Nottingham office sold in £13m deal

Tess Egginton
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Nottingham office sold in £13m deal

Schroder Real Estate Investment Trust has exchanged unconditional contracts to sell The Arc, a 44,602 sq ft office in Nottingham, in a £13m deal.

The disposal price represents a 39% premium to the 31 December 2021 independent valuation of £9.35 million.

Situated on the edge of Nottingham city centre, the company acquired The Arc in August 2018. The asset produces a net rent of £622,210 per annum.

Nick Montgomery, fund manager of SREIT, said: “This sale demonstrates our ability to leverage the expertise of sector specialists to generate strong returns for shareholders.

“Having completed our business plan for this well located asset, we see attractive opportunities to redeploy the capital which, alongside the company’s pipeline of ongoing asset management activity, should support SREIT’s ambition to deliver a progressive and sustainable dividend.”

79% of business leaders expect to use remote working in the long-term

Tess Egginton
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79% of business leaders expect to use remote working in the long-term
An Institute of Directors survey of almost 700 business leaders in January 2022 has shown that around 8 out of 10 organisations plan to adopt remote working in the long-term. The research found that over a quarter (27%) of directors expect their organisations to be fully flexible, with the use of remote working being down to the individual staff member, and a further 39% intend to shift towards one to four days of remote working per week. An additional 13% reported their organisation moving entirely to remote working, while just 16% are not planning to introduce any form of remote working. The IoD also found that business leaders were split on whether working from home was more or less productive. 43% said remote working was more productive, while 31% felt it was less productive for their work. However, women have found remote working more productive than men. The net positive (percentage finding remote working more productive, minus the percentage less productive) for women is +42, compared to just +7 for men. Commenting on the findings, Alex (Alexandra) Hall-Chen, senior policy adviser at the Institute of Directors, said: “It is clear that businesses are embracing remote and hybrid working beyond the pandemic. “Remote working can be a powerful tool in improving employees’ work/life balance and job satisfaction, which contributes to a more engaged and productive workforce. It can also give employers access to a wider and more diverse talent pool, something particularly valuable in today’s competitive labour market. “However, remote working is not suitable for all organisations. Different businesses have different needs, and companies will work closely with their employees to find the best solutions.”

Booths Industrial Estate sold in off market deal

Tess Egginton
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Booths Industrial Estate sold in off market deal
Booths Industrial Estate in Ilkeston has been sold to Derbyshire-based developer PMW Property. Booths Industrial Estate comprises approximately 35,000ft2 of industrial accommodation set on a 4.5 acre site. The existing units are fully let with the remainder of the site available as hard standing land. Darran Severn of FHP Property Consultants, who confirmed the sale on behalf of private clients, said: “We were instructed to dispose of this opportunity off market and I am pleased to say we agreed a sale within a matter of days. “Booths Industrial Estate is income producing with the potential to substantially increase the rent roll by leasing the vacant hard standing sites. That combined with the possibility of future development made this an appealing site. “These types of add value assets are extremely sought after at present and we are speaking with a number of local, regional and national investors on a daily basis who are seeking these opportunities.” Matthew Wrigley of PMW Property said: “We are excited to now have completed on this new multi-let investment site in the heart of Ilkeston. There are a number of tenants that all specialise in different sectors and we are looking forward to meeting them all and getting to know them and their businesses. “The parcel of land that sits empty on the site currently we are hoping to rent as a hard standing yard as these seem to be coming harder and harder for people to find at the moment.”

BeaconMedaes makes Markham Vale move

Tess Egginton
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BeaconMedaes makes Markham Vale move
After spending several decades in their old site at Staveley, BeaconMedaes Limited, the medical gas pipeline (MPGS) turnkey provider, has recently relocated to a 42,000 sq ft facility in Markham Vale. Having outgrown their old premises in Staveley, the move indicates the growth the business has experienced over recent years. The new facility on Greaves Close has two clear objectives for the company. First, it is an opportunity to improve logistics support by consolidating the company’s off-site storage and expanding their export stock holding, centralising export picking, and bringing their export packing in-house. Furthermore, the facility will house the company’s UK Customer Centre which acts as a global Competence Centre for HTM medical installation in the UK and across the Globe. Alongside three floors of office space, the building hosts a demonstration area and a state of the art training facility. With the company’s move there is a focus on sustainability and environmental improvement. The consolidation of logistics will bring a solid reduction in their road transport footprint and the use of solar panels, alongside a complete switch to LED lighting which will help them to deliver on their sustainability commitments. General manager, Sean Fairest, said: “The relocation of our business is an exciting time for everyone. We are very proud of our new home in Markham Vale and are delighted to add our globally recognised brand to the growing list of successful companies on this prestigious site. “Looking to the future, this long-term commitment to expansion sends a clear message to the market that BeaconMedaes is determined to build on its history by further strengthening our position in the market for decades to come. I see no reason to doubt that we will be in Markham Vale for as long as we were in Staveley and with this, we will add to the growing reputation of Markham Vale as a Blue-Chip site.”

New Grade A warehouse set for Castle Donington

Tess Egginton
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New Grade A warehouse set for Castle Donington
Urban Logistics REIT (ULR) and Wilson Bowden Developments have commenced construction on a Grade A detached distribution/warehouse premises on Willow Farm Business Park, Castle Donington. The unit will extend to 4,144m² (44,608ft²) with 10 metre eaves, dock and level access loading doors, self-contained car park and yard. The unit will benefit from road links to M1 Junction 24, A50 and A42 as well as being in close proximity to East Midlands Airport. The unit is expected to reach practical completion in May 2022. Tim Gilbertson of FHP Property Consultants said: “This is a timely development and will be a very welcome addition to the market, which continues to see terrific demand and very low levels of supply. “Offering a prime location, we have already started discussions with a number of parties, some of which have viewed the site already, and we are hopeful of agreeing a deal well before the building is ready for occupation in May 2022 – testament to the great site that we have on offer here.” Toby Wilson of M1 Agency said: “This is a well located high quality unit with excellent sustainability credentials, situated in an established and successful warehouse location with easy access to both the A50 and M1. The lack of stock in the area for sub-50,000ft² is generating good levels of initial interest pre-completion in April of this year.” John Barker of Urban Logistics REIT said: “Castle Donington has been a strong market for many years and with this final plot on Willow Farm, we see no reason why this building won’t let quickly and hopefully provide a new home to an expanding local company.”

iHub Innovation Centre celebrates its fifth anniversary

Eleonora Gallina
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iHub Innovation Centre celebrates its fifth anniversary
The £12m iHub innovation centre on Infinity Park is celebrating its fifth anniversary, with the arrival of a number of ambitious, growing businesses. Since it was launched in Autumn 2016, the 45,000 ft2 facility, which is part of the Connect Derby portfolio of managed workspaces, has gone from strength to strength, attracting some of the biggest names in the region’s automotive, rail and aerospace supply chain industries. And despite the impact that the Covid-19 pandemic has had on the economy, occupancy levels at the iHub have remained consistently high, with regional, national and global businesses taking advantage of the building’s strategic location on Infinity Park, the 100-acre manufacturing focused commercial and technology site. Tenants now include global aerospace giant Airbus; Composite Braiding, which specialises in thermoplastic composite braiding and VRCO, an advanced aviation company, which is developing the world’s first British-made flying car. New tenants include leadership training and consultancy firm Project4 Learning Lab; French multinational technology consulting and engineering company, Alten and WePower Consulting, which helps businesses in the energy, construction, transport and recycling industries work towards emission reductions. An agreement with the Nuclear Advanced Manufacturing Research Centre (NAMRC) is set to bring yet more investment to the area. The NAMRC has set up home at the iHub while a multi-million pound innovation facility on Infinity Park is being developed. iHub, which has Enterprise Zone status, is the centre piece of Infinity Park, which is located between Sinfin and Chellaston, to the south of the city, close to the world headquarters of Rolls-Royce Civil Aerospace and within 15 minutes of OEMs including Bombardier, Toyota and JCB, with direct links to the A50 and M1. The iHub provides high quality, flexible workspace for start-ups, early stage businesses and high growth SME’s looking to expand their role within the transport engineering and hi-tech sectors. As well as offering 18 traditional office workspaces, the managed workspace provides 14 ground floor workshops for businesses seeking a more hybrid working environment. The state-of-the art workshops cater for a broad range of uses in a managed workspace environment. One of the unique facilities available at the iHub is the innovative ‘iLab’, which promotes invention by enabling the rapid prototyping of a range of products and services. It also boasts high end virtual reality, 3D printing and surface microscope equipment. The iHub also offers a multi-purpose ‘heart space’ area, which is establishing itself as a popular venue for conferences and events, along with meeting and seminar rooms. Speaking about the success of the iHub since its launch five years ago, Ann Bhatti, head of Connect Derby said: “We’re absolutely delighted with the high level of success the iHub has achieved since it joined the Connect Derby portfolio of buildings. “To maintain occupancy levels and be welcoming new tenants in the current economic climate is a fantastic achievement and reflects the high-quality accommodation and range of support services we have available. “The iHub provides the exact kind of quality, diverse workspace that is in high demand in Derby. We look forward to the future and to seeing the iHub attract a whole new range of world-leading companies to Derby.” Cllr Jonathan Smale, Cabinet Member for Finance, Assets and Digital at Derby City Council said: “The iHub continues to deliver year after year, even during testing economic climates, attracting some of the biggest names in the automotive, rail and aerospace supply chain industries. This success reinforces Derby’s reputation as the UK ‘capital for innovation’. “The diverse portfolio of tenants demonstrates that there is strong demand for high quality workspace, facilities and partnerships.” The iHub builds on the success of the hugely popular Connect Derby scheme, which has created a strong market for mixed use and sector specific serviced offices across the city at its six other buildings – Friar Gate Studios, Marble Hall, Riverside Chambers, Sadler Bridge Studios and Kings Chambers. The iHub has received funding from the Regional Growth Fund and European Regional Development Fund (ERDF), as well as Derby City Council and the University of Derby.  

Delivery of post-16 green and digital skills a priority to support area’s economic growth – Chesterfield and North Derbyshire Skills and Employability Conference

Tess Egginton
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Delivery of post-16 green and digital skills a priority to support area’s economic growth – Chesterfield and North Derbyshire Skills and Employability Conference
Green and digital skills have been identified as a priority to support economic growth in Chesterfield and North Derbyshire. Speaking at the sixth annual Chesterfield and North Derbyshire Skills and Employability Conference (9 February 2022), Fiona Baker, head of people and skills at D2N2 Local Enterprise Partnership, said: “We lag behind the rest of the UK in terms of productivity, and this is because our workforce doesn’t have the right skills. “There has been an exponential increase in employer demand for digital skills recently.  Businesses and education and training providers must work together to ensure that young people are equipped with the right skills to meet the local growth agenda.” With more than 16,000 students in North Derbyshire set to gain their GCSE and A level qualifications in the next five years and thousands of jobs expected to be created following investment in Staveley, the free conference brought together business leaders and the education community to address the future employability and skills of young people. The conference followed the Department for Education’s announcement last year that it plans to reform post-16 technical education and training to support people to develop the skills needed to get good jobs and improve national productivity. Organised by Chesterfield Borough Council and Destination Chesterfield, with support from D2N2 Careers Hub – Derbyshire North, the conference also heard from businesses and education and training providers in the local area. Nick Catt, Managing Director of Weightron Bilanciai, who spoke at the conference, urged local providers to work together, saying: “Schools, colleges and businesses need to engage with each other to identify the skills needed in the economy. Having a generic approach to skills doesn’t work as every local economy is different.” Julie Richards, principal and CEO of the Chesterfield College Group, welcomed the proposed changes to post-16 education saying: “The need has never been greater to work in partnership to provide our young people with post 16 options which ensure everyone in our society has opportunities to develop at all levels. We must meet their needs, and the needs of our economy now and in the future.” Cllr Amanda Serjeant, Deputy Leader of Chesterfield Borough Council and vice chair of Destination Chesterfield, added: “The conference has highlighted that one in 4 young people fall out of their post-16 education choice at age 17. We must ensure that young people get the right information at 16 and that they make an informed decision to take up the correct training provision for their own future. In turn this will help ensure they get the right training to work in highly skilled jobs which will contribute to a thriving local economy and provide a high quality of life for local people. “It is crucial that we look to the future and the skills we will need to transition to a low carbon economy in Chesterfield. Ensuring that we have the right mix of skills to support a sustainable future is key to mitigating the effects of the climate crisis. It was great to hear from employers and training providers about how they will be helping to support this transition and providing the skills needed to support a low carbon, high value local economy.” Around 100 people attended the conference at Speedwell Rooms in Staveley. The annual conference aims to strengthen links between education providers and local businesses to ensure that school leavers are work ready and have the skills required by businesses in the area. As well as representatives from the business community and skills and education providers, students from Springwell Community College, which is based in Staveley, also joined the conference. Emily Carter, Operational Careers Hub Lead at D2N2 Local Enterprise Partnership, said: “For young people, meeting employers and experiencing different workplaces is a key element in helping them find their best next step. We are delighted that local cornerstone employers, strategic partners of the D2N2 Careers Hub and Careers & Enterprise Company joined the conference to share best practice, and a huge thanks to the young people from Springwell Community College who facilitated table discussions.” With a regeneration programme currently underway in Staveley and thousands of jobs expected to be created over the next few years, Ivan Fomin, chair of Staveley Town Deal, commented: “It’s important that businesses, the council and education and training providers work together to make sure these opportunities are fully realised for local people. The Chesterfield and North Derbyshire Employability and Skills Conference is the first step in making this happen.”

Plans submitted that will transform the future development of Earl Shilton

Tess Egginton
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Plans submitted that will transform the future development of Earl Shilton
Housebuilders Bloor Homes and Jelson Homes have submitted an outline planning application to the Hinckley & Bosworth Borough Council that will transform the future development of Earl Shilton.
Proposals have been put forward for up to 1,000 homes along with a new primary school, new employment land, a community hub and play and open space as part of the Earl Shilton Sustainable Urban Development (SUE) site. This application represents approximately two thirds of the existing allocated SUE site in the Council’s Local Plan. The whole SUE site is earmarked for 1,600 homes along with employment land, a primary school, community hub and play and open space in the Council’s Earl Shilton and Barwell Area Action Plan. The final application for the remainder of the SUE site is expected in the coming weeks. A public consultation on the planning application is now running. To view and comment online, visit view and comment on a planning application and search for planning application reference 21/01511/OUT.

Trio of Derby firms pledge £60,000 to help Derby’s City of Culture bid

Tess Egginton
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Trio of Derby firms pledge £60,000 to help Derby’s City of Culture bid
Three Derbyshire companies have stepped forward to jointly pledge a total of £60,000 to help Derby’s City of Culture 2025 bid – and have set their sights on getting young people on board. Learning equipment supplier Cosy Direct, additives manufacturer Lubrizol and legal firm Smith Partnership have each pledged £5,000 over a four-year period to support the City of Culture bid, which has now been submitted to the judges. The bid organisers have called on local businesses and individuals to pledge money which would help pay for the programme of events and activities should the city be named the winner in May this year. All three firms are long-time supporters of community and charity causes in Derby and, as proud local companies, felt it was their duty to back the bid. But they say they want to give added value to their support by using their ties with local primary and secondary schools in order to get students involved in shaping the City of Culture programme to ensure that young people have a role in the celebrations too. Cosy Direct was established in the city 11 years ago and its CEO, Peter Ellse, gives 10% of its profits away to good causes every year. He has promised he will use Cosy Direct’s local connections and its extensive social media reach, which includes more than 14,000 followers on Twitter, to help spread the word among the schools and nurseries it works with. Peter said: “I’m thrilled to be making this joint commitment alongside Lubrizol and Smith Partnership. Winning the City of Culture 2025 would put the city on the map and allow us to showcase all of the great talent and activities that we have going on here. “At Cosy we feel its only right that young people are involved in that, which is why as well as a financial commitment we will all use our reach and connections to ensure that schoolchildren are given the opportunity to play their part too.” Lubrizol, which is based in Hazelwood, has also spent many years making a difference on a local level and its staff give up many hours every year to work with local schoolchildren to increase their knowledge of STEM projects. Claire Hollingshurst, quality systems manager at Lubrizol, said: “We are very proud supporters of the Derby City of Culture Bid and in partnership with Cosy and Smith Partnership, we believe that the city in which we have been proud to call home for many years, deserves the international recognition that City of Culture will bring. “Nobody can deny how science and technology has helped to shape the cultural life of Derby down the years, not least through the paintings of Joseph Wright, and we’re really excited about using our STEM work in schools as a way to encourage students to think about how they can help to shape the city’s culture in the 21st Century.” Claire Twells, who is a partner in Smith Partnership, said: “Smith Partnership have always supported culture and community since the inception of the company in 1987, we have and will always seek to support children across the city and we know the importance of education to the development of future generations. “We hope to strengthen our connections and build new ones within the community on supporting the Bid. “We have given a pledge of financial support to the Bid and we hope that the hard work and dedication of the Bid team and sub committees is rewarded by the title being awarded to the City for 2025.”

New strategic partnership to support post-COVID regeneration and the levelling up agenda across the East Midlands

Tess Egginton
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New strategic partnership to support post-COVID regeneration and the levelling up agenda across the East Midlands
A new strategic partnership between the University of Nottingham and East Midlands Chamber is set to cement links between academics and businesses to support the post-COVID recovery of the region’s economy and the levelling up agenda. The agreement with one of the largest chambers of commerce in the UK, which has more than 4,000 business members across Nottinghamshire, Derbyshire and Leicestershire, was unveiled at a launch event held at the university’s iconic Trent Building on University Campus. It will help to underpin the university’s civic mission, while widening access for businesses to world-leading research and SME support. The prestigious partnership, which is offered to organisations on an exclusive invitation-only basis, formalises at an institution level links forged between the Chamber and the Nottingham University Business School, which is a current partner on the Chamber’s Generation Next programme to support networking opportunities for young business leaders and entrepreneurs of the future. Professor David Park, associate dean of Nottingham University Business School, said: “I strongly welcome the exciting evolution of our current patronage relationship between the Chamber and the Business School, into an active, institution-wide strategic partnership designed to help deliver our shared priorities. The agreement includes details of specific, regionally-focused projects and formalises relations at the highest level between two regional powerhouses.”

How strategic partnership between East Midlands Chamber and University of Nottingham will support civic pride and businesses

The Chamber will provide a conduit to business communities in Nottingham and the wider county to support the delivery of the pioneering civic agreement between Nottingham’s two universities and local partners, which makes a number of pledges. These include the use of innovation to support a sustainable economic recovery; collaboration for environmental sustainability, supporting the city’s net zero ambitions for 2028; and to maximise the economic opportunities provided by strong local health, life sciences and medtech sectors. At the heart of this civic engagement will be Castle Meadow in Nottingham, which is to become the university’s fourth UK campus in the city, offering improved teaching and research space and dedicated provision for professional practice-based courses. It will enhance opportunities for collaboration with local business, industry and small businesses and make it easier to develop long-term, mutually beneficial relationships with partners, building on the university’s longstanding strengths in innovation, business engagement and graduate employability. One of the site’s first occupants will be the new Digital Nottingham initiative, which will support economic activity, attract investment and bridge the digital skills gap in the city, while using expertise in research to create opportunities for growth and regeneration. Combining ground-breaking work by academics in all faculties in the fields of data science, technology and innovation, the programme will build on the university’s already strong collaborations with local stakeholders in skills and business. It will provide an innovation hub – creating a research and knowledge exchange programme in artificial intelligence, data science and fintech in partnership with industry – that will deliver lasting benefit for the city’s economy. The closer collaboration between the university and Chamber places the region in a prime position to capitalise on potential additional research funding and investment brought about by the levelling up agenda, bringing together academics with businesses to find solutions to some of the world’s greatest challenges, including the development of zero carbon aviation technology to help tackle climate change. East Midlands Chamber Chief Executive Scott Knowles said: “Nottingham is undergoing a quiet revolution, with some key developments promising to transform the landscape of a city that is increasingly becoming an attractive place for people to move from other parts of the country. “In the University of Nottingham, there is also some fascinating research happening right now that could play a central role in the net zero agenda and advanced manufacturing, to name just two areas that have huge commercial potential. “By partnering with East Midlands Chamber, we can forge a strong alliance between business and academia for the greater benefit of Nottingham by helping to address key issues, and identify opportunities, in the levelling up agenda and post-COVID economic recovery. “We look forward to working closely with the university over the coming years on a wide range of activities including digital upskilling, business leadership development and the ESG agenda – complementing some of our own initiatives such as Generation Next and Sustainable East Midlands.”
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