Transformation of Broad Marsh site takes a step forward
The transformation of Nottingham’s Broad Marsh site is taking a step forward with the appointment of experts to turn an exciting vision into reality.
The site of the former shopping centre presents a unique opportunity for the city to create something special, with a vision for how it could change drawn up by the Greater Broad Marsh Advisory Group, led by acclaimed urban designer Thomas Heatherwick. Key elements of the vision are:
• Reinstating many of Nottingham’s lost streets
• A wildlife-rich green space
• Over 750 new homes
• New commercial and mixed use buildings, helping to create 3,000 jobs
• Retaining some of the structural frame of the shopping centre to create a new recreational space
• Rejuvenating the city’s unique cave network, with a new entrance and a new hotel above.
Now the City Council is appointing three experts – a master planner, development manager and advisor – to assess the vision in detail to understand what can be delivered. The appointments will be funded from the council’s capital receipts – funding it has brought in through the sale of its property assets.
City Council leader, Cllr David Mellen, said: “We are keen to continue progress on the Broad Marsh site, moving from a vision that we unveiled at the end of last year, to a master plan for this site which is full of opportunities for Nottingham.
“This requires support and it is at this stage that we are bringing in the skills of a master planner and other experts to help us progress this exciting project. This will help us put a strong submission in for Levelling Up funding from Government.
“This site now presents a once-in-a-generation opportunity to create something unique and special for Nottingham, which will complement the work that’s already underway to transform this part of the city.
“People can already see reimagined pedestrian-friendly streets and public spaces, heritage-led improvements and a new car park and bus station – with work on fitting out the new Central Library expected to begin soon.
“We have demolished a large part of the former shopping centre, part of which will be developed into a new public space linking the Broad Marsh area with the city centre.”
Council seeks to safeguard future of historic Chesterfield site
A new owner or tenant is being sought for Tapton House in a move designed to safeguard the long-term future of this historic Chesterfield site.
Backed by Chesterfield Civic Society, Chesterfield Borough Council has taken the decision to advertise Tapton House in Brimington for sale or rent – with a view to bringing the empty Grade II* listed building back into use.
Dating back to 1794, the building was built by local banking family, the Wilkinsons. It was then briefly occupied by railway pioneer George Stephenson (from 1838 to 1848) before becoming the home of the Markham family from 1873 to 1925.
It was subsequently given to the former Chesterfield Corporation by Charles Paxton Markham, who expressed the hope that it would be used for the benefit of the people of the town, leading to the creation of the former Tapton House Secondary School which occupied the site until 1991. Chesterfield College then took over the building as a base for its Higher Education provision before returning Tapton House to the council in 2018.
Councillor Dean Collins, Chesterfield Borough Council’s cabinet member for economic growth, said: “Tapton House and the surrounding area is a key heritage site in our borough, and we’re committed to finding a long-term solution that will safeguard and conserve its future.
“Since the college vacated the building three years ago, we have overseen its general repair and maintenance while looking for a suitable tenant – but are becoming increasingly concerned about incidents of vandalism and arson in the nearby Tapton Park.
“The council, just like the people of Chesterfield want the best for Tapton House, which is why we’re now keen to attract a new owner or tenant who is prepared to make the substantial investment needed to restore and refurbish the building to a standard fit for occupation.”
Philip Riden, chairman of the Chesterfield Civic Society, said: “The Civic Society committee believes that the best chance of securing the future of Tapton House is for it to be sold by the Borough Council on a long lease with planning permission for change of use back to a private residence.
“If necessary, this could be coupled with the demolition of the school buildings of 1931, which are of no special merit. Public access to the grounds could, we believe, be maintained alongside the creation of a private garden attached to the mansion.”
The property will be available for sale on a long leasehold basis for a term of 999 years at a fixed peppercorn ground rent, or to let on a new lease on commercial terms.
A number of uses will be considered, subject to appropriate consents being in place – and any final decision on the sale of Tapton House will be taken by the council’s Cabinet.
Under the terms of any sale or rental agreement, there will be a small private outdoor area for the exclusive use of the new owner or tenant but plenty of parkland left for residents to walk around and enjoy views of Tapton House.
The building will be marketed by Knight Frank.
Trio of Leicestershire pharmacies sold
Specialist business property adviser, Christie & Co, has sold three standard hours community pharmacies, Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy, all located in Leicestershire.
Sonichem Pharmacy in Braunstone Town dispenses an average of 18,000 items per month, trading from a modern premises with the aid of a large dispensing robot. It had been owned by Mr Pradip Mavji for nearly 40 years and was brought to market to allow him to pursue a well-earned retirement. The business has now been sold on a freehold basis to an East Midlands operator with more than 12 units.
Lads Chemist in Evington dispenses an average of 5,700 items per month. Previously owned by Mr Anil Lad for more than 30 years, this pharmacy was brought to market to aid plans to retire. The business has been sold on a leasehold basis to an experienced buyer who operates several retail and pharmacy businesses across the East Midlands.
Health Serve Pharmacy in Highfields dispenses an average of 3,800 items per month. The business, which was previously owned by Mrs Hardika Patel, was brought to market to allow for her semi-retirement after close to 15 years of ownership. The business was sold on a leasehold basis to a first-time buyer from Leicester.
All three pharmacies attracted multiple offers and completed in excess of their guide prices.
Carl Steer, director – medical at Christie & Co, who handled the sales, says: “These completions follow a raft of sales we’ve worked on in the county over the last three years, including Shilchem, Wymeswold Pharmacy, Paul Disney Chemist, Spiers Chemist, Oakwood Pharmacy and Rothley Pharmacy.
“These six completions, along with the recent sales of Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy show, without doubt, the robust appetite for Leicestershire pharmacies. With a few exceptions, these sales attracted swift interest, multiple viewings and offers at their full asking price or above.
“The pandemic saw a slow-down in an appetite to sell, for obvious reasons, but with the burgeoning of our applicant database, and a good appetite from banks to fund the pharmacy sector, we have a perfect blend for anyone considering a sale. Leicestershire, especially, is achieving some of the best levels of interest and offers seen across the whole of the Midlands region.”
Sonichem Pharmacy, Lads Chemist, and Health Serve Pharmacy were sold for undisclosed prices.
Planning approval secured for Loughborough apartment complex
A Loughborough site that was once a busy taxi office and workshops, that has fallen into decline and dilapidation, is set to be demolished to make way for a new fit for purpose apartment complex.
HSSP Architects have gained approval for a 16-apartment development, consisting of one and two bedrooms and a luxury penthouse style apartment.
The five storey building will be on a main arterial route from the railway station to the town centre, and on one of the most prominent corners in Loughborough.
The approval follows pre-application talks at the initial stages about how this development aligns with Charnwood Borough Council’s Masterplan to bring further improvement to the area, and ongoing discussions through the planning process.
Manufacturing output growth accelerates, but confidence falls further
UK manufacturing output grew at its fastest pace in ten months over the quarter to May, according to the latest monthly CBI Industrial Trends Survey.
Output still failed to keep pace with demand, however, as the volume of stocks of finished goods became less adequate compared with last month.
The balance of firms expecting to raise selling prices in the three months ahead increased slightly, moving closer to March’s record high.
The survey, based on the responses of 249 manufacturers, found:
- Manufacturing output growth picked up in the three months to May (balance of +30 from +19% in the three months to April), with output increasing at the fastest rate since the three months to July 2021. Although output growth is expected to ease in the three months to July (+23%), the pace of expansion will remain comfortably above the long-term average (+9).
- Total new orders were above normal to a greater extent than last month (+26% from +14% in April), matching the record high seen in March. Export order books were above normal to the greatest extent since January 2018 (+19% from -9% in April).
- Stock adequacy for finished goods deteriorated in May (-15% from -3%). 26% of manufacturers this month said stocks were inadequate, with 11% saying that stocks were more than adequate and 54% saying they were adequate.
- Expected domestic price growth for the three months ahead picked up slightly in May (+75% from +71% in April), moving closer to March’s survey record high (+80%).
- Confidence showed a further decline in the quarter to May (-30%), while investment plans for buildings (-6%) and plant and machinery (-2%) remained weak.
The Access Group commits further to Australia and New Zealand with new acquisition
The Access Group and Reckon have reached a $100m agreement for Loughborough-headquartered Access to acquire Reckon Accountants Group, including APS and Reckon Elite, in Australia and New Zealand.
The acquisition reinforces Access’ commitment to the region and to the accountant’s industry, signalling its intent to advance its tax and practice management offering for ANZ accounting firms.
Today’s announcement marks the 10th acquisition in three years for Access in the Asia Pacific region, building on the purchases of Attaché, Unleashed, Joyful, Volcanic, Sage Australia and Asia businesses, Definitiv, EziTracker, Fastrack360 and Vincere since 2019.
Reckon is a provider of practice software and business management solutions designed specifically for accounting firms.
The Access Group has gone from having no presence in the region to 2019, to today supporting more than 35,000 customers, with 900 colleagues, across five countries.
Kerry Agiasotis, president of The Access Group Asia Pacific, said: “The acquisition of Reckon Accountants Group further reinforces Access’ commitment to the accountant’s industry in Australia and New Zealand, which commenced with the purchase of HandiSoft as part of its acquisition of Sage’s Australia and Asia businesses in 2021. With this being our 10th acquisition in the region in just three years, it shows our strong commitment toward rapidly scaling Access Asia Pacific to best support our customers evolving needs.
“We are bringing together two businesses with a strong track record over more than 30 years delivering end-to-end solutions tailored to the specific needs of accounting firms in ANZ. With The Access Group and Reckon Accountants Groups combined industry experience, capabilities and resources, we are uniquely placed to continue to deliver the breadth and depth of software solutions that accounting firms require to adapt their practices to their clients’ rapidly changing needs.
“The combination of our expanded tax and practice management portfolio coupled with cloud technologies and the Access Workspace platform, come together to create an exciting set of new possibilities for our accounting customers. From hosting existing applications, integrating with new cloud point solutions or replacing with whole new cloud native application suites, our aim is to give our clients confidence that we will support them into the future at a pace that works for them.”
Reckon CEO Sam Allert said: “This partnership is good news for our customers, our employees and for the market. The proposed transaction agreement with The Access Group represents a compelling offer, which is also clearly in the best interests of our shareholders. The Board has always maintained that the sum of the company’s parts is worth more than what has been attributed to the whole, and this proposed transaction validates this.
“For our APS and Reckon Elite customers, we are thrilled to bring them the deep specialisation that Access boasts within the practice management market, and offer an extended portfolio of solutions that will deliver added value to our customers and theirs.
“We have spent more than 20 years imagining ways to create brave, new and progressive accounting firms. This acquisition is the natural next step to ensuring continued investment in our vision to simplify business for the benefit of all our customers.
“In joining with The Access Group our teams can broaden the service and solutions available to customers, build on the vision for growth we all share, and ultimately make this a reality for our growing client base.
“In addition, Reckon will be in a much stronger position to unlock further shareholder value through the growth and development of the remaining Business and Legal Groups not captured in this agreement. These divisions have represented approximately 70 per cent of the company’s revenue and a significant portion of EBITDA prior to the initiation of this agreement.
“With this transaction, Reckon will be well placed to accelerate the strategy of delivering a complete suite of accounting & payroll cloud solutions to help small businesses turn ambition into accomplishment, building upon our 114,000 cloud customers, as well as pursue practice management opportunities in the legal market. Proceeds from the sale will also allow the company to reward shareholders with a special dividend, continuing our trend of providing a stable income stream,” Mr Allert said.
Kettering foiling services firm acquired by Gloucester business
Window Widgets has acquired Kettering-based Profoil Limited, a specialist of foil lamination for over 25 years, and have announced the formation of the Q19 Group.
Profoil provides foiling services to the fenestration and building materials markets in the UK and Republic of Ireland.
Gloucester-based Window Widgets began in 2000 and became the largest range of universal ancillaries for the fenestration market.
The deal was put together by the Q19 director team with advice from Cattaneo Corporate Finance and Legal Clarity, with financial support from Shawbrook Bank. The management of Profoil Limited were advised by Kingswood Business Sales, a division of Richmond Capital Partners.
Sarah Hitchings, sales and marketing director of Q19 Group, said: “I, along with the other directors of the business, are pleased to announce the strategic acquisition of Profoil, a key supplier to Window Widgets. We now have an opportunity to continue investing and realising the considerable potential of Profoil within our group.”
Visit APSS at the Lincolnshire Business Expo 2022
Commercial interior design and fit out company APSS is exhibiting at the Lincolnshire Business Expo 2022, helping businesses create the right working environment for staff to promote productivity and morale.
Hosted at the Lincolnshire Showground by CityX on Tuesday 24 May, expert staff will be on hand, ready to provide inspirational ideas to make your business stand out from competitors and streamline efficiency.
Stuart Marsland, sales director for APSS, said: “The way offices are used has changed drastically over the last two years. Whilst some have returned full time to the office, many companies have found the benefits of hybrid working. They want to adapt their workspace to a more communal meeting space. Companies are focusing on how to bring the home comforts into the office and moving away from the more traditional banks of desks.”
APSS works across a range of industries including commercial, industrial, retail, leisure, education and healthcare.
“We are here to help businesses find the right balance for their staff, helping to take their concept and make it a reality,” added Stuart. “Our team, who will be available to speak to on the stand ES6, can help provide ideas and inspiration for small changes, large-scale fit outs and refurbishments.”
From concept to completion, APSS provides personal service and creates a stunning work environment for all types of businesses. Get in touch to let them know you’re coming, book a slot to speak with them or just turn up on the day.
Nottingham City Council reports smallest pay gaps among Core City councils
Nottingham City Council is making “good progress” towards closing pay gaps between staff of different gender, ethnicity and disability.
The authority compares well with other councils and local public sector organisations – with data showing that across the whole organisation, it has the smallest average gender pay gap among Core City councils and lower than many local public sector organisations.
Across the council, the average female member of staff earns 97p for every pound earned by her male counterpart – a 2.9% pay gap – while for middle earners the gap is smaller still, at 0.5%. The discrepancies are down to more men being in higher-paid jobs and more women being in lower-paid jobs.
Meanwhile, disabled employees on average are paid slightly more than able-bodied colleagues – £1.01 for every £1, a gap of minus 1.1%. this rises to £1.10 for every £1, a gap of minus 10.4%, among middle earners, which is up from 5.8% in 2020. This is because disabled employees are very evenly spread throughout the organisation, with slightly higher representation in middle and higher ranked posts.
Among Black, Asian and Minority Ethnic (BAME) staff, most earn 94p for every £1 white colleagues earn – up slightly from 2020, with middle earners receiving 91p for every £1, or a 9.4% pay gap. The differences are likely to exist because White British employees are slightly overrepresented higher up in the organisation and slightly more BAME employees in lower paid roles.
The council says it is continually seeking ways to support and develop its staff, including embedding Equality, Diversity and Inclusion within the organisation’s culture and developing ongoing learning and resources to support leaders to work in an inclusive way. Measures include introducing programmes such as the Change Academy, which responds to calls from staff for more development opportunities and will help the council to “grow its own” to drive the transformation and improvement of the organisation.
Nottingham City Council’s Chief Executive, Mel Barrett, said: “We are headed in the right direction towards closing pay gaps, and compare favourably with Core City councils and local public sector organisations. We are not shying away from this issue and are taking active steps to bring about positive change. Despite the positive progress, we are not going to become complacent and will continue to ensure that there is equity of pay throughout the organisation.
“Our aspiration is for Nottingham to be an internationally successful and prosperous city that offers its residents the means and opportunities to realise their potential. Pay gap reporting helps us to identify inequalities that need to be addressed.”
Astorg not moving forward with offer for Ideagen
Astorg has backed out of bidding for Ideagen, the Nottinghamshire-based software firm.
It was revealed that the private equity firm had proposed a cash offer for the company at the start of May, as had Hg, coinciding with private equity firm Cinven confirming it did not intend to move forward with an offer for the business.
An announcement today reads: “Further to the announcements made by Ideagen on 5 May 2022 and 9 May 2022 in which Astorg was identified as a potential bidder for Ideagen, Astorg today confirms that funds represented by Astorg do not intend to make an offer for Ideagen.”
Meanwhile, Hg has put forward an offer to acquire Ideagen, valuing the business at £1.05bn.
Revealing this, Richard Longdon, non-executive chairman of Ideagen, said: “The Ideagen directors unanimously intend to recommend the offer to shareholders.
“The all-cash offer represents a compelling and attractive opportunity for shareholders to realise and crystallise their investment in Ideagen in the near term and also provides a significant premium to the prevailing share price notwithstanding the backdrop of the wider risks posed by the political and macro-economic environment.
“The offer reflects the quality, strength and long-term performance of Ideagen’s businesses and its future growth potential. We believe that Hg’s track-record and expertise in supporting and growing software businesses would provide a complementary partner for Ideagen’s stakeholders.”
Christopher Fielding, Joris Van Gool and Jean-Baptiste Brian, partners at Hg, said: “At Hg, we have spent over 20 years focused on the business-to-business software space. We have long admired how Ben and his highly motivated team have grown Ideagen into a leader in its sector.
“Our experience in the sector gives us strong conviction that Ideagen represents a high-quality platform, and we are committed to providing additional capital and resources that are required to further support and enhance Ideagen’s next phase of growth.
“Hg has a strong track record of investing in and growing UK-based software businesses. We recognise that Ideagen is a global organisation with stakeholders around the world, but with deep community ties and a strong local heritage. We strongly believe that the core of the business should be maintained in its Nottingham base, including its executive team and technological development centre.”
