West Bridgford Police Station sold to retirement community operator
Nottinghamshire Police has completed the sale of its former police station on Rectory Road, West Bridgford to McCarthy Stone. In a deal brokered by Box Property and LHS, the old station will be transformed into a thriving retirement community.
McCarthy Stone creates award-winning retirement properties for sale or for rent. It has already worked with Rushcliffe Borough Council to secure planning consent for a scheme on the site which will see the existing building demolished to make way for 86, one-and two-bedroom, Retirement Living apartments, with on-site support, car parking and professionally-landscaped gardens.
The development will also include communal facilities such as a residents’ lounge, mobility scooter charging and storage room, guest suite and an internal refuse store, with lift access to all floors.
Ben Tebbutt, director at Box Property, said: “There is a real shortage of independent living accommodation for older people in the local area. We’ve worked closely with McCarthy Stone over the last 12 months to get the deal over the line and we are excited to see the next phase of development.”
Katie Fisher, divisional managing director at McCarthy Stone, said: “With the completion of the sale of the property, we will shortly commence construction and our Retirement Living development will significantly improve local housing choice for older people in West Bridgford.
“The development will be ideal for residents in the area who wish to retain their independence, in their own home, while accessing a warm, fun, and caring community of friendly neighbours.”
Robbie Farrell of Lambert Smith Hampton (LSH) acted on behalf of the Police, who have relocated officers from the former police training centre to a joint site on Loughborough Road with West Bridgford Fire Service.
Plans submitted to build apartments at site of former Nottingham nursery
Rayner Davies Architects have submitted a planning application for nine apartments on the site of the former Wishing Well Day Nursery in Nottingham.
The scheme is conceived as a row of L-Shaped duplex units, mirrored along a central spine and book-ended with a different contextual response for each of its two primary frontages; one facing Oakfields Road and the other on Rutland Road.
The proposals dispense with the typical ‘central core’ arrangement of conventional apartment blocks, instead providing access via raised and landscaped walkways. This layout both mitigates against flood risks and provides a more pleasant entry sequence.
In addition to generous private terraces, there is a communal garden flanking the scheme to the West. Undercroft parking is provided, utilising the existing basement of the nursery with ample cycle storage and options for EV charging.
High quality materials and contemporary detailing ground the scheme, providing texture and perforations to add compositional interest. Standing seam metal cladding with a subtle colouring is offset against the more neutral brick colouring and complimented by use of colour for the windows, doors and railings.
Rushcliffe Borough Council will now consider the proposals and a decision is expected mid-summer.
New Nottingham student accommodation development gets green light
Plans for student accommodation on land between Union Road and St Marks Street in Nottingham have been granted conditional permission.
The proposed development, from Environment Design Consultants, consists of two buildings with a communal courtyard between and basement parking below the courtyard.
249 studios would be created as well as two commercial units.
The development site currently comprises of former industrial buildings and open car parks.
The plans follow an earlier phase of development, to provide a 5-storey block of student flats.
Biggest business groups unite against slow payments
Good Business Pays is spearheading an alliance involving the Small Business Commissioner and leaders from the UK’s biggest business groups including the Federation of Small Businesses, CBI, and BCC to stop slow payments from harming small businesses once and for all.
Launched today, the ‘Wait Off’ campaign is backed by 16 of the UK’s most influential groups – representing a total of over half a million businesses in the UK – to up the ante in tackling the poor payment practices of big businesses across their respective industries. The campaign is also being backed by a number of UK businesses that support faster payments to small businesses.
The latest data from the FSB suggests slow and unfair payment practices are threatening the future of almost half a million UK small businesses.
Whilst the challenges of slow payment have been well reported and become a focus for many campaigns over the last few years, the volume and variety of voices calling for change has left small businesses unclear where to show their support and therefore disengaged. The ‘Wait Off’ campaign will create a consistent platform for groups and businesses to work together in achieving lasting change.
Terry Corby, chair of Good Business Pays, said: “Slow and late payments have been a problem ignored by many businesses for a long time, but with so many small businesses struggling with rising costs and inflation, it has never been more important to ensure cash flows smoothly and quickly throughout the supply chain.”
A study commissioned by Good Business Pays and carried out by the Centre for Economics and Business Research (CEBR), estimates that if small businesses’ invoices were paid on the day they were submitted, their revenues would increase by £40bn to £60bn per year. This could provide a significant income boost for small businesses at a time when their operating costs are rising by the week.
The list of those business groups backing the campaign is:
- Institute of Directors; Federation of Small Businesses; The Association of Independent Professionals and the Self-Employed; Confederation of British Industry; Microbiz Matters; Liz Barclay – Small Business Commissioner; National Enterprise Network; Make UK; British Chambers of Commerce; Your business community; Yorkshire In Business; UK Finance; Chartered Institute of Credit Management; NEDonBoard; International Association of Book-keepers.
Cawarden honoured with Green World Ambassador status 2022 at special ceremony in London
Derby-based Specialist Contractor, Cawarden, has been honoured by The Green Organisation as International Green World Ambassadors 2022 at a special ceremony held on May 30th, 2022 at The Waldorf Hilton in London.
The triple ceremony included presentations to all Green World Ambassadors, Beautiful Buildings and CSR Excellence Award winners.
Cawarden collected their award alongside a diverse range of organisations who have also been crowned Green World Ambassadors – including Balfour Beatty, TUI, Birmingham Airport and The White Rose Shopping Centre in Leeds.
Cawarden was also confirmed to have reached the finals of the Green World Awards and will represent the United Kingdom in America next year.
During the ceremony, guests enjoyed the famous ‘Tea at the Waldorf’. All nominees also received an awards gift bag for which Cawarden contributed custom wildflower seed packets as a reminder of the day.
100 trees will now be planted in Cawarden’s name as part of the United Nations Billion Trees initiative.
This latest success for Cawarden comes after receiving gold and silver recognition at the International Green Apple Awards 2021 for Environmental Best Practice for their work at Summit Colliery in Nottinghamshire. The project enabled the site to be re-developed for commercial/industrial use – all whilst providing a long-term sustainable solution to protect the existing botanical diversity that had flourished, including the Common Spotted-Orchid and Bee Orchid, and maintain the conservation status of Dingy Skipper butterflies.
William Crooks, Managing Director of Cawarden, said: “We are honoured to be presented with a prestigious Green World Ambassador Award. As an International Green World Ambassador, we look forward to continuing to support our clients to achieve their sustainable development goals. As a company, we will continue to play a vital role in providing leadership in environmentally sustainable best practices whilst making great progress on our journey to becoming a net-zero business.
“We hope our work at Summit Colliery helps others around the world to learn from our achievements.”
Green World Ambassadors promote environmental best practice. Through Cawarden’s work, they are helping others to help the environment as their award-winning paper is to be published in the Green Book – the world’s only annual global work of reference on environmental best practice that is distributed to environmental professionals, universities and libraries around the world by The Green Organisation. The book aims to encourage others to learn from the winners’ experience and to follow their lead to benefit themselves and the environment for generations to come.
The Green Apple Awards are run by the Green Organisation – an international, independent, non-profit, non-political environment group that began in 1994 to recognise, reward and promote environmental best practice around the world.
Kettering HR and H&S compliance consultancy snapped up
Marlowe, a leader in business-critical services and software which assure safety and regulatory compliance, has acquired Business HR Solutions (Consultancy) Limited and Business Human Resources Solutions Limited (together, “HR Solutions”), a HR and H&S compliance consultancy, for an enterprise value of £6.1 million.
Headquartered in Kettering and established in 2001, HR Solutions provides retained HR and H&S consulting to approximately 750 customers, helping to keep them compliant with employment law and health & safety regulations.
HR Solutions will integrate into Marlowe’s Worknest brand, offering attractive synergies and deepening Marlowe’s HR & H&S consultancy proposition.
In the year to 31 March 2022, HR Solutions generated revenues of £3.1 million and EBITDA of £0.7 million. Net assets as at 31 March 2022 were £0.8 million.
The acquisition consideration will be settled in cash and funded from Marlowe’s existing cash resources.
Gavin Snell, CEO at WorkNest, said: “We’re excited to welcome HR Solutions’ clients and all of our new colleagues into the WorkNest family. We share the same focus on employee engagement and high quality client support, and WorkNest has a strong track record of bringing such like-minded businesses together with positive outcomes. “HR Solutions’ continued client service delivery is the priority, but in the coming months, we will work on synergies and opportunities across the businesses.” Greg Guilford, CEO at HR Solutions, said: “Over the past few years we have been growing very quickly. This has been led by the great commitment our team has to our client base, their continued professionalism, as well as several acquisitions HR Solutions has made along the way. “We are excited at this development in joining WorkNest as this will further strengthen our service and bring considerable benefits to our clients through the scale and breadth of services offered by the wider group.”Record revenue for Leicester online electrical retailer
Marks Electrical Group, the Leicester-based online electrical retailer, has enjoyed a record year for revenue, with growth of 44% to £80.5m.
Meanwhile, according to audited results for the year ended 31 March 2022, the firm posted an adjusted profit after tax in line with the prior year at £5.3m.
The business noted that positive trading momentum has continued in the first months of FY23, with revenue growth exceeding 20% year on year.
Mark Smithson, Chief Executive Officer, said: “We achieved record revenue in FY22, with growth of 44% against a strong comparative of 78% in the prior year. This is testament to the hard work and commitment of the entire team. I’m particularly proud to have achieved this while maintaining our disciplined focus on margin, capital allocation and cash generation.
“While we are conscious of the challenges raised by the cost of living crisis in the UK and its impact on consumer confidence, our low-cost and execution-focused model leaves us well positioned to manage operationally, and with still only 1.6% market share of the £5.4bn UK MDA market, we see significant scope and opportunity for growth.
“Recognising the current impact on the consumer and thanks to our strong brand partnerships, we have been able to expand our range of products, across price categories, as well as introducing new credit solutions and interest free options with our finance partners. We have continued to achieve market share gains and strong revenue momentum in the months since the financial year end, as our leading customer service and free next day delivery continues to provide a compelling and unique offering that sets us apart from the competition.
“We remain well positioned moving forward to execute on our clear strategy of growing brand awareness, delivering exceptional customer service, and expanding our offering to new customers across the UK.”
Trio of East Midlands pharmacies sold
Specialist business property adviser, Christie & Co, has sold Shires Pharmacies Limited, the operator of three pharmacies; two in North Nottinghamshire and one in North East Derbyshire.
The pharmacies – Springs Pharmacy, Shire Pharmacy, Market Pharmacy – occupy two health centre adjacent/integrated locations and a high street location, and all benefit from standard hours contracts and above average dispensing volumes.
Having successfully built and operated the pharmacies since 2002, Shires Pharmacies Limited decided to sell the three sites to enable its directors to semi-retire and focus on their two remaining pharmacies in South Yorkshire.
Following a short and confidential sales process which generated multiple offers, the pharmacies have been sold to Peak Pharmacy, one of the largest independent community pharmacy groups in the UK.
Speaking on behalf of Shires Pharmacies Limited, Garry Myers says: “Having known the Peak Pharmacy business for many years, we are pleased to see the pharmacies transfer to a like-minded operator and are confident that they will go from strength to strength under their new ownership.”
Speaking on behalf of Peak Pharmacy, newly appointed Managing Director, Joe Cattee, says: “We are delighted to have acquired the three pharmacies, further enhancing our trading profile across the area. We look forward to integrating the pharmacies into Peak Pharmacy as well welcoming the Shires team into the Peak family.”
Carl Steer, director – medical at Christie & Co, who handled the sale, says: “From the outset, Shires Pharmacies Limited generated strong interest, with several group offers received, further endorsing the fact there is a continued appetite for well-performing pharmacies across the region.”
The three pharmacies were sold for an undisclosed price.
Wren Sterling acquires Mutual Financial Management
The Wren Sterling Group (Wren Sterling), providers of specialist independent financial planning advice to private and corporate clients, has acquired Mutual Financial Management LLP, an IFA based in Wilmslow, Cheshire, and MDFM Ltd, a discretionary fund manager (together “Mutual”). The deal is subject to FCA approval.
Mutual has around 1,100 clients, managing c.£675m on their behalf. The deal takes the total AuM acquired by Wren Sterling over the last 3 years over the £1bn mark and pushes its own total AuM to over £5.4bn.
The transaction is Nottingham-based Wren Sterling’s first announced deal since its secondary management buyout by Lightyear Capital completed in late 2021, and its largest to date. It follows four acquisitions in 2021 and one each in 2019 and 2020 and marks a step change in the pace and ambition of Wren Sterling’s acquisition strategy.
Mutual’s 29 employees and partners will all become part of the Wren Sterling Group. Austin Hutchinson, Mutual’s managing partner, will continue to run the business and will join Wren Sterling’s Executive Committee.
The business will be rebranded to Wren Sterling and will provide Wren Sterling with a new base in the North West to complement its seven existing locations around the UK. Once completed, Wren Sterling will comprise c. 240 staff and nearly 100 advisers.
The acquisition is in line with Wren Sterling’s strategy of acquiring strong businesses in key strategic locations, as it looks to accelerate its growth through improving its brand and proposition, simplifying its business and investing in its people. The business has a particular focus on acquiring new hubs in the London, South West, Midlands and Edinburgh markets.
Ian Darby, Wren Sterling’s executive chairman, said: “I’m delighted to welcome Austin, his fellow partners and all of Mutual’s staff to Wren Sterling. Acquiring a business of this calibre and scale is truly game-changing for us and shows the business’s renewed ambition following Lightyear’s investment.
“What truly sets Mutual apart are its people, who are highly entrepreneurial and innovation-led and share our commitment to the very highest levels of client service. Furthermore, the addition of a DFM capability gives us the option to enhance our offering for certain clients who might benefit from it, while remaining fiercely protective of our role as independent financial planners.”
Austin Hutchinson, Mutual Financial Management’s managing partner, added: “We received a lot of interest in the business, but Wren Sterling was the only company who we felt comfortable entrusting our clients and our people to. We really like the Wren Sterling business, it’s people and its growth model. These were our key considerations when choosing our long-term partner.
“Their scale, commitment to operational excellence and willingness to invest in technology and marketing, all supported by Lightyear, gave us confidence that they had both the means and the motivation to enhance our client offering and invest in our people. We’re all incredibly excited about taking the next step with our new colleagues and starting the next phase of our journey.”
Stewart Cape of KPMG acted as financial advisor to the partners of Mutual, with Nicholas Fielden of Fielden Marshall Glover Strutt providing legal advice and Rob Wardle of Azets providing tax advice.
Plans to transform derelict hall into arts and culture hub receive £1.6m boost
Plans for an arts and culture hub in the heart of Loughborough have received a £1.6 million boost from Loughborough Town Deal.
The Town Deal Board has confirmed the funding to support the Generator project which will bring a derelict hall in Packe Street back into use for the arts.
It is one of 11 projects Loughborough Town Deal is backing after securing £16.9 million of Government funding. In total, the projects are worth over £40 million of investment for the town.
The Town Deal Board is co-chaired by Cllr Jonathan Morgan, leader of Charnwood Borough Council, and Dr Nik Kotecha OBE, chairman of Loughborough-based Morningside Pharmaceuticals.
Cllr Morgan said: “We are delighted to be able to confirm the funding for the Generator project. This is a truly fascinating and unique building in the heart of Loughborough.
“It has a wonderful open space that lends itself to the arts scene and while it will support the creative community, it will also bring more footfall into the town centre and have an economic impact as well.”
Dr Kotecha said: “The Generator really showcases the variety of projects being supported by Loughborough Town Deal and I was really pleased to visit the building and see the raw potential that it possesses.
“The project team are clearly passionate about the Generator and what it can achieve, and we look forward to seeing it develop. Arts and culture are an important part of Loughborough’s social and economic fabric.”
The project is being led by Loughborough Generator Community Interest Company (CIC).
The town deal funding will support the renovation of the old Generator Hall, a 1930s building which was originally home to diesel generators that powered the then Loughborough College’s many town centre departments.
David Pagett-Wright, chair of the Generator Loughborough CIC, said: “The Town Deal funding has given us a tremendous boost. We are so pleased to be part of it.
“The Generator Hall will become the multimedia arts venue that the community of Loughborough and the wider area needs.
“It will become a cultural hub that will deliver performances, exhibitions, gigs, workshops, lectures and debates, festivals and heritage events, school visits and community engagement. We envisage a dynamic and multifunctional space serving all Loughborough communities.”
Next door to the former Generator Hall is a former art and design college building which is also part of the overall Generator project. Its renovation has been funded separately and is now home to creative industries including Ohh Deer, Cotton Clara and Our Neighbourhood. Public, a coffee shop and bakery, is on the ground floor.
So far, Loughborough Town Deal has committed to invest:
- £2.6 million to create a Digital Skills Hub at Loughborough College
- £900,000 to create a Careers and Enterprise Hub in Loughborough’s town centre
- £835,000 to help save Taylor’s Bell Foundry, the last major bell foundry in the UK
- £1.7 million to support the Bedford Square Gateway Project which is regenerating part of the town centre
- £885,000 to fund towpath improvements alongside the River Soar.
