Tourism growth success for Blaby District
Visitor spend across Blaby District has smashed the target set by the Council in its bid to make the area one of Leicestershire’s leading, most welcoming and sustainable tourism destinations.
In Blaby District Council’s current Tourism Growth Plan one aim was to increase the value of tourism by £50 million on 2016’s baseline level of £159 million.
Latest figures for 2023 show this target has easily been surpassed with visitor spend at an impressive £217 million. The growth in tourism spend is proving to be a springboard for wider economic prosperity across the District.
Spend on accommodation, recreation and food and drink have seen the biggest rises. There has also been a significant increase in employment numbers despite difficulties faced by the sector.
The other two main aims in the Tourism Growth Plan are to, by 2025, increase the number of visitors by 1.3 million – to 4.6 million and increase the number of tourism jobs by 40% to 2,770. As of the end of 2023 visitor figures were at 3.04 million and there were 2,508 jobs.
As the existing Growth Plan ends the Council has started planning for 2025-2030. This includes a review of progress to date and consultation within the Council, the Tourism Partnership and key stakeholders, ready to launch in the new plan next year.
Councillor Cheryl Cashmore, Blaby District Council Portfolio Holder for Health, Leisure, Climate and Economic Development, said: “We are delighted with the progress being made, especially since the latest data shows a strong recovery post-Covid in all areas. In particular it’s fantastic to see the growth in the value of tourism, surpassing our ambitious target already.
“Our Tourism Growth Plan plays a vital role in moving forward the over-riding Blaby District Plan 2024-2028. It helps achieve our vision for Blaby District to be a great place to visit. It is also key to our priorities for ‘growing and supporting our economy’ and ‘keeping you safe and healthy’, by increasing visitor numbers, spend and employment in the District.
“It will also play a pivotal role in the Active Travel Strategy, Community, Health and Well-being Plan and the Economic Development Framework, making Blaby District a welcoming and sustainable tourism destination for residents and visitors.”
Engineering specialist chooses Derby for new home
Engineering specialist, Bennett Engineering has relocated to Derby.
Salloway Property Consultants completed the off-market deal after long standing clients, Ivygrove, started redeveloping a once forgotten corner of industrial units in Derby.
William Speed of Salloway Property Consultants said: “I was aware that Ivygrove were redeveloping these industrial units at Parcel Terrace and that they would do an excellent job as always. It did take some persuading, but I knew all along that the property would be a perfect fit for Bennett Engineering!”
Seleena Creedon, director of Bennett Engineering, added: “We were looking for Derby premises; Will had been helpful showing us a range of offices available however when we mentioned industrial units as being part of our future plan, he knew exactly what to show us to make them today’s plans!
“Unit 5 was looking good when Will showed us around in May, we had lots of questions and Will was super helpful in answering them. The unit has been brilliantly renovated and this little area is thriving, it’s so busy each day which is a real buzz to be part of.
“We’ve also managed to put our own stamp on the place already too with our vision of using a mezzanine floor as our design office space coming to life. This move has enabled us to add new services for Bennett Engineering’s clients including manufacturing and assembly which has already been well received. The Ivygrove team have been so helpful, and we couldn’t be more delighted to be Unit 5’s new tenants.”
William Speed added: “This off market letting further confirms the fact that the industrial market in Derby is still experiencing high demand whilst stock levels can’t keep up. We would really recommend any property owner, landlord or owner occupier, to get in contact to discuss potential options with their property.”
Chesterfield accountancy practice acquired by Xeinadin
Chesterfield accountancy practice Smith Craven has rebranded following an acquisition by Xeinadin.
Smith Craven, employing more than 50 in Chesterfield, Doncaster, Sheffield, and Worksop, will join Xeinadin under its Manchester Central and North region, led by KJG Xeinadin Group.
Xeinadin is a firm of business advisory and accountancy practices in more than 100 locations across the UK and Ireland that provides over 40 service lines to over 50,000 clients, predominantly SMEs and their owner-managers. It was formed through a merger of the offices in 2019 and is now structured into 14 regional hubs, following dozens of new business acquisitions each year.
With the power of a Top 20 accountancy firm behind them, they are able to enhance their client experience through collaboration across other Xeinadin offices and the phased approach to rebrand.
Martyn Langley : “We are looking forward, and proud, to be moving to the next stage in the firm’s development, and to helping local businesses get the most out of the opportunities available to them.
“Chesterfield is a great location geographically, and has a thriving business community. With the number of businesses, and help from the local professionals in the area (who work well together as a team), and the many transport links – the region is well-placed for exciting times ahead.
Greater Lincolnshire LEP Chair welcomes devolution announcement
The man leading the Greater Lincolnshire LEP has announced his support for the devolution deal for Greater Lincolnshire.
Professor Neal Juster said: “The deal will move decision making and funding from Westminster to Greater Lincolnshire, which can only be a good thing for our economy.
“In the long term it will bring around £4bn of extra funding to Greater Lincolnshire and, just as importantly, it will give our area a stronger voice and better access to the levers that drive our economy such as transport, jobs, housing and skills. This should lead to improved outcomes and greater prosperity for us all.
“It will bring about new investments in infrastructure and skills to turbocharge business growth, tackle low productivity, protect our environment and unlock high-quality housing.
“The extensive consultation carried out showed that most businesses support devolution, recognising that it has the potential to bring more power, more money and more say over public sector funding. It is essential that we retain a strong Lincolnshire business voice at the heart of the devolution deal.
“We look forward to working with the government and closely with partners to put the new arrangements in place.”
Hinckley legal team take on tall challenge for children’s hospice
Colleagues from a Hinckley legal firm are taking to great heights to raise funds for Rainbows Hospice for Children and Young People.
The team, from Thomas Flavell & Sons Solicitors, will aim to complete the Derby Cathedral Abseil on Saturday 5 October. They will scale 189 steps to the top of the cathedral’s tower, before climbing over the edge and abseiling the 212ft back down.
They hope to raise £600 to help the charity continue to provide vital care and support to more than 750 babies, children and young people with terminal and serious illnesses.
This is the first time the team, made up of Saher Iqbal, Associate Solicitor; Charlotte Jenkins, Solicitor; Lena Ormerod, Legal Secretary; Joanne Riley, Legal Secretary; Nicola Starbuck, Associate Solicitor and Lauren Jackson, Receptionist, have collectively taken on such a challenge.
Joanne Riley, Legal Secretary at Thomas Flavell, said: “As a team we are really looking forward to our abseiling challenge next month, albeit we are all very nervous. It is certainly one for us to tick off the bucket list whilst raising lots of money for Rainbows. Bring it on! Go team TFS.”
Lauren Baker, Rainbows Corporate Partnership Fundraiser, added: “We are so thankful to Team TFS for taking on this epic challenge. We really couldn’t be there for so many families, at the hospice, at hospital or at home, without this kind of support. We look forward to cheering them on.”
To sponsor the team, visit https://www.justgiving.com/page/thomas-flavell-and-sons-abseiling
Lovedays becomes latest to join Oberoi Business Hub’s expanding law firm client portfolio
Lovedays Solicitors has become the latest to join Oberoi Business Hub’s expanding law firm client portfolio.
The growing firm has offices in Matlock, Bakewell, Wirksworth and, more recently, with Brooke-Taylors in Buxton and has appointed Oberoi Business Hub to handle their busy call handling function.
The Pride Park-based Oberoi call handling team are ensuring that all incoming calls are answered quickly and professionally. Their service includes 24/7 and online live chat support as well as regular management reports to monitor the nature of incoming calls and the response efficiency.
Lovedays Solicitors’ Managing Director Richard Roberts explained: “As a firm we pride ourselves on face to face personal service and decided to outsource call handling some time ago to enable our reception teams to focus on clients coming into the offices rather than their attention being diverted elsewhere.
“Keen to use a local firm, we recently moved this important function from a national provider to Oberoi Business Hub where we now receive a far superior quality and more cost-effective service.
“Investment in marketing is pointless if you cannot maintain consistently high levels of customer service, including ensuring that every call is answered quickly and efficiency.
“Having a dedicated call handling service provided by a professionally-trained team is therefore vital in this day and age and the move to Oberoi Business Hub has been seamless with results proved from day one.”
Oberoi Business Hub manager Jodie Brady continued: “Whatever our clients’ requirements, our call handling services are designed to be cost effective and flexible.
“Our highly-trained team essentially become part of the customer’s in-house team. They ensure client communications are handling efficiently and professionally – creating the right first impression on behalf of our customers and relieving the pressure on individuals to be able to concentrate on their workload without interruption.”
Founder and Managing Director Kavita Oberoi OBE concluded: “Lovedays Solicitors are very clear about the service they require and we were able to prove how our structured and professional approach stands up to stringent monitoring and evaluation.
“We have many years’ experience working with law firms both through our serviced office network and with back-office services including call handling and are delighted to welcome Lovedays to the growing Oberoi Business Hub community.”
Business chosen to build Sea Road building in Cleethorpes
JemBuild Ltd, based in Humberston, have won the contract to build the iconic Sea Road building in Cleethorpes.
Committed to using local companies where possible, JemBuild have already been working with North East Lincolnshire Council on the retaining wall works behind the old beach safety offices. Once this has been completed, work will start on the main building.
A new three-storey building will be constructed on the brownfield site on Sea Road, comprising retail or hospitality space, as well as new public amenities and a changing places facility. Work is ongoing to secure the pre-let agreement for the hospitality provider, which will be announced in due course.
Paul Barker, Managing Director of JemBuild, said: “I am delighted to have secured this fabulous contract with North East Lincolnshire Council and look forward to working with NELC along with our construction partners, Hodson Architects and C2C Structural along with our local suppliers on this exciting project that will undoubtedly cement its place on the local landscape to become as iconic as its sister building, the prominent Pier.”
Cllr Philip Jackson, Leader of the council, said: “This is great news for the area and it’s good to see things moving forwards. The Cleethorpes Masterplan, carried out by renowned consultants, Hemingway Design, has helped us create a vision for the future of the resort, based on what people who took the time to respond to the Masterplan want to see. And hundreds of people have been having their say about the future designs for Pier Gardens and Market Place in the last few weeks too.”
Interrupted by COVID, the three-storey Sea Road building was granted planning permission in 2020, and promises to offer new high quality outside space, with public viewing areas as well as balconies. The first floor of the building will be accessible from Pier Gardens, giving a gracious nod back to how the pier was accessed when it was first constructed.
Other elements of the building hark back to the Art Deco seaside style and the buildings constructed around the resort at that time, such as the small retail kiosks on Central Prom, and the former Electricity Board showroom on Isaac’s Hill.
Work to deliver the three key schemes in Cleethorpes, the Sea Road building, Pier Gardens and Market Place, along with a small amount for signage, is being funded by HM Government.
Keepmoat signs lease on Alexandra Dock site in Grimsby
A lease that will result in new housing in the Alexandra Dock area of Grimsby has been signed with Doncaster-based homebuilder Keepmoat.
The 6.25-acre town centre site bordered by Fisherman’s Wharf and the River Freshney will eventually see a community of around 130 homes with supporting commercial accommodation.
The brownfield site has been the subject of consultation with developers in the housing market since November last year. This is a process where developers register an interest in the site, and then, through rounds of discussions, submit a final bid to take over the build lease of the site which then allows them to put in a planning application for their proposals.
Investment worth about £7.8m to support the development at this site has already been secured through the Government’s Towns Fund, and the build will be supported by brownfield funding secured as part of the Greater Lincolnshire devolution deal.
Cllr Philip Jackson, Leader of the council, said: “We want to create a place that connects the town and its community with its waterside, creating a fantastic urban living environment.
“North East Lincolnshire must develop as a place where people want to live and work. If that does not happen, we risk stagnating as a borough. We’re committed to making sure that does not happen.
“There’s a long way to go yet, and developments of this scale don’t happen overnight. But we are working to improve the town centre as a whole and this is part of that vision.
“We want people who work in our borough to also live here as this will maximise the economic benefits to the area.
“Step-by-step, along with other initiatives in the town centre, we’re changing how our town centre can be used safely, and enjoyed by everyone.”
Ben Hindley, Regional Land and Partnership Director at Keepmoat, Yorkshire East, added: “We’re excited to be working in partnership with the Council to regenerate a large parcel of brownfield land and deliver new homes in Grimsby.
“At Keepmoat we pride ourselves on supporting local authorities to achieve their housing targets and we are honoured to be the housebuilder of choice for this project, selected to create much needed quality housing stock for generations to come.
“We are approaching the project in the Alexandra Dock area of Grimsby with healthy life principles in mind, to ensure the scheme is not only visually appealing, but has plenty of available green spaces for walking, cycling and spending time outside.”
Strong levels of M&A activity expected in UK manufacturing
Strong levels of M&A activity are expected across UK manufacturing for the remainder of 2024, as dealmakers see a rise in business confidence.
According to accountancy and business advisory firm BDO LLP, M&A activity looks set to gain momentum in the final quarter of the year, as long as the political and tax backdrop remains conducive to dealmaking. However, reports of a potential rise in capital gains tax in next month’s Autumn Budget could impact sentiment towards M&A transactions.
BDO’s latest Manufacturing Deals Review shows that in the first half of 2024, 307 deals were completed in the sector, across the likes of engineering services, food & drink, building products and packaging and materials. Of these, 18% were buy-outs, with cross-border deals representing a third of transactions (34%).
Roger Buckley, Deal Advisory partner, Industrials and Manufacturing, at BDO, said: “While overall deal volumes remained relatively steady compared to 2023 figures, we expect to see strong levels of M&A activity over the coming months, with the market keeping a watchful eye on the Chancellor’s first Budget announcement at the end of October.
“Manufacturing remains one of the most resilient sectors, with a wide range of market drivers motivating M&A activity. This includes ESG, with the circular economy becoming a growing feature in manufacturing deals, reaching across all sub-sectors. Unsurprisingly, for the third year in a row, the sector has attracted the most circular economy-related investment, accounting for over a third of total deals by volume.”
In 2023, manufacturing saw a 25% increase in circular economy deal volumes, combined with the total deal value soaring to over £400 million of invested capital. The average disclosed deal size increased from £6.7 million to £12.2 million.
Buckley said: “The correlation between manufacturers making their businesses more sustainable and higher circular economy deal volumes is clear to see. More and more UK manufacturers are embracing circularity – a trend that is accelerating due to strong consumer attitudes towards sustainability and investors showing a significant interest in businesses addressing this issue.”
According to a BDO/Make UK survey of more than 200 SMEs in the sector, 40% of respondents believe that operating a circular business model will be more profitable than a linear model, suggesting an increase in manufacturers’ understanding of the economic benefits of circularity. The survey also showed that more than half of businesses (56%) plan to make circular changes in the next three years, with nearly a third (32%) stating that circular or sustainability credentials differentiate them from their competitors.
Rory McPherson, Deal Advisory partner at BDO, added: “Given the pace at which society’s attitude towards sustainability continues to change, it won’t be long before positive environmental credentials are seen as a minimum standard as opposed to a cherry on the top.
“For those who resist change without good reason, the lack of circular and sustainable practices will inevitably become a negative differentiator and dissuade customers from engaging. At the point the customer stops buying, it might be too late.”
Interest rates held at 5%
The Bank of England has held interest rates at 5%, in line with expectations.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%.
The news follows last month’s reduction in interest rates, which marked the first decrease in four years.
Alpesh Paleja, Interim Deputy Chief Economist, CBI, said: “The Monetary Policy Committee was widely expected to hold fire this month, after the first rate cut in four years in August. There remain very varied views among the MPC around the degree of inflation persistence, and over what horizon this will dissipate.
“Monetary policy will be walking a fine line for a little while yet: between balancing upside risks to inflation, but not being too tight, so as to choke off activity. Developments in fiscal policy in October’s Budget will also be a key consideration for growth prospects.
“We still anticipate another rate cut in November, and a few more next year, in line with the MPC moving at a slow but steady pace. On their own, lower interest rates will be a welcome respite to households and businesses.”
