More rail services planned for region in upgrade package hailed “biggest step possible in levelling-up the Midlands”

Faster and more frequent train services are on the cards for up to forty-three communities, towns and cities throughout the region as part of a massive package of improvements to transform east-west connections in the Midlands. The proposals, announced today (Monday), will reduce journey times, increasing rail journeys and supercharge the economy by bringing the East and West Midlands closer together. Midlands Connect believe that this would create over 14.6 million more seats on the railway every year and will enhance access to HS2 for 1.6 million more people. It will also help safeguard 1,600 well-paid jobs in the construction industry. Analysis also shows for every £1 spent on the project will deliver over £1.50 in benefits including faster journey times and benefits to the wider economy. The plans submitted to the government by Sub-national Transport Body Midlands Connect will be launched today in Birmingham, bringing together politicians like West Midlands Mayor and chair of the West Midlands Rail Executive Andy Street, Preet Kaur Gill MP, Deputy City Mayor of Leicester Cllr Adam Clarke, councils and business leaders to all back the ambitious proposals. The plan, entitled ‘Going for Growth’, proposes to build two chords as well as 11 further engineering interventions throughout the region to deliver a massive step change in rail transport in the Midlands. The biggest engineering proposals are between Bordesley and Moor Street, called the West Chord, allowing access to Birmingham Moor Street from South-West and Wales, and making sure services are improved on the Hereford and Worcester corridors. The project’s second chord is called the East Chord. This creates an access to Birmingham Moor Street from the East Midlands. Other plans for engineering upgrades include: Snow Hill platform 4, Moor Street platform 5, improvements around Kings Norton-Barnt Green, Stoke Works junction, a Malvern Wells turnback facility, Ledbury – Shelwick partial double-tracking, Moor Street platforms A & B (east side), Bordesley viaduct widening, Water Orton remodelling, Nuneaton to Wigston signalling headways and freight loops between Nuneaton and Leicester. The improvements will make space for up to ten extra trains per hour in and out of Birmingham. This means that passengers will see up to one hundred extra trains on the rail network in the Midlands every single day. If funded by the Government, this would all will deliver a series of major benefits for passengers, commuters and businesses. The pan-regional benefits for the Midlands are:
  • An additional train per hour between Birmingham and Bristol
  • An additional train per hour between Birmingham and Cardiff via Gloucester stopping at Worcestershire Parkway
  • An additional train per hour between Birmingham and Hereford via Worcester. The service will also stop at Bromsgrove, Great Malvern & Droitwich & Great Malvern
  • An additional fast train per hour between Leicester and Birmingham, stopping at Nuneaton
  • An additional slow train per hour between Leicester and Birmingham. The service will stop at Coleshill Parkway, Nuneaton, Hinckley, Narborough & South Wigston
The Midlands Rail Hub will also enable a raft of local improvements including:
  • One extra train per hour from Redditch to Lichfield Trent Valley stopping at Alvechurch, Barnt Green, Longbridge, Northfield, Kings Norton, Bourneville, Selly Oak, University, Five Ways, Birmingham New Street, Duddeston, Aston, Gravelly Hill, University, Chester Road, Wylde Green, Sutton Coldfield, Four Oaks, Butlers Lane Blake Street, Shenstone, Lichfield City
  • One extra train per hour from Bromsgrove to Lichfield Trent Valley stopping at Barnt Green and the stations outlined by the service above. Together with the service above this means the Cross City Line runs at six-trains per hour
  • Rerouting of the imminent two trains per hour from Kings Norton to Birmingham New Street (Camp Hill) service to instead run to Moor Street
The plans have been submitted to the government by Sub-national Transport Body Midlands Connect, in partnership with Network Rail and with the backing of 47 partner organisations including West Midlands Combined Authority, local authorities, LEPs, chambers of commerce, HS2 and East Midlands Airport. With the submission of the Outline Business Case, Midlands Connect now hope for funding for the Full Business Case to make the project ready for delivery. Commenting on the report, Sir John Peace, chairman of Midlands Connect said: “This is a truly momentous occasion for us, we are proud to unveil this detailed plan for infrastructure changes which will transform our region. “We know the project has the backing of the businesses, communities and political leaders in the Midlands, and we stand ready to kickstart its delivery and get spades in the ground. “The Midlands Rail Hub will significantly impact the future of travel for generations to come.” Andy Street, mayor of the West Midlands and chair of the West Midlands Rail Executive, said: “Midlands Rail Hub is a game changing scheme for our region. The benefits it can bring to local people and businesses are many – whether it’s connecting millions more people to the HS2 network; creating space for more local journeys, stations, and rail lines; or opening faster and more frequent rail links for commuters as well as business and leisure travellers. “The Midlands Rail Hub will also enable a raft of local improvements including restoration of the full six train per hour service on Birmingham’s Cross City Line, faster journeys into Birmingham from the new Camp Hill line stations at Moseley Village, Kings Heath, and Pineapple Road. “And crucially, Midlands Rail Hub provides the additional rail network capacity that will be required to support further expansion of the regional rail network including new stations and new services on routes such as the Sutton Park Line. “As we bounce back from Covid, Midlands Rail Hub will support our recovery by unlocking the bottleneck at Birmingham New Street to improve local services, whilst also better connecting the East and West Midlands. All of this helps open access to opportunities right across the Midlands and supports thousands of jobs during a critical period for our region. “When the West Midlands succeeds, the country succeeds, and the sooner Government enables us to start delivering this project the sooner our local residents will experience the plethora of benefits to come.” Sir Peter Soulsby, chair of Transport for the East Midlands & City Mayor of Leicester added: “Leicester is a thriving and rapidly growing city, but we need better connectivity by rail to realise the city’s economic potential. “The Midlands Rail Hub will double the rail service between Leicester and Birmingham and ensure the city is connected to both New Street and Moor Steet stations. This will provide onward connectivity to Wales and the South West, as well as easy access to HS2 Services at Curzon Street. “We expect that that HS2 East will transform connectivity between Birmingham, Derby and Nottingham by the 2040s. In the meantime, the Midlands Rail Hub will preserve onward connectivity for existing services from Birmingham New Street to the West Midlands, Wales and the West Country.”

Developer purchases new site in Lincoln

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Commercial property developer, Stirlin, has announced a new site investment. Stirlin has purchased 1.22 acres of land on Newark Road in Lincoln, which is situated directly adjacent to an Esso fuel station and the River Witham. An existing planning application has been approved for 8 single-storey industrial units to be constructed on the site, which range in size from 1,000 sq ft up to 3,100 sq ft. The site can also accommodate bespoke design and build opportunities of up to 15,000 sq ft, which will be offered by Stirlin on a long-term lease basis. Stirlin holds a long-standing commitment in Lincolnshire; having developed over 260,000 sq ft commercial property across the county since their first development in 2007. James Kirby, owner of Stirlin, says: “We are delighted to invest in another site in Lincoln. We have been aware of the site on Newark Road for many years, so were pleased when it became available. The site has a tremendous amount of potential and will greatly benefit from a complete regeneration. “With its excellent access to Lincoln City Centre and the A46, the development will act as the perfect base for a variety of local and national business.” Jamie Thorpe, chartered surveyor at Pygott & Crone, says: “It’s fantastic to see Stirlin going from strength to strength as they continue to acquire new sites across the region to deliver their high-quality brand of commercial units. They have been a key player in developing much needed business space throughout the city, providing accommodation that helps local businesses grow and supports economic growth in the area. “The most recent acquisition at Newark Road is no different, a rundown site that is in desperate need of redevelopment. Situated in a central position, the site location is expected to be very sought after. We encourage all interested businesses to get in touch to discuss their requirements.”

Midlands Energy Summit shines spotlight on region’s opportunity to become ‘famous’ in future energy agenda

The East Midlands needs to determine which part of the future energy agenda it wants to lead if it is to attract overseas investors, an audience of business leaders heard at a conference. Speakers at the Midlands Energy Summit, held by East Midlands Chamber in partnership with the University of Nottingham at the Hilton East Midlands Airport hotel yesterday (1 December), emphasised the importance of the region having a clear focus when it comes to prioritising various energy strands. Nora Senior, chair of the East Midlands Freeport, said becoming “famous” for an aspect of the green economy will help to establish clusters of businesses to accelerate innovation and create new jobs, while demonstrating a local commitment to achieving net zero will help to attract inward investment. Many of the solutions will come from academic research and the University of Nottingham’s vice-chancellor Professor Shearer West CBE, as well as Sustainable Hydrogen Centre for Doctoral Training director Professor Gavin Walker, showcased some of its work in the areas of transport and mobility, energy generation and management, and communities and the built environment. East Midlands Chamber director of policy and external affairs Chris Hobson said: “With our industrial heritage, world-class research in our universities, central location and the UK’s busiest cargo airport, our region has all the raw ingredients required to be a national and international leader in the net zero economy. “This is why we are calling the East Midlands a Centre of Trading Excellence in our new Business Manifesto for Growth, which was launched in Westminster last week and calls for Government ‘to back the East Midlands to back the UK’. “We believe there is plenty to get behind here but there is also a lot for us to think about as a region. The East Midlands Freeport offers a fantastic opportunity to create a name for ourselves on a global stage but as we heard during the Midlands Energy Summit, we need to consider what the focus should be – whether it’s in hydrogen, battery production or aerospace, for example. “It’s also important that as a region, we demonstrate a commitment to growing our competitiveness in the right way as this is what investors across the world want to see when they decide where to throw their backing. “More broadly, energy security is a hot topic for many organisations as our research tells us the number one concern for businesses right now is rising energy costs, which is also the main driver of inflation. “Businesses are eager to work in partnership with Government and the energy industry to develop a long-term energy strategy that gives them certainty about security of supply and minimises costs, which will enable firms to get on with doing what they do best in creating wealth and opportunities locally.”

Frasers Group snaps up luxury homeware platform

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Frasers Group has snapped up Amara.com, an online platform for luxury global homeware brands. The CEO of Frasers Group, Michael Murray, announced the acquisition on social media, saying it would build on ambitions to create a credible homeware destination for luxury retailer Flannels. Established in 2005 as an independent boutique, AMARA moved its focus online in 2008. It has since grown to partner with over 300 of the world’s leading luxury home brands, such as Versace Home, Missoni, Fornasetti, Roberto Cavalli and Kartell, and has gained a global audience in over 100 countries. The deal comes hot on the heels of Frasers Group’s acquisition of Savile Row tailor Gieves & Hawkes last week.

Appeal won for village housing scheme in Rutland

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Planning permission for up to 75 homes in a Rutland village has been granted following an appeal by Pegasus Group. Rutland County Council has agreed to the construction of the homes, which will include 30 per cent affordable properties, on 5.52 hectares of agricultural land off Bartles Hollow, Ketton, after Pegasus Group provided expertise on behalf of house builder Vistry Homes. As well as the homes, the development will also include a formal and informal open space, including pedestrian and cycle routes linking the development through to Wytchley Road and Park Road; and a recreational area with children’s play area. The new housing scheme, which will be traditional in style and designed to complement the local area and landscape setting, will be under one kilometre from the village centre, where there are shops, services and recreational facilities. The historic town of Stamford is under four miles away. Last year, Rutland County Council turned down the application, saying the development site was outside the Planned Limits to Development for Ketton and that any new housing has to be proven to be essential for a rural worker or similar operational needs. They concluded that “there is no justification in this instance for setting aside the development plan.” However, the scheme was approved on appeal. Guy Longley, executive director of Pegasus Group, said: “We’re pleased that this application has been allowed on appeal. Rutland County Council are unable to demonstrate a five year supply and this is a sustainably located site. “This housing development will provide much-needed, high-quality homes in one of Rutland’s Local Service Centres. We demonstrated that new residents would benefit from a range of key service and facilities and access to public transport, and the Inspector agreed.” A reserved matters application will be submitted next year.

Plans submitted for 250,000 sq ft bioscience building at Nottingham’s Island Quarter

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A detailed application for the next phase of The Island Quarter mixed-use development in Nottingham has been submitted by Conygar.

The plans comprise a 249,000 sq ft bioscience building, which includes both laboratory and office space.

Christopher Ware, property director of Conygar, said: “We are delighted to submit this application for the next phase of development.

“Nottingham is already home to a large number of exciting businesses in the bioscience space and this scheme will be an excellent addition to the mixed-use development we are creating at The Island Quarter.”

Two more retail units open at £30m development in Nottingham

Two more retail units have opened at a £30 million mixed-use development in Nottingham which is nearing completion. Birds Bakery’s latest outlet is trading at Teal Park, off the Colwick Loop Road in Netherfield, which has been jointly developed by Warwickshire-based AC Lloyd Commercial (ACL) and Nottingham-based Henry Davidson Developments (HDD). Valley CiDS charity shop, which supports children, young people and families through its out-reach work in schools and the wider community, is planning to open its 2,000 sq ft premises in the countdown to Christmas. This will be followed in the New Year by Pizza Triangle opening its first restaurant in the city. The business already has restaurants in Newcastle-under-Lyme, Solihull and Walsall. Mark Edwards, Managing Director at AC Lloyd Commercial, said Teal Park was proving to be a huge success for businesses from a wide range of sectors. He said: “It is great the economy is being boosted by the opening of these retail units. Aldi opened in August and the addition of the new retail units will mean they help each other to thrive. “The area is a hive of activity and the Local Centre is providing amenities for residents on their doorstep which they can walk or cycle to which is good news for the environment as well.” Richard Croft, director at HDD, added: “We are delighted the Local Centre is fully let and that we have a mix of local and national occupiers across Teal Park. “Teal Park is going from strength to strength and is adding to the retail mix of this popular area of Nottingham.”

PKF Smith Cooper’s Fire & Security specialists assist Duke Royalty on £5m funding into sector consolidator New Path

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International alternative capital solutions provider Duke Royalty has provided £5 million debt royalty financing to New Path Fire and Security (New Path), an investment holding company operating in the UK&I fire and security (“F&S”) sector. The funding agreement also involved Duke Royalty becoming a 15% shareholder in New Path, and agreeing a total funding commitment of up to £20 million to support New Path’s buy-and-build strategy across the UK. Duke Royalty turned to PKF SC Corporate Finance to support its first deal in the F&S sector due to the PKF team’s growing specialism and expertise in the sector. PKF’s role was to undertake a comprehensive commercial diligence exercise on New Path, its position in the market, and the wider F&S market. PKF has developed a significant specialism in the F&S market in recent years, its track record including assisting integrated security and fire safety solutions specialist, Total Integrated Solutions, in securing investment from private equity house Key Capital Partners. New Path is a fast-growing investment platform, focused on acquiring independent fire safety and security companies throughout the South of England. Its group companies cover all aspects of fire safety including installation, maintenance, servicing, testing and monitoring, and a variety of security services, including CCTV and door entry systems. New Path has acquired seven businesses since it was established in 2020, and the £5 million funding from Duke Royalty will fund a further two acquisitions which are currently at advanced stages in New Path’s pipeline. Commenting on the deal and PKF’s role, Alex Hibbard, Vice President at Duke Royalty, said: “Duke is excited to be partnering with New Path to support their buy and build strategy; we look forward to helping them to continue consolidating a mission-critical sector. Duke looked to the PKF Smith Cooper CF team for a review of the sectors and sub-sectors that New Path operates in, addressing a detailed scope with well-researched analysis, delivered in a short time window. We were happy with their insightful output, which was delivered within our timeframe.” James Ward, Corporate Finance Director at PKF Smith Cooper and leader of the F&S team, said: “It’s been a privilege to assist Duke Royalty in making its first funding transaction in the F&S sector; they recognised the potential of New Path’s plan to create a group of specialist F&S businesses with a diverse service offering in the highly fragmented F&S sector. Duke’s funding package will enable New Path to complete on two deals in advanced stages of negotiation, and to continue their expansion thereafter. We wish New Path’s management and Duke Royalty, with which we’ve worked on two previous transactions, every success with their strategy.” PKF Smith Cooper is an award-winning advisory and accountancy firm; PKF Smith Cooper’s Corporate Finance team was crowned ‘SME Advisory Team of the Year’ at Insider’s 2022 Midlands Dealmakers Awards this Autumn.

Springbourne Homes nets plethora of awards

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It’s been a stunning, award-winning year for Leicestershire developer Springbourne Homes. The Market Bosworth based business has scooped five top industry prizes for its spectacular Hornsey Rise site in Bosworth Road, Wellsborough. Springbourne chairman Adrian Burr collected  a prestigious What House? Award last month to complete a fistful of trophies for the flourishing firm, including three coveted Five Star awards at the UK Property Awards. A delighted Adrian said: “It’s been our best ever year for awards and everyone at Springbourne is thrilled that we’ve collected so many top honours. “The most pleasing aspect is that they’re all industry awards, judged by our fellow professionals, which makes them the ultimate accolade. “It’s a ringing endorsement of the high standards we set ourselves and the top quality homes we deliver. “I always said Hornsey Rise was the jewel in the crown of the Springbourne portfolio and the awards are certainly glittering now in the boardroom!” Hornsey Rise is a select development of 19 luxury homes on a ten acre site surrounded by amazing countryside views. At the UK Property Awards it was acknowledged as “Best in the UK for Architecture”,  “Best in the East Midlands for Architecture” and named the “Best Residential Development in Leicestershire”.

Revenue to be lower and losses higher than expected at Light Science Technologies

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Revenue is expected to be below market expectations while loss before tax is expected to be higher than anticipated for the year ending 30 November 2022 at Derbyshire-based Light Science Technologies. In a new trading update, the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group said that while group revenue grew by approximately 10.5% in the year, this is around 13% below market expectations. Group loss before tax meanwhile is anticipated to be approximately £850k higher than market expectations. It comes as a result of a positive sales pipeline being negated by an elongation of the sales cycle, predominantly driven by input inflation experienced by growers which cannot currently be passed on to customers, leading to growers delaying capital expenditure. Additionally, gross margins at the group’s CEM division have been diluted through the second half of the year, driven by significant price volatility in the global electronics component market. The group was anticipating certain revenue streams materialising before 30 November 2022, which would have delivered financials in line with market forecasts for the period. However, these have been delayed. These revenue streams are now expected to materialise next year.