Midlands sees fall in permanent placements for first time since February 2021

Tess Egginton
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Midlands sees fall in permanent placements for first time since February 2021

The latest KPMG and REC, UK Report on Jobs: Midlands survey saw permanent placements decline for the first time since February 2021 and a second consecutive reduction in temporary billings during October. Pay inflation, meanwhile, remained elevated amid reports of both high demand for labour alongside shortages in candidate availability.  

The KPMG and REC, UK Report on Jobs: Midlands is compiled by S&P Global from responses to questionnaires sent to around 100 recruitment and employment consultancies in the Midlands.

Renewed decline in permanent placements

The number of permanent placements across the Midlands fell for the first time since February 2021 in October. Moreover, the rate of decline was marked. Recruitment consultancies indicated that the renewed decline in permanent placements stemmed from the weak levels of demand that firms across the UK are currently facing.

The decrease in permanent placements in the Midlands was the second sharpest of the four monitored English regions, behind only London which registered the fastest decline since July 2020. All of the monitored English regions recorded lower levels of permanent placements and three of the four downturns followed increases in the previous month.

Temp billings fall at the fastest rate since June 2020

Temporary billings fell for a second consecutive month at the start of the final quarter. Moreover, the rate of decline accelerated from September and was the quickest since June 2020. Anecdotal evidence suggested that the downturn was linked to the worsening economic landscape in the UK. Other firms mentioned that a shortage of candidates also contributed to the decline.

The fall in temp billings in the Midlands was the fastest of the four monitored regions. Conversely, the South of England registered a marked upturn which underpinned the uptick at the UK level.

Demand for staff across the Midlands continued to increase in October, although rates of expansion remained below the respective historical averages. Permanent vacancies rose at a robust rate but at one which was comfortably below the survey peak recorded in July 2021.

Meanwhile, October data completed two consecutive years whereby demand for temporary staff has increased on a monthly basis. The rate of growth, however, was the slowest since January 2021.

Downturn in permanent staff availability sharpens

Recruiters across the Midlands registered a drop in the supply of permanent staff in October which was the nineteenth in as many months. The reduction was sharp and quicker than in September but remained much softer than seen across much of the past year-and-a-half. Candidates were reportedly reluctant to move positions amid widespread economic and market uncertainty. The Midlands posted the softest fall in permanent candidate numbers of the four monitored English regions whilst the North of England reported the sharpest decline.

Temporary staff availability falls at a softer rate

The availability of candidates for temporary roles in the Midlands fell in October, thereby stretching the current negative sequence to 20 months. Anecdotal evidence suggested that people were currently seeking extra stability and had a preference for permanent positions. Other recruitment consultancies also mentioned that high levels of employment across the UK meant that there was a general lack of candidates. That said, the rate of decline in temporary staff availability was the softest since March 2021. Bucking the wider trend, London registered the first uptick in temp staff availability in a year-and-a-half.

Permanent salary growth eases to 18-month low

October data signalled that salaries for permanent new joiners in the Midlands increased for the twentieth month in a row. Though remaining elevated, the rate of increase was much slower than in September and the softest in a year-and-a-half. The rise in permanent salaries was reportedly reflective of a talent shortage, with firms subsequently forced to increase salaries to entice candidates. On a national level, the increase in permanent starting salaries was led by London, though all four monitored English regions registered marked inflation.

Rate of temp wage inflation the softest since May 2021

Hourly pay rates for temporary staff increased further in October, stretching the current sequence of inflation to just short of two years. Anecdotal evidence suggested that a combination of high demand for staff and a shortage in available labour drove the increase in temp wages. That said, the rate of inflation was the softest since May 2021. The rise in the Midlands was also the weakest of the four monitored English regions. London recorded the steepest increase in temporary pay, followed by the South of England.

Commenting on the latest survey results, Kate Holt, people consulting partner at KPMG UK, said: “The looming recession is clearly impacting the UK jobs market. Candidates’ reluctance to move as a result of the challenging economic landscape has resulted in higher demand for staff across the Midlands but fewer actual placements. Employers are also improving their benefit and development offerings, which has also made a significant impact in the number of available candidates.    “The talent war is ongoing in the Midlands and now more than ever, it’s essential that we focus on upskilling the workforce to support and boost economic recovery when it comes. The jobs market will bounce back, particularly if we invest in the skills of the workforce across all sectors of the economy.” Neil Carberry, Chief Executive of the REC, said: “The economic and political uncertainty of September and October has caused employers to become more cautious in their approach to hiring than during the frenzy of earlier in the year. “We’ve witnessed permanent placements decline in the Midlands for the first time since February 2021 and a second consecutive reduction in temporary billings in October. Activity overall, is still well in advance of pre-pandemic levels, however. We will need to watch how this story develops over months to come, but so far this data suggests heightened employer caution, not a retreat from the market. “It remains the case that firms in many sectors are struggling to hire, as hours worked remain below their pre-pandemic level despite record-low unemployment. We’re looking to the Autumn Statement later this month to help with removing the brakes on growth by reforming the apprenticeship levy to build a more effective skills system, improving support to help people move from inactivity to work, and align other policy areas – like work permits – with a growth strategy.”

Nottingham retail warehouse sold for £7m

Tess Egginton
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Nottingham retail warehouse sold for £7m
Independent out-of-town agent XPROP, on behalf of Bradda Capital, has completed the sale of Mansfield Retail Park, Nottingham for in excess of £7m. GPLI acted on behalf of an active private client as they further diversified their portfolio. Comprising 37,955 sq ft of retail warehouse occupied by Go Outdoors, Carpetright and Topps Tiles this investment offers over 12 years of income security, a large proportion of which is guaranteed by JD Sports Fashion PLC. The property has a dominant trading position fronting Mansfield Road (A60) in a thriving roadside, retail and commercial area to the North of Nottingham City Centre. David Griffiths, director, GPLI, says: “We are delighted to have secured this investment on behalf of a private client. In a period of permacrisis, the long term stability and consistency of income offered by this investment demonstrates one of the core advantages of commercial property. “As our client continues to diversify their portfolio we look forward to securing more opportunities across sector and across the UK.” David Phillips, Managing Director of Bradda Capital, said: “We are very pleased to have closed the sale of this property bought for income 12 years ago and generated a gross IRR of 17.5%. This is a fantastic result and a testament to the quality of the assets that we target – and the execution capability of our team.”

Alpkit scales new heights with latest Crowdfunding campaign

Steve Fisher
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Alpkit scales new heights with latest Crowdfunding campaign
Nottingham outdoor retailer, Alpkit, has far exceeded its £750,000 crowdfunding target, raising a total of over £2.3m to date, through Crowdcube. The company, which has multiple sites in key locations across the UK, has also seen demand increase from international markets across Europe and the US. Alpkit are a performance outdoor & bike brand, targeting mountain enthusiasts, who run, hike, climb, camp, swim and bike. Having increased sales to £14m in just eight years, they have opened 5 new stores and become a B Corp since their 2020 raise. In 2020 the company raised £1.5m from 1350 customers in less than an hour. It was one of Crowdcubes fastest ever and Alpkit’s premoney valuation has increased by 44% since then. Alpkit is now looking to grow its UK & international web sales and have ambitious plans to open 2 stores a year and  set up a European hub. David Hanney, CEO and co-founder says, “Having customers as shareholders helps us stay aligned to our purpose. And when we do that, our business flourishes – we know we’ll still be making great product and doing good things not just in 5 years but in 25 years.” The crowdfunding campaign remains open for a further 4 days

900 jobs at risk as Bakkavor announces closure of two East Midlands sites

Steve Fisher
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900 jobs at risk as Bakkavor announces closure of two East Midlands sites
900 jobs are at risk in the East Midlands region as Bakkavor announces closure of two local factories. The company is proposing to close Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester, with around 900 staff working between the two sites. The company blames the macro-economic backdrop and in particular consumer sentiment in the UK , which it says remains very challenging. In a press statement the company states: “As reported in our Half Year Results announcement in September, the significant level of inflation and consumer headwinds we are continuing to face are expected to persist into next year. “Recent investments across our UK operations to enhance our capacity and capabilities provide us with a strong platform on which to further leverage our scale and flexibility. Therefore, as we seek to protect our business, we have undertaken a detailed review of our UK footprint. We are proposing to close two sites; Bakkavor Salads in Sutton Bridge, Lincolnshire and Bakkavor Desserts in Leicester. Our other UK sites have the capacity and capabilities to continue to fully service our customers should these proposals go ahead. “As a business that invests in the development of its people, rewards long service and invests in the local communities in which we operate, it is with great sadness that this difficult but necessary business decision may impact a number of our colleagues. Across the two sites, we employ over 900 colleagues. “We will shortly be commencing a 45-day consultation period with affected colleagues and their representatives at both sites. If the proposals go ahead, we will do everything we can to support our colleagues and try to minimise job losses. We are committed to offering our weekly paid colleagues comparable roles at a different Bakkavor site, and for those where this is not possible, we will be working on several initiatives to help colleagues secure alternative employment opportunities in their local area.” Mike Edwards, CEO, commented:“As with businesses all over the UK, we are having to take decisive action to adapt to the challenging macro-economic backdrop. The decision to close any site is never taken lightly, and we do not underestimate the impact of this announcement on our colleagues and the local communities within which we operate. We remain committed to both protecting our business and doing everything we can to support our people through this difficult time.”

£21k pa savings for Academy following ground breaking environmental project

Steve Fisher
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£21k pa savings for Academy following ground breaking environmental project
A Lincolnshire Academy is investing in a ground-breaking environmental scheme which will slash energy bills and reduce its carbon footprint. A heat pump, thought to be the first of its kind in northern Lincolnshire, will replace the 31-year-old system to help provide the heating and hot water in a £520,000 scheme. Lincolnshire Gateway Academies Trust has secured the funding from the Department for Business, Energy and Industrial Strategy (BEIS) as part of its Public Sector Decarbonisation Scheme, delivered by Salix Finance. The scheme aims to put the public sector at the forefront of decarbonising buildings in the UK. The school has also installed 359 solar panels at the site and swopped out all internal lights to LED. The project is expected to save more than 3,000 tonnes of harmful carbon dioxide being emitted into the earth’s atmosphere over its 25-year lifespan. Trust Chief Executive Officer Martin Brown said unpredictable and increasing costs of oil, together with the opportunity of funding, prompted the move. “Somercotes is our only Academy where heating is provided by oil,” he said. “We’re proud to be installing energy efficient, air source heat pump technology and showing our students we are reducing our environmental impact, something as young people they feel very strongly about. “The scheme will also help with rising energy costs. Oil for the old boiler system costs around £20,000 annually, expected to rise to between £25,000 and £30,000 this winter.” The air source heat pump is estimated to save almost £9,000 a year and the solar panels more than £12,000 through on-site generation. “With all the improvements, we’re anticipating a cost saving of £21,000 annually, money which can be used to benefit students elsewhere in the Academy,” said Mr Brown. Salix Finance delivers funding on behalf of Department for Business, Energy and Industrial Strategy (BEIS) and also offers support and expertise to the public sector to decarbonise, improve energy efficiency and lower bills. The project was driven by Rob Middleton, Facilities Officer at LGAT. He and Facilities Manager Mark Shadbolt watched as the £200,000, 7.5-tonne heat pump, was dropped into its position using a 75-tonne crane. He said: “I saw the scheme through doing some research last October and we heard of our successful bid in February, so it’s been a long road to this point. “It’s going to have a dramatic impact on our carbon emissions. The heat pump will reduce the carbon dioxide produced every year by 69%, preventing 98 tonnes going into the atmosphere annually. The solar panels will account for a further 26 tonnes and changing to LED lights 25 tonnes.” Mr Shadbolt said: “Seeing it in situ is a big relief. Rob’s put in a huge amount of work to get it to this point and we’re just looking forward to progressing with the scheme.” The switch from oil to the heat pump is scheduled to be completed in the February half term. The solar panels across three rooftops have been installed and are already generating up to 50% of the school’s required energy. The heat pump will make up the shortfall. Smart metering and a building energy management system will provide data to ensure the system is operating effectively. Fouad Amuni, client support officer at Salix Finance, said: “Working on the Trust’s decarbonisation project has been really exciting and inspiring. “They got rid of a 31-year-old fossil heating system and are replacing it with clean, energy efficient heat pumps. “They’re also adding solar panels and Building Energy Management Systems (BEMS). “They’re making a really positive environmental impact by saving over 3,000 of tonnes of carbon over the next 25 years and at the same time educating future generations about the importance of renewable and sustainable energy.”

IM Properties pushes button on 340,000 sq ft net zero scheme at Hinckley park

Steve Fisher
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IM Properties pushes button on 340,000 sq ft net zero scheme at Hinckley park
IM Properties is pushing forward with a new 340,000 sq ft speculatively built Net Zero Ready logistics and manufacturing unit on its Hinckley Park employment scheme. The delivery of Hinckley 340 is part of the final phase of development on the remaining 18 acres at Hinckley Park, providing a new HQ facility opportunity with two storey offices, alongside two other smaller buildings of 47,000 and 60,000 sq ft . Located next to junction 1, M69, Hinckley Park has already created jobs for 1500 people and is a proven prime location, home to DPD who have one of Europe’s largest and most technically advanced parcel depots and a 532,000 sq ft unit let to Amazon. An industry leading specification in line with the UK Green Building Council (UKGBC) recommendations will set Hinckley 340 apart and reflect the ambitions of IM Properties’ new Sustainable Future’s framework. Hinckley 340 will be delivered as *Net Zero in Construction and **Net Zero Ready which means the building will be optimised to allow occupiers to be ***Net Zero in Operations. It will target BREAM Excellent and an EPC A rating with solar PV roof coverage, EV charging spaces, cycle storage facilities and have an active travel plan in place to include a regular bus service and a network of cycle paths and footways for future occupiers and their staff. Harry Goodman, development manager at IM Properties says despite the economic headwinds the company felt Hinckley Park offered a compelling case for investment. “The key drivers of location, labour and connectivity have always stood out for the employment park, set on the borders of the East & West Midlands and just a short distance from the major conurbations of Leicester and Coventry. “It draws on a large catchment area for last mile delivery operators and is also close to air and rail hubs including BIFT and Hams Hall Railports which appeals to the rich source of supply chain operators in the Midlands.” Goodman continues: “The increased transparency required for all businesses on the sustainability front allows Hinckley 340 to aid occupiers in futureproofing their operations ahead of regulation and  set a benchmark within their own sectors. “As a major investor in the Midlands, we hope to use our influence to help set industry standards and work alongside our occupiers and supply chain to create positive change and reduce carbon emissions.” Working in partnership with the main contractor, Winvic Construction Ltd, IM Properties continues to play an active role in the community, committing through an Employment and Skills Charter to provide training and employment opportunities for local businesses and individuals at all stages of construction on site. IM Properties is represented by local agents Wells McFarlane and CBRE and Avison Young.

Downsized plans submitted for Lincoln Imp’s Stacey West Stand project

Steve Fisher
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Downsized plans submitted for Lincoln Imp’s Stacey West Stand project
Lincoln City FC Directors have downsized plans for the redevelopment of the iconic Stacey West Stand at the LNER Stadium. Original plans for the stand included an extra tier with a hospitality suite, boosting capacity by around 1,500, but due to the current economic climate, the project will now proceed as a two-tier development. In a press statement, the club said: “Against the acute backdrop of an economic climate that has further weakened, and which remains both challenging and volatile, this project has presented many challenges which were unforeseen at its outset three years ago. Despite this, the board’s non-negotiable position on investment remains unchanged – firmly and responsibly committed to growth and progress, but without placing the financial future of the club at risk. “Following a further project review, the board concluded that the original proposal would present an unacceptable risk to this commitment. Nevertheless, it remains absolutely dedicated to investing in infrastructure, and to delivering on the original project objectives – increasing capacity, improving fan experience and creating new community facilities. “Therefore, to maximise the £1.8m already secured from various grant funds and investment from supporters and investors alike, the project will now proceed with a two-tier development, omitting a proposed third-tier hospitality suite, demonstrating that the club remains fully committed to increasing its social impact in the community through the vital work delivered by Lincoln City Foundation. “Building a new Community Skills and Education Hub will help tackle the growing skills gap in the city by providing the Foundation with a fit-for-purpose facility from which it can champion the delivery of education and employability skills, all under the brand of the football club. The contemporary new-build will offer community space, offices and dedicated classrooms, enabling the club to increase its social impact value and improve the quality of life of local residents through its wide range of educational, health and well-being initiatives. “Following a successful pilot scheme in early 2022 and a recent landmark change in legislation, the club will seize upon this new opportunity by investing in rail seating. Working closely with the Sports Grounds Safety Authority, the club have submitted an application to trial ‘safe-standing’ in a small section of the Stacey West Stand – with the intention of installing rail seats throughout the entire stand should the trial be successful. “In addition, the club will install barriers in Upper 7 of the GBM Stand to facilitate the safe-standing of supporters in that area. If successful, along with improving stadium aesthetics and fan experience, this significant investment in infrastructure would place Lincoln City as a leading player in safe-standing at football stadia in England, and also offer the potential to increase the LNER Stadium capacity to 11,500. The project will also benefit from some key infrastructure improvements including: • Investment in a new mains water supply to the LNER Stadium, addressing the much- needed demand for improved services for supporters • Investment in power supply to the LNER Stadium, part of a longer-term strategic plan to become more energy-efficient, which will also enable other further plans such as enhancements to the University of Lincoln Fan Village • Investment in a new, state-of-the-art recycling irrigation system which aims to re-use up to 50% of the water used to irrigate the fibre sand pitch, providing much-needed economic and environmental benefits and a major step forward as part of the club’s climate action plan T”he matchday experience will be further enhanced by using the new Hub in other ways such as a social space, a shelter for vulnerable fans, family activities or a multi-faith prayer room. “In line with the board’s vision to have a home that is contemporary, accessible, has soul and reflects the strength of the club’s ambition, this project is just one of many potential investments into infrastructure from a maintained list of future opportunities to upgrade the stadium as part of a longer-term plan.”

If only taxes were the only barrier to growth: By James Pinchbeck, partner at Streets Chartered Accountants

Tess Egginton
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If only taxes were the only barrier to growth: By James Pinchbeck, partner at Streets Chartered Accountants
James Pinchbeck, partner at Streets Chartered Accountants, considers the barriers to, and avenues for, business growth.  The mini-Budget or fiscal event on Friday 23 September not only sought to address, in part, the cost-of-living crisis with its energy support bill but also to unleash the country’s economic potential with the lowering of taxes. The focus being on putting an end to what has been described as economic stagnation. Having a tax regime that incentivises or motivates entrepreneurs and business leaders to start and grow enterprises needless to say is key, however it is perhaps only one element of what empowers, drives or facilitates growth. Against a backdrop of a pandemic most businesses will have probably been more in survival mode as opposed to growth. Whilst innate resilience, along with financial support from the government, has no doubt helped organisations weather the storm, many in business are still recovering. Growth therefore may not yet be back on the agenda, or part of a short term or even longer-term strategy. Few business owners therefore probably have a growth mindset. For those striving for growth there appears to be a number of key barriers, not just the current tax regime. Certainly, one of the biggest barriers, not just for growth but for just maintaining business, is the lack of available labour and skills to fulfill key vacancies. New approaches to recruitment and ways of working have in part helped to ease the situation, however much more needs to be done as part of a longer-term approach. For those fortunate to be operating in a growing market, increasing revenue is somewhat easier than for those operating in a mature sector. For the latter, growth is more dependent on looking at innovation in terms of service and product and gaining a competitive advantage to take market share. For some growth may come about through increasing their geographical coverage. When it comes to growing a business, it invariably requires investment, whether it’s in new products, business processes and systems, people or sales and marketing. Access to either own funds and external finance make such investment therefore key. Having the wherewithal is one thing, having the confidence to make such an investment is another. In uncertain times, and with the rising cost of finance, many will perhaps defer such a commitment. Business growth fundamentally requires business leaders to have confidence in the market they operate and economic certainty, along with their organisations’ capabilities, competence and capacity to deliver growth. Whilst growth may be close to the heart of many an entrepreneur or business owner, unless the conditions are right for it perhaps greater focus in the current climate should be around consolidation and improving profitability. A drive for growth can often be at the cost of increasing the value of what you already have. Perhaps a more balanced approach is what should be strived for.   See this article in the November edition of East Midlands Business Link Magazine here.

Four days to go until the East Midlands Expo – the ultimate networking opportunity

Tess Egginton
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Four days to go until the East Midlands Expo – the ultimate networking opportunity
The highly anticipated East Midlands Expo is now just around the corner, offering the perfect chance to forge new contacts. Free to attend, the established event of over 20 years will take place on Monday 14 November 2022 at the East Midlands Conference Centre, Nottingham, presenting everything you require for the ultimate day of business generation. A well targeted exhibition and networking opportunity, aimed at the construction, property, business, investment, finance, professional services and related B2B markets, register to attend the expo for free here. Business Link is a proud partner of the day, which will begin with exhibitor breakfast networking and open to attendees at 9am. A seminar will take place between 10:45am and noon with BSP Consulting’s directors Mark Rayers and Tony Goddard lined up to present ‘Sustainability and how engineering plays its part’. A special networking lunch (for which tickets are now SOLD OUT) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm. East Midlands Business Link looks forward to greeting visitors old and new and to add a little fun to the occasion, we’re inviting guests to drop their business card in to one of our ‘festively-charged’ staff for a chance to win a case of wine delivered direct to your door. If you’d like it delivering to your home rather than your office, just write the delivery address on your card when you drop it in and don’t forget to let us know whether you prefer reds, whites or a mix.

For more information on exhibiting at the event click here.

To register to attend the event for free click here.

From property agents to developers, architects, contractors, investors, PR firms, and more, see the list of current exhibitors here.

New office and team growth for Loughborough coaching firm

Tess Egginton
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New office and team growth for Loughborough coaching firm

Business coaching franchise ActionCOACH Loughborough has moved into new and bigger office space in The Heritage Building in Loughborough, Leicestershire. 

Located in the heart of the Loughborough business community, the new office will provide much-needed and dedicated space for the team to deliver coaching, training and seminars, and will house ActionCOACH Loughborough employees.

The office includes a meeting and board room, which will be available for other businesses to hire out and use for company or team meetings, as well as additional spaces for co-working and the ability for people to hire a desk on a daily basis.

The business has been based in Loughborough since 2015 and the move follows a successful period of growth for the firm, which is led by Managing Director Matt Bull.

Matt said: “I am incredibly proud of the team and all we have achieved as a business over the past few years, and delighted to have moved into a new and bigger office space to operate in.

“We are part of a supportive business community in Loughborough and by providing office and meeting space for businesses, we hope to connect with more people and grow our relationships beyond Leicestershire.”

As well as the office move, personal growth has been achieved for a number of team members including business development executive Jake Kebble, who has been promoted to head of membership development – leading on key events for the business and growing its membership.

Jake started at ActionCOACH Loughborough in November 2021, as part of the Government’s six-month Kickstarter scheme, as a data analyst before being promoted into a BD role.

Coach Kerry Malster has also been promoted to membership manager, she will be looking after and managing all members, social events and ensuring the ActionCOACH Loughborough experience is world class. Kerry will also continue her role as a business coach.

Matt added: “As a close-knit team of ten, we are committed to investing in our team members and I’m delighted that Jake and Kerry have been promoted into new roles within the business. Jake in particular has had a fantastic journey with us and I’m proud to see him grow into a head of role.

“We recently hit our milestone of 50 clients and the goal for 2023 is to continue to grow our client base as well as support local talent and investment in the area. We want to expand our coaches, to serve the demand, and recruit apprentice level and young people to train them to be the next generation of coaches.”

Digitised smart energy networks could save billions in energy costs across the Midlands

Steve Fisher
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Digitised smart energy networks could save billions in energy costs across the Midlands

As the energy crisis continues, a new Midlands Engine report finds that digitised smart energy networks could save billions in energy costs across the Midlands.

A new report from the Midlands Engine has put forward a plan for the Midlands to become the UK’s first Smart Energy Region, helping tackle both the cost-of-living crisis and climate change. The report, Smart Energy – An Energy System for the 21st Century, was co-authored by the Midlands Engine partnership, Siemens and the University of Birmingham. It calls for the accelerated digitisation of regional energy systems to usher in significant domestic energy savings, job creation, and support for the continued rollout of cheap, clean energy sources. Smart energy systems can include ‘microgrids’, electric vehicles and smart meters, and would use digital technologies and artificial intelligence to balance energy needs across a network. In the case of the Midlands, the report identifies opportunities for consumers and businesses to save up to £70bn in energy costs, while slashing hundreds of thousands of tonnes of CO2 emissions and establishing the region as a world leader in smart energy. This month the National Grid began trialling a scheme using smart meters to help customers access discounts by using less electricity at peak time. The Smart Energy report identifies opportunities for similar schemes for small businesses and electric vehicle charging and highlights ways in which interconnectivity and use of data can drive even greater efficiencies. It calls for a number of initial steps to set the region on the right path, including the rollout of large-scale Smart Energy Pathfinder projects, the creation of a regional energy data taskforce, and the formation of a smart energy skills programme. It highlights the need for public sector support for decentralised energy systems, especially through more local renewable energy generation. These steps would follow a number of regional smart energy projects that are already underway, including the University of Birmingham’s smart campus plan. Combined with the region’s scale of energy utilisation (the Midlands accounts for a sixth of Britain’s electricity and gas demand) and its ambition to reach net zero, the report says the region could become a smart energy exemplar. Lord Bilimoria, Chancellor of the University of Birmingham and President of the Confederation of British Industry, said of the report: “The UK energy system is changing at an unprecedented pace. The ongoing energy crisis has shown how crucial it is that we secure a robust domestic supply of cheap energy, as well as reinforce our commitment to net zero emissions by 2050. “Smart energy systems are a crucial step on the way to achieving these aims, while providing regional growth and supporting high-skilled jobs. It’s fantastic to see the Midlands leading the way in their development, with the University of Birmingham, Siemens and the Midlands Engine combining their expertise to make potentially transformative policy recommendations.” Sir John Peace, Chairman of the Midlands Engine partnership, said: “The Midlands Engine partnership is committed to growing our region’s economy while ensuring a net zero transition for the next generation. The exceptional work of partners to lay the groundwork for smart energy, combined with our world-leading research and manufacturing base, means we are well placed to build on our history of powering the UK by driving forward the implementation of smart energy systems. “Smart technologies will also make an immediate impact, enabling users to better manage energy demand at a time of high inflation.” A focus on smart energy follows numerous recent advancements in the green growth sector in the Midlands. The region was recently chosen to host the West Burton STEP fusion project and has been moving forward with its plans for a hydrogen technologies valley. These are all underpinned by the Midlands Engine’s ten-point plan for green growth, which has set out a roadmap for a 36% reduction in CO2 emissions from 2020 levels, while generating £24.2 billion GVA for the region’s economy by 2041.

North Lincolnshire Business Centre snapped up in £14m acquisition run

Steve Fisher
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North Lincolnshire Business Centre snapped up in £14m acquisition run
A North Lincolnshire Business Centre has been bought by property investment and development company, Hurstwood Holdings in Manchester. The Queensway Business Centre in Scunthorpe was previously owned by by Dean Property Group, and the recently Refurbished centre boasts 20,820 sq ft comprising 33 offices from 168 sq ft. Hurstwood Holdings has added the hub to its portfolio as part of a recent £14 million acquisition run in recent weeks, taking its total spend on new properties this year to £35m. In addition to the Queensway Business centre, the company has completed the purchase of five additional industrial and office properties, nationwide, which include:
  • Vision Park in Peterborough: Six modern warehouses totalling 15,037 sq ft and set to undergo a refurbishment, providing flexible leasehold accommodation from 1,150-6,781 sq ft.
  • Fraser House in Ipswich: A 16,409 sq ft multi-let office building on Museum Street in the town centre where Hurstwood already owns another building. The prominently located, period building is fully let to Savills (UK) Limited, Peopleplus, Netscout, Attwells and Brewin Dolphin.
  • Bridge of Don Industrial Estate in Aberdeen: Comprising six warehouse units, totalling 30,470 sq ft and fully let with occupiers including Andrews Hydrographics.
  • Mandale Triangle in Thornaby, Stockton-on-Tees: A 30,656 sq ft industrial building that is part vacant and part let to a Gym company.
  • Kings Court in North Shields: Situated close to the town centre, this two-storey modern office building totals 78,577 sq ft, the majority of which is let as a courthouse to the Secretary of State, which has been in occupation for more than 20 years.
Stephen Ashworth, Chairman and CEO of Hurstwood Holdings, says: “So far this year, we have acquired 15 new properties with a total investment value of over £35 million. We are always on the lookout for unique opportunities to boost our portfolio from fully occupied buildings to ones where we can capitalise on our in-house team’s expertise and add value. Whilst we are a North West based business, we are significantly increasing our presence nationally with properties in England, Scotland and Wales, spanning from Inverness to Ipswich. We have the experience and skills in house to manage large commercial investments having grown organically over the last 30 years which has helped shape the future of the business. Our focus is to buy property well and use our skills and efficiency of service to provide value and quality of space for our occupiers large and small and for all aspects of commercial uses.” The buildings were all sold for an undisclosed figure by auction or private treaty. Together provided the funding for each of the purchases.  

IDT achieves landmark carbon neutral accreditation

Tess Egginton
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IDT achieves landmark carbon neutral accreditation
Ilkeston-based managed service provider IDT has achieved a significant environmental milestone – a whole two months ahead of schedule.IDT has been verified with Carbon Neutral + accreditation, which means the company is offsetting 25% more carbon than it is producing.The landmark marks a sustained, year-long effort by IDT to lessen its carbon footprint. The company has also started the process of changing its vehicle fleet to a complete EV and Plug-in Hybrids. This will be complete in the next six months.Other environmental work has included investing in the IDT head office, replacing the legacy lighting with up-to-date energy efficient LEDs throughout, as well as the expensive and inefficient electric office heating with air conditioning. IDT has also installed the latest roof insulation technology.IDT is also educating its staff by doing the simple, important things like turning off lights in rooms that are not used and unused equipment.Luke Draper, Managing Director of IDT, said: “For IDT, being sustainable is a priority for myself and co-founder James Cartwright, not because of how it is viewed or commercial pressure – but because it’s the right thing to do. Of course, our clients care that we’re carbon neutral. But if they didn’t, we still would be doing this.“As an IT MSP it’s going to sound silly, but we have actually reduced the amount of IT equipment we run and replaced old hardware with newer energy efficient upgrades. Having been completely cloud-based for the past three years we ensure our cloud partners who we use share the same ethos as us.“From a personal point of view I have two young boys and ensuring I am doing everything I can to lessen the impact my business has on our world and set an example for them is really important to me.”Luke says that IDT’s staff have reacted positively to the initiative.He added: “This is exactly what we hoped for as we are now classified as a Carbon Neutral + organisation. Working closely with carbonfootprint.com there were many different carbon offsetting projects, but we decided it would be nice to put back into the local area so we this year have backed the UK Tree Planting project and specifically focussed on the East Midlands.“Now that we have drawn a line in the sand and had it verified where we are today as a business, my plan is to year on year try to reduce and improve our impact on the world around us.”

Revenues soar at Leicester-headquartered luxury watch retailer

Steve Fisher
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Revenues soar at Leicester-headquartered luxury watch retailer

Leicester-headquartered luxury watch and jewellery group, Watches of Switzerland, has seen revenues soar in the first half of 2022 with a 31% increase in watch sales and 38% increase in jewellery sales taking group revenues to £765m.

Brian Duffy, Chief Executive Officer, said: “We are pleased to report another quarter of strong trading driven by broad based sales growth across our portfolio of world leading partner brands. Demand remained strong through the quarter and continues to exceed supply, with client registration lists extending as consumers respond to innovative new products, impactful marketing and elevated client service.

 “The first half of the year has been a busy period of new showroom openings – including five showrooms at the iconic Battersea Power Station in London and additional mono-brand boutiques across the UK, US and now Europe – together with showroom refurbishments as we continue to invest to elevate the luxury experience for our clients.

 “Our strong H1 performance underpins our full year guidance, which we have upgraded to reflect the benefit of foreign exchange movements. Looking ahead, we remain confident in our Long Range Plan objectives, supported by a strong pipeline of expansionary projects as we continue with our strategy of investing for growth.”

The Watches of Switzerland Group Foundation has now also approved charitable donations of £2.7 million to continue to support disadvantaged communities in both the UK and US

Vision for Grimsby town centre regeneration to go before planners

Steve Fisher
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Vision for Grimsby town centre regeneration to go before planners
Plans for the transformation of Grimsby’s Riverhead Square in the town centre, next to the troubled Freshney Place shopping centre, will go before councillors at the Cabinet meeting next week. The new design for the area, drawn up by Arup Landscape Design, incorporate input from local people through public consultation and, if approved, will be funded as one of the projects included in the Town Deal, with funding that was secured in 2020 and ring fenced for specific projects. Public sentiment seems to point to “more green spaces and places to relax” and “social space around the water” and these comments helped create the vision for the revamped public area. Councillors will consider the plans at next weeks cabinet meeting.  

400 jobs lost as Next completes deal on e-commerce firm

Steve Fisher
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400 jobs lost as Next completes deal on e-commerce firm
Leicester-based retailer Next have snapped up troubled e-commerce company Made.com from administrators for an undisclosed sum. The transaction however does not include its 600 strong workforce, many of whom are to be let go. Administrators state: “This [the deal] will sadly result in 320 redundancies across the business. In addition 79 employees who had resigned and were working their notice have been released with immediate effect. ” Zelf Hussain, Rachael Wilkinson and Peter Dickens of PwC had been appointed as joint administrators of Made.com Design Ltd. The appointment was made as the high-value retail sector continues to be exposed to the current testing economic conditions. Made.com is a British e-commerce company based in London that designs and sells furniture and home accessories online. The business has 573 permanent employees, with warehouses in the UK and Belgium, alongside offices and showrooms in London, Europe and Vietnam. On appointment, the joint administrators completed a sale of the brand, website and intellectual property of Made.com to Next Retail Limited. This transaction represents the best option available to generate returns for creditors as a whole, under severely limited timescales. Close to 4500 customer orders in the UK and Europe which are already with carriers are being delivered. However, a large proportion of customer orders are still at origin in the Far East at various stages of production. Due to the impact of the business entering administration, these items cannot be completed and shipped to customers. Zelf Hussain, joint administrator and partner, PwC, said: “The company is a casualty of the headwinds being faced by all retailers, but more heavily by those selling big-ticket products. A combination of factors including significant decline in consumer spending from cost of living pressures, rising import costs and continuing supply chain pressures has meant the business could no longer continue. “It is with real regret that redundancies will need to be made. We would like to thank all the employees for their hard work. We will continue to support those affected at this difficult time, including assisting the HR team’s efforts to secure staff new roles. A small number of employees have been retained to support the orderly closure of the business.” Nicola Thompson, Leo of Made.com said: “I would like to sincerely apologise to everyone – customers, employees, supplier partners, shareholders and all other stakeholders – impacted as a result of the business going into administration. “Over the past months we have fought tooth and nail to rapidly re-size the cost base, re-engineer the sourcing and stock model, and try every possible avenue to raise fresh financing and avoid this outcome. “Made is a much loved brand that was highly successful and well adapted, over many years, to a world of low inflation, stable consumer demand, reliable and cost efficient global supply chains and limited geo-political volatility. “That world vanished, the business could not survive in its current iteration, and we could not pivot fast enough. The brand will now continue under new owners. I hope that a reconfigured Made will prove to be sustainable and will continue to be loved by customers.” Rachael Wilkinson, joint administrator and director, PwC, added: “We understand those who have paid for products will be really concerned about receiving their items. The administration means many orders unfortunately cannot be fulfilled.”

Well-known truckers’ café changes hands

Tess Egginton
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Well-known truckers’ café changes hands

A well-known Northamptonshire restaurant used by truckers and motorists has changed hands in a freehold deal.

Jacks Hill Café and Truck Stop, at Watling Street, Towcester, was acquired by a private investor for an undisclosed sum in a competitive bidding situation, said Eamon Kennedy, executive partner and head of agency at Kirkby Diamond.

The prominent roadside site, which extends to 1.74-acres, has an extensive parking area which was previously used as a lorry park for up to 50 units and trailers. The site sits on the A5.

After acquiring the property on behalf of a longstanding client, Kirkby Diamond has now been appointed to market the property on a leasehold basis.

Eamon said: “Our client was very keen to acquire the Jacks Hill Café site as it presents a number of development opportunities, subject to planning. We were very pleased to conclude the deal on their behalf in a competitive bidding situation.

“The site has already attracted a lot of occupier interest due to its excellent location. Towcester is growing rapidly, with a planned residential extension to the south of the town. Work is also underway to create a bypass which will filter traffic around the town centre and unlock further expansion of the town.

“The site offers a wonderful business opportunity for companies that may be considering establishing or expanding their commercial operations.”

Precision People makes head of technical promotion

Tess Egginton
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Precision People makes head of technical promotion

Precision People has promoted Anand Kakkad to head of technical.

Anand joined Precision People, based at the Meridian Business Park, in September 2018 as a team leader of the Maintenance division. Within fourteen months he built the team from two to six consultants, taking new recruits into high performers, and as a result, was promoted to divisional manager of the Technical Perm team.

Director Phil Walker said: “Anand manages the team how most managers don’t; which is by empowering, leading, and coaching, whilst working the hard yards himself. He also takes the time to have an interest in his people’s success and well-being. This makes him the most successful manager Precision has seen.”

This year, under his leadership, the Technical team of Permanent & Contract recruitment has created six promotions, progressing two senior recruiters into managing consultants and building a team with them.

Anand said: “After working at three different recruitment companies, I can firmly say at Precision People, we do things differently. Every business strategy is about people development and achieving individual and business goals together as a family.

“The next steps and progression are at the forefront of every conversation with our recruiters and managers. Without the support of Precision People as a whole, and my record-breaking team, none of this would be possible.”

Phil added: “At Precision, we hold progression at the top of our people development, every consultant has clear steps with measurables to get to the next level in their career, reviewed with them monthly.

“With a record-breaking year this year, we are well on course to grow the team by double within the next three years to forty people. To achieve that we need to have the right culture that champions progression. Those that make it into the management roles needed will benefit hugely both in their career and personally with rewards that are unique to Precision.”

Timms team celebrates title

Steve Fisher
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Timms team celebrates title
The wills and probate team at law firm Timms Solicitors has been named the best in the region. The firm was named Midlands Solicitor Firm of the Year in the British Wills and Probate Awards, which were recently held in Birmingham. The team received the award in recognition of all round excellence, client engagement, technology transformation, commitment to staff development and providing an outstanding service to the local community. Managing Partner Fiona Moffat said: “We are delighted that the wills and probate team have been recognised with this prestigious award. “We have been serving our community and clients from our high street bases for more than 130 years and, under the leadership of Jo Robinson, our established wills and probate team has gone from strength to strength. “We are committed to investing in all of our staff and as a result we are able to provide an exceptional service to our clients.”

Digital transformation firm acquires Nottingham business

Tess Egginton
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Digital transformation firm acquires Nottingham business
OSF Digital, a provider of digital transformation services, has acquired Oegen Ltd., a Nottingham-based Salesforce consulting firm. OSF Digital, which has over 2,200 employees and 49 offices worldwide, is acquiring Oegen to quickly establish a Salesforce Experience Cloud team in the UK region and expand the multi-cloud center of excellence and delivery team in the UK and EMEA. The terms of the deal are not being disclosed. Oegen has expertise in Salesforce Marketing Cloud Account Engagement, Service, Sales Cloud, and B2B Commerce with a focus on the financial and business services, education, and non-profit sectors. Customers include major UK high street banks as well as global education and charitable foundations. “This acquisition will help to deepen our customer relationships in EMEA in many verticals,” said Gerard (Gerry) Szatvanyi, CEO of OSF Digital. “We are serious about further strengthening our Salesforce multi-cloud services globally. Oegen’s agility and commitment to excellence align very well with OSF’s values and mission.” “We’re pleased to join OSF Digital’s growing team,” said Pete Fells, Managing Director & founder of Oegen Ltd. “Together with OSF, we’ll continue to deliver comprehensive digital transformation and user experience excellence to a vast customer base in several verticals in the UK and EMEA.”
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