HBD has submitted detailed planning for its 426,000 sq ft New Horizon industrial scheme following a £53.8m forward funding deal with Oxenwood Real Estate, announced in September.
New Horizon is a landmark 28-acre site, part of the former Imperial Tobacco plant. The redevelopment will see the delivery of seven new industrial buildings up to 145,000 sq ft, all of which will be developed on a speculative basis.
The development secured outline planning consent in 2019. Now, detailed plans have been submitted to Nottingham City Council for permission for go-ahead at the site.
HBD is aiming to start on site early next year, with completion expected in Q1 2023 following the earlier demolition of the Imperial Tobacco factory.
The developer has repurposed or recycled more than 90% of the original structure throughout the redevelopment of the brownfield site. The team has used various techniques to reduce the scheme’s environmental impact, such as the crushing and reuse of concrete from the old building.
Justin Sheldon, director and head of region at HBD, said: “This is a major scheme for Nottingham – it will not only bring a disused brownfield site back into use, but could create up to 1,000 new jobs.
“New Horizon is a very well-located scheme and the new units will help to meet established demand for industrial stock in the Midlands, which remains in very short supply.”
Lorraine Baggs, head of inward investment at Invest in Nottingham, said: “Developments like New Horizon play a vital role in ensuring that Nottingham has the right space to attract businesses into the city, while also regenerating and restoring life to our old industrial sites and creating much-needed new jobs. This is a fantastic scheme and we look forward to seeing it take shape early next year.”
Equity investment firm Foresight Group and other minority investors, have successfully exited Castle Donington-based Selazar, a logistics management software platform, after the firm sealed a multi-million pound investment from an unnamed investor.
Based in Castle Donington, Belfast and London, Selazar is an end-to-end eCommerce fulfilment platform which aims to simplify and reduce the costs of fulfilling ecommerce sales orders for retailers and logistics providers.
Selazar connects the four major components of ecommerce order fulfilment: product suppliers, fulfilment centres, couriers and retailers. Retailers are able to readily view and manage their stock, sales orders and returns through a single, unified platform.
Foresight has taken a proactive approach alongside the management team to strengthen the business. Since the investment round in November 2019 led by Foresight, Selazar has fully launched its proprietary software platform and opened a base in Castle Donington, Leicestershire, strategically positioned in an area with a strong logistics presence.
This also gave the company access to the large SME retailer market and its fulfilment partners, which has supported material growth in the company’s customer base. To meet this demand, Selazar has grown its team, with 30 jobs created.
Selazar’s new investment partner will provide £20m of further growth capital to support expansion across Europe, the US and Latin America with total headcount projected to quadruple over the next year.
The sale represents a return of 3.4x to Foresight with an IRR of 135% after less than two years and the first successful exit for the Foresight Midlands Engine Investment Fund. This is also the seventh exit completed by Foresight’s Private Equity team in the last 12 months.
Jack Williams, CEO of Selazar, said: “Foresight’s support over the last two years has been invaluable in helping us establish our business, launch our innovative platform to market and deliver those initial, critical phases of growth. Through the support of Foresight and other investors, we have been able to attract our new investment partner, which will help us achieve our next phase of global growth.”
Adam Huckerby, senior investment manager at Foresight, added: “It has been a pleasure to work with Jack and the whole Selazar team over the last two years. This is an excellent example of how emerging businesses can benefit from regional funding initiatives such as the Midlands Engine Investment Fund to support their growth plans and as a bridge to a larger investor. We wish the team all the best in the next chapter of their exciting journey.”
Kevin Harris, chair of the LLEP Board of Directors, said: “It’s great news to see a Leicestershire business receive investment through the Midlands Engine Investment Fund and move to the next stage of growth. This success story has also created 30 local jobs in LLEP priority sectors of tech and advanced logistics, with more to come as the business continues to grow.
“The Midland Engine Investment Fund was set up to support businesses to grow and create jobs across the region and I am delighted to see another Leicestershire business benefit from the fund. I wish Salazar every success for the future.”
Foresight and the other shareholders were advised by Browne Jacobson, Tughans and PwC.
Output volumes among manufacturing SMEs saw slower growth in the three months to October, while fears that labour and materials shortages could impact future production hit an all-time high.
The CBI’s latest SME Trends Survey – completed by 249 companies – shows that growth slowed over the past three months, following July’s record rise in output. However, growth remains solid in comparison to the long-run average, and is also expected to pick up again in the coming quarter.
Total new orders growth also remained firm despite easing on last quarter’s record-high rate, reflecting an easing in both domestic and export orders growth. SME manufacturers expect total new orders growth to be maintained at a similar pace next quarter.
The three months to October saw further strong growth in firms’ headcounts, despite the rate slowing slightly from July’s record high – with expectations for headcount growth to accelerate again in the coming quarter.
However, almost two-thirds of SME manufacturers reported concerns that supply of materials/components could impact output in the next three months – the highest share on record (since 1988).
Concerns over the availability of skilled labour (46%) and other labour (25%) were also higher than at any other time in the survey data’s 33-year history.
Firms reported that growth in average unit costs, domestic prices, and export prices in the three months to October sped up to their quickest on record, and growth in all three is expected to accelerate further next quarter.
Elsewhere, business sentiment was broadly flat after having grown rapidly in the past two quarters. Investment intentions for the year ahead softened somewhat on the previous quarter, but generally remained strong.
Alpesh Paleja, CBI Lead Economist, said: “The optimism of summer has given way to an uncertain autumn for SMEs in the manufacturing sector, as firms struggle with persistent supply challenges and acute cost and price pressures.
“It has been encouraging to see Government recognise the issues facing businesses and begin to take action to address supply chain issues and skills shortages. Creation of the new supply chain taskforce is a welcome step, and crucially utilises expertise in understanding and addressing these challenges.
“Business and Government working together is the best way to restore momentum to the UK recovery, and move towards building the high-wage, high-skill, high-investment, high-productivity economy that we all want to see.”
Small businesses are keen to reduce carbon emissions, become more sustainable and achieve net zero status, but will require support and smart policies to help them along the way, according to a new FSB report.
The study, Accelerating Progress: Empowering small businesses on the journey to net zero, has been launched to coincide with COP26, as well as FSB’s Small Business Net Zero Conference, and pulls together findings from a 1,200-strong small business survey.
A clear majority (56%) believe that the planet is facing a climate crisis – but only a third (36%) have a formal plan in place to combat climate change within their business.
Many have, however, taken meaningful steps towards becoming more sustainable, with two thirds (67%) addressing energy usage, and nearly a fifth (18%) investing in microgeneration.
Amongst those who have not yet taken action to reduce energy usage, a significant proportion cite uncertainty around return on investment (24%) and a lack of sufficient capital to invest in assets such as heat pumps and solar panels (22%).
Where waste is concerned, two thirds (64%) of small firms have increased recycling and half (50%) have taken steps to eliminate waste wherever possible.
With regards to the move to zero emissions vehicles (ZEVs), close to half (46%) of those surveyed cite the extra expense of ZEVs as a barrier to change, and a third (35%) say poor provision of charging points is holding them back – one in six (16%) cite the lack of an established second-hand market for ZEVs.
Over half (54%) of small businesses say that grants or low-interest loans would be a strong incentive to become more energy-efficient, while three in ten (28%) say a discount on business rates would encourage them to do so.
In light of the findings, FSB is urging the Government to:
Launch a Help to Green initiative, modelled on Help to Grow, encompassing £5,000 vouchers that businesses could spend on environmental products and services. Vouchers could be used to fund an audit of a firm’s carbon footprint coupled with advice on how to reduce greenhouse gas emissions, or enable firms to replace equipment and materials to become more energy-efficient.
Introduce a scrappage scheme through which diesel commercial vehicles could be recycled in exchange for grants that could be put towards cleaner hybrids and ZEVs – providing businesses with £2,000 for each qualifying disposal.
Work with Ofgem to establish a taskforce of suppliers, small business landlords and business groups to agree how to cut energy use in rented premises. The taskforce could learn from examples where landlords and tenants have cooperated to green their premises, and consider further interventions to allow small businesses to take ownership of their own energy use.
Lower the capital requirements banks must adhere to when lending to businesses for green improvements. Current capital requirements act as a brake on banks releasing funds in the form of loans to small businesses looking to invest in green technologies and improvements.
Set out target-based infrastructure strategies to deliver necessary ZEV charging infrastructure by 2030. As things stand, the number of ZEVs being purchased is outstripping the number of charging and rapid charging points on motorways and highways across the UK.
FSB development manager, Natalie Gasson-McKinley, said: “Adopting sustainable practices on the journey to net zero is everyone’s duty. Small businesses are keen to play their part, but often don’t have the resources, deep pockets and dedicated specialists enjoyed by their larger counterparts, so can find identifying and taking the necessary steps a challenge.
“However we know from our survey that East Midlands small businesses are more likely to say they have taken steps towards net zero emissions, in comparison to small businesses in other areas of the UK. Small businesses within the East Midlands are now asking for more support from Local Enterprise Partnerships to help them do even more.
“With world leaders converging on Glasgow for COP, we need much more than a talking shop to ensure that more businesses in the region have the confidence to take steps towards net zero. This moment must be a catalyst, for governments to remove the barriers that are holding small businesses back. If we are to successfully transition to net zero, it’ll be through grassroots action, enabled by smart and supportive policies.
“Whilst the Chancellor rightly embraced some of our proposed changes in this area at the Budget, it was disappointing to see that the Government’s recent net zero strategy contained only four specific mentions of small business.
“We now need to see the changes announced last week brought in as swiftly as possible, so that small firms can install solar panels and heat pumps without fear of higher business rates bills.
“With inflation surging, cost is proving a significant barrier to the green investment we need. Small businesses require certainty and long-term support – they need to know for sure that their sustainable investments will be worth it in the long run.
“Equally, we have to avoid scenarios where landlords are barriers to progress – too often we hear from members who say they are ambitious when it comes to net zero, but the owner of their premises is less so.
“The challenge we face calls for practical action plans that can be implemented immediately, and we hope to see such plans emerge from this week’s conference.
“There’s no shortage of enthusiasm among small firms to reduce their impact on the environment, and the Government should take note – our report sets out a range of comprehensive recommendations which, if taken forward, will equip our 5.6 million small business owners with the tools they need to build a more sustainable future.”
Andrew Madge, Managing Director of Alfreton-based timber windows and doors manufacturer, Gowercroft Joinery, has been appointed Vice President and Honorary Treasurer of the British Woodworking Federation (BWF).
As the foremost trade association for the woodworking and joinery manufacturing industry in the UK, the BWF provides a positive voice for the sector, influencing government policy and regulations and championing standards.
The appointment of Andrew comes three years after he joined the Board as an executive member, where he has been instrumental in raising the profile of the woodworking sector as a whole and highlighting how it can support the construction industry through the Covid pandemic in a safe and sustainable way.
In his new role as Vice President, he will be working with the BWF Executive Board and President on the three areas identified in the President’s Campaign: supporting growth and future success of our sector; attracting the next generation of talent into our sector; and developing the talent within the profession, with the underlying thread of ensuring the BWF will continue to deliver value for its members as they meet the challenges of a post Brexit economy.
“I believe that the BWF has an increasingly important part to play in these uncertain economic times of skills and materials shortages and I very much look forward to helping shape the strategic direction of the woodworking industry, whilst building on the excellent work of those who have gone before me on the Board and its Executive team,” said Andrew.
Helen Hewitt, Chief Executive Officer for the BWF, said: “Andrew is always full of energy and passion for promoting the work of the trade association and has been a key driver in the direction of the association in the last couple of years. We are delighted to have Andrew as our Vice President, as this appointment adds further strength to the BWF Executive Board. We look forward to his active contribution in the future.”
A derelict pub in Whitwick is set to be transformed into much-needed affordable rented homes after being bought.
North West Leicestershire District Council (NWLDC) has bought The Oak on Talbot Street as part of work to increase the number of affordable homes across the district.
Time was called on the pub in 2013 when it became vacant, and since then it has sat empty. Outline planning permission to demolish the pub and build eight homes was granted by the council in May this year.
More detailed plans for the layout and design of the small development will follow in the new year.
Subject to a full planning application, work to build the homes should start in summer 2022.
Once complete, the homes will be available to rent via the Choice Based Lettings scheme; there are currently 1,200 people waiting for an affordable home in the district.
Transformation of the site will add to the council’s housing stock of 4,100 homes.
In addition to this scheme, an extra nine properties are also being bought from developer Peveril Homes as part of Section 106 commitments at The Coppice development in Ravenstone.
While an additional four homes, including a detached bungalow, are also being purchased from Chevin Homes as part of a section 106 agreement for homes on Worthington Drive, Newbold Coleorton.
Councillor Roger Bayliss, Portfolio Holder for Housing at NWLDC, said: “We are delighted to have bought The Oak’s site to provide much-needed affordable rented council homes for local people in housing need.
“The site has been a local eyesore for many years now and we look forward to improving its appearance in the short term, for the benefit of the local community before developing it next year.
“We’re committed to expanding the availability of affordable rented homes across the district and as well as building our own homes, are also working with developers through section 106 purchases on larger developments.”
Burton-based commercial property agents, Rushton Hickman Ltd, has let 2,145 sq ft (199.3 sq m) of prime ground floor office space to Acorn Training as part of their business expansion program.
Milton House, on Worthington Way, in Burton town centre, is prominently located and was formerly occupied by The Burton Mail for a number of years.
National training provider, Acorn Training, confirms this latest office launch adds to the company’s footprint across the Midlands, comprising offices in Coalville, Chesterfield, Hinckley, Daventry, Loughborough and headquarters in Stoke-on-Trent.
The office will serve as a hub of support for the community where the Acorn Training team will deliver their employability, skills, training and youth service work. Around 20 employees will be based from the office.
Gareth Saldanha-Fallows, Managing Director, said: “We are delighted to be expanding our footprint to Burton, bringing our strong core values and inclusive ethos to provide opportunity to individuals from all backgrounds.
“The expansion is an important step towards strengthening the delivery of our services across the Midlands and growing our success to help more people secure sustainable employment. The new office will serve as a welcoming and safe space to give the community access to information, advice and guidance for life and work.
“As the country recovers from the effects of the pandemic, Acorn Training will play a vital part in boosting the local economy in Burton and the surrounding area and continue to have a positive impact on the lives of the individuals and communities that we serve.”
Simon Walker (Rushton Hickman agent) said: “I carried out viewings with Gareth on several potential locations in the town centre. Given Acorn’s brief, it was evident the property on Worthington way (Milton House), was ideally placed to tick most, if not all the boxes on the search criteria requirements, particularly as it had operated as a Learn Direct Training Centre several years ago. This is an excellent opportunity and ideal location for Acorn Training to open their new Burton Office and we wish them every success in their new venture.”
Graham Bancroft, director at Rushton Hickman, added: “This is a fantastic letting and shows that despite the previous work from home rhetoric, there is now a real push from businesses to get people back into the office. The services offered by Acorn Training will also help train both young people and adults and we wish them all the best in their new surroundings.”
East Midlands-based venture, Connected Data, has secured private equity funding thanks to an investment round led by EMBA Investors Ltd (previously East Midlands Business Angels).
EMBA Investors Ltd is a network of UK and international business angels that has been investing in well managed innovative businesses and teams with strong growth potential for nearly 25 years.
Their decision to invest in Connected Data was driven by the company’s innovative and disruptive approach to debt management and its vision to transform the way debt is managed, enabling fairer, more positive outcomes for those in debt.
Tom Yardley, Managing Director of EMBA Investors Ltd, said: “Never has there been a more important time for organisations to focus on how they better address the growing levels of debt and ensure the fair treatment of those in debt. A more effective approach was sorely needed and the Connected Data model is answering that need.
“We were impressed by the experienced management team and their unique model, which promises a faster, easier, more connected approach than the market has seen before. Not only are they passionate that debt can be prevented and reduced across any organisation, they are already delivering results for major clients.
“The fact that they have also secured the support and partnership of ten of the UK’s leading data providers, demonstrates the strength and potential of their approach. We expect Connected Data’s approach will have a positive societal impact.”
Connected Data is currently working with customers in the water, energy, financial services and debt management sectors. This investment will enable Connected Data to grow its team and expand its portfolio into more sectors. It will also enable Connected Data to accelerate the further enhancement of its proprietary debt management data fabric.
Kirk Fletcher, CEO of Connected Data, says: “We are delighted and excited to have secured investment with EMBA Investors Ltd. They’ve been very effective to engage with and we believe they are the right investors for our business.
“They share our belief that debt prevention needs transforming and merits more focus across all organisations. This investment will be key to helping us accelerate our impact. We look forward to working closely with EMBA Investors Ltd and transforming the way debt is managed.”
Plans to redevelop a cluster of heritage buildings into a home for creative businesses in Leicester city centre have received a boost from the Government’s Levelling Up Fund.
The Government announced on Wednesday (27 Oct) that Leicester City Council’s bid for funding had been successful, with £8.6m allocated to the Pilot House regeneration project – that’s 75% of the total budget required for the scheme.
The news means that plans to refurbish the council-owned site on King Street into a hub for start-up and growing businesses can now go ahead, subject to planning permission.
Under the council’s proposals, Pilot House would be sensitively transformed to provide a central courtyard and atrium for shared use, a business zone for technical and digital businesses, and a co-working lounge.
Existing industrial features, including parquet flooring and exposed brick and beams, would be retained and a new entrance into the courtyard would be created from King Street.
The five separate but interconnected buildings on site would be transformed into 60,000 sq ft of high quality accommodation that would support around 250 new jobs.
City Mayor Peter Soulsby said: “This project will transform a group of architecturally significant heritage buildings into a landmark destination that will become a source of pride for Leicester.
“Not only will it contribute to the wider regeneration of the Belvoir Street, Market Street and New Walk areas, and complement exciting new developments like the Gresham Building, but it will also create and support hundreds of high quality new jobs.
“I want to congratulate council officers, whose hard work and successful bids have helped attract millions of pounds for Leicester from the Government’s Levelling Up Fund. This new investment will give a huge boost to the city’s growth and economic recovery.”
The Pilot House scheme would support training and skills development, including higher education programmes, meetings and events. It would be a permanent base for businesses of varying sizes, from graduate start-ups to established firms, and of varying types – including craft makers and design practices.
It would also provide the skilled roles that would encourage graduates from Leicester’s two universities to remain in the city when their studies are over.
Simon Bradbury, Pro Vice Chancellor, Dean, Faculty of Arts, Design and Humanities at De Montfort University, said: “De Montfort University is committed to working in partnership with the city to bring forward projects that provide opportunities for training and employment.
“We are delighted that Pilot House has been successful and will offer opportunities particularly for small and medium size businesses in the creative industries, including for our graduates. Working with the city we hope to bring partners in the Fashion and Heritage sector to Pilot House to support specialist training in these industries.”
Subject to planning permission, work could start on site in early 2023, with the building open for business from spring 2024.
The city council has committed £2.8m towards the £11.4m Pilot House project.
In total, Leicester City Council was successful in bidding for over £45.6million from the Government’s Levelling Up Fund. The money will fund three major projects that will support the city’s economic recovery and growth, and help create hundreds of new jobs.
Along with the £8.6m for Pilot House, the city council has been awarded £17.6m to transform the entrance to Leicester’s historic railway station, and £19.4m for three projects in and around Pioneer Park and Exploration Drive, complementing the University of Leicester’s Space Park development.
The Government’s Levelling Up Fund is designed to finance long-term, significant capital projects that create jobs, encourage new investment and enable businesses to grow.
A digitised version of a ‘passport’ that helps young people prepare for the world of employment will launch this month thanks to a £30,000 donation by The Nottingham.
The ThinkForward charity’s Ready for Work (R4W) Passport app allows post-16s to evidence work-readiness in areas such as preparing a CV, interview practice, opening a bank account, volunteering experience and demonstrating email and telephone skills.Young people who create an online R4W account can track their progress in those areas, as well as having access to the helpful careers support and resources available within The Nottingham’s Career Academy.The R4W Passport will be further developed next year to include more external careers content and resources, the functionality to upload a CV to the platform and a passport completion certificate that can be used in job applications and interviews.Lukas, 16, took part in a focus group that tested the app and provided feedback, and was impressed with what he experienced and the viability of the digital R4W Passport as a vehicle to employment.Hesaid: “The passport is easy to navigate and helps you have something to prepare you for higher education or your career, and to track your progress. It will help me prepare for the world of work because having an updated, good CV is really important too.”Some of the young people involved in ThinkForward projects in Nottingham – all of whom will have access to the R4W passport soon – joined Progression Coaches and The Nottingham’s Head of People and Development, Anne Leivers, at a VIP event to celebrate the passport.Held at the National Ice Centre, the home of the Nottingham Panthers ice hockey team, the group enjoyed a once-in-a-lifetime chance to watch the Panthers players train and took part in a careers-based Q&A session with Director of Hockey Gui Doucet and club support staff.Anne explained: “It was a really inspiring event and extremely valuable for the young people as it gave them a unique opportunity to ask questions and receive valuable, real-world, careers advice against the exciting and inspiring world of sport. “We also discussed the digital Ready for Work passport that our donation has helped bring to life and it was fantastic to hear such enthusiasm for it.“It’s been really well received and it’s great to hear that the young people who have helped to pilot it as well as those who will access it soon are excited about how it will aid their employment aims and ambitions, whatever career paths they ultimately decide to take.”ThinkForward’s Development Manager Aimee Pickering added: “We’re really excited about the app, which will empower young people to take ownership of their Ready for Work passports – enabling them to see and track their progress.“It will support young people as they prepare for the world of work and strengthen our digital capabilities as an organisation. Our partnership with The Nottingham is inspiring young people’s career goals. Events like the day at Panthers encourage young people to see how their skills can be applied to a range of work settings, such as through business roles within sport.”Later this month the R4W Passport will be rolled out to 325 participants across the country involved in ThinkForward’s FutureMe and MoveForward programmes, ahead of being available to more young people in 2022 and beyond. As well as facilitating the R4W Passport, The Nottingham’s £30,000 donation means 300 young people aged 13-18 taking part in ThinkForward’s five-year coaching programme in six secondary schools in Nottingham* can undertake R4W programme activities, including business mentoring and digital confidence sessions.
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