50% turnover growth and new Nottingham office for recruiter born out of pandemic

Specialist recruitment consultancy Prescient Group is celebrating doubling its turnover in its second year of business and its move to a new office in Nottingham. The firm, which has further branches in Manchester and London, was formed during the pandemic in 2020 by seasoned recruiters Joel Fletcher, Charlotte Churm and Ed Robinson. With a specialism in office professional, Prescient Group has experienced rapid growth since its inception, with turnover growing by over 50% in 2022 compared to 2021. The company is also on track to reach a £1m turnover by the end of this year. The company has grown to eight recruitment professionals, with the recent appointment of Georgie Leech as temps account manager and Daisy Owen as permanent consultant, and recruitment continues across its three offices, which will take its headcount to 15 by the end of 2023. The expansion of the team and continued demand for its recruitment services – which cover office, supply chain, marketing, finance and HR – has led to the team taking the lease of a new, larger office on Bridlesmith Walk in Nottingham, having previously been in Atomic House on High Pavement. Director, Joel Fletcher, said: “We set up Prescient Group to quite simply provide our clients with an honest, ethical and first-class service and truly work in partnership with them and our candidates. “We have worked hard to define our offering, invest in technology and build a team of skilled and passionate professionals. This collectively has enabled us to be agile and provide the very best service to our clients and enabled us to invest out time to provide bespoke advice and coaching to our candidates. “Charlotte, Ed and I are over the moon with how the business is performing and the difference we are making to people’s lives. The impact of people being placed in the right role for them cannot be underestimated and that is why we love what we do.” Over its 20-months in business, Prescient Group has built up a portfolio of 65 clients, added executive search to its offer and expanded into the international market. Joel continued: “From the outset, we have reinvested our revenues into company development which has enabled us continually to recruit the best of the best. We empower our people and deliver bespoke training, so they have the skills and confidence they need to deliver. As a team, we are incredibly excited to be on this growth journey and want to thank our clients and candidates for choosing to work with us.”

Property investor acquires 47,882 sq ft industrial facility for £3.5m

Custodian REIT, the property investment company, has acquired a 47,882 sq ft industrial facility located two miles from junction 29 of the M1 near Chesterfield. The industrial facility is fully let to Container Components Limited with 20 years remaining on the lease. The £3.5 million acquisition was funded from the company’s existing debt facilities. Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the company’s discretionary investment manager), said: “This well located, modern industrial asset has been acquired at an entry yield of 6.10% which is significantly above the market average for industrial assets. “The property also benefits from five-yearly index linked rental increases which provide long-term inflation-adjusted income. The acquisition demonstrates our continued ability to source high quality assets on behalf of our shareholders which offer enhanced but secure income returns by focussing on smaller sized properties where there is reduced competition.”

Rolls-Royce appoints new CEO

Tufan Erginbilgic has been appointed as Rolls-Royce’s new Chief Executive Officer and an executive director of Rolls-Royce Holdings plc. Taking up his new role on 1 January 2023, Tufan will succeed Warren East. Tufan, who has a background in engineering, has built his career in international business including over 20 years with BP, with five years as part of its executive team. In his last role before leaving in 2020, he led BP’s downstream business, which included Refining, Petrochemicals, Service Station Network, Lubricants, Midstream operations and the Air BP jet fuel operation. During Tufan’s tenure, the business was transformed, achieving record profitability and delivering record-setting safety performance. He has held several non-executive directorships in heavy industry and manufacturing companies, including at aerospace technology group GKN. He is currently a partner at Global Infrastructure Partners (GIP), a private equity firm which focuses on large-scale investments in infrastructure businesses and manages $81bn for investors. Anita Frew, chair, Rolls-Royce, said: “I am delighted to announce the appointment of Tufan Erginbilgic as Chief Executive. He is a proven leader of winning teams within complex multinational organisations, with an ability to drive a high-performance culture and deliver results for investors. “He has extensive strategic and operational experience and a firm understanding of safety critical industries, including aerospace, as well as the challenges and commercial opportunities presented by the drive for low carbon technologies. “He has a strong track record for execution, delivery and the creation of significant value. I look forward to him building on the strategic foundations that Rolls-Royce has laid over recent years.” Tufan Erginbilgic said: “I am honoured to be joining Rolls-Royce at a time of significant commercial opportunity and strategic evolution as its customers embrace the energy transition. “I am determined to deliver the full potential of the market positions which the company has built over many years, through its engineering excellence and innovative technology, and to build a platform for growth in order to create value for all stakeholders. “I look forward to working with customers, partners and the Rolls-Royce team across the world on the next successful chapter for this iconic global engineering brand.” Tufan Erginbilgic is currently a non-executive director of multinational transport vehicle manufacturer Iveco Group NV; energy, healthcare and technology group DCC plc; and energy company Türkiye Petrol Rafinerileri A.Ş (Tupras). Tufan will be reviewing his involvement in these positions.

Games Workshop CEO hails “astonishing year” as revenue and profit rise

The CEO of Games Workshop, the Nottingham-headquartered manufacturer and seller of fantasy miniatures, has announced another record year for the business. According to an annual report for the 52 week period to 29 May 2022, revenue reached £414.8m, up from £369.5m in the year prior. Profit before tax meanwhile grew to £156.5m from £150.9m. Kevin Rountree, CEO of Games Workshop, said: “It’s been another astonishing year. I once again take great comfort that some things don’t change – our staff and customers love Warhammer. I thank you all for helping make this another very successful year.”

Manufacturing output and orders ease, but investment intentions recover

Growth in manufacturing output and orders eased in the quarter to July, slowing to more typical rates of expansion following a period of exceptionally strong growth over the previous year. Average costs and prices continued to rise sharply, although growth eased from recent highs. Optimism within the sector fell for a third consecutive quarter. However, investment intentions generally improved, and employment within the sector continued to grow at a robust pace, though less quickly than expected last quarter (for the third quarter running). Concerns over shortages of labour and shortages of components and materials remained acute, but off their recent highs. The survey, based on the responses of 237 manufacturing firms, found:
  • Business sentiment fell for a third consecutive quarter, but at a slower pace than in April (-21% from -34% in the quarter to April).
  • Output volumes in the quarter to July grew at the slowest pace since the quarter to April 2021 (balance of +6%, compared with +25% in quarter to June and a long-run average of +4%), with a similar rate of growth expected in the three months to October (+6%). Output rose in 10 out of 17 sub-sectors, with headline growth driven by food, drink & tobacco, and aerospace.
  • Average costs in the quarter to July increased at a slightly slower pace compared with the previous quarter, but growth remained well above average (+82%, compared with +87% in April and a long-run average of +31%). Cost growth is expected to slow a little further in the quarter to October (+77%).
  • Domestic price growth in the quarter to July also eased slightly (+51%, from +60% in April; the long-run average is +13%). Prices are expected to rise at a similar pace to the last quarter (+48%) in the quarter ahead.
  • Investment intentions for the year ahead picked up in comparison to April for plant & machinery (+17% from +9%), product & process innovation (+10% from +1%) and training (+10% from -3%). Investment in buildings is expected to fall slightly over the year ahead (-7% from -6%, though this remains above the long-run average of -17%).
  • Numbers employed grew at a similar rate to the previous quarter (+18% from +21%), with a similar rate of increase expected in the next three months (+19%).
Anna Leach, CBI deputy chief economist, said: “The manufacturing sector has been an economic bright spot in recent months, but output and orders have softened amid ongoing cost pressures, supply challenges and a generalised weakening in economic conditions both in the UK and globally. “It is encouraging, however, to see investment intentions firming. Stronger investment will be vital if the UK is to reinvigorate growth and keep recession at bay. The new prime minister will need act quickly to fan the flames of these ambitions by announcing a permanent successor to the Super Deduction and urgently reforming an outdated business rates system that currently acts as a tax on investment.” Maddie Walker, head of Industry X in the UK at Accenture, said: “Manufacturers are still contending with sky-high costs and uncertainty, and while order books remain above normal for now, a continued easing in demand will test their resilience. “There are strong signs that manufacturers are pursuing long-term strategies to see themselves through current volatility with investments in their people, plants and machinery. Rather than pull back on innovation, investing in technology will help to improve productivity, keep costs down, and unlock new ways to make products more effectively.”

Portfolio of apartments sold in West Bridgford

FHP, working in conjunction with sister company FHP Living, have completed the sale of a portfolio of 14 apartments at Bridgford Point on Radcliffe Road in West Bridgford. David Hargreaves who handled the sale on behalf of a Sheffield-based private investment company that had owned the portfolio for 20 years said: “The fourteen 2 bed apartments which sit above a parade of shops in the heart of West Bridgford close to Trent Bridge Cricket Ground, were fully let but at rents below market level. “The apartments are all larger than the norm and ranged in size from 750 sq ft to 920 sq ft with each apartment also benefitting from an on-site car parking space which again is quite unusual.” The buyer – a local family property company, benefitted from a 10% discount to open market value to reflect the “bulk sale” and intend to redecorate and upgrade the spacious apartments as and when they become vacant for reletting and sale. Top prices for 2 bed apartments in West Bridgford have been secured in The Waterside Apartments and at Trent Bridge Quays which have been sold by FHP Living achieving £250,000+, reflecting their location by the River Trent, and so this acquisition provides scope to add value to the properties through a proactive asset management plan. FHP and FHP Living are due to bring a similar portfolio to the market but this time on the edge of the city centre as well as a £10m student portfolio.

Planning permission granted for new industrial space in Nottingham

Rayner Davies Architects have received planning permission for 20,000 sq ft of industrial and trade counter space on the Glaisdale Industrial Estate in Nottingham. The site, which has been vacant for over fifteen years, will be developed to create seven units. Sizes range from 2,150 sq ft up to 3,250 sq ft, with further space available in some units on a mezzanine level. The proposed building has been developed with a rational plan form to allow for an efficient portal frame design. The building is rectangular, with a shallow pitched roof behind parapets to screen and preserve a pure rectangular shape to the gable ends. The minimalist approach to the building’s form is to be further emphasised in the material and colour choice. Each unit has a glazed pedestrian entrance and a roller shutter door. Local developers Medina Green are behind the proposals. Box Property are letting the units, some of which have already been taken. Work is expected to start on site later this year.

Barrow Hill Memorial Hall recieves lottery funding for renovation and repurposing project

The Barrow Hill Community Trust has received initial support from The National Lottery Heritage Fund for the Barrow Hill Memorial Hall Centenary Project. The £90,400 award will support the work, which aims to renovate and repurpose the upper floor rooms and exterior of the Memorial Hall whilst preserving its heritage. The initial development funding has been awarded by The National Lottery Heritage Fund to help Barrow Hill Community Trust progress their plans to apply for a full National Lottery grant at a later date. The project aims to restore the imposing frontage and key heritage features of the Memorial Hall and will renovate the first floor of the building, creating a learning, skills and heritage space in the reading room and a restored venue for celebrations and events in the former ballroom. It will create a sustainable future for the building, filling community needs and providing accessible training opportunities for volunteers and staff. The building will be run with and for local people, and be open to the world. It will become a heritage-led wellbeing and cultural destination with community at its heart. This first stage of funding will be used to replace the slate roof over the heritage space and appoint a project co-ordinator to plan a programme of activities that bring local heritage to life, giving local people the chance to find out about the past, get involved and have a say in this important development. Building on the last few years of consultation with local people, the Community Trust and design team will be finalising the designs for the building and agreeing how the hall will be re-opened to again provide much needed community services. Built in 1863 as part of Richard Barrow’s industrial model village, the Memorial Hall has long been a focal point for the area and, over the years, has been used as a Dining Hall, Workmen’s Hall, War Memorial and social centre. Gifted in trust to the community by the Staveley Coal and Iron Company in 1924, the project aims to renovate and modernise the Memorial Hall for the future while continuing to honour its legacy and its past. Commenting on the award, Simon Redding, chair of Barrow Hill Community Trust, said: “We’re delighted that we’ve received this support and would like to thank Lottery players for helping to make our vision a reality as we approach the centenary of community ownership of the Barrow Hill Memorial Hall. “This grant will enable us to further our ambition to create a building which is truly inclusive and which embraces the whole community. It’s great to know that we are a step closer to conserving the Memorial Hall and preserving it for future generations.”

Put property and construction businesses centre stage at the East Midlands Bricks Awards 2022

Shining the spotlight on the region’s property and construction businesses, raise the profile of your firm, developments, and reward your people by submitting a nomination for Business Link’s prestigious East Midlands Bricks Awards 2022 before entries close on 19 August! While winning an award at the Bricks will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly, the business that clinches the ‘overall winner’ award will also take home a year of marketing/publicity worth £20,000. A highlight in the calendar, winners will be revealed at a glittering awards ceremony on Thursday 15 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of opportunities to forge new contacts with property and construction professionals from across the region. The event will additionally welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker, as well as award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking. To submit a business or development for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.
  • Overall winner (this award cannot be entered, the winner will be selected from those nominated)
Find out who last year’s winners were here.

Book your tickets now

Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region. Dress code is standard business attire.
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Part-time music teacher wins landmark case in the Supreme Court on holiday pay calculations for ‘part-year’ workers

Hopkins Solicitors on 20th of July 2022, saw a landmark judgment in favour of their music teacher client, Mrs Lesley Brazel, by the UK Supreme Court. This decision follows her case being heard before an employment tribunal (in 2017), the Employment Appeal Tribunal (in 2018) and most recently the Court of Appeal (in 2019). The UK’s highest court confirmed the rights of part-year and zero hours contract workers to the full 5.6 weeks’ statutory paid holiday provided for under the Working Time Regulations 1998. They rejected the argument from the school that the entitlement of such workers, should be reduced on a pro-rata basis. Thanks to the judgement, it will no longer be possible for employers to argue staff who don’t work all year are only entitled to pro-rata holiday based on the hours they work. Today’s decision is also good news for anyone working irregular hours or on zero-hours contracts. From now on, all workers will be due the same legal minimum of 5.6 weeks (28 days for full-time employees), even if there are months during the year when they don’t work. Example: The Supreme Court judgment ensures leave must be paid at the rate of an ordinary week’s wages (or if pay varies every week, then an average of all the weeks worked in a year). Annual leave calculations are based on weeks, as a person can work a full week or part of one. The law says that someone working a full year is entitled to at least 5.6 weeks of annual leave (28 days for anyone working full-time hours in a week and this can include the eight bank holidays). The judgment means that an employee working all year, but say, for just two days a week is entitled to 11.2 days a year (2 x 5.6 weeks, so 2.24 weeks or 11.2 days). Lesley Brazel, the part time music teacher, said: “After an eight year legal process I am pleased to have finally secured a basic employment right in accordance with the law and as stated in my employment contract. I would like to thank the Incorporated Society of Musicians, ARAG Insurance, and the legal teams at Hopkins Solicitors and 3PB Barristers, for their outstanding professional, legal and financial assistance throughout. “I am an alumna of the Harpur Trust and I have worked for them as a visiting music teacher at Bedford Girls’ School and it’s legacy schools for 20 years, pursuing a career which I am passionate about. Emotionally it has not been an easy journey. I am indebted to my family and friends for giving me the self-confidence to see this through and for their continued encouragement and support throughout this time.” 3PB Barristers were instructed in this appeal by Hopkins Solicitors LLP to act on behalf of clarinet and saxophone teacher Mrs Lesley Brazel, who teaches at the independent Bedford Girls’ School run by the Harpur Trust. She was supported over several years of legal action by the Incorporated Society of Musicians (ISM) and ARAG who provide legal expenses insurance to the ISM’s members. Mathew Gullick QC of 3PB said: “This judgment gives clarity on the method of calculating holiday pay for people in Mrs Brazel’s position working on permanent ‘zero-hours’ contracts and who are not required to work every week of the leave year. The judgment will be of particular interest to term-time workers at schools, colleges and universities, as well as many other types of workers whose working patterns do not fit the traditional ‘full-time’ model.” Partner Carl Wright at Hopkins Solicitors said: “We are obviously delighted with both the outcome of the appeal and to have been able to clarify the law for the benefit of all of those workers who, like Mrs Brazel, work on term time only contracts. As a consequence of this decision, term time only workers will be entitled to the same minimum annual holiday as those that are contracted to work all year round.”