The new Greater Lincolnshire Combined County Authority (GLCCA) is now an official body, following final communication from the Government.
The Leaders of Lincolnshire County Council and North and North East Lincolnshire unitary authorities have received an official letter from the Minister of State for Local Government and English Devolution, Jim McMahon OBE MP.
This confirms he has signed the Greater Lincolnshire Combined County Authority Regulations 2025, which created the GLCCA and devolves functions to it.
In the correspondence, the Minister added: “I would like to thank you and your officers for your hard work in enabling us to deliver this landmark agreement for the people of Greater Lincolnshire.”
Following this, the first meeting of the new authority’s board will be in early March, with the election for a Mayor going ahead as planned on Thursday 1 May.
The Leader of North East Lincolnshire Council, Cllr Philip Jackson, said: “Having enjoyed a local political career here that has spanned more than three decades, this is a true highlight.
“We now move forward with a combined county authority that can work to effect real and positive change for all our residents. We expect to see this new authority make a significant difference in key areas, such as business growth, skills and improving our housing, our infrastructure and public transport – and this is just the start.
“I would like to take this opportunity to thank all those involved in the creation of the GLCCA and bringing the very best deal here to benefit our communities.”
North Lincolnshire Council Leader, Cllr Rob Waltham MBE, said: “The formal creation of the combined authority marks the beginning of an exciting new chapter for the residents of Lincolnshire.
“With ministerial approval now secured, we can move forward with the real work of delivering better jobs, improved transport, and greater opportunities.
“This is a once-in-a-generation opportunity to take control of our own future – ensuring that investment is directed where it will have the greatest impact and that every penny is spent delivering tangible benefits for local people.
“As someone deeply rooted in Lincolnshire, I am committed to making sure this new authority drives real, positive change – protecting our communities, growing our economy, and securing a brighter future for all.”
Cllr Martin Hill OBE, the Leader of Lincolnshire County Council, added: “There has been a lot of hard work to get to this point, and much more still to do. I firmly believe that decisions that affect local people should be taken locally, and the benefits of devolution mean that we will be in charge of our own future in Greater Lincolnshire.
“These issues are really important to residents’ everyday lives, when it comes to the housing available, how we all get about the county and the jobs and training that are available.
“We’ll also be able to deal more directly with government in representing the needs of our area, and have a clearer voice to attract more investment.”
The Government confirmed its support for the GLCCA in the autumn of last year, following a two-month public consultation last January and February.
The deal brings with it an investment package of £720 million over 30 years with a one-off capital investment of £28.4 million to invest in priority schemes across the Greater Lincolnshire footprint. With it also comes an elected Mayor to chair the new authority and give the region a greater voice in Westminster.
Regeneration project given the green light to make Melton Mowbray a major cultural destination
Plans to regenerate Stockyard Melton Mowbray have been approved by Melton Borough Council’s Planning Committee, marking an important milestone for the project.
The Stockyard development is a flagship project for the council that will support the growth of the food production sector in Melton Mowbray and enhance its potential as a cultural destination.
The vision includes a range of improvements to the current site, featuring a new destination anchor building serving multiple purposes and new open plan food production hubs which will enable multi-use occupancy for business needs.
The new buildings have been carefully designed to complement the existing area, and the development will also enhance some of the existing buildings on site, such as the trader hall and existing toilets.
Stockyard forms part of a wider ambition being delivered collaboratively with Rutland County Council under the Rural Innovation in Action scheme, which has received combined UK Government Funding of £22.95m.
The approved proposals, subject to a Section 106 agreement, also include a multifunctional events space in the centre of the site, which will host a diverse calendar of activities to attract local and national visitors to the town.
Many events, such as food festivals already established on the Cattle Market site will remain and will now have the space to expand thanks to the upgraded plans.
The scheme aims to make the space a more welcoming environment for all, with significant improvements to the main walkways, additional green infrastructure and seating as well as electric vehicle charging points. Additionally, there will be the inclusion of a Changing Places toilet facility to ensure the site is accessible for all.
Councillor Pip Allnatt, Leader of Melton Borough Council and responsible for key project delivery at Melton Borough Council, said: “Following a thorough planning and engagement process with the local community and key stakeholders to help form the Stockyard project, it’s good to see that our plans have been approved.
“The scheme is a transformational development that enhances the existing site. We will be able to increase and improve the food manufacturing and education aspects on site, and we’ll also be adding new public toilets with a changing places area – a facility the local community has voiced the need for.
“The planning approval represents a significant milestone, and we’ll be keeping stakeholders up to date on progress.”
In recent years, Stockyard has acted as a local point of interest bringing people together from around the area to experience the goods that are produced on site, which has already attracted visitors to the town.
The Retail Impact Assessment showed the enhancements at Stockyard will generate further footfall and economic activity, supporting existing businesses in the town centre, whilst making full use of a unique site that cannot be replicated elsewhere.
A key part of Stockyard is to incorporate the broader Town Centre Vision, ensuring the plans link and support the wider area. The plans also include new signage directing people to the town centre and improved public realm across the site, with enhanced access.
Following planning approval and the discharge of any relevant planning conditions, work is planned to begin in the spring. The council have already received interest and are taking enquiries from potential occupiers of the new units and are encouraging interested parties to contact APB.
Barwood Capital invests for growth with key hire and promotion
Barwood Capital, the Northamptonshire-based real estate investment and development specialist, is investing for growth with a new senior hire and promotion.
The news comes following a successful year of capital raising, which saw Barwood close its fifth Growth Fund at the beginning of 2024 targeting strong, value add returns from UK commercial real estate, followed by two successful fund raises for its innovative Barwood Residential Investment Platform, BRIPs 10 & 11, and a further equity raise into its Urban Industrial Income LP, an existing multi-let industrial vehicle.
Barwood believes that the UK real estate market is poised to benefit from several key structural tailwinds – limited supply, rising rents, an improving interest rate environment, and potential government support – presenting strong opportunities for investing in undervalued assets.
To capitalise on these opportunities, Barwood has made a key hire to support its capital raising initiatives, with Will Dickens joining as Head of Business Development.
Will brings over 25 years’ experience in the real estate industry, having previously worked at King Sturge (JLL) and multinational investment bank and financial services company, Citi, as a Director within the Global Real Estate and Private Equity Team, and more recently Yoo Capital.
Will’s role will focus on leading the capital raising efforts across Barwood’s various funds, vehicles, and mandates in both the commercial and residential sectors, including seeking strategic co-investment and joint venture partners.
Will said: “The bottoming out of the UK property market during 2024, and availability of debt improving, means that we are seeing significant interest in UK property from both domestic and international investors.
“I look forward to bringing my wider relationships into the Barwood fold as the market picks up pace, supporting the company at an exciting time in its growth trajectory.”
Barwood has also promoted Danielle Sheppard as Head of Performance and Impact, with responsibility for managing Barwood’s commercial portfolios and developments, as well as overseeing its sustainability initiatives and sourcing new opportunities for its property funds.
Her new role will focus on ensuring that Barwood’s funds and mandates deliver optimal returns for investors, while upholding the company’s commitment to making a positive societal and environmental impact.
Danielle said: “I’m incredibly excited to embark on this new role, which will give me primary responsibility for managing the commercial mandates at Barwood.
“This is a particularly exciting step in my journey, due to the current diversity and ambition of the company’s investments across the UK.
“Barwood has a long-standing reputation for unlocking value from underperforming and under-managed real estate — a mission that aligns closely with my passion for sustainable investment and driving investor returns.”
Hugh Elrington, Managing Director at Barwood, said: “Our people have always been our greatest asset, and we’re proud to be able to continue attracting strong talent and giving existing team members the opportunity to grow their career.
“I’m confident that they will play in an integral role in the success of the business going forward, supporting Barwood’s next stage of growth and helping us to achieve our purpose to innovate and unlock value in both the commercial and residential markets.”
Derby’s Electric Daisy founder hails success of accountancy firm’s free year-long community programme
The leader of Derby’s Electric Daisy and Down to Earth nature projects has urged local “mission-led” organisations to apply for an accountancy firm’s free project aimed at improving life in the community.
Jamie Quince-Starkey, who runs the Electric Daisy and Down to Earth project in Bold Lane, said winning a year’s free support from Vibrant Accountancy through its Community Programme has significantly helped the organisation with its mission to help Derby become a greener city.
Electric Daisy and Down to Earth are nature regeneration events spaces in the heart of Derby that are backed by The Eden Project in Cornwall.
Now Vibrant Accountancy has launched its community business support project for 2025 and local organisations including businesses, Community Interest Companies and charities on a mission to improve life in Derby and Derbyshire have been urged to apply.
Vibrant Accountancy owner and founder Bev Wakefield is offering one winning business a year of complimentary advice services, business planning sessions and quarterly coaching to refine and improve goals.
Jamie Quince-Starkey said of winning Vibrant’s Community Programme last year: “Bev and her team were really helpful with us, levelling up our organisation and business so we didn’t have to be so granular and could take a bird’s eye view on the business.
“It has not just the financial side which has been really, really helpful. Just to have people you can talk to about other aspects of running the business – it has been like therapy.
“We’ve been able to focus on the things that we really need to. For start-ups and organisations that are purpose and mission led, because you’re so focused on that, having someone to help you with the business side of things is great.
“If organisations are out there which are about their purpose, and need that support with the business side of things, they should definitely apply.
“We have been able to grow the team which has been really helpful. Having strong budgets and targets has also been helpful.”
Vibrant’s Community Programme is a free initiative aimed at uplifting a deserving Derbyshire business. The tailor-made year of support is being offered to a business making “a real difference” in the community.
Bev said: “Our community programme is about more than supporting a business. We want to amplify the impact of those who care as deeply about our local area as the team at Vibrant does. We really hope that any organisation which is making a difference will apply for the programme and benefit from a year of expert coaching and advice.
“It’s brilliant to hear how our support has helped Down to Earth and Electric Daisy flourish and grow. Now we’d love to hear from other local organisations keen to let us know how they are making a difference to our communities.”
Midlands private equity deals increase in 2024
The number of private equity transactions completed in the Midlands increased marginally in 2024, while the total investment figure fell, according to the latest UK Private Equity Review from KPMG UK.
The comprehensive annual study into private equity deal activity found that investment in the region declined by 27.4% in 2024, to a total of £13.3 billion. The findings come following a period in which the UK experienced a more stable economic climate, with falling inflation and greater interest rate stability; increased political certainty following elections; and a surge in transactions ahead of anticipated changes to Capital Gains Tax.
Despite this fall in investment levels, the volume of deals in the region increased slightly from 157 to 160 year-on-year.
Investment in the Midlands accounted for 8.3% of total new PE backing in the UK. London continued to deliver the greatest interest from PE funds, attracting £78.1 billion of investment, ahead of the North West (£20.0 billion) and the South East (£15.8 billion).
Stuart Sewell, Head of M&A for the Midlands at KPMG UK, said: “Although private equity investment by value in the Midlands fell in 2024, deal volumes remained encouraging, with interest rate cuts likely to stimulate the market in 2025.
“Once again the Midlands made a solid contribution in terms of national investments and the region’s plethora of innovative businesses look to be in good shape to target even larger deals in the coming months.”
Work starts on 107,000 sq ft development at Derbyshire industrial and logistics scheme
Work has started on site at ARK, a new 107,000 sq ft development at Markham Vale, Derbyshire.
The £19m GDV scheme will be delivered by Origin, the UK-focused mid-box industrial and logistics platform formed by HBD, part of Henry Boot, and Feldberg Capital.
Markham Vale is a flagship 200-acre industrial and logistics scheme which was delivered by HBD in joint venture with Derbyshire County Council. An award-winning development, it sits at the heart of the UK motorway network with direct access to the M1 via a dedicated junction, J29a.
It is home to a range of businesses, including advanced manufacturers and logistics providers, with occupiers including Smurfit Westrock, Bilstein Group, Great Bear, Granger International and Sterigenics. More than 2,600 jobs have been created at Markham Vale since work began in 2006.
Henry Boot Construction has been appointed to deliver the four units at ARK, which is expected to complete in Q4 2025.
Vivienne Clements, Executive Director at HBD, said: “Markham Vale is one of the region’s leading I&L locations so it’s positive to be able to deliver further Grade A space, which remains in short supply.
“Like all of our Origin developments, all four units will have market-leading ESG credentials, prioritising sustainability and securing both BREEAM Excellent and EPC A ratings. We look forward to seeing ARK begin to take shape, attracting additional inward investment and creating new jobs.”
Jamie Acheson, Managing Director of Feldberg Capital, said: “Having only just set up the venture in December 2024, the fact that we are already on-site at ARK demonstrates our ambition to rapidly grow Origin into the UK’s leading mid-box industrial and logistics platform.”
The agents for ARK are JLL and CPP.
Bank of England reduces interest rates to 4.5%
The Bank of England has reduced interest rates to 4.5%, in line with expectations.
The Monetary Policy Committee (MPC), which sets monetary policy to meet the 2% inflation target, voted by a majority of 7–2 to reduce Bank Rate by 0.25 percentage points, to 4.5%.
Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4.25%.
The Bank said in a statement: “There has been substantial progress on disinflation over the past two years, as previous external shocks have receded, and as the restrictive stance of monetary policy has curbed second-round effects and stabilised longer-term inflation expectations. That progress has allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining Bank Rate in restrictive territory so as to continue to squeeze out persistent inflationary pressures.
“CPI inflation was 2.5% in 2024 Q4. Domestic inflationary pressures are moderating, but they remain somewhat elevated, and some indicators have eased more slowly than expected. Higher global energy costs and regulated price changes are expected to push up headline CPI inflation to 3.7% in 2025 Q3, even as underlying domestic inflationary pressures are expected to wane further. While CPI inflation is expected to fall back to around the 2% target thereafter, the Committee will pay close attention to any consequent signs of more lasting inflationary pressures.
“GDP growth has been weaker than expected at the time of the November Monetary Policy Report, and indicators of business and consumer confidence have declined. GDP growth is expected to pick up from the middle of this year. The labour market has continued to ease and is judged to be broadly in balance. Productivity growth has been weaker than previously estimated, and the Committee judges that growth in the supply capacity of the economy has weakened. As a result, the recent slowdown in demand is judged to have led to only a small margin of slack opening up.
“In support of returning inflation sustainably to the 2% target, the Committee judges that there has been sufficient progress on disinflation in domestic prices and wages to reduce Bank Rate to 4.5% at this meeting.
“Based on the Committee’s evolving view of the medium-term outlook for inflation, a gradual and careful approach to the further withdrawal of monetary policy restraint is appropriate.”
Dains makes first acquisition after securing private equity backing from IK
Accountancy and advisory services provider to the SME market, Dains Group, has made its first acquisition since securing private equity backing from IK Partners.
Consilium Chartered Accountants, based in Glasgow, has joined Dains Group, which significantly strengthens the client proposition in corporate tax, audit, and corporate finance. The team in Scotland is now almost 200 people strong with offices across the central belt.
“We were attracted to Consilium because of their advisory mindset and strong cultural values,” said Graeme Bryson, Scotland Managing Partner at Dains Group.
“It is our ambition to collaborate with our clients, to provide timely and well thought through advice based on a detailed understanding of what they are trying to achieve, and this has been the cornerstone for Consilium’s rapid growth, making them obvious strategic partners.”
David Holt, Partner at Consilium, said: “Dains approached us with a clear vision for delivering a market-leading advisory proposition for our clients, in a group that believes in providing great careers for its team.
“Upon joining the group, we enhance the range of services open to our clients and look forward to building the business in Scotland for the benefit of all our stakeholders.”
“We are delighted to welcome Consilium to the Dains Group,” said Richard McNeilly, CEO of Dains Group. “It is rare that we meet such an enterprising and client-focused leadership team and the opportunities we can create together in Scotland and across the UK and Ireland are substantial.
“We are building a very compelling proposition in Scotland, having previously partnered with William Duncan & Co, and Condies. Our group comprises over 850 people and we are determined to continue improving the proposition for our clients and the career opportunities for our talented team.”
Pete Wilson, Partner at IK, added: “It is fantastic to welcome Consilium to Dains, which represents the 11th acquisition by the group since 2021.
“Dains has a clear ambition to differentiate itself, through offering a high quality, value-adding, comprehensive suite of services for its customers, whilst engaging with the best delivery team in the SME market – I know the team cannot wait to get started.”
Dains were advised by DSW (financial and tax due diligence), Forward Corporate Finance (Financial Modelling), Deloitte (Tax structuring) and CMS (Legal). Consilium were advised by Vialex (Legal).
BakerBaird builds London link-up
Two long established PR agencies have joined forces to create an East Midlands-London partnership aiming to build a regional network across England.
Nottingham-based BakerBaird Communications’ portfolio includes some of the region’s most significant economic initiatives, including the £4bn East Midlands Combined County Authority, the East Midlands Freeport, and the East Midlands Development Corporation.
It is led by co-founders Richard Baker, a former daily newsroom deputy editor, and Stuart Baird, who was director of communications for government in the Midlands. It also works with the NHS and with a number of technology and built environment businesses.
It is partnering with Allegory, which is based in Shoreditch and was founded by Emma Thwaites, a former BBC news editor who became deputy director of strategic communications at the Cabinet Office and global policy and corporate affairs director for the Open Data Institute.
Now stewarded by CEO Charlotte McLeod, the business specialises in delivering high-impact campaigns for leading universities, research organisations, and data and AI projects for various companies and academic institutions.
The partnership combines the two companies’ experience in strategic consultancy, public relations, public affairs and marketing.
Stuart Baird said: “This time last year, BakerBaird was supporting a Midlands client to host a major event in the House of Commons and it has been our ambition to expand the influence of our clients in the capital. We knew we needed an agency with aligned values, client base and experience. Allegory is a perfect fit.
“Equally Allegory has built a reputation based on excellent delivery for influential clients, such as the AgriTech Centre, and Alan Turing Institute and brings something different to the East Midlands.”
Emma Thwaites said: “Allegory is an insight-driven business with a strong national presence, especially in London and the South East. We have deep expertise in science, data and technology, working with academic, public sector and private sector clients.
“We’ve been actively seeking a regional partner to broaden our reach. BakerBaird stands out as a rare gem outside of the capital – they’ve managed high-stakes campaigns, their team is exceptionally skilled, and they have the expertise to deliver for large-scale clients, much like those we work with.”
Much like Allegory, BakerBaird has supported major university and research projects and worked with key regional businesses. It also has significant experience of government’s devolution programme, delivering awareness raising and engagement campaigns for combined authorities and working across local authority partnerships.
The complementary strengths of both agencies will see them collaborating on a number of new ventures to provide national impact and influence for clients.
SMB College Group’s Brooksby Campus to undergo transformational development with new Agri-tech centre
SMB College Group’s Brooksby Campus is set to benefit from an investment of £18 million from the Department for Education for a transformational development project, including a brand new Agri-tech centre.
With initial building works commencing in the next few weeks, these developments will see the creation of a state-of-the-art Agri-tech centre featuring equipment such as GIS software for field and yield mapping, virtual learning environments, purpose-built labs, drones and robotics.
Dawn Whitemore, Principal and CEO of SMB College Group, said of the new development: “This is a truly transformational project for our Brooksby Campus, and we are incredibly pleased to announce the beginning of construction works for our brand new Agri-tech Centre.
“We have a rich heritage of delivering Agricultural training for many generations and are very proud of our commitment to offering innovative, forward-thinking qualifications and facilities to train the workforce of the future.
“We’d like to extend our thanks to everyone who has been involved throughout the initial planning phases of this project, and we are excited to keep the community updated going forward as the project progresses.
“The support that college has received so far from the teams at the Department for Education and Gleeds has been exceptional, along with Tilbury Douglas who have secured the contract.”
This transformation project also comes in the wake of a series of sustainability projects already underway at the college’s Brooksby Campus, which have been spearheaded by the Land-based Industries Teaching team and their students in recent years.
These impactful projects, which are still ongoing, include a regenerative agriculture/agroforestry project, the restoration of the River Wreake, and a tree planting scheme which has seen hundreds of trees planted across the 850-acre Brooksby estate.
