Financial management group surpasses £600m mark
Nottingham-headquartered wealth management and financial advice firm, The RU Group, has announced a record total in assets under management. As of the end of September 2021, the Group now manages over £600m of investments and private wealth on behalf of its clients.
The growth is due to a combination of factors. New client acquisition has played a significant part, while existing clients have increased their investments. In addition, the Group has made some key strategic partnerships to expand the range of Environmental, Social and Governance (ESG) investment it can offer.
Ian Browne, head of advice at The RU Group, said: “This is record level of assets under management and a huge milestone for our business. We strive to ensure we are giving the very best advice to our clients and we continually seek feedback on what they are looking for from their investments.
“We understand clients are increasingly looking for socially conscious or sustainable investing options within wealth management and financial advice. These investment strategies aim to combine financial return with positive social value, that’s why we have this year partnered with EBI Portfolios and Invesco to expand the ESG options we can offer to meet client demand.”
In June, the RU Group partnered with EBI Portfolios to offer Earth Portfolios, where every £1 million invested translates to a reduction in greenhouse gas emissions equivalent to charging 12.7 million smartphones.
Further expanding its ESG offer, in September this year the RU Group also entered a partnership with Invesco, one of the largest and trusted global investment managers. The range of ESG solutions include active and passive, equities, fixed income, real estate, multi-asset, thematic and custom strategies.
Ian Browne adds: “Over the last 18 months, we have undergone a restructure to bring all our existing divisions into a single brand identity, sharing values across one unified business. These results are a testament to our team and the ongoing investment in continued professional development as part of our culture of learning and development. We look forward to building on recent success for many years to come.”
Award-winning PKF Smith Cooper continue to expand team with a number of new appointments
Midlands-based tax, accountancy, and business advisory firm, PKF Smith Cooper, have been enjoying a successful year, building up many of their service lines – with their tax team notably bolstered by 6 appointments in recent months.
This success is reflected in the firm’s September announcement, where they revealed that they had joined the global family of PKF International, placing them firmly at the forefront of the compliance and regulatory world, whilst enhancing their appeal as an employer to potential candidates.
The new team members are spread across the firm’s four core offices – situated in Derby, Nottingham, Birmingham, and Ashbourne – and include a mix of talented graduates brimming with enthusiasm, as well as skilled specialists who have accumulated a wealth of experience to benefit a more senior position.
At the firm’s Nottingham office, Megan Whiley and Adam Fox have joined the tax team in the positions of Tax Assistant and Assistant Indirect Tax Advisor, respectively.
Megan – a passionate Panthers fan – has stated that she’s “most looking forward to learning about different businesses and their unique tax queries” during her tenure at PKF Smith Cooper. Adam, meanwhile, a recent Accounting and Finance graduate from the University of Chester and a competitive swimmer, is excited “to meet new colleagues and embark on a professional career”.
The Birmingham office welcomed violin and Lego aficionado, Matthew Taylor – who is excited to “meet new colleagues and help to positively impact clients” – as a Tax Assistant, while Ashbourne has done the same for running-enthusiast, Rachel Leigh, who can’t wait to “learn and gain experience in a completely new field”.
PKF Smith Cooper’s tax team have frequently been the subject of praise in the past due to their personable, client-centred approach, volume of knowledge, and ability to tailor advice and solutions to benefit individual clients. These new recruits – possessing a range of skills, talents, and pursuits – demonstrate the potential needed to further expand the reach and capability of the tax team across all offices.
Badminton-lover, Simran Chohan, who has joined the firm’s Derby office as a Tax Assistant, states that she’s “looking forward to putting the tax theory learned at University into practice”.
Vanessa Johnson, the Derby tax team’s new Tax Senior, echoes the sentiments outlined above: “I’m looking forward to getting back into the world of tax, getting to know my new colleagues and clients across the firm, and working together to provide an efficient, professional corporate tax service.”
With such keen, skilled recruits across the company’s core offices, PKF Smith Cooper are poised on the cusp of further success and notability, whilst nurturing the careers of talented individuals within their teams.
Festive donation from Derby IT business to support local community
IT company Neuways is teaming up with the Derby Food 4 Thought Alliance to provide the charity with a range of supplies for the local community ahead of the festive season.
The food bank charity, based in the heart of Derby City Centre, at the Morledge, will ensure that the donation from Neuways is dispersed throughout the community to those that need it the most over the winter months.
The contributions given by Neuways staff and directors, range from essential hygiene products to children’s toys, as well as warm winter clothing and advent calendars. Derby Food 4 Thought Alliance’s Coordinator, Paul Brookhouse, said: “Derby Food 4 Thought Alliance was established during the COVID-19 pandemic, bringing together food banks and other key food-based projects to offer unified support to ensure no one went hungry.
“Most importantly, this put the focus on supporting people holistically while addressing the root cause of their needs that have led to deprivation and food insecurity – no matter where they live in the city of Derby and no matter what their circumstances.
“As well as food, we recognise the need for other household items including cleaning and hygiene products, warm clothing in winter and, as we approach Christmas, toys, advent calendars – and of course chocolate!
“Without the generous and vital contributions of the general public and businesses like Neuways, it would be impossible to meet the needs of those in the city and we massively appreciate the support offered.”
Derby Food 4 Thought Alliance supports people in Derby experiencing food poverty. They provide food provision and signposting, as well as education and advice to those in need, with the pandemic affecting many throughout the city of Derby.
Head of Business Support and Accounts at Neuways, Julia Carty, said: “Many of us are feeling the effects of the COVID-19 pandemic, and at Neuways we wanted to make the hardest time of the year for some, a little easier, so we have chosen to support a local charity that do so much within Derby for those who really need it.
“The work that the Derby Food 4 Thought Alliance do in supporting domestic abuse victims and children at a time when they need it the most is something we want to wholeheartedly support as much as we possibly can.
“The hard work and efforts of the Derby Food 4 Thought Alliance in putting a smile back on the face of the those in need is incredible – as well as ensuring that people have access to basic hygiene essentials and food in their hour of need.
“We are very proud of all of the staff at Neuways for digging deep and helping to deliver our donation to the Derby Food 4 Thought Alliance, which will ultimately help a lot of people.
“It is hoped this donation can help improve the current situations of people experiencing hardships across Derby.”
Green entrepreneurs bid success for carbon cutting projects
Two new carbon-cutting projects have become the first to get funding from Derbyshire County Council’s Green Entrepreneurs Fund as part of a countywide drive to help tackle climate change.
The council launched the £2 million fund in partnership with the University of Derby in March to support green economic recovery across Derbyshire by offering financial assistance to businesses and organisations interested in developing and investing in green energy and carbon reduction schemes.
Now grants of £20,000 have been awarded to the following initiatives to help get them off the ground:
- Longcliffe Quarries – to install new inverter equipment at their Brassington site which will significantly reduce their energy consumption and is expected to cut their carbon emissions – by 40,000kg of carbon dioxide emissions and equivalent gases each year
- Hayfield Sustainable Transport – to develop software to help businesses in the area organise themselves into transport groups and operate Micro Car Clubs, on-demand shuttles, and shared e-cargo bikes
Planning consent approved for £10m industrial and warehousing development in Brackley
Industrial developer Chancerygate has secured planning permission to build 55,000 sq ft of Grade A industrial and warehousing space at Boundary Road Industrial Estate in Brackley, South Northants.
Called Boundary43, the development will comprise 14 Grade A units ranging from 2,050 sq ft to 19,125 sq ft. The scheme has a projected gross development value of £10m.
Chancerygate purchased the vacant two-and-a-half-acre site in February 2021, and construction on the development is set to commence in early 2022. Practical completion at Boundary43 is expected in late 2022.
George Dickens, development director at Chancerygate, said: “We’re very pleased to have secured planning consent to develop this vacant site in part of one of the town’s most prominent industrial estates.
“Boundary43 will see us provide the region with much-needed Grade A industrial and warehousing space and are already in discussions with a number of occupiers.”
Joint agents for the development are Brown & Co and White Commercial.
46 made redundant as administrators appointed to Derbyshire construction firm
Howard Smith and Chris Pole from Interpath Advisory have been appointed joint administrators to Wildgoose Construction Limited.
Founded in Matlock, Derbyshire in 1896 and now based in Alfreton, the fourth-generation family-owned business is an award-winning building contractor, delivering large-scale projects for clients across a wide range of sectors including housing, education, health, commercial and social care.
Recent significant projects included Northampton Museum & Art Gallery, Brackley Medical Centre and Community Hospital, and the Matlock Spa Development.
The company had recently experienced significant margin pressure as a result of rising raw material prices, supply chain disruption and labour shortages, which resulted in many of its fixed-price contracts becoming loss-making.
The adverse impact of these loss-making contracts on the financial position of the company was further exacerbated by significant one-off costs, including the insolvency of a number of subcontractors and bad debts arising following the insolvency of a key client.
Following a detailed review of the financial position of the company and its trading projections in light of the challenges being faced, the directors took the decision to place the company into administration.
All work on live projects ceased prior to the appointment of the joint administrators, with clients being notified in advance to enable an orderly wind down and to give them appropriate notice to source alternative contractors.
46 members of staff have been made redundant, with a small number retained to assist the joint administrators with the wind-down of the business.
Howard Smith, Managing Director at Interpath Advisory and joint administrator, said: “These are extremely difficult times for companies across the construction sector, with recent surges in the price of raw materials, coupled with supply chain disruption, acute labour shortages and wage inflation putting businesses under significant pressure.
“Unfortunately for Wildgoose Construction, these issues ultimately resulted in a number of its fixed-cost contracts becoming unsustainably loss-making, and when combined with the other unexpected significant one-off costs and liabilities which had arisen, the directors had no alternatives other than to place the company into administration.
“Our immediate priority is to assist those members of staff who have been made redundant, providing them with the information and support they need to claim their statutory entitlements from the Redundancy Payments Office.”
Jonathan Wildgoose, chairman of Wildgoose Construction, said: “In light of the multiple challenges being faced by the business, our efforts since the commencement of the pandemic have focused on exploring all possible options in an effort to secure a solution which would have safeguarded the future viability of the business.
“It is with great sadness that we had no alternative but to cease to trade and take the necessary steps to place the company into administration. On behalf of all of the directors, I would like to place on record our thanks for the huge efforts of our employee base and all other stakeholders.”
Travis Perkins acquires stair, floor and door solutions company
Travis Perkins, the Northampton-based supplier of building materials and equipment, has fully acquired Staircraft; a company that provides integrated stair, floor and door solutions.
This development expands Travis Perkins’ customer proposition by adding digital component design, timber engineering and production capability to its portfolio.
Travis Perkins first acquired a minority share (15%) in Staircraft in 2015, and announced its intention to fully acquire the remaining share (85%) of the company at an investors update on 29 September.
“We have enjoyed a close working relationship with Staircraft for the past six years and believe this partnership has many more opportunities for further growth potential for both parties,” explained group COO, Frank Elkins.
“Staircraft is a very exciting business; technology-led and well known for innovation and quality, and for delivering engineering solutions that are developed offsite in factory based conditions.
“This means that their offering plays right into our future strategy of elevating our customer relationships by providing new areas of value-added products and services that deliver efficiency, quality, sustainability and innovation in design, engineering and production,” Frank continued.
“For us, being part of Travis Perkins plc will give us access to new markets, investment and growth opportunities. We also know that our businesses are a great match from a cultural and values driven perspective, and that this partnership will give our colleagues access to new and improved benefits and career and development prospects over time,” said Managing Director of Staircraft, Andy Hamilton, who will remain in post with his leadership team under the new ownership.
Staircraft dates back to 1986 and has 350 employees. The company is headquartered in Coventry and operates from three manufacturing sites across the UK.
Nottingham business in running for national Architectural Practice of the Year title
An architectural design firm based in Nottingham has been chosen as a finalist in the Architectural Practice of the Year category at this year’s National Building and Construction Awards.
The Practical Planning Company was launched in 2019 by Benjamin and Jodie Heginbotham in a bid to provide homeowners with the whole design and planning package for all home improvement projects, from extensions to new builds.
The firm’s shortlisting in the national awards programme comes after two years of helping more than 200 homeowners with their home improvement projects – work which has already earned the team recognition in other awards including The Small Awards and the National Business Women’s Awards.
“Being named a finalist in the National Building and Construction Awards has been a dream of ours since we started our business,” says Jodie. “We’ve worked so hard to offer a service which makes homeowners feel safe and secure when designing and building their dream home and we’re so thankful that this has been recognised. To win the award for ‘Architectural Practice of the Year’ would be the perfect reward for all our efforts.”
As part of the submission, Benjamin and Jodie had to highlight a project which has given them the most satisfaction in terms of creativity, client satisfaction and both personal and professional development. They chose to focus on a chapel extension recently completed in Thurlaston, Leicestershire.
“This project is a favourite of ours for many reasons,” explains Benjamin. “We were tasked with designing an extension that not only provided the chapel’s congregation with a functional space, but also enhanced the area and showcased the original property, its history and character – including that of the graveyard!
“The main feature of the design was the addition of a glass gable end and large glass panels to frame the outdoor space, highlighting the graveyard and creating a better connection between the Chapel and its outside space.
“It’s a project we’re incredibly proud of and to be able to include it as part of our entry was a real honour.”
The National Building and Construction Awards celebrate the achievements of industrious, hardworking and enterprising building and construction businesses. Judged by a national panel of judges, the winners of all categories will be announced at a black-tie ceremony in London on 18 November 2021.
Construction begins on 18-unit Rutland industrial development
Tungsten Properties, the mid-box industrial and warehouse developers, has started construction of its 18-unit industrial and trade counter site in Oakham, Rutland, Leicestershire.
The 3.79-acre (1.53-hectare) site at Panniers Way in Oakham to the east of Leicester was granted planning consent in May by Rutland County Council.
Tungsten Properties will provide 18 high specification industrial and trade counter units between 1,000 sq ft and 9,000 sq ft and include a small amount of retail and fast food uses.
The site sits within a wider masterplan of development to include new residential development and commercial uses including BP/M&S Petrol Filling Station, Aldi Supermarket, McDonald’s restaurant, and a Marstons’ pub.
Construction has been celebrated with a ground breaking ceremony with representatives of Wilten Construction, Tungsten Properties and Phillips Sutton.
The new units are due to be available from early Spring 2022.
Jenny Clarke, associate development director, Tungsten Properties, said: “Oakham has a strong market with high demand, so we’re excited to get started to build these new high spec units for local and national businesses.
“Already, more than 60% of units are under offer to companies to let them, showing the strength of demand out there from businesses. We look forward to announcing the news as soon as we can.”
Reid Commercial Property and Phillips Sutton are joint letting agents. Wilten Construction is the appointed contractor.
New town centre community hub set for Mansfield
Mansfield District Council has started working towards establishing a town centre community hub.
The scheme – Mansfield Connect – would be an ambitious, new, multi-occupancy premises housing a variety of public services along with spaces for private sector occupiers, too, such as food and drink outlets.
The project, which is being led by the council, will form a central part of its bid to round two of the government’s Levelling Up Fund (LUF).
The Department for Work and Pensions, Nottinghamshire County Council, West Nottinghamshire College, Nottingham Trent University, health partners, and volunteering co-ordinator the CVS have been invited to be involved in the hub.
The scheme would see the council relocating from the Civic Centre to a site in the town centre and the Civic Centre being redeveloped.
As well as improving the delivery of public services by providing a range of agencies accessible in one core area, it is envisaged that the new hub would generate extra footfall in the town centre which would benefit existing retailers and help drive regeneration by boosting investor confidence.
The scheme would also align with the aims of the council’s emerging Town Centre Masterplan and broader council strategies in relation to its Growth objectives alongside priorities for Aspiration, Wellbeing and Place.
Cllr Stuart Richardson, Portfolio Holder for Regeneration and Growth, said: “Moving the council to the town centre and joining forces with other authorities and public sector agencies makes a lot of sense for a variety of reasons.
“Bringing services together will make them more joined up, accessible and work better for the public. And it will enable our customers to kill two birds with one stone, so as well as conducting any business they may have in the Hub, being in the town centre means they may stay a while, too, and perhaps visit the bank, or do some shopping, or meet friends for lunch, for instance. This increase in town centre footfall would be a win-win all round.”
A recent report on the scheme to the Mansfield Place Board detailed the aims of the LUF, which focuses on capital investment in local infrastructure and investment in regeneration and growth in places of low productivity and connectivity. Bids can be for up to £20m.
The first round of bids to the Fund closed in June and the council chose not to enter that bidding round due to its tight time frames and other work being done on bids to the government’s Towns Fund and Community Renewal Fund.
Instead, it is planning to submit a proposal for round two of the funding bids to the LUF. Further information has been requested by the council from government about the deadlines for the next round and it is awaiting clarification.
Bids must focus on how they deliver transport improvements, cultural investment and town centre regeneration, such as upgrading eyesore buildings and dated infrastructure, and repurposing brownfield sites.
They have to demonstrate how the investment could be used to reduce crime and bring public services and safe community spaces into town and city centres.
The LUF is designed to target places with the most significant need and Mansfield has been ranked at level one out of three, putting it among those areas with the highest need.
As such it has qualified for £125,000 in funding to help it draw up its bid to improve its chances of success in the bidding process. Among the aspects that a bid to the LUF has to demonstrate is value for money and an ability to deliver its schemes within a specific time frame.
The council has engaged the services of project management specialists ARC Partnership to support the development of the project feasibility, costings and design options.
They will be working closely with consultants Allies & Morrison who are working with the council on the emerging Town Centre Masterplan.
In the meantime, the council has set up a Steering Group to guide development of Mansfield Connect and in securing commitment from partners for their operational requirements within the new hub. This information will be used to help build the case for the LUF bid.
Nottinghamshire County Council has shown support for the idea of a new civic hub in Mansfield with the plan aligning with the county council’s wider aim of reducing its carbon footprint. With more staff working from home and hybrid working, it is reducing its offices from 17 to nine.
Chairman of its Economic Development and Asset Management Committee, Cllr Keith Girling, said: “We are looking into potential plans to move some council services in Mansfield into a potential public services hub, planned by Mansfield District Council as it looks to move into the town centre.
“It is early days, but this approach makes sense as we look to share resources and make council building more multi-functional and include things like conference facilities and, potentially, libraries.”
