Hucknall site sold to Pegasus Hire Limited
Byron Station House on Baths Lane in Hucknall has been sold to Pegasus Hire Limited.
The site consists of a large residential dwelling with commercial buildings and yard to the rear.
The entire site is circa 0.33 acres and located next to Hucknall’s tram/train station, Tesco, McDonalds, Aldi, Iceland and other major occupiers.
The vendors had lived in the house and had ran a scaffolding and skip business from the property for many years.
Pegasus Hire Limited are planning to run their plant and hire business from the site and convert the residential dwelling into apartments.
Anthony Barrowcliffe of FHP said: “This was an extremely interesting instruction which I thoroughly enjoyed as it entailed vision, open mindedness and options.
“Pegasus Hire Limited purchased the site to run their plant and hire business, alongside converting the residential dwelling into apartments. This we felt suited the site perfectly and their simple, straightforward, unconditional offer, enabled a successful sale.”
New senior leaders supercharge Grant Thornton’s Midlands team
Business and financial adviser Grant Thornton UK LLP has made several senior appointments to its Midlands team.
The appointments include Sue Knight becoming the area’s new practice leader, Rachel Parker moving to lead the region’s corporate tax team and Sreekanth Gaddamanugu being appointed as audit director.
Sue Knight has been employed at Grant Thornton for 21 years. Prior to becoming the firm’s Birmingham-based practice leader in January, she led the Private Ultra-High Net Worth team and the Trust business. Sue now takes on responsibility for developing and growing Grant Thornton’s expert team across the Midlands.
Rachel Parker has recently moved from Grant Thornton’s Gatwick office to become the lead partner for Midlands Corporate Tax. In this role, Rachel will head up the 40-person corporate tax team which is based across Birmingham and Leicester.
Rachel joined Grant Thornton in 2006 and specialises in working with mid-market businesses as well as large international firms. Being on the firm’s Social Mobility Board is a key element of Rachel’s role. The Board act as advocates for the firm’s social mobility programme and activity and is focused on continuing to drive change and build on the significant progress already made by the firm in this area.
Sreekanth Gaddamanugu’s appointment as audit director in December 2021 further strengthens Grant Thornton’s mid-market audit business. He has experience working with both large listed companies as well as dynamic mid-market businesses in the Midlands. He has an in-depth understanding of a range of sectors in the Midlands market, with a particular focus on the automotive and manufacturing industries.
In addition to these appointments, James Brown, partner and practice leader at Grant Thornton UK LLP in the East of England, will take on new clients and markets leadership responsibilities in the Midlands. This will see James focus on developing existing relationships and collaborate with new companies in the region to help them fulfil their strategic goals.
James Brown said: “I am tremendously excited to be part of our Midlands team, which, as these recent appointments illustrate has such a great breadth of expertise, and I’m looking forward to building on the already strong relationships that we have in the market.”
Sue Knight, partner at Grant Thornton and Midlands practice leader, said: “The recent appointments to our Midlands team illustrate the high level of talent we’re able to provide the region’s market. The skills and knowledge they bring are vital to ensuring that the innovative and ambitious businesses here are able to grow and capitalise on new opportunities.
“The Midlands team is full of incredibly supportive, dedicated and gifted experts, which makes it an exciting environment to be in. What’s more, we’re working in an area that has a wealth of interesting organisations to which we can offer everything from advisory, audit and forensic services to tax, global mobility and private wealth support.”
Rachel Parker, lead partner for Midlands Corporate Tax, said: “This is a really exciting time to be leading the Midlands Corporate Tax team. There are significant opportunities in the market – a lot of innovative businesses with ambitious growth plans. The team’s increasing strength makes it well placed to unlock the potential of the Midlands’ market and help businesses navigate the increasingly complex world of taxation and realise their ambitions.
“As a member of Grant Thornton’s social mobility board, it’s really important for me that our team is not only as talented as possible but that it provides a supportive and inclusive space that reflects the diversity of our area.”
Sreekanth Gaddamanugu, audit director, said: “The area’s mid-market is very dynamic and has the capacity for substantial growth. I’m looking forward to working with the team to support our clients and provide assurance as they navigate the ever-changing external environment. I’ll also have a keen focus on inclusion and diversity and creating a culture of challenge and personal responsibility that enables every member of the team to fulfil their potential.”
Consumer electronics start-up approaches investment target
A consumer electronics start-up, founded by a Loughborough graduate, is close to completing their third investment round to launch sports earbuds.
Tom Jelliffe, founder of Tzuka, has already closed two previous funding rounds, as well as raising over £115k in grants. This has enabled Tzuka to engineer a prototype with “never-before-seen durability, achieving a world-first impact (IK) rating for earbuds.” In addition to Bluetooth, the earbuds have an on-board audio storage system, with space for 60 hours of music or podcasts. Users can workout without the need for a phone and can even listen whilst underwater.
Of Tzuka’s current investment round, £190k has already been raised, with a target of £240k to enable the earbuds to be launched. Tom has attracted investment from Loughborough alumni and Wilkinson Future – the family-owned investment fund of the well-known high street retailer.
“I’m so proud of what the team has achieved, overcoming the challenges over the past two years,” said Tom, who at one point, with all his savings invested in Tzuka, painted the house of an electronic engineer in return for professional advice. He added: “These earbuds are a true Loughborough collaboration with input from the University’s innovation, engineering and sport communities.”
Professor Claudia Eberlein, Loughborough University’s Dean of Science and innovation lead, said: “Tzuka is a great example of how Loughborough supports students throughout their entrepreneurial journey to build sustainable businesses. I wish Tom every success and look forward to Tzuka adding value to the University’s world-class sports cluster to drive innovation and economic growth.”
Belvoir acquires estate agency in £200,000 deal
Belvoir, the property franchise group with its central office in Grantham, has acquired Mr and Mrs Clarke Limited (MMC) for £0.2 million.
MMC was founded in 2015 by Paul and Alex Clarke, offering a specialist concierge-style personal estate agency model through a national network of 10 licensed partners, predominantly in Warwickshire, South Wales, the Midlands and North London.
Executive directors Paul and Alex Clarke, will continue to manage the business as part of Belvoir.
Dorian Gonsalves, CEO of Belvoir, said: “The acquisition of Mr and Mrs Clarke provides the Group with a new service offering, which will recognise the breadth of ways in which our customers want to interact with their estate agent and the different ways in which potential new franchisees or partners want to operate.
“Paul and Alex have created a really positive, vibrant brand that stands out from the crowd. The future success of their business will benefit from the credibility that the Belvoir Group can bring and we extend a warm welcome to the MMC team, and look forward to working alongside their partners to further strengthen the business’s growth potential.”
Paul Clarke, Managing Director, Mr and Mrs Clarke, said: “Dorian understood our vision from the word go, making this acquisition a natural step in the evolution of our business. The brokerage style business model is one which is becoming increasingly popular in the UK, especially in our new flexible working era.
“The opportunities arising from being part of a Group that is so experienced in estate agency, lettings, franchising and financial services, are extremely exciting for our partners, and we will be grabbing the opportunity with both hands to exceed our plans for further national business growth.”
National operator swoops for Market Harborough day nursery
Specialist business property adviser, Christie & Co, has sold Progress House Day Nursery in Market Harborough.
Established over 20 years ago, Progress House is a family-run day nursery with an effective operating capacity for up to 80 children aged 0-4 years.
The setting was previously owned by Julian and Linda Peach who, after many successful years running the nursery, are now looking forward to their retirement.
Following a confidential sales process, the business has been purchased by national operator, All About Children. This marks the group’s thirty-eighth setting.
Sinead Johnson, Chief Operating Officer at All About Children, says: “Progress House has a lovely, homely atmosphere, delivering high-quality care to local families and is a great addition to the All About Children group. We’re excited to meet the team and work with them for many years to come building on the exceptional reputation they already enjoy.”
David Eaves, director – childcare & education at Christie & Co, who handled the sale, says: “Progress House is a wonderful nursery at the heart of its community, and we were delighted to support Julian and Linda with their retirement plans. The nursery received immediate interest upon entering the market, with an offer accepted in just 10 days; this speaks volumes as to the level of demand amongst buyers for high-quality assets.
“As established group operators continue to expand out from their traditional geographical hubs, we anticipate increased demand all across the Midlands for both freehold and leasehold settings, creating tremendous opportunity for owners thinking of selling their nursery in the near future.”
Progress House Day Nursery was sold for an undisclosed price.
Businesses show overwhelming support for improvements to Nottingham to Lincoln rail route
A survey of firms employing nearly 8,000 people has delivered an ‘overwhelming’ message that rail improvements are needed on the Nottingham, Newark to Lincoln line.
The survey organised by transport body Midlands Connect showed that over half of businesses (51%) thought if the rail route was improved it would be used more by their employees.
97% of companies stated that investment in train routes between Nottingham and Lincoln should form part of the Government’s Levelling Up agenda.
Over 70% thought an improved rail route would make recruitment of new staff easier and 53% of businesses thought a faster and more frequent rail route would help their business grow as a result. 45% of the firms also responded to say they believed that investment on the Nottingham to Lincoln rail route would save their businesses money.
74% of respondents stated their employees mostly drove to work. This is compared to just 14.5% who stated that most of their staff use the train to travel to work. The most common reason cited was inconvenient train times, followed by infrequent service.
Commenting on the survey findings, Midlands Connect’s head of rail, Karen Heppenstall, said: “The results are pretty overwhelming and show that businesses in Nottingham, Newark and Lincoln want to see improved rail services. They see this investment as an example of levelling up their area and helping their economy to grow.
“What the survey also showed is faster and more frequent trains will save businesses money, allow them to recruit more people and grow. We will use these results as part of our strategic case for investment in the corridor and I want to thank all the firms and organisations who took part and supported the survey.”
Karl McCartney, MP for Lincoln and member of the House of Commons’ Transport Select Committee, said: “This research shows the case is even clearer now for the need for new investment in this strategic rail route. It will further plug Lincoln into the regional and national rail network which is vital to the success of the whole City and region.
“This will bring significant benefits to employers, workers and the wider public, including making it easier for tourists to enjoy Lincoln’s wonderful heritage and supporting our brilliant businesses to grow.
“It is well known that improving the transport infrastructure of regional cities like Lincoln and Nottingham leads to clear economic, environmental and quality of life benefits. To continue the drive to ‘Level Up’ our Country, this is the exactly the type of project that should be supported by the Government and delivered at pace.”
What to think about before starting your own business
If you’re thinking of starting a business, there are many things you must consider ensuring the greatest chance of success. Whether you’ve already started making plans or you’re just looking into the viability of running your own company, here are things you need to think about.
Company Structure
What kind of structure will work best for your business? Will you be working alone, or will you take on employees? Do you want to create a limited company and be a director or would you prefer to work with a partner? The structure you choose will have implications, such as the kind of paperwork you need to complete, your tax situation and other financial responsibilities.Research and Creating a Business Plan
Ensuring that you’re going to have a viable operation is an important step in creating any business, whether large or small. Take time to thoroughly research the market and use this information to create a plan that shows how you’re going to run your business. Your plan will need to include details of how the startup will be financed together with short and long-term financial forecasts.Your Company Name
It may seem trivial, but your company name can tell potential customers so much about you. You may want it to clearly indicate what your business does or choose something more abstract. Find out whether there are already others with the same name. You don’t want to be constantly confused with another company.Gaps in Training, Skills or Experience
You must be realistic about the skills and experience you have and whether you need to invest in further training to put yours in the best position. For example, do you possess the skills to create an online presence for your company or is this something you would need to outsource?Space and Equipment
Whether you just need a quiet place to work from home or need premises and lots of equipment, you need to identify a suitable space. Almost all will require equipment, whether that’s a computer for homeworking, tools for a building company or specialist software. A haulage company may decide to invest in AI dash cams for its fleet. These dash cameras with GPS not only provide safety but can offer other benefits such as in-cab alerts in high-risk situations, protecting the most important assets: your vehicles and employees behind the wheel.Finance and Accounting
No matter what kind of business you run, you’ll need to keep accounts. If your business is small, you may be able to handle your tax returns and accounting responsibilities personally. Larger or more complex operations will need an accountant or dedicated finance professional to ensure you meet your tax obligations and to make the most of your finances. There will always be tricks scammers use to steal your money and appointing someone, or a team of people, to monitor and manage these risks can certainly be worth the money.Marketing
Your media reputation is important and all businesses need to market themselves to get visibility in their marketplace. Therefore, you’ll need a marketing plan to demonstrate how you will promote your products or services. This may include using social media and email marketing, more traditional routes such as advertising in the press or local radio, flyers, leaflets, business cards and more.Licensing, Legality, and Insurances
Will your business require a special license or permission from a local government body? Will you need to prove you have the relevant qualifications? Do you need to be on an official register? What kind of insurances do you need to ensure you, your customers and the general public are covered? Always ensure you have the correct licenses permissions and insurances in place.Council agrees on funding for new health club in Warsop
Mansfield District Council has agreed to allocate £1.5m towards a project to build a new swimming pool, gym, and multi-purpose hall in Warsop.
The Full Council agreed to earmark the money from reserves to part fund the Warsop Health Hub project and also approved the borrowing of up £3.5m to help deliver the scheme.
The hub is one of six projects included in the council’s bid to the Government’s Towns Fund. Of £12.3m awarded from the Fund to the district, £3m is allocated to the health hub plan.
The council plans to bid for a further £1m to £1.5m from Sport England. But a report to the council by David Evans, the council Head of Health and Communities said that the estimated costs of the scheme had increased from a £6m estimate last year to £7.7m this year due to the rising price of supply chains, materials and labour.
This meant that the council would have to either source extra funding through borrowing or put the project at risk of not moving forward.
The level of borrowing required is anticipated to be £2m to £3.5m, depending on the level of funding secured from Sport England.
Cllr Craig Whitby, Portfolio Holder for Corporate and Finance, said: “We are very committed to the idea of building these new leisure facilities in Warsop. They would bring an undoubted improvement in the quality of life for the people there and help to address some of the health inequalities that exist in this district.
“This will transform a huge part of our community. The people are on our side, the experts are on our side, and we are one step away from getting this over the line. We have to commit a certain amount of our own funding to this scheme in order to even bid for funding from Sport England.
“Unfortunately rising costs in the building market mean that we now need to find more money to enable it to move forward. The ability to borrow helps to ensure that the scheme is viable but the council will also continue to seek alternative funding contributions to minimise the extent of potential borrowing.”
The council plans to submit an expression of interest for the funding in April and if that is confirmed, will be invited by Sport England to submit a full application.
The plan for the hub follows detailed research commissioned by the council in 2019 into the leisure and community provision in Warsop.
This work was supported by Vibrant Warsop, Warsop Parish Council and Active Notts, and community groups, members of the local community, and partner organisations were all asked for their views at consultation events and in a community-wide survey.
This was followed by a feasibility study in 2020, looking into providing a new health and wellbeing hub with a mix of facilities including:
- Swimming pool, measuring 15m by 8m
- Changing village
- Café, viewing area and reception area
- Fitness suite
- Multi-purpose dividable hall of 1,360 square metres
- New Multi-Use Games Area (MUGA).
West Northamptonshire Council opts to accept £2.05m bid for Sixfields land
West Northamptonshire Council’s Cabinet has voted to accept a £2.05m bid from County Developments (Northampton) Limited (CDNL) for land at Sixfields in Northampton.
As part of the bid, CDNL – which is owned by Northampton Town Football Club – has pledged that it will complete the East Stand at Sixfields Stadium.
The running track site to the east of the stadium will transfer to the football club and, if work on the stand is not competed to the council’s satisfaction within five years, the council will be able to buy the site back for £1.
The section of land being sold is broadly bounded by the Sixfields Stadium to the west, Walter Tull Way to the north, Tweed Road to the east and Edgar Mobbs Way to the south. It also includes the car park adjacent to the household waste recycling centre.
If any of this land is sold within five years without any investment being made to ready it for development, the council will receive a proportion of the profit.
An alternative £3m bid from development company Cildara was not recommended to members as the professional assessment of best consideration recommended the CDNL offer for financial reasons as stated in the report.
Cllr Malcolm Longley, Cabinet Member for Finance, said: “Following comments we received from colleagues at a Full Council meeting last month, we’ve given this issue a great deal of further consideration.
“In that time, we received revised bids from both parties, and we have had officers give them due consideration. Based on their advice, along with additional specialist advice we commissioned, we have decided that the CDNL bid is the most prudent of the two options.”
The council will retain the freehold of the household waste recycling centre and ancillary land.
New LLEP strategy to show SMEs the benefit of taking on apprentices
Apprenticeships in Leicester and Leicestershire will increase in number over coming years under a new plan to grow opportunities across business sizes and skills levels.
Leicester and Leicestershire Enterprise Partnership (LLEP) and skills partners aim to build the number of local people undertaking an apprenticeship. They also want to grow the number of SMEs taking on apprentices, and support employers and education providers in increasing the number of higher and degree apprenticeships.
It comes as data shows half of apprenticeships in the LLEP region are started by people aged 25 and above. Female starts outnumbered male starts in 2020-21.
The LLEP has now set out its objectives in a new three-year Apprenticeship Strategy and Action Plan. It follows the Levelling Up White Paper, in which Government set out twelve ‘missions’ in which it believes progress is needed over the next decade.
Government is investing an additional £3.8bn in further education and skills to ensure the number of people successfully completing high-quality skills training significantly increases by 2030.
Verity Hancock, chair of the LLEP’s Skills Advisory Panel and principal of Leicester College, said: “Inclusivity and productivity are core focuses of the LLEP’s economic growth strategy and we are already introducing projects, such as the Apprenticeship Ambassador Network, which will improve the quality, number and take-up of local apprenticeships.
“Our Apprenticeship Strategy and Action Plan sets out how we will work with regional education and skills providers and employers, especially SMEs, to further raise awareness of apprenticeships, traineeships and T-levels through to 2024.
“Our goal is to deliver improved links to careers in the curriculum, especially for those aged 16 to 18, and start apprenticeship conversations with adults. By working with business intermediaries, we can increase the number of apprenticeships locally, particularly around STEM subjects.”
The LLEP recognises that local challenges remain. The continuing dominance of the academic route among young people, and lack of awareness about availability of apprenticeships for adults have both been identified.
The number of advertised vacancies is also lower in Leicester and Leicestershire than in other areas – a trend attributed to the region’s large SME population.
Most apprenticeship ‘starts’ in the region are in the city and North West Leicestershire as a result of the number of larger employers. Analysis has identified Engineering and Manufacturing as skills priorities for the LLEP area which require an ongoing supply of skilled employees.
The LLEP is addressing these challenges with a 20-point action plan aimed at encouraging employers to take on more apprentice talent while raising the take-up of apprenticeships among people of all ages.
The LLEP wants apprenticeships and other vocational options like T-levels to be recognised in equal parity to academic routes and an alternative pathway to successful careers across all sectors of the economy.
On April 5, the LLEP is coordinating a session with wider partners for advisers who support people into work, encouraging them to promote apprenticeships as an option.
