Business Gateway recruits citizen of change to support Leicestershire’s black business community
Leicestershire’s Business Gateway has recruited an intern from the University of Leicester to help it support the local black business community more effectively. Omolara (Lara) Anubi (20) is in the second year of her Media, Culture and Society degree at the University and is part of the University’s Citizens of Change programme.
The Business Gateway, which is the one-stop-shop for support for all businesses across the city and county, aims to ensure that more black business owners take up its services to help them survive during current challenging times and achieve sustainable growth in the future.
Business Gateway manager, Rachel York, explained: “We felt that black businesses were under-represented among our clients and that our small team didn’t have the knowledge it needed. When we heard about the Citizens of Change programme, we saw it as an excellent opportunity to recruit an intern from the community we are hoping to reach so that they can research the needs of those businesses in an informed way.
“We are very fortunate in that several leading figures from the local black community have agreed to share their knowledge with Lara so that she can give us a full picture of what is needed and how best to provide it in future.”
Intern Lara, who is originally from Oxford, said: “I’m very happy to be gaining experience in my degree subject area and really looking forward to interviewing some of Leicester’s leading black community figures. I think it will be a fascinating experience and if my report can help local businesses, that will be brilliant.”
Financial adviser snaps up Oxford counterpart
Wren Sterling Group, the Nottingham-based providers of specialist financial planning advice to private and corporate clients, has acquired Critchleys Financial Planning LLP.
Under the terms of the deal, the Critchleys Financial Planning LLP team, led by Jason McGuigan, have been welcomed into Wren Sterling, along with their clients who between them represent c. 300 households and c. £150 million of assets under management.
The transaction is Wren Sterling’s second announced deal since its secondary management buyout by Lightyear Capital in late 2021. This follows its announcement of the acquisition of Mutual Financial Management in early June, which together with Critchleys Financial Planning LLP, will add a total of £825m of AuM to the business.
The rebranded business will provide Wren Sterling with a new hub in Oxfordshire to complement its eight other locations around the UK, from which it intends to make further bolt-on acquisitions. The acquisition is in-line with Wren Sterling’s M&A strategy of acquiring culturally-aligned businesses as hub locations in key strategic locations such as London, Edinburgh, Birmingham and Bristol as well as smaller bolt-on acquisitions to existing hubs.
This strategy complements its plan to accelerate its organic growth through improving its brand and proposition, simplifying its business and investing in its people and technology.
James Twining, Wren Sterling’s Chief Executive, said: “I’m delighted to welcome the Critchleys Financial Planning team and their clients to Wren Sterling. Jason and the team have done a phenomenal job for their clients over the years, building a business of ambition and excellence that perfectly aligns to our own approach.
“The UK IFA market encompasses many excellent businesses deciding that now is the time to look for new investors, either to facilitate their own retirement or because they see that their clients stand to benefit significantly from the support of a larger organisation in the face of mounting regulatory, operational and technology costs and complexity.
“This deal shows that Wren Sterling is the natural home for entrepreneurial businesses looking to enhance how they serve their clients, develop their people and be part of a winning and distinctive team.”
Jason McGuigan, Critchleys Financial Planning LLP’s principal financial planner, said: “It was important to us, when considering our future, that we partnered with an organisation that shared our core values of putting the client at the heart of everything we do. It was clear from our very first meeting with Wren Sterling, that this is central to their DNA.
“Thanks to our new partnership, we will be able to strengthen our offering to clients and continue to develop and invest in our people. We also have the exciting opportunity to expand the business further through hiring and bolt-on acquisitions in the Oxford and Thames Valley regions.”
Pandemic-born businesses could add £20.4bn to UK economy
More than £20 billion could be added to the UK economy in future from the number of additional businesses created during the pandemic, fresh data from a joint report by CBI Economics & NatWest Group reveals today (Thursday).
Some 800,000 companies were registered in the first year of the pandemic, a 22% increase compared with the previous year.
Compared with its international peers, the UK is a proven hub for entrepreneurship. Pre-pandemic the number of new businesses created as a share of total firms was 13%, higher than the U.S. (8%) and Germany (11%). Historically, the success and survival of these firms is also well established. In 2018, the one-year survival rate for new business was 89% – around nine percentage points higher than the EU average.
To gain greater insights about the hitherto little-known experience of pandemic-born firms, CBI Economics surveyed 543 firms. Key findings include:
- Only 13% cited regulation as a challenge when starting their business.
- Access to finance was a key concern for many burgeoning business leaders, with 55% highlighting this post 2020, compared with 42% pre-COVID.
- 4 in 5 firms report no plans to wind down their business.
- Pandemic-born businesses are more likely to say it is important to adopt the newest technologies compared to their pre-pandemic counterparts (56% versus 71%).
- Pandemic-born businesses are 20% more likely to use both sustainable materials and suppliers, compared with firms established prior 2020.
Boris Johnson expected to resign today
According to sources within the Government, Boris Johnson will resign today – although he may remain as PM until Autumn. A spokesperson for No.10 has said that the Prime Minister will make a statement to the country today.
This follows a raft of resignations including Rishi Sunak, Sajid Javid and Andrew Murrison among others. Newly instated Chancellor Nadhim Zahawi even explosively told the Prime Minister that “he must go now” after accepting the position.
Business leaders are expected to react on the matter after it happens, and we will report on that – if anything – the resignation will mean for businesses in the region. As of yet, a replacement PM has not been selected, though it has even been suggested that Theresa May could return as temporary (or interim) PM. Others have suggested Raab will make a more likely candidate.
New garden village takes step forward as 460 acres of Leicestershire land sold
Plans for a new garden village have moved a step closer after regional agents concluded a sale on circa 460 acres of land in North Leicestershire, representing one of the East Midlands’ largest and most complex land deals.
Acting on behalf of two private landowning families, agents Wells McFarlane, APB and Newton LDP secured the sale of land north of the A46, between Birstall and Rothley, to local housebuilders, Davidsons Homes and Barwood Homes for an undisclosed sum.
A spokesperson for the three agents said: “This sale has been a decade in the making, requiring extensive collaboration and local knowledge to navigate the complexities associated with a scheme of this scale. From the outset, the project was encumbered with significant and numerous challenges including a demanding planning background and highly technical design and infrastructure requirements.
“However, the team addressed the various hurdles to bring forward this substantial new community that will provide much-needed housing together with employment land, education and a new district centre.”
Included in Charnwood Borough Council’s local plan, the Broadnook Garden Village development will comprise 1,950 homes (including 319 affordable), 15 hectares of employment land, a local centre with supermarket and community facilities, a primary school, assisted living retirement village comprising 175 homes and a 70-bed care home, sports facilities, natural open spaces, play areas, allotments, cycle routes and footpaths.
The spokesperson continues: “Broadnook Garden Village has been designed and planned as a self-supporting entity of exceptional quality. Strategic sites like this require continuity, so it was important to assemble a team with widespread understanding of the local market to complete a transaction of this size and scale.
“By uniting three independent, specialist firms, this landmark project has benefitted from multiple resources and a broad range of expertise in rural matters, estate management, planning and development needed to finalise one of the most significant land sales within the region.”
A hybrid application was approved by Charnwood Borough Council’s planning committee in 2020, with the development backed by funding from Homes England to support infrastructure improvements. The scheme will provide a boost to the local economy with significant job creation, and developers also providing substantial Section 106 contributions.
James Wilson, group Managing Director at Davidsons Homes, said: “The agents, Trevor Wells from Wells McFarlane, James Phillips from APB and Richard Foxon from Newton LDP Limited were a pleasure to deal with.
“We have been working on this project for a very long time and, as with any big transaction, there have been many problems to overcome and the agents have acted with fantastic professionalism to help us problem solve in order to make this transaction happen.
“We look forward to seeing Broadnook become a wonderful place and an asset to the area, and we take with great responsibility the task to deliver this over the coming years and potentially decades.”
Construction work is expected to begin later this year.
Nottinghamshire land parcel set for second phase of residential scheme sold for £10m
Harworth Group has sold two residential land parcels at its Waverley and Thoresby Vale developments to Barratt and David Wilson Homes, for a total consideration of £39 million.
At Thoresby Vale in Nottinghamshire, Harworth has exchanged on the sale of serviced land capable of delivering 174 homes, for £10 million.
This represents the second phase of the Thoresby Vale development, following the sale of two land parcels at the site to Harron Homes and Barratt and David Wilson Homes in 2019 and 2020 respectively.
Alongside the new homes, Barratt and David Wilson Homes will provide a new surface water attenuation pond and a multi-use path and associated landscaping, which will enhance connectivity and link to the site’s planned primary school and local centre, for which site preparation works are currently underway.
Meanwhile at Waverley in South Yorkshire, Harworth has competed a £29 million land sale which will see the delivery of approximately 450 homes. The new homes will represent Barratt and David Wilson Homes’ fifth phase at the site.
Andrew Blackshaw, chief operating officer, Harworth Group plc, said: “Barratt and David Wilson Homes is a trusted and valued partner to Harworth, and we are pleased to be developing our relationship with these two significant land sales. Harworth is particularly well-placed in volatile markets as our serviced land provides housebuilders with a product which is de-risked and ready to build on from day one.
“The acceleration of both our Waverley and Thoresby Vale sites will see Harworth stepping through its strategy to take advantage of the placemaking and levelling up that these schemes ultimately bring to these communities. In addition, these sales will enhance the maturation of these socially diverse neighbourhoods when delivered alongside our recently launched single family Build to Rent product, Project Spur.”
Derby City Council welcomes the return of the East Midlands Bricks Awards
As nominations gather pace, Derby City Council has welcomed the return of the East Midlands Bricks Awards for 2022.
Councillor Steve Hassall, Cabinet Member for Regeneration, Decarbonisation & Strategic Planning and Transport at Derby City Council, said: “As Derby embarks on a major programme of regeneration, with a specific emphasis on the city centre, harnessing the resources and expertise of the regional property and construction supply chain will clearly be key to achieving our ambitions.
“We welcome the return of the East Midlands Bricks Awards, which is a good opportunity to recognise the excellent work of our developer partners and hope they make the shortlist.”
Thanks to our sponsors:
If you haven’t submitted your nominations yet, now is the ideal time.
The East Midlands Bricks Awards celebrate the region’s property and construction industry, its people, and exceptional developments, and provide the perfect opportunity to shine a light on your team, reward their hard work, and boost morale. Winners will be revealed at a glittering awards ceremony on Thursday 15 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of time to forge new contacts with property and construction professionals from across the region. To submit a business or development for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner (this award cannot be entered, the winner will be selected from those nominated)
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region. The event will also welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker, as well as award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking. Dress code is standard business attire.
To be held at:
£1.1bn Ideagen acquisition completes
Hg’s acquisition of Ideagen has completed, seeing the firm become a private company once again with trading in Ideagen Shares on AIM being suspended today and the cancellation of trading of Ideagen Shares on AIM expected to take place on 8 July.
As a result of the deal, Ideagen non-executive directors Julian Clough, Alan Carroll and Tony Rodriguez have now resigned, while Richard Longdon will remain on the Ideagen Board. Chris Bayne, currently serving as CEO on the management team of software business Access Group, is to join the Nottinghamshire-based business’s Board.
Ben Dorks, Ideagen CEO, said: “We are on an exciting journey of growth and progression, one that continues to deliver solutions to help improve operational efficiency, maintain compliance, manage risk and keep people safe. This new relationship with Hg will give us the ability to accelerate even faster, serve our customers better and scale our business further across the globe.”
Ben added: “I’m looking forward to working with Chris and know he will bring valuable sector knowledge to the table. I’m also delighted to be able to continue to work with Richard Longdon, who has agreed to remain on the Board – and thank those non-executive directors who are subsequently stepping down, including Julian Clough, Alan Carroll and Tony Rodriguez.
“Your support and guidance has been invaluable, helping to get us to this point in our growth journey and I know I personally have benefitted from your challenge and counsel. It has been a pleasure to work alongside you.”
Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, partners at Hg, said: “We are delighted that our acquisition of Ideagen has now completed. We are excited about what the future has in store for our partnership with the company.
“Ben and the team will now have greater flexibility to execute and accelerate longer term growth plans, including investments in product, technology, talent and large scale, accretive acquisitions. Together we are in a great position and remain committed to ensuring that Ideagen maintains and grows as a leader in the sector.”
Revenue soars at Mattioli Woods following recent acquisitions
Mattioli Woods, the specialist wealth and asset management business, has reported “strong” revenue growth in a new trading update released ahead of final results for the year ended 31 May 2022.
Revenues are up over 70% on its prior year, which the firm says reflects the impact of recent acquisitions plus strong organic revenue growth of 10%.
Meanwhile profit is in line with management’s expectations.
Ian Mattioli MBE, Chief Executive, says: “The last financial year was another period of economic and market uncertainty, throughout which we remained true to our purpose of putting clients first. I am pleased to report this focus has delivered strong revenue and profit growth, representing meaningful progress towards our ambitious strategic goals.
“Revenue was up over 70% on the prior year, reflecting the contribution of recent acquisitions and double-digit organic growth, with the increased levels of new business written and a strong pipeline of new business enquiries offsetting the impact of negative market movements on the value of client assets.
“Acquisitions completed during the year, together with those completed in the prior year continue to trade ahead of our initial expectations, including the Group’s two largest acquisitions to date of Maven Capital Partners and Ludlow Wealth Management.”
He continued: “We expect the challenging macroeconomic conditions to drive an increasing demand for advice from clients, which will underpin growth in pensions and advice business. Like the rest of the UK wealth management sector, we expect market movements in the first half of this calendar year to negatively impact the Group’s investment-related revenues relative to our expectations prior to Russia’s invasion of Ukraine, partially mitigating some of the anticipated revenue gains in our pensions and advisory business.
“However, the spectre of rising inflation typically creates an opportunity for further investment inflows as existing and prospective clients consider appropriately investing surplus cash to avoid suffering an erosion in value of savings in real terms.
“Despite ongoing management actions to mitigate costs, we expect Inflationary pressures to continue to impact employment costs, professional costs and occupancy costs across our office network. The Board will continue to take a rigorous and proactive approach to the management of costs.
“We expect further consolidation within the wealth and asset management sector, and continue to see many new acquisition opportunities coming to market. We will continue to assess and progress bolt-on opportunities as well as potentially more substantial opportunities in the longer term, with all potential transactions required to meet our strict investment criteria and due diligence procedures.”
Ian Mattioli MBE added: “The Group’s trading outlook for the new financial year remains positive, with revenues slightly ahead of management expectations, notwithstanding the challenging macroeconomic conditions that we, our clients and the industry face. Inflationary pressures are therefore expected to impact on our margins in the short term. We remain confident in our ability to deliver double-digit revenue growth and long-term sustainable shareholder returns.”
Nottingham apartment scheme reaches practical completion
Hindle House on Traffic Street in Nottingham, which has been developed by KMRE Group Ltd, has reached practical completion.
The new three-storey scheme sees 62 contemporary one and two-bedroom apartments brought to market, of which only 9 properties remain available for sale, including top floor penthouses.
Areas surrounding the development are undergoing extensive regeneration, opening up previously underused parts bordering Nottingham city centre – as well as the ongoing redevelopment of Broadmarsh shopping centre, which will likely see the site split into different zones for residential, retail and commercial developments as well as green spaces.
Julia Day, sales and development progression manager at KMRE Ltd, said: “We’re very pleased to see works at Hindle House reach practical completion, with the majority of the properties selling off plan very quickly. Only a handful of these modern apartments remain available, including spacious penthouses which boast excellent views.
“This development’s location is very well-connected to transport links and the rest of the city, making it an ideal place to live for professionals and those who commute further afield with Nottingham Railway Station conveniently close by.
“Nottingham itself is a thriving and bustling city – and is home to many major employers and company head offices, including Queens Medical Centre, the University of Nottingham and Nottingham Trent University, Boots, Experian, HMRC and Capital One. The development also offers close proximity to Castle Marina retail park and NG2 business parks, with Nottingham’s canal network, the River Trent and Victoria Embankment beauty spots within walking distance.
“As our second scheme in the city, the first being our 81-home luxury apartment development known as The Yacht Club situated on the banks of the River Trent, we are proud to be investing in the city to bring quality new homes to the area.”
