoured with this title is special. DMU teaches many students who are in the situation I was in 40 years ago. Many are the first generation of their family to go to university, from disadvantaged families and diverse ethnic cultures.
“When I meet their families and see these young people walk by me onto the stage at graduations, in my role as pro chancellor, I am incredibly proud that DMU has provided these excellent graduates with the opportunities they deserve.”
For Dr Kotecha the honorary professorship is particularly special because his family came to Leicester 50 years ago as refugees, when he was a child, after the Ugandan Asian community were expelled by the Dictator Idi Amin.
Supported by his parents, he was able to secure a County Council grant, which enabled him to gain a first-class (Hons) degree in Newcastle, and then his PhD at Imperial College London with further doctoral research at the University of Cambridge.
As part of his new role, Dr Kotecha will be delivering guest lectures, while sharing his expertise with students and academics across all faculties, with a focus on enterprise and innovation development, as well as student employability.
Talking about his ambition to share his own experiences, in the hopes of inspiring the next generation of entrepreneurs, Dr Kotecha said: “Education opened many doors and gave me important chances in life. I would be humbled if today’s students would see my story as an inspiration to raise their aspirations and follow their own dreams. It takes passion, commitment, hard work; but can be achieved by anyone who has the will and a positive attitude.
“I started Morningside from a home garage 30 years ago and grew it through entrepreneurship and embracing innovation into a global pharmaceuticals manufacturer and exporter. I hope that I will be able to share my story with students and inspire them to say, ‘if he can do it, I can do it’. If this is the case, then I will have succeeded in my role as professor.”
As well as sharing his experiences with the students, Dr Kotecha will also be taking up an advisory role with the university’s Leadership Team; drawing on his experience as an influencer in business, politics, and philanthropy.
This experience as a regional and national leader in the business world includes being chair of the East Midlands CBI, a Department for International Trade Export Champion; and a Board Member for the Midlands Engine Council, the Centre for Social Justice, the British Asian Trust and the Leicester and Leicestershire Enterprise Partnership (LLEP).
Talking about the advice he plans to share with students, Dr Kotecha added: “I was there making life-changing decisions as a student in the 1990s, so I understand what today’s students are going through now. I would like to help them discover that the skills they have learned in academia will open them up to so many more exciting opportunities in the world.
“My advice would be, find your passion. Then when you find your passion, discover your purpose in life. And having discovered your purpose in life, find your career.”
Congratulating Dr Kotecha on his appointment, pro-vice chancellor and dean of the Faculty of Health and Life Sciences, Simon Oldroyd, said: “DMU is so proud to welcome Dr Kotecha as a professor of Entrepreneurship, Innovation and Philanthropy. He is one of Leicestershire’s great business success stories and he has helped millions around the globe.
“The vast experience Dr Kotecha has accrued in the world of medicine, business and philanthropy over 35 years, coupled with his incredible drive to succeed and help others, will bring huge benefits to our students, academics and the wider community.”
Another successful year for the East Midlands Expo
Last Monday (14 November) the annual East Midlands Expo descended on the East Midlands Conference Centre, with Business Link in attendance as partners.
Proving once again to be a huge success, the event organisers have already received “fantastic feedback” from exhibitors and delegates alike.
Free to attend, the established event of over 20 years presents everything you require for the ultimate day of business generation.
The day of networking opened to attendees at 9am, and welcomed speakers Alex Thornton (Human Alchemy), Mark Rayers and Tony Goddard (BSP Consulting), Luke Prout (Streets Chartered Accountants), and Andrew Pritchard (East Midlands Councils), all offering some positivity on what has been a year of uncertainty.
A sold out networking lunch also took place.
The East Midlands Expo will return in 2023. For more information click here.
Nottingham Castle closes to visitors as Trust begins process of appointing liquidators
Nottingham Castle Trust has begun the process of appointing liquidators, with the Castle grounds and exhibitions closing to all visitors until further notice.
Tim Bateson and Chris Pole of Interpath Advisory have been nominated by the board to be appointed as liquidators to formally wind up the affairs of the Trust. Their appointment will take place during the course of the next ten days.
A statement from Nottingham Castle says: “We would like to thank all the Castle’s supporters, including the thousands of visitors that have been through our gates. Finally, a huge thank you to staff and volunteers who made Nottingham Castle such an amazing place to visit.”
The news follows work to transform the castle, with a £31m redevelopment project including the refurbishment of the 17th century Ducal Palace, medieval Gatehouse, and sprawling cave networks. A new Visitor Centre, located within the foreground of the remodelled landscape, meanwhile, was created to provide new guest facilities.
Visitor numbers have been lower than anticipated, while the Trust has seen a number of controversies.
Nottingham City Council’s portfolio holder for leisure, culture & planning, Cllr Pavlos Kotsonis, said: “It is a matter of huge disappointment that Nottingham Castle Trust, which has been responsible for operating Nottingham Castle, has informed us that in light of its trading performance, it is in the process of appointing liquidators and closing the site, which it will be handing back to the council.
“This is clearly a significant blow for the city and its visitor economy. The council’s immediate priority is to work with the appointed liquidators to support those staff at the Castle who have been affected by this sad news, and to safeguard the site and its collections while it is not operational.
“We appreciate the significant efforts that the employees of the Trust have put into the site and understand how devastated they must be by this news.
“We will re-open the castle as soon as possible. Once we have a clearer picture from the liquidators, we will explore all available options together with our key partners The National Lottery Heritage Fund, Arts Council England and others to develop a fresh business model.
“There is a real commitment from all parties to see this important cultural asset fulfil its full potential for the city and the wider region as a successful visitor attraction, playing a key part in our wider plans to bring investment, jobs, visitors and growth to Nottingham and its residents.”
Wilko enters talks for £30m loan
Nottinghamshire-headquartered Wilko is in talks to land an emergency loan as cost pressures grow for retailers as we approach Christmas, according to The Times.
Wilko is said to be looking to alternative lenders for a £30 million injection, entering the talks after being unable to agree to an extension of its revolving credit facility, due to interest rate rises.
The news follows the business agreeing a sale and leaseback deal with DHL at its Nottinghamshire distribution centre to unlock £48 million.
The company said this would be just the first of a series of positive partnership benefits that would allow the business to further improve the proposition and the customer experience across its 402 stores and wilko.com.
At the time, Jerome Saint-Marc, wilko CEO, said: “It’s standard business practice to constantly review how we manage our finances. This property deal with DHL represents long-term stability for us and our team members and is the right response to the current market conditions and our priorities.
“We’re making smart choices to trade a business and allow us to continue to invest in our long-term transformational strategy. Wilko remains family owned and continues to focus on helping hard working families to be the best that they can be, delivering great value products to our customers.”
Mobility products manufacturer secures J28 warehouse unit
Commercial Property Partners (CPP) has let a 64,002 sq ft modern warehouse facility at The Nursery in South Normanton to Pride Mobility UK Limited.
The US company, the designer and manufacturer of mobility products, recently acquired the Nottinghamshire-based rise/reclining chair manufacturer Sitting Pretty with a view to relocating its whole operation to accommodate future expansion plans.
Unit 2, which forms part of The Nursery industrial scheme, offered Pride Mobility three times the space of the previous manufacturing site, with circa 85 staff relocating to the new base, which also enjoys easy access to Jct 28 of the M1, only one mile away.
Built in 2006, Unit 2 is a detached steel portal frame unit with 10m clear working height, four dock level loading doors, two level access loading doors, a two storey open plan office with canteen and welfare facilities. Externally, the unit boasts a 40m concrete, fenced and gated yard and circa 80 parking spaces.
Wincobank Way forms part of the South Normanton industrial estate, an established commercial location which has attracted numerous key occupiers including Eurocell, Alloga UK, Radius Systems and GXO Logistics. Road connectivity and access to a local skilled labour market also help to underpin the location as a sought-after manufacturing and logistical base.
Sean Bremner, director at CPP, said: “Staff retention was a key requirement for the tenant and so finding a solution within relative close proximity to their existing premises was important. The company is very brand conscious and Unit 2 represents a high quality building to fit the profile of Pride Mobility UK Limited.
“There was a lot of interest in the facility and we’re delighted to have secured Pride Mobility UK Limited whose expansion ambitions can only be good for the area.”
Stephen Wright, operation director at Pride Mobility UK, said: “Thanks to Sean Bremner, CPP & the owners of the Building. We have been able to move into this building much quicker than we expected, which in turn has given us the space we desperately needed due to the business growing rapidly since acquiring Sitting Pretty back in July 2021.
“The new building gives us the space we need to move the whole operation under one roof, including dispatching goods from South Normanton instead of our Pride Mobility subsidiary in Oxfordshire and more importantly being able to keep all of our existing staff and their wealth of experience rather than having to relocate the business to a different area.
“From January 2023, Sitting Pretty by Pride Mobility Ltd will be running its newly polished, full scale operation out of South Normanton for the foreseeable future.”
Growth for rg+p’s planning division
The planning division at multi-disciplinary design practice, rg+p continues to grow with director, Chris Lindley reporting two new appointments alongside instructions from across the development industry including strategic land promotion, affordable housing, later living, commercial, energy and heritage projects.
“Since I joined the practice circa 18 months ago, the team and our work has evolved quite significantly,” says Chris. “Two new senior planners, Ellie Dukes and Dale Radford have joined with backgrounds in planning policy and development management respectively, meaning we’ve been able to collaborate more closely with our design colleagues, especially on the architecture and placemaking sides.
“We’ve also increased the diversity of our portfolio, undertaking several projects in historic environments involving listed building and scheduled monument consent regimes. This includes the Butterley Engineering site in Derbyshire where our work is supporting a significant regeneration project. Further diversification has seen us appointed on renewable energy schemes including solar PV installations in sensitive environments such as the Grade II listed St Mary’s College in Oscott, West Midlands.
“Of course, this is not to discount our work in the housing sector, where we remain especially active, working for five leading affordable and specialist housing providers across the UK as well as promoting strategic land opportunities including an outline planning application we have recently submitted in the Derbyshire Dales for respected land promoters, Richborough Estates.
“Looking ahead, there are inevitably challenges to navigate. Firstly, urgent reform is needed in the planning sector to rebalance resources and unblock the sheer volume of cases so that development can progress. Secondly, more effective and constructive communication between public and private sector colleagues is absolutely essential as it can overcome these resource challenges and focus professional debate.
“Unfortunately, the pandemic has exacerbated a reliance on virtual communication and this prohibits building natural rapport. There are some local authorities positively addressing this by re-introducing forums for discussion, and their officers and members should be applauded for this, but it’s needed as standard practice on a national scale to bring professionals together and promote positive dialogue.
“From an rg+p perspective, we anticipate several significant instructions maturing over the next year as we continue to support our architecture and project management colleagues and diversify further into the commercial, student and education sectors, meaning we are therefore likely to recruit in the near future. We’re also seeking to become more knowledge-led, using our expertise and awareness of legislative reform to add value for clients,” concludes Chris.
