Fresh plans submitted for 885-home community
A revised application has now been submitted that will deliver a new community containing a primary school and up to 885 new homes if plans are approved in Blaby on a site allocated by the Council for development.
Strategic land developer, L&Q Estates, has submitted a revised outline planning application to Blaby District Council for Hastings Fields at Leicester Forest East on land north of the A47 Hinckley Road in Kirby Muxloe.
The amended application involves demolishing existing buildings and building 885 homes which will include a combination of one, two, three and four-bedroom properties with 25 per cent being affordable houses for local people in housing need.
Newly-created accessible public open spaces, land reserved for a new primary school, natural green spaces, improved cycle and pedestrian connectivity and highway improvements are also included in the proposals.
The main access from Hinckley Road will be by way of a new roundabout junction which will incorporate a loop road to facilitate a diverted or new bus route within the site.
The changes to the application include additional land to the south east of the previous site boundary that includes an extra section of land extending from the A47, wrapping around Leicester Forest Rugby Club and joining the previous site boundary.
The addition of the new land would create a second point of access for pedestrians and cyclists on to Hinckley Road.
Richard Edwards, group planning director at L&Q Estates whose headquarters are in Warwick, said a revised application had been submitted to provide a more comprehensive and cohesive development that has walking and cycling at its heart.
He said: “We have brought in Dr Stefan Kruczkowski, a nationally recognised urban design practitioner, into the design team to help shape the development into a truly sustainable 21st century development.
“The final detailed design will be governed by a comprehensive design code to ensure the key design and movement aspects are delivered as set out in the application. We have submitted the new plans which further improve the design of the scheme on the site which was allocated for housing as part of Blaby’s Local Plan.
“The site area has increased from 39.11 hectares to 44.01 hectares and the number of proposed houses has increased from 750 to 885. A one-form entry primary school is planned along with improving walking and cycling connectivity which is really important in creating an integrated sustainable community.”
The application is expected to be discussed by Blaby District Council Planning Committee early in 2022.
Sales grow at Eurocell while effective action taken to mitigate cost inflation and supply chain pressures
Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, remains on track to deliver profit before tax for the full year in line with market expectations despite ongoing cost inflation and supply chain pressures.
In a trading update, the Derbyshire-based company said that group sales for the four months to 31 October were up 18% compared to 2019 and 5% compared to 2020, with the latter reflecting a very strong second half last year.
For the ten months to 31 October 2021, sales were up 21% compared to 2019 and 38% compared to 2020.
Eurocell said: “The positive sales trends from H1 have continued into the second half of the year, supported by good underlying demand in our markets. We are taking effective action to mitigate ongoing cost inflation and supply chain pressures. As a result, we remain on track to deliver profit before tax for the full year in line with market expectations.”
BTL going green! By Nic Rotton, Sterling Commercial Finance
Nic Rotton, Commercial Mortgage Consultant at Sterling Commercial Finance, speaks on the recent green evolution of BTL.
We recently celebrated the 25th anniversary of Buy to Let and my last blog explored how it has evolved over the years.
One of the recent evolutions has been the launch of green BTL mortgages by a number of Lenders. This isn’t to suggest that the mortgage itself is eco-friendly, but it goes some way to facilitating the UK Government’s push to make our housing stock more environmentally friendly.
It is estimated that 15% of all UK emissions come from our housing and one of the Government initiatives to reduce this is the requirement for all rented houses to reach an Energy Performance Certificate (EPC) rating of at least C by 2025 (existing tenancies have until 2028). The current minimum standard is an EPC of E, which would suggest a significant number of landlords will need to invest in their portfolio over the coming years in order to ensure this stock is available to rent. Without action, we risk a substantial proportion of the Private Rental Sector becoming unrentable and therefore unable to secure a mortgage or resell as a BTL.
2025 is not that far away (I can’t believe it’s less than 8 weeks to the end of 2021), and my message to landlords is to act now ahead of the rule change in 2025. There is a recognition by the mortgage industry that many landlords will need support from lenders to make these changes. In addition, upgrades aren’t normally straightforward or quick to resolve and trying to access good quality builders is already providing a challenge. I heard of one client saying his recommended builder was booked up for almost the next 12 months!
We have seen an increase in the requirement for short-term finance (bridging finance) for light and heavy refurbishment in the last 12 months in order to improve the energy efficiency of the property. Quite often, there is a significant change to be made to increase the rating to an EPC of C and above and short-term finance can be a useful solution when the property will not be lettable during the refurbishment or where funds to carry out the work are not readily available. Over recent years, we have seen the introduction of innovative and competitive products to the market, whether borrowing to refinance the loan or funding for the cost of works.
The Buy to Let market has also responded with an incentive to reward landlords who are committing to increasing the energy efficiency of their properties. Lenders such as Lendinvest, Landbay, Paragon have introduced so called Green Mortgages, offered at lower rates for properties which can show EPC ratings of C and above.
Record breaking first half for Motorpoint
Motorpoint, the Derby-headquartered vehicle retailer, has witnessed a record breaking first half.
According to unaudited interim results for the six months ended 30 September 2021 (H1 FY22), revenue increased 56.1% to £605.2m, up from £387.7m in the same period last year.
The company said this reflects record performance after reopening, continued strong consumer demand for used vehicles and strong market share gains.
Profit before tax, meanwhile, increased 39.2% to £13.5m from £9.7m, despite the business’s ongoing investment in technology, people and marketing.Mark Carpenter, Chief Executive Officer of Motorpoint Group PLC, said: “The first half of the year marked a record performance for the Group. While we have naturally benefited from favourable market conditions, we have also had to contend with unprecedented vehicle inflation and widely documented shortages in available stock which undoubtedly limited our revenue and profit growth. In the end, it is our market share gains which demonstrate the unique strengths of our model.
“During the period we continued to invest in future growth with strong progress made on our medium term strategic targets as we execute on our goal of at least doubling revenue to over £2bn in the medium term.”
West Town Pharmacy in Peterborough sold to independent owners
Specialist business property adviser, Christie & Co, has announced the sale of West Town Pharmacy in Peterborough.
West Town Pharmacy is a standard hour community pharmacy with a substantial home delivery service. It has been consistently trading for a number of years and has established a strong travel vaccine customer base. The business operates from a sizeable premises with a large, open plan sales area and has excellent potential to improve over-the-counter sales.
Well-located on the outskirts of Peterborough city centre, the pharmacy sits on a predominantly residential street, within half a mile of three GP surgeries.
West Town Pharmacy was purchased by Paydens Ltd in 2016 as part of a group acquisition and was brought to market as, geographically, it did not fit with the group’s, mainly Kent-based, portfolio. It has now been purchased husband-and-wife first-time buyers, Mr Kamal and Mrs Dharini Kadhi.
Speaking on behalf of Paydens Ltd, Director, John McConville, said, “West Town Pharmacy was not a good fit for the Paydens Group, so we decided to sell the business. We are pleased that the pharmacy will be an independent family business and wish the new owners every success.”
Mark Page, Director at Christie & Co who handled the sale, said, “This is another example of a pharmacy moving from corporate ownership into independent hands which has been commonplace in the market over the past few years. We wish Mr and Mrs Kadhi all the very best with their new venture.”
West Town Pharmacy was sold for an undisclosed price.
Council plans £26.6m property deal to provide hundreds of council homes
Plans to invest over £26million to acquire hundreds of new homes and address the growing need for affordable housing in Leicester have been announced by the city council.
Leicester City Council intends to buy 371 new properties at a cost of £26.6million.
The money will come from £100million of capital set aside by the city council to support the delivery of affordable housing in Leicester and help increase the number of homes available through the council’s housing register. This will include £10.5million from a pot of cash retained from the sale of council properties under the Government’s Right to Buy scheme.
The vast majority (366) of the properties being purchased are a mix of bedsits, studios and one-bedroom flats. The council will also buy four 2-bedroom flats and a three-bedroom house as part of the deal.
Currently, there are 6,366 households on the council’s housing register, waiting for suitable homes. Of these, over a quarter are waiting for one-bedroom accommodation, with the average waiting time between five months for those assessed as being in the highest priority people, and two years.
The Leicester & Leicestershire Housing and Economic Needs Assessment (HEDNA) 2017 concluded that the city needs a further 786 new units of affordable housing each year to meet need.
City Mayor Peter Soulsby said: “There is a desperate need for more affordable housing in the city and we are constantly looking for new ways to provide it. This major investment will significantly increase our housing stock and help address the growing need for affordable homes.
“The Government’s Right to Buy scheme means that we have been forced to sell thousands of council houses over the past 30 years. However, we can only keep half of the money raised through these sales and need to spend it within strict time limits, or we risk losing it all together. This means that it is absolutely vital that we reinvest this cash into replenishing our housing stock to help meet the desperate need for more affordable homes in the city.”
McCann selected as strategic partner for Smart Motorway Alliance
The Smart Motorway Alliance (SMA), created and operated by National Highways, has chosen its roster of contractors and partners for the framework with Nottingham-based McCann selected to work for the alliance across five packages of work.
The Smart Motorway Alliance contract was awarded in April 2021, with seven strategic partners selected to manage the framework on behalf of National Highways – including awarding works to appropriate contractors. These partners include Fluor, Jacobs, WSP, Balfour Beatty, Costain and BAM/Morgan Sindall joint venture.
Over a 10-year period, the alliance framework will be responsible for £4.5bn worth of projects across smart motorway infrastructure on behalf of the government, with work commencing in 2021. McCann has been chosen to work for the alliance across five packages covering motorway communications, road lighting, direction drilling, traffic signs, permanent CCTV systems, radar masts, MIDAS Outstation and side fire radar, ramp metering and traffic counting. It will be a Tier 1 contractor across four of the five packages it has successfully won – taking the lead on planning, budgeting and delivery. The allocation of projects to McCann is still to be determined but the value of works is estimated to be in excess of £49m per annum. News of working for the Smart Motorway Alliance aligns with the company’s three year growth plan set out at the start of 2021, which sets the target of expanding the firm by £60m – £150m by 2024. McCann’s strategic highways director, Clive Leadbetter, said: “Once again we’re delighted to be strengthening our ties to key clients and the Smart Motorway Alliance is an exciting new framework from National Highways which will deliver on key strategic objectives for the government in how we safely and efficiently maintain and upgrade our motorway network using the latest technologies. “Coupled with our SDF wins, we are perfectly placed to achieve our ambitious growth targets in the coming years and show why McCann is a major player in the successful delivery of the country’s infrastructure.”Managing Director, John McCann, said: “The Framework has been designed to encourage collaboration across our industry and we’re really looking forward to partnering with a number of firms we’re already well acquainted with such as Balfour Beatty, Costain and BAM/Morgan Sindall joint venture.
“We’re proud to be delivering once again for National Highways and to have been selected to work for the Smart Motorway Alliance. Our team brings decades of highway and motorway expertise to the framework across multiple disciplines and our track record for safe and reliable delivery speaks for itself.”Industrial unit a clean sweep for cleaning and janitorial supplies wholesaler
Hygienix Ltd, a cleaning and janitorial supplies wholesaler, has completed on a new relocation to Unit 3 Eagle Park, Alfreton Road in Derby.
The letting follows a brief marketing period which generated interest from occupiers from all over the country. The short marketing period enforces the fact that there is still high demand for industrial units in Derby.
William Speed of Salloway Property Consultants, who agreed the deal on behalf of a private client, said: “It is great to see a local company like Hygienix move onto Eagle Park, a scheme we have been involved in since the beginning.
“Eagle Park provides one of the most premium trade counter/industrial locations in Derby and consists of a variety of different occupiers. Adding Hygienix to the list of occupiers helps to boost the tenant mix on the site.”
Nick Walker from Hygienix said: “We have been looking to relocate for some time now so when this property came onto the market, we knew it was right for us. We are very excited to start a new era at Eagle Park, we recognise that it is one of the best trade counter spots in Derby and we can’t wait to make the most of it.”
William Speed added: “It is still evident that high spec industrial units are still extremely popular in Derby with more and more tenants looking for space as we come out of these uncertain times.”
Rolls-Royce delivers 1000th Trent XWB-84 engine built in Derby
Rolls-Royce announced today that it has delivered its 1000th Trent XWB–84, achieving another key milestone for the engine programme. The engine, which will power an Airbus A350-900, was built at the company’s state-of-the-art Production Test Facility in Derby, England.
The Trent XWB-84, the world’s most efficient aero engine in service, is the latest in the Trent family to reach this milestone, and has done so faster than any of its predecessors.
Following its entry into service in 2015, the Trent XWB-84, quickly became the fastest selling large engine of all time. It has now achieved more than eight million engine flying hours in service with more than 30 operators, demonstrating its versatility and capability by flying a range of different routes, from short-range segments to ultra-long-range flights of more than 18 hours.
Enabling our airline customers to build more efficient fleets, the Trent XWB-84 has a 15 per cent fuel consumption advantage over the first Trent engine, goes further on less fuel, and offers leading performance and noise levels. It is also ready to operate on Sustainable Aviation Fuels as they become more available to airlines in the future. In addition, the Trent XWB-84 has contributed to avoiding more than 10 million tonnes of CO2 since it launched in 2015 – that’s the same amount of CO2 it takes to provide electricity to nearly two million homes each year.
As well as offering improved efficiency, the Trent XWB-84 delivers a step change in maturity and reliability for the industry, consistently achieving better than 99.9% dispatch reliability.
Chris Cholerton, President Rolls-Royce Civil Aerospace, said: “Reaching this milestone is another great achievement for the Trent XWB-84, which is the most efficient aero engine in service. It is important to our customers to build ever more efficient fleets, and new-generation engines, like the Trent XWB-84 allow them to achieve this. We would like to thank everyone, including our customers, employees, partners and suppliers who have helped create the engine programme’s success.”
Sebastian Resch, Director of Operations Civil Aerospace, Rolls-Royce, said: “We take great pride in our state-of-the-art assembly line in Derby – where our highly-skilled colleagues have accumulated more than 7,500 years of assembly experience. To assemble 1000 Trent XWB-84s has required more than 25 million parts brought together and more than 6,000 assembly steps per engine. This achievement is the result of the skills and dedication of our operations teams, with the strong support of our partners in the programme: GKN Aerospace, ITP Aero, Kawasaki Heavy Industries and Mitsubishi Heavy Industries, as well as our external supply chain.”
Manufacturing orders strongest on record, but supply issues continue to bite
UK manufacturing total order books in November improved to their strongest on record (since 1977), according to the latest monthly CBI Industrial Trends Survey.
The survey of 282 manufacturers also saw export order books at their strongest since March 2019.
Output growth in the three months to November remained firm, increasing at a similarly above-average pace to October and September 2021. 12 out of 17 sectors saw output increase, with headline growth being driven largely by the food, drink & tobacco, electronic engineering, and chemicals sub-sectors. Manufacturers expect output growth to accelerate in the next three months.
Stock adequacy for finished goods worsened to its weakest on record (since April 1977). Meanwhile, expectations for output price growth in the coming quarter were at their strongest since May 1977.
Anna Leach, CBI deputy chief economist, said: “It’s good to see strong order books and output growth in the manufacturing sector holding up as we head into winter. Output growth has been steady for three months now and remains quicker than its long-run average.
“But intense supply side challenges continue to put pressure on firms’ capacity to meet demand. Alongside record order books, stock adequacy was the weakest on record in November and manufacturers are increasingly having to pass on significant cost increases to customers.
“These pressures highlight that the Government was right to establish the supply chain taskforce to address acute challenges. But with these challenges likely to persist into the new year, business is ready to work with the Government to adopt a more holistic, cross-economy approach to identifying solutions which support the entire supply chain.”
Tom Crotty, group director at INEOS and chair of the CBI Manufacturing Council, said: “It is promising that manufacturing total order books have improved to their strongest on record, with output growth seen across the majority of sub-sectors.
“However, cost pressures continue to mount amid ongoing global supply chain difficulties. It is essential that government continues to support manufacturers as we head towards the winter months. Only by working with business can they build back better post-pandemic.”
