Plans for 380 new homes at Penniment Farm, Abbott Road, Mansfield, have been submitted to Mansfield District Council.
The site, which is part of the Mansfield Local Plan, already has outline planning permission for up to 400 homes. The application includes significant financial contributions exceeding £2.5 million, including nearly £1.6 million contribution towards primary school education in the Pleasley, along with over £500,000 allocated for bus service improvements. The proposed development will feature a mix of 1 to 4-bedroom homes, all fitted with electric vehicle chargers. As part of the development, 28 homes will be offered as affordable rent or shared ownership options. Residents will benefit from approximately 6.25 acres of public open space, equivalent to four football pitches, and two on-site children’s play areas. The development also features biodiversity enhancements such as a bat commuting corridor, hedgehog highways and bird boxes. George Breed, Senior Land and Planning Manager for Persimmon Nottingham, said: “We are delighted to have submitted our reserved matters application for Penniment Farm, this development will provide high-quality new homes for local homebuyers alongside significant investment into the local area. “We look forward to working with Mansfield District Council and local stakeholders to bring this project to life.”boohoo responds to Frasers Group’s CEO push
Online fashion group boohoo has responed to a letter issued by Frasers Group in which it pushes the business to make Frasers’ founder Mike Ashley CEO, amidst a “leadership crisis.”
While the Board of boohoo is in the process of reviewing the requisitions with its advisers, it has spoken out to give clarification on certain matters raised by Frasers.
boohoo says it has neither delayed responding to Frasers’ requests for Board representation or ignored them, adding: “Frasers’ wish for Mike Ashley to be appointed as a Director and Chief Executive Officer was first communicated by Frasers to boohoo at an in-person meeting on the evening of Friday 18 October 2024, when Frasers sought to establish a 48-hour deadline for the Board to confirm that it would proceed to make this appointment.
“This was the first occasion on which Frasers had identified its preferred Board candidate and followed Frasers having formally ruled out Mr Ashley for the role on 9 October 2024 and having previously and consistently indicated that its one nominee would perform a non-executive role.”
With Ashley a 73% shareholder in Frasers, Frasers owning a 23.6% stake in ASOS, and both Frasers and ASOS operating in similar markets to boohoo, boohoo noted that “these are important facts that need to be taken into account and carefully considered by the Board.”
Boohoo continued: “Whilst the Board remains willing to discuss Board representation with Frasers in a constructive manner, it has been clear with Frasers that before any appointment can be made, appropriate governance will be required to protect the Company’s commercial position and the interests of other shareholders. boohoo has sought assurances from Frasers in this regard and they have not to date been provided.”
Boohoo also commented on Frasers’ critique of its recent debt refinancing, saying it is “inaccurate and unfair.” Boohoo said: “The refinancing provides certainty for the Company around its future requirements and is supported by its existing group of high street banks.
“The Company’s approach to its recent debt refinancing was discussed on numerous occasions with Frasers and its advisers. As part of those discussions Frasers were advised that the Board would be pleased to consider any alternative proposals they might wish to present, but none were forthcoming.”
Shirebrook-based Frasers Group, the largest shareholder in boohoo, with 27% of the issued share capital, is calling for a meeting of shareholders to vote on appointing Mike Ashley as a director and CEO, as well as Mike Lennon, a restructuring expert, as a director. It comes after boohoo announced that John Lyttle would be stepping down as CEO, following five years with the Group, and amidst declining revenue. In its letter, Frasers critiqued the business’s Board, saying it has lost its ability to manage boohoo’s business and investments.Step forward for Northampton’s Greyfriars regeneration as council completes purchase of iconic Corn Exchange
West Northamptonshire Council (WNC) has completed the purchase of the Corn Exchange in Northampton, marking a key milestone in its ambitious plans to revitalise Northampton town centre and transform the Greyfriars area.
The Corn Exchange, a historic building that has stood empty for over a decade, will soon be brought back to life as part of a wider vision for a vibrant, multi-generational neighbourhood.
Once a-thriving hub for cinema and entertainment before becoming the Chicago Rock Café, the Corn Exchange has long been a beloved part of the town’s history.
The Council’s acquisition of the building signals a significant step forward in the transformation of Greyfriars, where WNC plans to create a new, connected neighbourhood featuring green spaces, entertainment areas, and improved transport routes.
The Corn Exchange will serve as the cultural anchor of the Greyfriars redevelopment, reimagined as a venue for entertainment, leisure, and performance that will attract both daytime and evening visitors.
Cllr Daniel Lister, Cabinet Member for Local Economy, Culture and Leisure at WNC, said: “The Corn Exchange has been a part of Northampton’s rich heritage, and we are thrilled to take ownership of this iconic building as part of our broader vision for Greyfriars.
“By restoring it to its roots as a place for entertainment, we are safeguarding its history while creating new opportunities for cultural and economic growth. This project is not just about redeveloping a site—it’s about reconnecting our community with its town centre, breathing new life into a cherished space, and building a future that is vibrant and inclusive for all.”
The site will be an integral part of the Greyfriars masterplan, which has been developed through extensive public consultation with local residents and businesses. The 25-acre area is set to transform into a dynamic and inclusive neighbourhood, integrating the historic building into a space designed for the future.
The Council is working closely with the English Cities Fund (ECF)—a partnership between Homes England, Legal & General, and Muse—to take the project to the next level of detail.
WNC will now work with ECF to further evolve the masterplan, investigate the best uses for the building and explore funding opportunities for the delivery of the scheme. Together, the partnership will present an updated masterplan to the public and Council in spring next year for consideration and consultation.
Following the public consultation, and approval from Council, the project will then begin the necessary next steps such as planning, to bring this scheme forward.
The regeneration of the Corn Exchange also promises to improve connectivity within Northampton. Once isolated, the Greyfriars area will be seamlessly linked to the town centre, creating a direct route between the newly transformed Market Square and the Greyfriars site.
This development will create a cohesive and accessible town centre, positioning the Corn Exchange as a focal point for both the local community and Northampton’s broader cultural landscape.
76% of UK financial services chiefs to increase office attendance in next 12 months
More than three quarters (76%) of financial services leaders across the UK are planning to increase office attendance in the next 12 months, according to new research from KPMG UK.
The survey of 150 leaders working across banking, insurance, asset and wealth management and private equity found that more than a third (37%) of those planning to increase attendance will expect employees to be in the office at least four days a week.
Financial services were a first mover in returning staff to the office post-pandemic, with some of the major investment banks being the first to vocalise a vision for a full office return. However, they also see the value of the hybrid working model, with more than half (58%) of UK financial services leaders saying it is a competitive opportunity for the sector; 20% of these say the opportunity is significant.
A separate study by KPMG into the working preferences of financial services employees found that just 10% want to work in the office full time. Despite differing locational working preferences, all age groups of employees said flexibility around hybrid working is important when choosing a job.
Karim Haji, Global and UK head of financial services at KPMG, said: “There is no one-size fits all approach to this and businesses are still trying to find the hybrid working sweet spot more than two years on from the pandemic.
“Leaders see the commercial value of hybrid working models, particularly when it comes to attracting and retaining talent, but they are still expecting greater office attendance in the coming months to retain collaboration with colleagues and clients. Leaders also have to balance regulatory and risk pressures as part of managing hybrid models, which will be a contributing factor for getting staff back into the office.
“What is important is that companies find the right balance that works for their business and their employees. This will ensure that the sector retains good people and fosters a collaborative, productive culture that is successful and competitive.”
Leaders are planning to track attendance in several ways. Almost 45% plan to monitor attendance through office card swipe systems, followed by 40% using timesheets and just under a third (29%) will install digital cameras.
East Midlands businesses invited to have say on government Industrial Strategy before time runs out
With one month left until the government closes public consultation on Invest 2035 – its Industrial Strategy – East Midlands Chamber is to hold three round table webinars for the business community to help shape and influence the consultation response ahead of the 24th November deadline.
Insight and evidence gathered at the webinars – to be held on 11th, 18th and 20th November – will provide the core elements, shaping the response East Midlands Chamber delivers to the government.
The government’s Industrial Strategy proposes to boost growth across clean energy, advanced manufacturing, creative industries, clean energy, design and technologies, defence, life sciences, financial services and professional and business services. The final Industrial Strategy will be published in spring 2025, alongside the multi-year spending review.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “This is a critical moment where, with only 4 weeks until the clock runs out on the government’s public consultation, it’s essential the voice of business in the East Midlands is heard.
“The Green Paper identifies 8 key sectors which offer the highest growth opportunities for the UK economy. It is vital the East Midlands is seen as a key delivery partner for some, or all of these to ensure the region benefits from the impact on growth this strategy is set out to deliver over the next 10 years.
“We’re calling on the region’s business community share their views and experiences on the 10 questions we’ve raised including ‘How should the government identify the most important subsectors and technologies’ and ‘What barriers are there to investment?’
“It’s just a case of a business choosing one of the three webinar dates that work for them and registering. Sparing a short amount of time could really make a difference.
“These opportunities to influence policy on this scale are rare. It’s seven years since the previous government released the last Industrial Strategy, so now is a key opportunity which I’d urge businesses in the East Midlands to seize and shape the response that the Chamber presents to the government.”
Allscreens Nationwide secures windscreen repairs and replacement deal with Tesco
Leicester-based Allscreens Nationwide Ltd has been appointed as the sole-provider of windscreen repairs and replacements for Tesco.
Tesco has a national fleet of 10,000 lorries and home delivery vehicles. Operating out of 64 UK branches, Allscreens Nationwide specialises in minimising the downtime of fleet vehicles.
This contract is the largest Allscreens Nationwide has secured this year. Commenting on the deal, Sarah Harper, National Sales Manager at Allscreens Nationwide Ltd, said: “This is a significant national deal which helps to further establish Allscreens Nationwide as a leading windscreen repair and replacement company.
“We’re thrilled to add such a well-known brand to our roster of clients and we’re excited to start our work with Tesco over the coming months.”
Allscreens and Nationwide Windscreens form part of the Sole Automotive Glazing Group, which now has combined sales of £24m per annum, servicing many of the UK’s major fleets and insurance companies.
Chesterfield restaurant & foodservice supplier gobbled up
Chesterfield-based speciality restaurant & foodservice supplier, MSK Ingredients has been acquired by food ingredients specialists Ingå Group.
Founded in 1998, MSK supplies speciality functional ingredients, technical support and tools & equipment to professional chefs, restaurants, and foodservice across the UK and Europe, helping them create dishes with more precise control over flavour, colour, texture, and presentation.
Original owner, Kevin Bateman, is retiring after starting MSK in 1998, whilst partner and Managing Director, Deborah Prynne, will continue to lead the business, saying: “We are delighted to have found the right partners for this next exciting chapter of the business.”
Prynne added: “We’re confident that we have found a long-term partner that shares our vision of growing MSK for the benefit of our customers and colleagues alike, while maintaining and strengthening the values that have built the business to the success that it is today.”
This latest addition further strengthens the Ingå Group family of autonomous ingredients businesses across Europe, joining UK-based functional clean-label ingredient specialists, Ulrick & Short, France-based speciality premium ingredients company, Louis François, and Netherlands-based ingredients distributor, Verdant Ingredients.
CEO of Ingå Group, Adrian Short, said: “We are very happy to welcome MSK as our latest family member & to support them on the journey ahead. It was clear from the start of the process that MSK was a remarkable, market leading, gem of a business with compatible values to our own.
“We are looking forward to helping MSK create sustainable, long-term, value & growth helping the business achieve its potential for the benefit of existing and new customers.”
Short added: “MSK is an important piece in the puzzle as we look ahead to further acquisitions.
“The potential for future collaborations, along with the added experience and expertise, will allow us to even better access a broader customer base and product innovation within the ecosystem, ultimately creating better products for all users of food ingredients – from large scale food manufacturers to Michelin star chefs.”
Warehouse investment sold in Ilkeston
On behalf of private clients, FHP Property Consultants has completed the sale of 1 & 2 St Andrews Court, Manners Industrial Estate, Ilkeston, comprising 12,718 sq ft of industrial warehouse space.
The property features a steel portal frame building split into two units. Unit 1 comprises 6,877 sq ft of open plan warehouse accommodation with offices and staff welfare facilities and was vacant. Unit 2 comprises 4,594 sq ft of open plan warehouse accommodation and is let to Adams Engineering (Ilkeston) Limited at a rent of £27,000 per annum for a term expiring October 2029.
The price achieved was £981,755.
Corbin Archer from FHP Property Consultants said: “I am pleased to have sold this property on behalf of a longstanding client of FHP, achieving an excellent result having only been marketing the investment for two weeks prior to placing it under offer showing the strong demand for freehold warehouse properties in Ilkeston.
“Even after placing the property under offer, I was still getting constant calls from owner occupiers/investors wanting to purchase the property as there is such little available in the area for sale.”
Revenue declines at “distracted” Travis Perkins
Group revenue is down at Travis Perkins, the Northampton-based builders’ merchant, with the firm’s CEO saying “the Group has allowed itself to become distracted and overly internally focused which has led to the underperformance in recent periods.”
According to a third quarter trading update for the three months to 30 September 2024, revenue declined by 5.7%, driven by the Merchanting segment.
Toolstation, meanwhile, delivered a “robust performance” with growth of 2.9% in the quarter in the UK and Benelux like-for-like sales up 9.6%.
Toolstation France remains on track for full closure by the end of FY24, with 8 branches being sold to Quincaillerie Angles as a going concern and the remaining 43 branches, alongside the transactional website, having now ceased trading.
Given the shortfall in the Merchanting segment, the Board now expects FY24 adjusted operating profit to be around £135m.
Pete Redfern, Chief Executive of Travis Perkins plc, said: “My first few weeks at Travis Perkins Group have reaffirmed that this is a business with many strengths – the quality of our nationwide branch network, strong customer and supplier relationships and, above all, an experienced team of branch managers and commercial leaders within the business.
“Travis Perkins Group plays a critical role in the construction industry. Connecting our customers with the products and tools they need and removing the friction from fragmented and complex supply chains will be core to our strategy.
“However, it is clear that the Group has allowed itself to become distracted and overly internally focused which has led to the underperformance in recent periods. We now need to get back to a focus on operational execution – delivering great products and great customer service and better leveraging our reach and scale.
“Over the last nine months the team has made good progress on implementing cost discipline, improving working capital management and exiting Toolstation France.
“In addition to supporting these ongoing actions, my immediate priorities are driving and incentivising branch-led performance and motivation, identifying further ways to make the business run more efficiently and ensuring that we turn and face the anticipated recovery in the UK construction market.
“During this important period, I will combine the roles of Group Chief Executive and Managing Director of the Travis Perkins General Merchant business. This will allow me to shorten reporting lines and develop our new strategy, working closely with the operational leaders of this business as well as the Group Leadership Team.
“I am confident that together we can bring significant improvements in performance and the execution of change.”
Administrators appointed to Nottinghamshire manufacturer
Nottinghamshire-based business Dale (Mansfield) Limited has fallen into administration.
Dale was established in the early 1970s, initially offering engineering, manufacturing, design and subcontracting services to the deep mining industry.
Following the decline of the UK mining industry, the company diversified its business into other industries including manufacturing hydraulic cylinders and supplying quality machined parts through to fabricated assemblies. It employed 34 members of staff.
The company has now ceased to trade, with employees made redundant.
Richard Pinder, Director, Restructuring and Insolvency, at Leonard Curtis, who alongside Sean Williams was appointed joint administrator of the business on 15 October, said: “The company ran a marketing campaign last year to find a purchaser or investor to take the business forward which unfortunately was unsuccessful.
“Upon my instruction to advise the company, it was clear that its financial and operational position was such that there was no realistic prospect of avoiding a cessation of trade and there was insufficient working capital or work in progress to support continued trade, even in the immediate short term.
“The company therefore ceased to trade earlier this month and the employees were made redundant.
“We are currently assisting the Redundancy Payments Service in dealing with the processing and payment of employee claims for redundancy and their other entitlements.
“It is possible that unsecured creditors will receive some funds back through the administration process, although at this early stage this position is uncertain.”
A public auction of the company’s assets will be conducted by John Pye & Sons.
