Marks and Spencer confirms expansion into larger Chesterfield store
Retail giant Marks and Spencer has committed further to its future in Chesterfield, by announcing plans to expand into a larger premises in the town.
The company has officially announced it will be moving to the former Debenhams store on the Ravenside Retail Park, which is a purpose built unit. It means M&S will be expanding its range of food, clothing and homeware to shoppers in Chesterfield.
Craig Baldock, Regional Manager for M&S said: “We’re excited to announce our plans to open a brand new, larger M&S store at Ravenside Retail Park, which will offer local customers in Chesterfield a much bigger range of M&S products across our Foodhall and Clothing & Home departments. The new store will be finished and open to customers later this year.
“We believe this is the right decision to ensure we can deliver the very best M&S offer for customers in Chesterfield and the wider local area. We will keep the community updated as the works progress.
“Shopping habits are changing, so we’re rotating our store estate and this investment in Chesterfield is part of our work to ensure we have the right stores to offer our customers a brilliant shopping experience.”
Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “Marks and Spencer moving to Ravenside Retail Park represents a significant investment in our borough, creating more jobs and demonstrating confidence in the growth of the local economy. A new, expanded M&S store will mean they can offer a wider range of products and have a modern store that is fit for the future.
“Whilst the move is disappointing for our high street, we are making significant investments in this area to ensure we can create a modern, vibrant visitor destination which builds confidence in the town – including our ambitious town centre regeneration plans which are moving forward after we secured nearly £20m from the Government’s levelling up fund.
“The council does not own the building currently occupied by Marks and Spencer but we will work with them and the landlord to explore alternative uses for this key town centre building.”
The move is the latest in a line of new openings and expansions into the town, such as Rebel Menswear, Boba Shack and Pizza Pi.
Historic Skegness Town Hall goes on the market
Lambert Smith Hampton (LSH) has been instructed to sell Skegness Town Hall, a Grade II listed office building, and The Lodge, a separate residential dwelling, by East Lindsey District Council.
The Town Hall was designed by William Henry Ansell and originally built in 1926 as a convalescent home, before being repurposed as the Town Hall in 1964. It benefits from close proximity to the town’s seafront and main tourist areas and would suit a variety of alternative uses.
Andrew France, Associate Director – Agency & Development, at LSH commented:“Located in one of the UK’s most popular tourist resorts, these are prominent buildings with significant redevelopment opportunity for a variety of alternative uses, and the chance to bring something really exciting to Skegness. I’m delighted to be working with East Lindsey District Council to find a buyer that will secure the future of this historic building.”
Councillor Richard Fry, Portfolio Holder for Finance at East Lindsey District Council, said:
“With the development of a new home for the Council at the Horncastle Hub, Skegness Town Hall is now being offered to the market for sale. The Town Hall is now all but empty and is now surplus to the Council’s operational requirements. Best and final offers are being invited with interested parties needing to submit their proposals and offers to Andrew France no later than noon on 29 April 2022. The Council hopes to see the building put into really productive use with the listing itself protecting its magnificence.”
Cash a crucial part of payments mix, say small firms
Responding to the launch of RSA and LINK’s ‘The Cash Consensus’, Federation of Small Businesses (FSB) National Chair Martin McTague, who sits on the Community Access to Cash Pilots board, said:
“One in four small high street businesses say cash is still the most popular payment method among customers.
“The pandemic has accelerated the move to contactless, but notes and coins remain important to the daily lives of millions.
“This new report rightly suggests a combination of innovation in the free access to cash space and investment in digital capability as the way forward.
“Through our Access to Cash Pilots, we’re increasingly identifying shared banking hubs alongside enhanced connectivity as integral to financial inclusion and increased productivity over the years ahead.
“Cashback without purchase holds a lot of promise too, provided the incentives in place for small firms that take on the admin, cost and risk of providing it are sufficient.
“By protecting access to cash infrastructure for as long as people want and need it, whilst increasing connectivity and keeping contactless card charges down for small firms, we can create a diverse payments market which is both inclusive as well as resilient when online systems fail.”
Hot Topic – CEO Stuart Law of Assetz Capital comments on the Chancellors Spring Statement
In a series of interviews following the Chancellors Spring Statement, Business Link catches up with Stuart Law, the CEO and co-founder of Assetz Capital, for his response to the measures announced.
“While we welcome the Chancellor’s interventions to support households with the increasing cost of living, including decreasing fuel duty, removing VAT on measures to make homes more energy efficient and increasing the National Insurance threshold later this year, the ONS has announced that house prices grew nearly 10% over the year to January 2022.
With the Bank of England raising rates again to combat inflation, the cost of housing – by far people’s biggest monthly outgoing – is getting more expensive at the worst possible time.
We face an immediate crisis with the cost of energy, we also need to address longer-standing structural, economic and policy issues that are supporting ongoing house price growth. Price growth isn’t just about a knee-jerk response to the pandemic or lingering issues to do with post-Brexit trade, although of course both continue to impact the market.
How we want to live is fundamentally supporting high demand, while an onerous planning system, labour and materials shortages and high land prices continue to hamper construction output. We urgently need to see the content of the much-delayed Planning Bill to understand how this might unlock development by bringing down build costs, and as a result temper price growth to make housing more affordable for all.
Ultimately, balancing supply and demand is the only sustainable way to ensure reasonable levels of house price growth and accessibility to housing for people of all incomes. We are determined to play our part in building a fairer housing market, which is why we’ve recently announced a major extension to our partnership with Aros Kapital to bring £1 billion of funding into the UK. Much of this will be targeted at supporting SME housebuilders. We need a market that better supports SME housebuilders and unlocks development, and as a result lowers the cost of housing, improving access to quality living accommodation for all, but especially those that need additional support; first time buyers, people on low incomes, people fleeing abuse, coping with addiction or living with mental or physical disabilities.
We need a policy focus on these issues, as well as inflation and the cost of energy, if we truly want to make a substantial impact in tackling the cost of living crisis.”
Buyers have keen appetite for food & drink manufacturing
The Food & Drink Manufacturing sector has bounced back after a ‘tumultuous’ year, as consumer demand continues to drive growth in alternative markets, according to accountancy and business advisory firm, BDO LLP.
The UK market saw a ‘prosperous’ return to form with M&A activity up by 20% in 2021 – only 10% lower than pre-pandemic levels. The BDO Food & Drink Manufacturing Review 2022 has revealed that deals increased in plant-based, free-from, low sugar and alcohol alternative subsectors during the last 12 months. This included the cross-border acquisition of vegan and free-from brand Gosh! by Portugal-based Sonae for £64 million.
Roger Buckley, M&A partner at BDO, said: “The rise in M&A activity in 2021 can be attributed to a number of factors, including improving market sentiment, strategic positioning, pent-up demand following an uncertain year, and also rumoured changes to capital gains tax, driving deal completions.
“Whilst plant-based, free-from and sustainable food and drink have been upward trending for the past few years, it’s clear that this subsector is now entering a new stage of growth with volumes of M&A transactions rocketing in 2021.
“The issue of sustainability remains a priority for businesses, consumers and governments. Demand for British produce and environmentally friendly goods is on the rise and the emerging agritech subsector is at the forefront of delivering new technologies.”
The M&A report reveals that agritech is ‘booming’, with new investment into the global market soaring in 2021, with a record $10.5 billion injected into the subsector, representing a 42% CAGR since 2010. The UK continues to lead the European region, with the 2021 AgriFoodTech Investment Report reporting $1.1bn of investment and 164 deals recorded in 2020.
The Food & Drink Manufacturing Review 2022 also shows a dramatic increase in private equity investment in the market, representing 31% of the deal volume last year – up from 19% in 2018. Private equity outfought international acquirers with cross border deals declining from a high of 52% of transactions in 2020 to 45% last year.
Buckley added: “Despite the promising turnaround of the market in 2021, the year ahead will throw up a significant amount of uncertainty and challenges, marked deeply by Russia’s invasion of Ukraine.
“We expect rising input prices across energy, labour and materials to be one of the major issues of 2022. Global transport problems and labour shortages will also continue to be disruptive to the industry, despite the Home Office increasing the foreign worker visa to six months for seasonal workers. Full custom controls introduced for goods moving between the EU and UK is also causing headaches for food and drink importers.
“However, challenges aside, we expect the M&A market to remain active, and investors to be increasingly attracted to this resilient industry, as producers and manufacturers continue to re-engage with M&A and re-focus on implementing their growth strategies.”
Confidence falls but outlook remains positive for East Midlands firms
Business confidence in the East Midlands dropped 12 points during March to 22%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down 17 points at 30%. When taken alongside their optimism in the economy, down nine points to 14%, this gives a headline confidence reading of 22%.
Despite the fall in confidence, businesses reported plans to target new growth opportunities in the next six months, including evolving products and services offers (43%), utilising new technology to improve operations (29%) and investing in training and development for staff (24%).
The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 13% of businesses in the region expect to increase staff levels over the next year, down seven points on last month.
Overall UK business confidence dropped 11 points during March, from 44% to 33%. Firms’ outlook on their future trading prospects (down from 45% to 34%) and optimism in the economy (down from 43% to 32%) both fell by 11 points on February’s reading. The net balance of businesses planning to create new jobs decreased by six points to 32%.
Every UK region and nation reported positive confidence readings in March, with the exception of Wales which saw confidence drop from 29% to -5%. Only London (up 13 points to 60%), Yorkshire and the Humber (up six points to 57%) and the North West (up one point to 45%) reported a higher reading than last month, with London now the most optimistic region overall.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “East Midlands businesses haven’t been immune to the ongoing challenges arising from surging prices and the war in Ukraine, both of which sadly show no signs of resolution in the near future. All companies across the region will now be looking to steady the ship ready to deal with the challenges ahead.
“We’ll work with local businesses to make sure they can look to the future with more optimism and give them the support they need to tap into these growth opportunities.”
From a sector perspective the impact of the war in Ukraine appears to have had the greatest impact on manufacturing and retail firms. Both sectors saw drops in confidence of 19% from February’s highs (to 35% and 28% respectively). From a manufacturing perspective confidence levels are now at their lowest since last summer, while retail has fallen to a one-year low.
In the other sectors, services dropped by six points (32%) while construction dropped eight points to 43%, but remained higher than at the start of the year.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “March’s data shows UK businesses are facing significant challenges from the impact of Russia’s invasion of Ukraine in increasing economic uncertainty and ongoing inflationary pressures. Following encouraging improvements at the start of the year, March’s fall in confidence is therefore disappointing, but not surprising.
“There are positives with the fact that confidence remains above the long-term average and it appears for now that growth will moderate. But it is difficult to gauge what the full impact will be and therefore businesses have become more cautious.”
April “flashpoint” threatens small business futures as eviction protection and sick pay rebate end
The Federation of Small Businesses (FSB) is warning that the futures of thousands of small businesses and sole traders are at risk as a raft of new admin requirements and cost pressures hit over the coming days.
Its intervention follows Office for National Statistics figures showing that Covid infection rates are soaring, and close to one in seven (14%) businesses are not currently fully trading. Research by the body published earlier this month indicated that 5% of businesses, the equivalent of more than 250,000 firms, fear imminent collapse.
Protection from eviction for commercial tenants came to an end last week, the day after an SSP rebate scheme for small businesses closed a week ago today.
Changes taking effect for small businesses imminently include:
- The requirement to pay all VAT deferred in the period to June 2020 under Covid reliefs in full (Today, 31 March)
- An end to the 12.5% VAT rate for the hospitality sector; the requirement to make all VAT returns MTD compliant; an increase in the National Living Wage rate for over 23s to £9.50; a reduction to the 66% business rates discount for high street businesses and first payment of new rates bills (Tomorrow, 1 April)
- An increase in the weekly SSP rate to £99.35 (Sunday, 3 April)
- A 1.25 percentage point increase in NICs rates for employers, employees and sole traders as well as dividend taxation (Wednesday, 6 April)
Historic Nottingham farm submits plans to open its doors as community hub
An historic farm in Nottingham is proposing to open its doors as a community hub which will help keep the area’s history alive.
Greasley Castle Farm has submitted plans to open a museum dedicated to the history of the site and local area, a tearoom, function room and a number of workshops for local businesses.
A planning application has been submitted to Broxtowe Borough Council by property consultancy Fisher German on behalf of the farm.
The site itself is steeped in history, comprising of a Grade II listed farmhouse, castle remains and font, all set within a Scheduled Ancient Monument.
The plans would see the ground floor of the farmhouse converted into an interactive tearoom which would not only serve local produce but invite young people to learn more about the ‘farm to fork’ concept and develop their skills in baking.
The existing barns would be converted into a museum which will display historic information and artefacts about the site and the local area, a function room and four workshops available to small businesses.
Visitors would also have access to the grounds of the arable farm which includes almost 1,000 acres of land including fields, woods, and lakes.
The plans are the vision of farm owner Malcolm Hodgkinson who has lived in the area for all of his life but did not learn about its history until he was in his 40s.
He said: “When I was a boy, me and my sister didn’t know that Greasley Castle even existed and there are young people growing up today in this very same position.
“There is a lot of forgotten history in the area and I want to help revive this and keep it alive for generations to come.
“If plans are approved, people will be able to find out about how the site originally housed a medieval manor house before the castle was built in the 1340s.
“Visitors will be able to learn about significant inhabitants of the site and take a look at some of the incredible local artefacts which have been recovered. These will be on display alongside some of the old equipment from the farm showing the agricultural importance of the site.
“The proposed plans also include a tearoom, but I wanted to create something interactive and different to give young people the chance to learn about the ingredients and take pride in making their own cakes and bread for their families.
“It will be fantastic to welcome small local businesses to the workshops which would be suitable for those making and selling things on site such as blacksmiths, jewellery makers, framers – anything that would thrive in a rural setting.
“The farm is already a big part of the local community and has been home to a local Scouts group for more than 30 years, Castle Greasley Archery Club and a local donkey and pony rescue organisation.
“These plans will make the farm into even more of a community hub which will help educate people about incredibly important topics and offer a completely new experience in the area.”
Scott O’Dell, of Fisher German, added: “Malcolm has a fantastic vision to create a valuable community asset which will benefit generations of local people.
“It is an important site historically, so we have worked hard to ensure the proposals involve minimal changes to the existing buildings to ensure they are preserved with little intervention. We are also keeping any new buildings to a minimum.
“It is a really positive application which has a strong focus on the area’s local heritage and agriculture.”
Experienced charity leader and FMCG specialist strengthens FRAME Board of Trustees
FRAME, the Nottingham-based medical research charity committed to reducing the number of animals used in scientific testing, has appointed former charity leader, fast-moving consumer goods (FMCG) specialist and veganism advocate George Gill to its Board of Trustees.
As founder of VeganFMCG, a company that supports FMCG SMEs in scaling up their business and brand, George also held an 11-year tenure at The Vegan Society, initially as head of business development and then as its CEO. Prior to this, George was CEO of Beyond Animal, a digital platform accelerating the growth of the vegan economy, and previously spent 20 years in sales and business development in FMCG, with a strong background in brand licensing and new product development.
At The Vegan Society, George was responsible for raising income revenue from £300k to £5m, leading the organisation’s promotion of the Vegan Trademark, and executing major campaigns such as the Grow Green Conference and Plate up for the Planet. He also played a key role in policy and advocacy initiatives such as the Ethical Vegan Protection (Equality Act) and the formation of the All-Party Parliamentary Group on Vegetarianism and Veganism.
FRAME is committed to replacing the use of animals in scientific experiments, and is dedicated to the development of new and scientifically valid methods that will replace the need for laboratory animals in medical and scientific research, education, and testing. The charity provides an annual donation to support the work of the FRAME Laboratory in Nottingham where scientists research and develop human-based alternatives to animal models.
FRAME’s Board of Trustees provides strategic direction and governance and works alongside the charity’s team that is led by CEO Celean Camp. George joins FRAME Trustees Sara Carbone, Dr Lesley Gilmour, Dr Anja Petrie, and Chair of Trustees, Dr Carol Treasure.
Of his appointment, George says: “In recent years, my career has focused on increasing animal-free ingredients and animal-free testing for products across alternative food protein, skincare, toiletries, detergents, fashion, and research medicine, with the goal of promoting veganism and plant-based living as a positive lifestyle choice rather than a fad. As a result, products have been developed from new synthetic ingredients, algae, and cell-cultured seafood by businesses across the world.
“There are many synergies with my work and FRAME’s vision and values, and I’m excited to use my experience to help influence crucial changes in policy, increase awareness of alternative, non-animal testing methods, generate funds for cutting-edge research, and support work on industry partnerships.”
FRAME CEO Celean Camp says: “George’s personal ethos, extensive experience in corporate outreach, and focus on promoting both animal welfare and ethical consumerism strongly align with FRAME’s vision of a world where non-animal research methods are accepted as scientific best practice.
“He brings in-depth charity leadership, governance knowledge and problem-solving skills to our Board of Trustees, which will be invaluable as we expand our education and outreach work and continue to grow and develop FRAME’s public and corporate support.”
New associate director for Mather Jamie
Specialist land development and property consultancy company Mather Jamie has appointed Karla Williams as a new associate director specialising in land acquisitions and disposals.
Having started her career in land buying during a sandwich placement, Karla has spent the last decade working for volume house builders including Countryside Properties and Avant Homes where she was responsible for acquiring sites of various sizes for a mixture of tenures.
Commenting on her appointment, Karla said: “Mather Jamie is a very reputable property consultancy and after many years working for volume housebuilders I thought the opportunity to work on the other side of land transactions would be an exciting challenge.”
Karla graduated with First Class Honours in Planning and Development from Nottingham Trent University in 2014 and enjoys returning as a guest lecturer to support the next generation of graduates. In her spare time Karla enjoys visiting new places and has previously explored Vietnam by motorbike. Originally from Nottingham, Karla now lives in Derby with her husband, two children and an affectionate rescue cat.
