Pre-tax profits soar at commercial real estate investor
Pre-tax profits have soared at Custodian REIT, the Leicester-based commercial real estate investment company, following “a period of significant recovery.”
According to final results for the year ended 31 March 2022, profit before tax has reached £122.3m at the firm, up from £3.7 in the prior year.
David Hunter, chairman of Custodian REIT, said: “The year to 31 March 2022 has been a period of significant recovery for the company’s net asset value and share price after the extreme challenges presented by the global pandemic.
“The recovery in NAV has been testament to the strength of the UK commercial property, allied to Custodian REIT’s focus on smaller regional property and the close management of the portfolio to maximise occupancy, rent collection, cash flow and earnings.
“Rent collection is back at pre-pandemic levels and tenants have honoured their deferred rent agreements allowing the Board to increase fully covered quarterly dividends to at least 5.5p in the forthcoming financial year.
“Although the impact of inflation and political uncertainty could lead to an economic downturn, we believe Custodian REIT’s portfolio, diversified by sector, geography and tenants, with low gearing will remain resilient in the face of any economic headwinds.”
SEMLEP “strongly encourages” Northamptonshire businesses to enter the East Midlands Bricks Awards 2022
The South East Midlands Local Enterprise Partnership (SEMLEP) is strongly encouraging Northamptonshire property and construction businesses to put themselves forward for the East Midlands Bricks Awards 2022.
Vicky Hlomuka, SEMLEP’s Growth Hub Manager, said: “The construction industry is a significant and vital contributor to the economy of the South East Midlands, and we’re lucky to have numerous innovative, highly successful businesses within the region.
“The East Midlands Bricks Awards are a wonderful way to celebrate the great things the sector has achieved in the last year, and I strongly encourage Northamptonshire businesses to put themselves and others forwards for the recognition that they deserve.”
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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. Dress code is standard business attire.
To be held at:
Study to investigate ‘invisible’ women in supply chains receives almost £1.3m in funding
An academic at the University of Nottingham has been awarded almost £1.3 million to investigate the specific threats posed to female garment workers in supply chains across the world.
Dr Sabina Lawreniuk has been recognised by the prestigious UK Research and Innovation (UKRI) Future Leaders Fellowship programme and is among 84 promising early career researchers that have received a fellowship today, totalling £98 million.
The four-year research project will examine garment manufacturing in the Midlands, UK, as well as in Cambodia, Ethiopia and Jordan. These four producer countries represent different sites in the evolution of supply chain outsourcing, where 1 million people work, making clothes and shoes for leading UK brands including Marks and Spencer, Topshop and ASOS.
Dr Lawreniuk said: “Worldwide, 70 million people work producing clothing and shoes – 80% of these workers are women. The industry is worth US$2 trillion per year, yet workers receive poverty wages to live and work in dangerous conditions, with malnutrition, mass fainting, reproductive and mental health crises, and sexual and physical abuse all reported to be commonplace.
“Although workers in supply chains are vital to our everyday lives, we know very little about the women who make our clothes and shoes. Gendered data is not available and so these women are simply invisible.
“Without systemic data, the problems that lessen women’s quality of life in the garment industry are not fully known and are therefore hard to address. This Fellowship addresses this knowledge and practice gap by generating evidence and promoting action on the specific threats posed to female garment workers.”
Dr Lawreniuk will build a team of early career researchers in the School of Geography to conduct the investigation, who will work alongside Dr Nik Hammer at the University of Leicester and in-country partners in each of three international locations.
The study will include in-depth and ethnographic investigation of women’s health and wellbeing at 8 industrial sites in each country, before examining the (inter)national organisation of labour and trade governance, to understand the institutional processes that make and unmake healthy working bodies.
By assessing a cross-section of the global workforce, the team hope to identify the complex, more-than-local factors that perpetuate women’s vulnerability in garment work and target action to address the systemic causes of inequity within supply chains.
Professor Dame Ottoline Leyser, UKRI Chief Executive, said: “The Future Leaders Fellowships provide researchers and innovators with the freedom and generous long-term support to progress adventurous new ideas, and to move across disciplinary boundaries and between academia and industry.
“The fellows announced today provide shining examples of the talented researchers and innovators across every discipline attracted to pursue their ideas in universities and businesses throughout the UK, with the potential to deliver transformative research that can be felt across society and the economy.”
How to grow your business in the year ahead
Growth is important for your business, but it’s just as important that you do it the right way. Grow too quickly or in the wrong direction and you could lose all the momentum you’ve created. The tips below can help you expand your business in a way that’s smart and balanced between overly cautious and too risky.
Have a Plan
It’s surprising how many businesses start expanding without a plan. This happens when you are reactive rather than proactive. Of course, growth often happens in response to demand. If you have more customers than you can manage, you may need to move to a larger space or hire more staff. However, you should have a vision of where your business is going and how you will continue to fulfill your mission statement. Some of this comes down to your initial planning when you first open the business, but you also need to be prepared to pivot and set new goals as things change.Attend to Your Fleet
If a fleet is part of your business or is going to be as you grow, it’s critical that you have the right technology to track your vehicles and ensure that your drivers are operating safely and you are keeping costs down as much as possible. Included in this should be a tachograph, which offers live status and allows you to ensure that your fleet remains compliant. Tracking technology can also help to reduce the amount of paperwork that your drivers are required to do.Talk to People
What do your customers want? What do your employees want? Finding out can help you determine the direction that you need to go in and what new processes or equipment you may need. Another common error of businesses is expanding in a direction that customers aren’t interested in. There’s no point in introducing a new product line or a service that has no demand. Top-down efforts at improvements can also cause problems for employees sometimes if they are made by executives who do not understand the daily tasks of workers and where their challenges lie. Getting input from all shareholders gives you more of the insight you need to grow the right way.Consider a Loyalty Program
Depending on the nature of your business, consider a loyalty program. This can help you track your most loyal customers and better understand their behaviors and what motivates them. These can also be among the most valuable customers that you retain since they are usually the ones who also tend to spend the most. If you tend to work closely with a smaller number of clients and a loyalty program does not fit your business, consider whether there are other ways you could reward your best clients. Maybe you could offer bulk discounts or particular services only to them.Build Your Customer Base
Instead of or in addition to a loyalty program, you could look at how to increase the number of clients or customers you have. Depending on the nature of your business, an email newsletter, a strong digital marketing campaign or a more traditional approach to advertising might be an appropriate strategy.A perfect day for networking: the East Midlands Expo returns this November
On Monday 14 November 2022 the East Midlands Expo will return, providing a perfect day for networking and business generation – meet more potential clients in one amazing cost effective day, than it would take months out on the road.
An established event of over 20 years, for which Business Link is a proud partner, the free to attend expo is well targeted and aimed at the construction, property, business, investment, finance, professional services and related B2B markets.
Taking place at the De Vere East Midlands Conference Centre, Nottingham, the exhibition will open to attendees at 9am, with a seminar taking place between 10:45am and noon.
A special networking lunch (for which tickets can be purchased here) will then take place between 12:15pm and 2:15pm, and the exhibition will close at 3:30pm.
For more information on exhibiting at the event click here.
To register to attend the event for free click here.
To secure tickets for the networking lunch click here.
“Spectacular” National Licensing Week Event returns to Nottingham
Licensing Law Consultancy (LLC) has hosted its National Licensing Week Event 2022 in Nottingham, an event described as spectacular.
The National Licensing Week Event was conceived and first delivered in June 2019 by Walaiti Rathore and Licensing Law Consultancy.
The purpose was to support the Institute of Licensing’s annual National Licensing Week campaign, with a large scale national event to celebrate and raise awareness of licensing and the role it plays in everyday lives.
The chair of the Institute of Licensing, Dan Davies said: “I am delighted to support this event and I thank Walaiti Rathore for having the vision and energy to make this happen.”
This year’s event, an invitation only black tie celebration, was held at Alea and was attended by representatives of the Institute of Licensing, directors of UK Hospitality and the Confederation of British Industry, Nottingham BID, Pub Watch, Hospitality Association, leading operators with a local and national presence, representatives from international hospitality brands as well as leading businesses and professionals from all sectors.
Guests were treated to canapes, a three course meal, unlimited complimentary drinks all evening, spectacular entertainment acts and music, and received designer gifts on departure from fashion designer Paul Smith.
The evening was compered by Bikram Rathore, who gave an overview of the current landscape and positive outlook of the hospitality sector as per a recent research briefing issued by the House of Commons Library, before introducing guest speakers, Jim Cathcart, director of policy and regulation for UK Hospitality, and Amy English, chief inspector of Nottinghamshire Police for the city centre.
Both speakers emphasised the importance of partnership working to help overcome the current challenges faced in hospitality and licensing, to ensure vibrancy and safety in businesses as well as in our communities.
Walaiti Rathore said: “I am humbled, once again, by all the guests who attended as it would not have been possible without them, some of whom travelled long distances to Nottingham to support LLC and this event.
“Once again the idea was to involve representatives or members of organisations within or closely connected to licensing and also people from businesses and professionals with no such connections. This has proved to be the best way to reach out to the wider public.
“A special mention for Nottingham BID, PIB Insurance and Alea for their incredible support as well as Micheal Wisher Team Support, Chaiiwala, Equinox Audio Visual and Freedom Brewery. Also, a special thanks to Dan Carver of Fletcher Gate Industries.”
How to effectively manage your warehouse
A warehouse is critical for any company that stores or ships products. Many businesses rely on their warehouse to manage inventory and fulfil orders. So, if you’re new to the management role of a warehouse, it can be difficult to know where to begin.
Efficient management of your warehouse can help maximize productivity and improve profits. You’d want to ensure security in your warehouse, for example, or ensure that everything is well fixed as it should. To make your life easier and your work fun, you may even visit ESE Direct to find essential tools to improve productivity.
You can also apply these tips to manage your warehouse effectively:
Become Familiar With Warehouse Management Software
Warehouse management software is one of the best ways to keep track of inventory and ensure that it doesn’t get lost or damaged during shipping. For starters, the software you’d choose should be compatible with any other technology (like barcode scanners) you already have. If they aren’t compatible, then they won’t be able to interact in any meaningful way.
You should also ensure that it’s easy for employees who use it regularly. And most importantly, ensure the price tag isn’t too high to not negatively impact other areas of business revenue generation like marketing or sales efforts.
Create A Warehouse Layout That Makes Sense
This is more important than you might think. A well-planned warehouse layout will make your workers more efficient and safer in the long run—and it can also help you streamline your entire operation. For example, a logical layout will make it easy for employees to find what they need without wasting time or effort.
An efficient layout means that workers spend less time traveling between areas of the warehouse and complete their tasks faster. An easy-to-understand layout will also make it easy for new employees to learn how things work. All these will allow flexibility in the entire system for product inventory needs.
Implement A Warehouse Organization System
The warehouse organization system is the foundation for a highly efficient and productive warehouse. There are several ways you can implement a warehouse system, depending on your current setup. In a world where warehouses are like an investment, you can redesign your current layout from scratch, especially if you’ve been in business for more than two years.
You can also modify an existing layout by adding additional racks or shelves. This will boost your warehouse’s value and make your business efficient.
Establish Clear Operating Procedures
Operating procedures are essential because they provide a step-by-step guide on how to complete tasks in your warehouse and what to do if something goes wrong. These written instructions should be communicated to all employees and updated regularly to keep up with any changes or new equipment being introduced. When writing procedures, be sure they’re easy to understand and follow.
Track Key Performance Indicators
Key performance indicators (KPIs) are the metrics you use to measure your warehouse’s performance. Tracking these KPIs helps you identify areas of improvement and take actionable steps towards achieving them. For example, if you want to reduce the number of bad inventory pieces in your warehouse, you may track how many customers per month returned defective items. This way, when it’s time to make decisions about the future of your warehouse operations, you can see what has worked and what hasn’t worked so well.
You may also want to consider the inventory turnover ratio. How long does it take for an item in storage to be sold or used up for its intended purpose?
Improve Worker Productivity
First, ensure that your employees are well trained and know their expectations. You should also provide clear instructions for each task and ensure your tools and equipment are easy to use. If you want them to improve their work, you can set goals and reward employees when they reach them.
For example, if you’ve been struggling with productivity, you could offer a bonus at the end of each month to the employee who makes the highest number of products or moves more boxes per hour than anyone else in your warehouse. This doesn’t mean your work environment should be toxic; you can set any other reasonable and work-friendly metric to boost their productivity. You can also maximize their productivity by encouraging them and providing feedback. It helps them know how well they’re doing to keep improving at their jobs over time.
Conclusion
You can efficiently manage your warehouse with some basic strategies. Having adequate space for all the goods that need to be stored is a sure way to make your warehouse work-friendly and navigable. You must also be creative with your layout and organize your inventory to make things run smoothly. With everything in place, you’ll be able to keep everyone on the same page and improve worker productivity.
‘Huge unease’ among businesses as rising interest rates hamper investment prospects
The Bank of England has announced that interest rates will rise from 1% to 1.25%, as it tries to get a handle on soaring inflation, which is currently at a 40-year high of 9%, and could surpass 11% later this year, according to the Bank.
The Bank said rising energy prices were expected to drive living costs even higher in October, but added it would “act forcefully” if necessary should inflation pressures persist.
David Bharier, head of research at the British Chambers of Commerce (BCC), said: “While expected, the decision to raise the interest rate will add further concern to businesses amid a weakened economic outlook, soaring cost pressures, and labour shortages.
“The increase signals the Bank’s intention to tackle inflation but businesses have been raising the alarm about spiralling prices since the start of 2021 and a higher interest rate is unlikely to address many of the global causes of this.
“The increase could impact smaller businesses who may be reliant on banking or overdraft facilities, for instance, those buying goods in bulk in an attempt to offset raw material shortages.”
East Midlands Chamber Chief Executive Scott Knowles said: “Many businesses will have been expecting yet another hike to interest rates to combat spiralling inflationary pressures, but this doesn’t detract from the huge unease they will be feeling about the direction of travel, as the Bank of England appears to be overseeing a prolonged period of aggressive monetary tightening.
“Against a backdrop of continued domestic and global headwinds that are causing a very real cost of doing business crisis – which we can see is now seriously affecting the economy with output falling by 0.3% in April – we should be backing firms to invest in order to make the productivity gains that will drive the growth we desperately need.
“By hiking interest rates, businesses face another barrier to spending as the price of debt accelerates. Our latest Quarterly Economic Survey for Q2 2022 showed that investment intentions in plant and machinery among East Midlands firms fell by 6% compared to the previous quarter.
“At the same time, intentions for investing in training – something of major importance during a time when four in five businesses attempting to recruit are struggling to find the skills they need – dropped by 3%.
“Declining business investment is a serious cause for concern and urgent Government action is needed to halt this fall. Cutting VAT on companies’ energy bills to 5% would ease the squeeze on their cashflow and give some room for manoeuvre.”
Inspector dismisses planning appeal in homes bid for Mansfield quarry
A planning inspector has dismissed an appeal by a landowner seeking to build 204 houses at Gregory Quarry in Mansfield.
Lee O’Connor appealed against a decision last year (6 July) by Mansfield District Council Planning Applications Committee to refuse outline planning permission for the development with access off Quarry Lane.
A four-day inquiry was held in April at Mansfield Civic Centre during which Siobhan Watson, of the Government’s Planning Inspectorate, heard evidence for and against the development.
Her 10-page decision was issued on Tuesday 14 June and concluded: “Whilst there are some benefits to the scheme, including the provision of market and affordable housing, these do not outweigh the cumulative harm I have found.
“The loss of the GI [Green Infrastructure], whatever type of habitat existed, and the harm to LG [Local Greenspace] and COS [Community Open Space] are sufficient to make the scheme unacceptable even without the additional biodiversity harm.
“The proposal therefore conflicts with the development plan as a whole and does not represent sustainable development.”
The Inquiry heard in April that the development was contrary to the council Local Plan designations on GI and would have an impact on the biodiversity of an important area of peaceful habitat supporting, among other species, certain rare varieties of bat.
The Inspector also decided it would have detracted from the quality of local green spaces – namely Quarry Lane Local Nature Reserve (LNR) – which her report said provided a unique place for school trips and family outings within a heavily built-up area.
She said the quarry and nearby LNR and River Maun Local Wildlife Site (LWS) and the Maun Woodland and Scrub LWS remained important habitats for invertebrates and bats, even though Gregory Quarry had been largely cleared of vegetation before the inquiry.
The inspector said bat surveys that were carried out had been inadequate but still showed that the site was an important foraging habitat for a significant variety of bats. Seven species were spotted, including the rare Leisler’s bat and the serotine species, which is extremely rare in Nottinghamshire and has only been recorded five times in 15 years.
The inspector also pointed to a “clear policy conflict” with the council’s Local Plan as it would involve the loss of a significant area of GI in central Mansfield.
Cllr Stuart Richardson, portfolio holder for regeneration and growth, said: “We are pleased that this decision has recognised the importance and value of retaining areas of green space within an urban environment.
“Even though this quarry is not open to the public, it still represents a valuable natural asset in this part of Mansfield and its continued presence also enhances the quality of local green and open spaces around it.
“Yes, we need more houses – like everywhere in England – but this should not be at any cost. Green corridors are also an important feature of any urban landscape.”
Plans approved for extension of Lincoln business park
North Kesteven District Council has approved plans for a third phase of Kirk’s Yard in Branston, Lincoln.
Kirk’s Yard is a 2.4-acre business park, located approximately 4 miles from Lincoln City Centre, which has been developed by local commercial property developer, Stirlin.
Stirlin completed the first phase of Kirk’s Yard back in March 2019, which comprises 6 industrial units, ranging in size, from 1,000 sq ft to 1,400 sq ft.
Due to high demand, this was swiftly followed with a second phase, which provided 5 more units at slightly larger sizes, ranging from 1,507 sq ft – 2,005 sq ft.
Following the success of these phases, with all units now occupied by a variety of growing businesses, Stirlin have been given the go-ahead to extend the site and construct a further 10 units.
Phase 3 will provide industrial units ranging in sizes from 1,507 sq ft – 2,005 sq ft. Each unit will be built to a high specification, providing warehouse space with an electric sectional door and personnel door, DDA compliant toilet facility and allocated parking spaces.
Managing Director of Stirlin, Tony Lawton, says: “We’re delighted to receive planning approval for a third phase at Kirk’s Yard. Following the significant interest we received for the first two phases, with all units now sold, we’ve seen a strong demand for new employment space in the area.
“The site has proven extremely popular, particularly due to its easy access to the new Lincoln Eastern Bypass, which allows people to avoid traffic congestion in the City Centre.”
Jamie Thorpe, chartered surveyor at the site’s sole estate agency, Pygott & Crone, says: “Stirlin’s development of Kirks Yard in Branston has been hugely successful. Phase 2 saw all units sell off-plan well in advance of build completion and we are experiencing pent up demand in this location, with a waiting list of enquires. It comes as no surprise that the Local Authority welcomed a much-needed extension to the business park that will facilitate business growth and job creation in the area.”
Tony continues: “In addition to this scheme, we have numerous other new developments and phases on the horizon. We are continuously exploring opportunities to provide more space to facilitate growing businesses and bring further employment to the county.”
Construction of the new phase on Kirk’s Yard is due to start on site in the coming months, with further details to be announced very soon.
