Frasers Group acquires 160,000 sq ft shopping centre

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Shirebrook-based Frasers Group has acquired St Nicholas Arcade in Lancaster, strengthening its commitment to physical retail in the UK. The 160,000 sq ft shopping centre is a key retail destination in the historic heart of Lancaster, and home to major UK high street tenants. With an annual footfall of almost 4 million visitors, this acquisition reinforces Frasers’ focus on expanding its real estate portfolio in the UK. Michael Murray, CEO of Frasers Group plc, said: “At Frasers, we have always been strong believers in physical retail, and this acquisition demonstrates our ongoing commitment to supporting brick-and-mortar in the UK. “By acquiring key retail sites, we are able to unlock new growth opportunities and revitalise high streets across the country, delivering unparalleled shopping experiences for consumers. This acquisition is also another step in developing our Property segment, which is set to deliver significant long-term value for the Group.” Frasers Group was advised by James Keany, Executive Director, Head of National Agency at CBRE on this acquisition.

Manx Financial Group acquires remaining interest in Leicestershire firm

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Manx Financial Group, the holding company providing diversified financial services to the Isle of Man and the United Kingdom, has acquired the remaining 49.9% interest in Leicestershire-based Payment Assist. The Group will now hold 100% of Payment Assist.

On 16 May 2022, the Group announced an agreement to acquire a 50.1% interest in Payment Assist by Manx Ventures, a wholly owned subsidiary. The Group also announced Manx Ventures had entered into an Option to acquire the remaining shareholding in Payment Assist for £5 million at any time for a period of two years after publication by Payment Assist of its audited accounts for the period to 31 December 2024.

Neil Jeffery and Colin Ellard are set to resign as directors of Payment Assist, whilst Group employees James Smeed and Marcus Gregory will remain on the Board of Directors. Mr Jeffrey will be retained on a consultancy arrangement.

Commenting on the acquisition, Douglas Grant, CEO of the Group, said: “We have worked with Payment Assist for over nine years through our banking subsidiary, Conister Bank Limited and held a majority stake in the business for over two years.

“During this time, we have grown the business, and it now makes sound financial sense for the Group to bring forward its opportunity to acquire the remaining shareholding. Payment Assist’s customer focused, short-term lending products remain in great demand during these uncertain economic times.

“This is a major acquisition for the Group, not only in terms of deploying our liquidity safely, but also in continuing to progress our growth strategy in niche markets.”

Drinks business awarded £100,000 grant to drive sustainability at distribution centre

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Global Brands Ltd has been awarded a £100,000 grant from the Clay Cross Town Deal’s Low Carbon Challenge Fund, set to support its sustainability strategy. The funding will be used to introduce state-of-the-art energy-efficient technologies at Global Brands’ Clay Cross distribution centre, accelerating its efforts to reduce its carbon footprint and achieve coveted net zero status by 2050. The grant will facilitate three crucial elements: the installation of energy-efficient lighting, deployment of battery storage solutions to harness solar energy, and the creation of an onsite Hydrotreated Vegetable Oil (HVO) fuelling station. These measures are expected to substantially reduce emissions from Global Brands’ distribution operations, with the drinks business already aiming for a 40% cut per £M turnover by 2030, as well as a 92% reduction per £M turnover by 2050. Shaun Bacon, Group Managing and Financial Director at Global Brands, said: “This investment marks another pivotal moment in our sustainability journey. As part of a single-use industry, it is crucial to lead by example and adopt meaningful changes that reduce our environmental impact. “By switching to energy-efficient solutions and alternative fuels, we’re committed to doing our bit locally and hope to inspire other businesses in our community to do the same.” The grant bolsters Global Brands’ existing sustainability strategy, which includes transitioning to a fully electric and HVO-powered fleet, using 100% renewable electricity by 2025, and partnering with suppliers who are equally committed to decarbonisation. The business recently became members of SEDEX, a move that will further enhance its ability to manage supply chain sustainability. Shaun continued: “With plans already in place to switch the entire logistics fleet to zero-carbon by 2050, and with over 50% of the warehouse energy now powered by solar panels, this funding allows Global Brands to continue driving forward its sustainability goals.” The grant has been provided by the North East Derbyshire District Council through the Low Carbon Challenge Fund – a programme of support to help stimulate the transition to a low carbon economy. Lee Barned, Chair of the Clay Cross Town Board, added: “We’re seeing some significant change as more businesses like Global Brands complete their journey with the Low Carbon Challenge Fund. Recipients have praised the process of receiving grants as being quick, easy and well worth their time, and it’s heart-warming to know we were able to support them as part of their mission to be more sustainable.”

Roy Geddes Bricks backs the East Midlands Bricks Awards 2024

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Roy Geddes Bricks (RGB) have joined the sponsor line up for the East Midlands Bricks Awards 2024, backing the Most Active Agent category. RGB are market-leading suppliers of facing bricks, rainscreen cladding, natural stone, cast stone and bespoke precast products. With a wealth of experience and an exhaustive range of superior quality building materials and masonry supplies, they can help to create dynamic facades for all property types, no matter the size and scale of the project. Established since 1990, RGB has built an adept and knowledgeable team who can help building specifiers source the best suited construction materials for their project. They take pride in their customer led approach which sees RGB strive to exceed the client’s requirements through design input, helpful product advice, value engineering, efficient procurement, logistics management and site support. Speaking with Business Link, a spokesperson for RGB said: “Passionate about everything brick, Roy Geddes Bricks are proud to sponsor the prestigious 2024 East Midlands Bricks Awards, and specifically the Most Active Agent category. There are some brilliant estate agents around the region completing key, quality deals with excellent service, facilitating business expansion and new developments, and we are excited to present the winner with their award. “With our head office in Nottingham we know the important role the East Midlands plays in the UK construction industry. We look forward to celebrating all shortlisted companies and projects, shining a spotlight on the fantastic results this region produces year after year.” Taking place on Thursday 3rd October (4:30pm – 7:30pm) in the Derek Randall Suite at the famous Trent Bridge Cricket Ground, the highly anticipated East Midlands Bricks Awards 2024 will celebrate the region’s property and construction industry while providing a prime opportunity to connect with local decision makers over nibbles and complimentary drinks. A key event in the business calendar since 2015, the glittering awards ceremony will additionally feature Paul Southby as keynote speaker. Paul is a partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema in Nottingham’s Lace Market, and a longstanding trustee of environmental charity Clean Rivers Trust. He is chair of Nottingham Partners, a group of businesses that supports the work of the local inward investment agency, Invest in Nottingham, and a board member and past chair of Marketing Nottingham and Nottinghamshire Limited. Paul is also a former High Sheriff of Nottinghamshire (2022/23). Paul said: “The East Midlands development and property community faces an exciting time ahead with a new government in place and the advent of a new East Midlands Combined County Authority under the leadership of the first Mayor of the East Midlands. As we step into this new political and economic phase, the East Midlands Bricks Awards 2024 is a great opportunity to look back on our past successes, to reflect on where we are as a region, to consider what needs fixing, and – looking forward – to emphasise our region’s strengths as a strong investment location.”

Tickets can now be booked for the event – click here to secure yours.

Attend to forge new contacts and see who takes home 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, and Overall Winner. The Overall Winner of the East Midlands Bricks Awards 2024, sponsored by Blueprint Interiors, will also be awarded a grand prize – a year of marketing/publicity with Business Link worth £20,000.   East Midlands Bricks Awards 2024 When: Thursday 3rd October 2024, 4:30pm – 7:30pm Where: The Derek Randall Suite, Trent Bridge Cricket Ground Keynote speaker: Paul Southby, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, and former High Sheriff of Nottinghamshire Dress code: Standard business attire Tickets: Available at https://www.eventbrite.co.uk/e/east-midlands-bricks-awards-2024-tickets-902294566337?aff=oddtdtcreator Don’t miss this opportunity to connect with property and construction professionals while applauding the exceptional companies and projects in the region. Thanks to our sponsors:      

       

To be held at:

 

East Midlands manufacturers yet to see lift off as growth prospects remain anaemic

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East Midlands manufacturers have yet to see an immediate boost from a change of Government, but are forecasting an improvement to overall economic prospects from a period of greater political stability. The findings come in the Q3 Manufacturing Outlook survey published by Make UK and business advisory firm BDO. It shows that while growth in manufacturing continues to be anaemic at best, almost six in ten companies (58%) believe that the recent change in Government will lead to better economic growth overall in the next 12 months. In contrast just 6% of companies expect GDP to decline this year as a result of the new Government. According to the survey, the balance on output in the East Midlands was -21% but is forecast to jump to +32% in the next quarter. Total orders are following a similar pattern, increasing from -11% to +11% in the next three months. However, the mixed picture for the East Midlands is highlighted by a dip in recruitment intentions (-16%), although investment intentions are stable at +0% which could reflect the new lines and models coming on stream at car plants in the region. Business confidence in the East Midlands is continuing to climb, reaching levels last seen at the beginning of the recovery from the pandemic. Make UK is forecasting that manufacturing will grow by 0.5% in 2024. This is a downgrade from 1.2% forecast in the last quarter but is due to ONS revisions on which the forecasts are based. GDP is forecast to grow 1.1% in 2024 and 1.8% in 2025. Chris Corkan, Region Director at Make UK in the Midlands, said: “This quarter presents a tale of two halves for the East Midlands with output turning negative and recruitment taking a dip. “Investment remains positive and business confidence continues to climb and with an Autumn Budget and Spending Review fast approaching, now is the time for Government to pick up the pace and deliver on pre-election promises, most notably the publication of a long-term robust Industrial Strategy.” Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, added: “East Midlands manufacturers are hopeful that a period of greater political stability will provide a better economic outlook ahead, and that in turn is boosting business confidence. “Time will tell if that confidence can translate to orders and output, or indeed recruitment intentions where the region relies heavily on skilled workers taking up manufacturing positions.”

East Midlands school uniform company sold to Australian business

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Law firm Howes Percival has advised the shareholders of school uniform company Schoolblazer Limited on the sale of the company to Australia’s Hancock & Gore Limited. Founded in Oundle, in 2004, Schoolblazer grew rapidly to become the dominant retailer to UK independent schools. The deal will support the firm’s continued growth in the UK, as well as enable it to develop a unique offering for the Australian market. Howes Percival was instructed by the two founders, Tim James and Robin Horsell, and the other shareholders, to sell the entire issued share capital to Hancock & Gore Limited, owner of the Mountcastle and LW Reid brands in Australia and Argyle in New Zealand, to begin the creation of a global uniform group. Tim James will remain as the chairperson and a director of Schoolblazer from completion and will join the Hancock & Gore board as a director upon completion. Robin Horsell will be stepping down from the board of directors of Schoolblazer but will remain as a consultant, actively supporting the launch of the Schoolblazer business in Australia. Howes Percival’s Corporate partner James Stephen led the team on the transaction, supported by Ollie Flowers (Director) and Josie Rogers (Associate), with input from a wide range of teams including Commercial, Banking, Commercial Property, IP, Employment, Regulatory and Tax. James Stephen said: “We really enjoyed supporting the sellers during this transaction, which was delivered to a challenging timeline. They have built a fantastic company, and we look forward to seeing the Schoolblazer brand go from strength to strength as part of the wider Hancock & Gore group.”

Clowes Developments assembles team to deliver warehouse and industrial units at Castle Donington business park

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Clowes Developments have assembled a first-class team to deliver warehouse and industrial units at Stud Brook Business Park in Castle Donington. A tried and tested professional services team made up of IMA Architects, lead construction contractor, TanRo, Millwards engineers, and employers’ agent, Postins Project Services will deliver the mixed-use development which will include industrial units ranging in size from 1,500 to 45,000 sq ft. Agents, FHP Property Consultants and NG Chartered Surveyors have been appointed to lead on the marketing of the site. TanRo are committed to achieving a BREEAM score of ‘Excellent’ and an EPC rating of ‘A’ across units 2-7 at Stud Brook Business Park on behalf of Clowes Developments in line with the group’s environmental, social and governance strategy. Some of the necessary steps to achieve these goals include providing enhanced recycling and waste storage solutions, installation of photovoltaic enhanced roofs with the ability to take full capacity of solar PV panels, electric vehicle charging points and a heavy investment in landscaping across the site. Units 2-7 will be delivered as Net Zero Ready with the capacity for occupiers to be Net Zero in Operation. James Richards, Development Director at Clowes Developments, said: “Clowes are committed to delivering a first-rate business park in Castle Donington. “The mixed-use development will bring a combination of employment & amenity, units to the area which we anticipate will boost the local economy and benefit the neighbouring residents with appropriate convenience offering.”

Hotel and golf club to be sold in Northamptonshire

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Specialist business property adviser, Christie & Co has been instructed to market for sale Staverton Park Hotel & Golf Club in Northamptonshire – a profitable 247 bedroom hotel and golf resort with value enhancement opportunities.
This hotel is located in the centre of the country, close to Junction 16 of the M1, amongst the Northamptonshire countryside. Staverton Park offers an additional 61 conference suites, the largest of which can host approximately 420 guests, with views across the 18-hole PGA Championship quality golf course. The golf course is complimented by a golf driving range and a dedicated club house, including a club bar, restaurant with outdoor patio area as well as a function room. The hotel also offers substantial health and leisure facilities complete with a 15-metre swimming pool and a gym. Jeremy Jones, Head of Brokerage, Christie & Co, says: “Staverton Park Hotel & Golf Club provides an exceptional opportunity for a new owner to build upon on its growing success and increasing profitability. “With a whole range of investment, branding and operational asset management opportunities of offer, the scale of the business will appeal to both domestic and international investors.”

New Managing Director for Boots

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Walgreens Boots Alliance (WBA) has appointed Anthony Hemmerdinger as Managing Director of Boots UK and Ireland, effective from 4 November 2024. This follows the announcement in July that Seb James would be stepping down in November after six years to pursue a new role in the healthcare sector. Anthony’s appointment follows a search process which considered both external and internal candidates. Anthony is currently Retail & Operations Director at Boots UK, a position he has held since September 2022. He brings with him over 30 years of experience in the UK retail sector. In his current role at Boots, Anthony leads the team across its c.1,900 stores and distribution centres. He has been a principal member of the leadership team under which the business has undergone a successful transformation. Anthony has spearheaded Boots’ significant beauty re-fit and brand expansion programme across the company’s stores and has been instrumental in the delivery of its enhanced healthcare and beauty services in-store. Prior to joining Boots, Anthony was Chief Operating Officer at Asda, where he spent six years leading company operations across its UK retail portfolio. He previously held senior operational and strategy roles at Greene King, Sainsbury’s and Carphone Warehouse, and prior to that spent 17 years at Marks & Spencer. Ornella Barra, EVP, Chief Operating Officer, International at Walgreens Boots Alliance, said: “Anthony is a great leader with extensive retail experience. His deep understanding of our business, passion for brilliant customer service and strong relationships will ensure a seamless leadership transition and enable us to build on our transformation journey apace. “Since he joined the Boots team in 2022, Anthony has successfully guided our retail and operations team through our change journey, which has delivered consistent growth across all our categories. I am confident that he, together with our talented leadership team, will ensure that Boots maintains its very positive trajectory. “I would also like to once again thank Seb for his leadership over the last six years. On behalf of the whole team, we wish him all the best in his next role.” Anthony Hemmerdinger, Managing Director designate, added: “I am honoured to be appointed Managing Director of Boots, one of the UK’s most trusted brands and a place where I began my retail career with my first Saturday job as a teenager. “Boots is a terrific business that holds a unique position at the heart of the UK’s health and beauty sector, and I am extremely proud of all we have achieved over the last few years. This is an exciting time for the company and I look forward to working with Ornella and the wider team to deliver against our ambitious strategy and build on our great momentum. “I would also like to thank Seb for his support and leadership over the last few years. It has been a privilege to work alongside him and I look forward to working closely together in our handover period.”
 

Rail hub decision delayed with Secretary of State for Transport “minded to refuse consent”

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The Secretary of State for Transport has said she is “minded to refuse consent” for the 662-acre Hinckley National Rail Freight Interchange (HNRFI) – but needs further information before making a final decision. Secretary of State, MP Louise Haigh, was due to give her verdict on the controversial scheme by Tuesday 10 September. This followed a review and subsequent recommendation from the Planning Inspectorate’s Examination Authority (ExA). However, Blaby District Council has received notice that Ms Haigh is delaying the decision until 10 March 2025. The letter makes it clear the ExA felt the plans should be rejected. Ms Haigh says having weighed both benefits and adverse effects, she is of a similar opinion. The Minister said while she “is minded to agree” with the advice, she wants further information before making her final decision. As the scheme is classed as a Nationally Significant Infrastructure Project any ruling on approval or rejection lies with the Secretary of State for Transport. Proposed by developers Tritax Symmetry, the hub is earmarked for an expanse of countryside between the M69 and the Birmingham to Leicester rail line. The site is southwest of Elmesthorpe, mainly in Blaby District but it also abuts the edge of Burbage Common. Blaby District Council has been opposed to the plans from the outset. Criticisms have centred on the loss of countryside and adverse environmental, traffic and social impacts. Leader of Blaby District Council, Councillor Terry Richardson, said: “I am extremely disappointed that while the Secretary of State is minded to refuse this application, following the recommendation of the ExA, she has not done so. “The applicant has clearly failed to present the appropriate evidence during the process. They should not be given what residents might consider a ‘second bite of the cherry’. “My residents find it extraordinary as Leader of the Council, in whose District the application lies, that I have not had the courtesy of any direct communication from the Secretary of State relating to this decision. I therefore urge the Secretary of State to stop being evasive. She should listen to the ExA and turn down this application now. “Once again, I should like to thank everyone, especially our officers, who provided the necessary information at the public examination to ensure the recommendation could only go one way, namely, to recommend refusal.”