Final finial now in place on historic Market Hall roof
Restoration of Derby’s historic Market Hall roof is close to completion with the second and final finial being lifted into place.
The Market Hall has been undergoing a transformation beginning with the restoration of its cast iron, copper and glass roof. Completion of the roof leads the way for the internal transformation to begin, as repairs continue to the Victorian brick and stone exterior.
Cllr Mick Barker, Deputy Leader of Derby City Council, said: “Completing the restoration of this historic Market Hall roof paves the way for the rest of the Market Hall’s transformation. Soon we can move onto the internal renovation and give Derby a fantastic market which is full of life.”
Derby Market Hall will become a vibrant retail and leisure destination at the heart of city. The scheme will link various parts of the city centre together increasing the diversity of the city centre economy.
The transformation will also play a key role in creating a thriving cultural heart in the Market Place and surrounding area as part of plans to encourage economic recovery and investor confidence in the city centre.
When it reopens the transformed Market Hall will offer traditional and themed markets, events, one off or pop up uses and events, with a greater emphasis on food and drink. It will also contain a Make and Trade area where crafters and makers can create and sell their work. A traditional market offer will be complimented by a new food court and flexible events space adding to Derby’s day and night time economy.
Plans to remodel the Market Place and surrounding area as the cultural heart of the city centre is part of the wider vision for a vibrant city centre, which is key to ensuring Derby’s economy remains resilient following COVID 19. A task force, made up of representatives from both public and private sectors, is driving activity to maintain business and investor confidence, and recently a £1.75 million initiative was launched by Derby City Council to encourage more businesses to locate in the heart of Derby.
Register now for free entry to Lincolnshire’s Property & Business Investment Expo
The Property & Business Investment Lincolnshire Expo will return on Wednesday 27 April 2022 at The Bentley Hotel, Lincoln.
A well targeted, free to attend event aimed at the Construction, Property, Business, Investment, Finance, Professional Services and related B2B markets, for which Business Link is a proud partner, it has everything you require for a great day of networking and business generation.
Take this opportunity to meet more potential clients in one amazing cost effective day, than it would take months out on the road.
Opening at 9am, as the exhibition closes (circa 2pm), it will roll directly into an informal network lunch – tickets are just £25 plus vat and can be ordered and paid for directly online.
To attend the event, register for free here.
To generate opportunities by exhibiting at the event, click here.
Purchase tickets to the networking lunch here.
Clowes Developments break ground at luxury apartments in Matlock
Groundworks have begun at Matlock’s brand-new luxury apartment development, Riber View.
Riber View will comprise 47 one- and two-bedroom luxury apartments benefiting from south facing aspects towards the iconic Riber Castle, which overlooks the historic town of Matlock.
Construction contractor, Roe Developments have commenced ground improvement and piling works following the satisfaction of pre-commencement conditions set out by the local council.
The works are expected to take 12 months to complete with the apartments ready for occupation by Spring 2023.
Local agent, Sally Botham and her team of experts will be marketing the properties locally.
Residential agent Sally Botham said: “I am delighted that Sally Botham Estates will be marketing a scheme of this nature in our hometown of Matlock. Our brand-new marketing suite will be opening next door to our main office on Bank Road within a matter of weeks. We will be using this space to showcase the scheme to all prospective occupiers over the coming months. We are excited to start promoting this development on behalf of our client, Clowes Developments.”
There will also be 3,000 sq ft of ground floor retail opportunity at Riber View. The space can be taken by one occupier or split into two units to suit occupier requirements.
Ditch NICs to recover 250,000 drop in apprenticeship starts, small firms urge, as #NAW2022 gets underway
The Federation of Small Businesses (FSB) is urging the Government to look again at its planned hikes to National Insurance Contributions (NICs) to facilitate more workplace opportunities for young people as part of levelling up efforts. The recommendation comes as this year’s Apprenticeship Week begins today in England.
Last week, the Government established an aim of having “200,000 more people successfully completing high-quality skills training annually, driven by 80,000 more people completing courses in the lowest skilled areas,” as part of its Levelling Up white paper.
FSB’s latest Small Business Index shows the proportion of small firms citing lack of access to appropriately skilled staff as a barrier to growth has risen ten percentage points to 33% over the past year.
Though exemptions do exist for apprenticeships, FSB estimates that employers are paying NICs for most apprentices across the UK.
Apprenticeship starts have dropped from just under 500,000 a year in 2016/17, before the introduction of the Apprenticeship Levy, to under 325,000 in 2020/21.
To address these trends, FSB is urging policymakers to:
- Remove all employer NICs costs for apprentices to spur role creation.
- Cancel planned increases to NICs across the board and dividend taxation to free up funds for recruitment and training among entrepreneurs.
- Reintroduce the £3,000 incentive to hire an apprentice that ran until January of this year, targeting the funding at small businesses.
Two storey office block sold in Burton
Commercial property agents, Rushton Hickman Ltd, has just sold an 11,769 sq ft two storey modern office property on behalf of a private investment client to local businessman and optometrist, Mr Raheel Fayyaz.
The Derby Turn Building is located along Derby Road, Burton upon Trent and is a part let investment, providing ample car parking.
Mr Fayyaz intends to convert the unoccupied space into high quality two bed residential apartments, which he hopes to bring to the market in February 2022. Rushton Hickman have been retained immediately as the commercial property agents for marketing ground floor Suite 2, which will provide office or dry storage accommodation suitable for a business looking for swift occupation on a short or long term basis.
Mr Fayyaz said: “The Derby Turn building presented an attractive opportunity for a residential conversion following a viewing with Simon from Rushton Hickman. The location and numerous parking spaces further added to the viability of the project.
“I have worked with Simon and his colleagues for a number of years, having completed a number of acquisitions through them and trust their knowledge and guidance completely. We hope to add quality housing which is much needed in the area to the rental market in Burton on Trent, by offering luxury living at affordable prices.”
Rushton Hickman commercial property agent, Simon Walker, said: “We are delighted to have recently concluded the sale of The Derby Turn Building. The property benefits from easy access to the main A38 arterial route and is close to Burton upon Trent town centre and railway station, which makes for an ideal site to consider for a residential accommodation conversion.
“We very much look forward to continuing our business relationship with Raheel in the future and agreeing terms on more property projects with him.”
Save Derby County – Team Derby disheartened by latest meeting
A group seeking to work with the EFL and administrators to save Derby County say they are disheartened by the league’s latest position.
‘Team Derby’, made up of MPs, council leaders and business stakeholders, have been attempting to broker an agreement that would allow the football club to come to an arrangement with creditors and secure a sale to new owners.
At a joint meeting with the EFL and administrators last week, the league agreed that the High Court would be asked to adjudicate on the issue of legal claims being mounted by Middlesbrough FC and Wycombe Wanderers against the Rams.
The administrators contend that these claims should not be treated as football debts, which the league’s rules demand would have to be paid in full as part of any rescue package.
The claims, although felt to be spurious by the administrators and their legal advisors, could run to millions of pounds if they were upheld and none of the parties currently interested in buying the club are prepared to move forward while matters are unresolved.
Despite the league’s agreement last week that the issue could be put before the High Court for determination, the EFL has now issued a statement saying that the claims must be treated as if they are football debts and cannot be crammed down as part of a restructuring plan to exit administration.
At a meeting to consider the latest developments, Team Derby concluded: “We are fast losing confidence in the process and are struggling to see how actions are matching the rhetoric of trying to save DCFC.
“Team Derby feels that the EFL’s change of position is disheartening and leaves them increasingly concerned about the future of the club and they are now demanding an urgent joint meeting with EFL representatives and the administrators and will seek separate discussions with Government through Sports Minister Nigel Huddlestone.
“Parliament has already called for all parties to show pragmatism in finding a solution to ensure Derby County’s survival. So far, we have seen little evidence of this from the EFL.
“Team Derby members are concerned that another week has gone by, and we are no nearer to a solution. The situation becomes more and more perilous by the minute.
“The EFL has repeatedly said that it does not want to see Derby County fold. Now it is time for their actions to match their words.”
Robot Xchange puts fizz into processes for Coca Cola as client base and headcount soars
Nottingham-based robotic automation specialist, The Robot Exchange, has announced the completion of a major discovery project with soft drinks giant Coca Cola HBC.
In the last year, The Robot Exchange has seen a 10 times increase in clients and a headcount rise of 15 becoming a major supplier of robotic process automation (RPA) to the UK and Irish markets as customers seek greater efficiencies in their processes and seek to reduce wastage of resource and time.
The project with Coca Cola HBC saw the expanding The Robot Exchange team create a full RPA transformation roadmap for the business as part of their plans to scale up RPA digital transformation.
After reviewing existing workflow and repetitive and human intensive processes, the team worked with Coca Cola HBC’s internal business leaders and process owner SMEs within the group to talk about which processes were frustrating, causing issues or were unnecessarily time consuming.
Andy Wallace, CEO at The Robot Exchange, said: “Working with such a globally recognised brand and business has been hugely rewarding and a testimony to the quality of service that we can provide.
“I am very proud of the work the team has done in terms of documenting processes in terms of maps, sizing and checklists and identifying the best areas for automation suitability.
“We have also been able to assess the current human time and costs for our client and as a result, we have identified opportunities to improve efficiency by allocating resources in the best possible way whilst providing a clear view on the return on investment by moving to automation.”
ALB Group helps Tiger Community Hub roar onto high street
Retro gaming, beginners’ yoga and arts and crafts are just some of the activities being brought by a community initiative to a high street currently undergoing regeneration.
Tiger Community Enterprise CIC is the latest tenant to move into Nottingham’s Lister Gate.
They have moved to a unit owned by property developer ALB Group, which previously revealed ambitious plans to revitalise Lister Gate and nearby Bridlesmith Gate, having acquired 14 commercial properties in the area.
As well as offering community activities, there will also be a shop and cafe at the unit, which was a former bank and most recently used as a window display.
Tiger was established in 2013, to support enterprise and to help individuals and organisations to grow, sharing skills and building confidence.
It has led projects including making and distributing scrubs and face masks to hospitals and care homes during the pandemic, and it is currently working on reusable sanitary wear and sewing drainage bags, which are discrete bags that carry surgical drains.
It had to move from its previous base at 38 Carrington Street Urban Room, which is now a pop-up concept.
Tiger leaders have spent the past three months with their belongings in storage, waiting for the ideal space to become available.
Toni Jarvis, Tiger’s project leader, said: “We wanted something in the city centre that was going to be big enough to do all the things we want to do. We also want people to be able to access us by train, tram, bus, or car, and where Lister Gate is is really central to all these things.
“We will drive our own traffic in by doing activities, but it’s also going to be great for people living in the city centre, who say there are very little community activities to do, while also being accessible across the wider county.”
As well as selling creations made by volunteers in the shop, the cafe will also be a space for ‘social eating’, with regular cooking workshops and opportunities for people to eat as a community. There will also be work experience opportunities, particularly for people with learning difficulties.
The Nottinghamshire Federation of the Women’s Institute have already been involved in making the shop window display.
Toni added: “It’s nice to be revitalising Lister Gate. So many people are disappointed with it down there. We are hoping that lots of people come down to do activities with us.”
She praised ALB and agents FHP for the swift exchange, saying: “They have been fabulous. We were really struggling to get a decision on a previous property, with a different landlord, and when this one became vacant they moved pretty quickly. We can’t wait to get our team of Tigers back together.”
Toni said she was hopeful that Tiger will qualify for community discounted business rates.
Arran Bailey, Managing Director of Nottingham-based ALB Group, welcomed Tiger, but said: “It is currently a very difficult time to find tenants for Lister Gate with the half-demolished Broadmarsh Shopping Centre and the high rateable values on the street.
“The location is good for these sorts of tenants as they are able to achieve lower business rates than others.
“The council should be offering free or lower rates in the area to encourage business to move down there while the works continue at Broadmarsh or the properties on the street to be revalued as soon as possible, due to the decline of the area.
“As an example we have let the unit at 14 percent of the rateable value of the property which quite clearly shows how incorrect the rateable values are in Nottingham City Centre.”
Oliver Marshall, associate director with FHP, said: “It’s great to see a community-focused operation making the most of the opportunities available on the high street, bringing life into Lister Gate.
“Lister Gate is going through a period of change with the proposed redevelopment of the Broadmarsh, but FHP are working with landlords like ALB to bring new tenants into the city.
“It has been a breath of fresh air working with ALB to secure this deal with Tiger. ALB are quick to agree a deal and realistic with their expectations on rental prices they will achieve.
“This follows other successful deals for ALB including 32 Lister Gate to Hatchet Harry’s and the recent exchange of contracts at 2-4 Albert Street nearby.”
It is hoped that the Tiger Community Hub will be fully open by April 1.
The Midlands was the UK’s busiest region for deal making outside of London and the South East in 2021
A positive upturn in deal making has been recorded for the Midlands in 2021, with an 18% increase in deal volume – from 859 in 2020 up to 1,013 last year – with the market appearing to have largely recovered from the impact of the global pandemic.
That’s according to Experian’s United Kingdom and Republic of Ireland M&A Review.
Value figures climbed to the highest they have been since 2012, with a total of £21.5bn. Small deals were up by 20% from 2020 to 150 announced for the year. The mid-market remained relatively static year on year, with 83 deals compared to 82 in 2020, but large and mega deals made an impressive return – large deals were up by 50% year on year and there were five deals with a consideration greater than £1bn in 2021, whereas no deals of this size were announced in 2020.
Acquisitions were again the most popular deal type in the Midlands, with a total of 707 transactions worth £7.2bn, a 28% and 75% increase in volume and value respectively. A relatively new deal trend in the region saw employee buy-out groups complete 12 acquisitions over the year for a total value of £31m – up from just three announced in 2020. The Midlands was the UK’s busiest region for deal making outside of London and the South East, with an involvement in 14.7% of all UK deals.
The final quarter of 2021 brought an additional two transactions to the top ten list. First, Triton’s £1.3bn buy-out of Burton on Trent-based pharmaceuticals group Clinigen – an improved offer after Triton’s original £1.2bn bid was sweetened to win the support of initially reticent shareholders. Then, European asset management group Aurelius completed the acquisition of Coventry firm McKesson UK from US healthcare company McKesson Corp, for an enterprise value of £477m – Aurelius’ biggest ever acquisition.
The largest transaction in the region by a long way remains US motion and control technologies business Parker Hannifin’s £6.3bn acquisition of Meggitt, the Midlands engineering firm that designs and manufactures systems and components for the aerospace, defence and electronics markets. The mega deal is due to complete sometime in Q3 2022.
Elsewhere, the region’s largest ever IPO was completed in January, when iconic boots brand Dr Martens commenced trading on the Main Market of the London Stock Exchange, raising £1.3bn for private equity owner Permira, which sold down part of its stake.
Deal volume was up year on year across the majority of sectors in the region. Manufacturing is traditionally the most active industry in the Midlands M&A market and remained at the top of the list in 2021 with a total of 302 transactions, up by 30% from the 231 announced in 2020.
Wholesale and retail was the region’s second most active industry with 245 deals, up 27% year on year. Elsewhere, despite being less active than the likes of manufacturing or wholesale, the real estate sector is usually quite prominent in the Midlands’ M&A market. However, only 40 qualifying transactions were recorded in 2021, down from 56 during 2020, perhaps suggesting that the rate of recovery in the real estate segment is lagging behind other sectors as many organisations look to embrace flexible working and alternatives to the traditional office environment.
There was a definite shift in the Midlands deal landscape in 2021, with a move away from the fundraisings that characterised 2020 back towards more acquisitive transactions. The number of early stage investments was down by over 26% on a year on year basis, but this was set against a 75% increase in outright investor buy-outs and an 11% rise in the number of management buy-outs.
The region’s most active capital provider was the Business Growth Fund (BGF), with 16 transactions in 2021 – up from 12 deals the previous year. Bank debt as a source of funds also saw an increase, up by 7% in volume; Maven Capital Partners was the most active source of acquisition finance in the region, with 14 deals, followed by high street bank HSBC, which supported a total of 11 transactions.
Grant Thornton was top of the Midlands financial advisers ranking with a total of 60 transactions, followed by K3 Capital with 55 and RSM assisting on 48 deals. The
value table was headed by Citigroup, with Rothschild second and Morgan Stanley third. The top-ranking legal advisor for the Midlands was Gateley with a total of 73 transactions, retaining the top spot they enjoyed in 2020. Second place also remained the same with Harrison Clark Rickerbys advising on 49 transactions in 2021, while Higgs was third with 45 assists. In terms of value, Freshfields Bruckhaus Deringer was the highest-ranking advisor with £7.7bn worth of transactions, followed by Slaughter and May and Weil Gotshal & Manges.
New ‘digital high streets’ programme to boost local shopping in Long Eaton and Ilkeston
A new programme to attract shoppers back to the High Street by harnessing digital technology has been launched in Long Eaton and Ilkeston.
Run in collaboration between Erewash Borough Council and social media specialists, Maybe* Tech – the partnership will kick-off with a digital health audit of businesses in Long Eaton and Ilkeston, to understand the digital skills gap in the region. One of the objectives of the programme is to help to bridge the gap between businesses, while engaging local consumers and encouraging them to shop locally.
Maybe* has compiled a free online guide aimed at helping businesses in the area use social media more effectively, showing local companies how to create successful social media campaigns which engage with more customers and increase sales. The guide will also draw upon the social media success of three businesses in the area, Harper & Finch Tea Rooms & Gift Shop and HB Brows & Cosmetics in Ilkeston and Opulence Bridals in Long Eaton – all of who have been recognised by Maybe* for excelling at social media.
Data within Maybe* technology shows that in the council area around 1,400 businesses use social media, all of these companies will feature on the programme. Of those businesses on social media, around 385 (or 27 per cent) are active, posting most days. Additional research conducted by Maybe* Tech suggests around 66% of consumers spend three hours per day using social media.
Councillor Bryn Lewis, Lead Member for Town Centres at Erewash Borough Council, says: “We are delighted to be involved in this initiative which will give our high streets a boost across 2022 and beyond. It has been a difficult time for local traders and this will be a fantastic opportunity for businesses to utilise this digital platform to compete with some of the larger retailers.
“The project includes a digital ‘health’ audit of businesses in Long Eaton and Ilkeston, to understand the digital skills gap. Maybe* will help to bridge that gap.”
Polly Barnfield OBE, CEO of Maybe* Tech, said: “Initially, our partnership with Erewash Borough Council will focus on gaining an understanding of how businesses are using social media and their level of digital skills. We are committed to supporting businesses that get involved in the programme and will help them gain a better understanding of how digital can benefit them, while providing practical tips on how to use social media to drive sales and reach new customers.
“High streets need infrastructure that until now has only been available for online businesses and this programme will help local businesses level the playing field,” adds Barnfield.
“They need to communicate with shoppers in real-time and be able to showcase what’s available. In order to compete, High Street businesses need to up their digital game, promote their physical stores and collaborate. Our platforms help them collectively to do that and we are looking forward to working with businesses across every high street in Ilkeston and Long Eaton.”
The Maybe* platform has been developed to provide High Street businesses across all sectors, with access to social media, the tools and training to increase their customer base and drive sales. The Maybe* platform also provides practical suggestions and easy to use tools allowing organisations to connect with their audience, improve their return on investment and understand how to stay ahead of their competition.
