< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Bank of England raises interest rates to highest level in over 14 years The Bank of England started February by raising the base rate from 3.5% to 4%. Marking the 10th consecutive hike in interest rates, to their highest level in over 14 years, it comes as part of a continued approach to reduce inflation, but this is not without significant side-effects and further pressure for many small businesses. Those impacted most by the decision will be mortgage holders and businesses reliant on debt to keep afloat after three years of economic shocks, as noted by David Bharier, head of research at the British Chambers of Commerce (BCC). He added: “Our research shows that while inflation remains by far and away the top concern for businesses with 80% citing this in Q4 2022, concern about interest rates has risen sharply with 43% now citing this. With the Bank expecting inflation to slow to around 4% by the end of the year, further rate rises could now simply add to the risk of a deeper recession, outweighing the benefits. “The main driver of inflation for most firms is energy costs, but this requires a clear policy solution, with immediate relief for those most affected and longer-term structural changes to ensure this market failure does not occur again. Businesses will also need to see concrete action in the upcoming Budget to promote growth, including plans on infrastructure, tax, skills, and trade.” The rise comes as the Bank of England now expects a recession in the UK to be shorter and shallower than previously anticipated. Nottingham software company makes first acquisition of 2023 Nottingham software company Ideagen has expanded its solutions for food quality and safety with its first acquisition of 2023, welcoming supply chain mapping company Qadex into the Ideagen family. The solution – which brings together every aspect of food safety, from quality management to supply chain tracking and approval – will become Ideagen Qadex. Speaking about the acquisition CEO, Ben Dorks, said: “Ideagen support the safe hands and quiet voices that protect the world – and if there’s one thing the whole world needs to have confidence in, it’s the safety of our food supply chain. “We want to trust that the food we put on the table, to feed our families is safe to eat and has been handled with care at every step of its production – how its raw ingredients are farmed, how it’s stored, how it’s transported, how it’s processed. Qadex play an important role in that reassurance. “We are incredibly pleased and proud to be bringing them into the Ideagen family, their software supports over 16,000 food producers to evidence the integrity of their entire supply chain – from field to fork.” Ideagen has a strong pedigree in quality management software and auditable collaboration with a number of well-known consumer goods brands, such as Diageo and Greggs, already using their solutions to support their quality and safety. Infotec Limited sold to Journeo Plc for £8.7m Flint Bishop has advised the shareholder of IGL Ltd, the parent company of Leicestershire-based Infotec Limited, on the £8.7m sale to Journeo Plc, an AIM-listed information systems and transport technical services group also based in Leicestershire. IGL Ltd, and its subsidiaries trading as Infotec, is one of the few British-based companies that designs, manufactures, tests and distributes its own passenger information displays to the rail sector in both the UK and abroad. With more than 15,000 displays in operation and coverage of 80 per cent of the rail network, 2.19 million passenger journeys rely on Infotech’s products every day. Leading on the deal for Tim Court was partner and head of corporate and finance Martyn Brierley: “We are delighted to have advised Tim on this successful transaction. The process was technically detailed at times so we are pleased to have helped bring the transaction to a positive conclusion for both Tim and Journeo plc. With Tim’s ongoing role in the business, we wish both Tim, Infotec and Journeo, the very best for their future together.” Infotec founder Tim Court said: “Selling a business you’ve worked in and nurtured for near 30 years was always going to be emotional journey. Martyn, Mark and the team at Flint Bishop conducted the transaction with the utmost professionalism and skill. To me personally, they handled the deal with a deft touch which made the process bearable, their input is one I will always be grateful for. I couldn’t recommend and rate Martyn and his team at Flint Bishop more highly.” Ben Dorks © stock.adobe.com/ DoubletreeStudio 06-15.qxp_Layout 1 06/02/2023 12:37 Page 5FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Leicestershire SEO company raises £675,000 Hike SEO, a Leicestershire-based start- up, has raised £675,000 in an investment round led by DSW Ventures with co- investment from incumbent investor, Jenson Funding Partners. Hike’s DIY search engine optimisation (SEO) platform is designed to help small businesses improve their visibility on Google in a cost-efficient but highly effective way. The product tells the user what they need to know to build a bespoke SEO strategy – and then guides them through the execution of that strategy. Hike’s customers can optimise their online presence without the significant cost of engaging a specialist consultant. Hike’s software is also aimed at digital agencies, allowing them to deliver SEO services as an additional value-add service to their clients. The company was founded by CEO Andrew Allen and CTO Kieran Headley, who worked together as SEO experts before starting the business in February 2017. Since then Hike has grown rapidly, and now has over 1,000 customers and annual revenues of over £1 million. The funds will be used to further invest in developing the platform and to make key commercial and operational hires. Hike has also strengthened its board with the recruitment of two seasoned operators. Jim Hodgkins has joined the company as chair – Jim is the former Managing Director of ContentCal which was sold to Adobe at the end of 2021. The founders have also secured Deborah Jones, former finance director of MLS, a private equity-backed software business which exited to Capita, as CFO. Nottinghamshire outdoor clothing and equipment company secures £1.5m A Nottinghamshire-based outdoor clothing and equipment company has secured funding from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme. The £1.5m investment from the MEIF will help create 16 new roles, fund seasonal stock purchase, product development in footwear and e-bike lines and enable the UK to take over the bike frame painting function from China. Alpkit designs, manufactures and sells a range of specialist outdoor apparel, equipment and bicycles suitable for challenging environments and extreme activities at a significantly lower price point than large, high-end competitors. The company is also a certified B Corp, committed to the highest standards of social and environmental impact. The company’s registered charity, Alpkit Foundation, supports sustainability focused community projects. David Hanney, Alpkit CEO, said: “With a buoyant outdoor market and strong brand positioning we have built a business with £12m+ turnover that has great potential for further growth. “With challenging exchange markets and supply chain issues dominating trading conditions for many businesses in recent months, we are delighted to receive this MEIF funding, which gives us the ability to expand our employee base and seize the opportunities available to us.” Chris Bailey, investment manager at The FSE Group, said: “Apkit’s knowledgeable and experienced management team has established a strong revenue stream that is capable of further acceleration, thanks to a viable expansion strategy that includes increasing physical stores in the UK as well as their international online presence. “Alpkit’s growth momentum has remained resilient, despite wider economic factors impacting businesses currently, and we are happy to be supporting them on their growth journey.” © stock.adobe.com/ Stockfotos-MG Andrew Allen and Kieran Headley 06-15.qxp_Layout 1 06/02/2023 12:37 Page 6East Midlands furniture manufacturer wins its largest school fitout contract Mansfield-based Deanestor has been awarded its largest contract to date in the education sector – a £5m project for BAM to manufacture furniture and fit out the two high schools on the new Dunfermline Learning Campus. The Deanestor team will supply and install more than 42,000 items of loose and fitted furniture for St Columba’s RC High School and Woodmill High School – that are relocating to Dunfermline Learning Campus in Fife. William Tonkinson, Managing Director of Deanestor, said: “This is our largest school fitout contract to date and we are even more thrilled that it is local to our Scottish offices in Dunfermline. We are pleased to be playing our part in such a visionary and ambitious education scheme which will provide world class facilities for students, the local community, and businesses across the region.” Deanestor will manufacture a range of education furniture for the new high schools, including teaching walls, storage solutions, worktops, shelving, and kitchen units. Its team will fit out over 500 rooms across both schools and the shared facilities. The interior design theme is based around the principles of openness, connectivity, and inclusiveness. The fitted furniture and joinery from Deanestor will be finished in white and different tones of grey to reflect the history of Fife and its industrial heritage. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Rolls-Royce talks to Czech Republic over deployment of SMR nuclear technology Rolls-Royce SMR Chief Exec Tom Samson has led a delegation to the Czech Republic to discuss plans for deploying a fleet of small modular reactors there. Derby-based Rolls-Royce SMR has been working with leading Czech utility company CEZ on plans to deploy SMRs to provide long-term energy security, meet net zero targets and decarbonise both electricity networks and industry. The visit, building on an agreement signed between the two companies in 2020, looked at the routes to deploying Rolls-Royce SMRs – the UK’s sovereign nuclear technology – in the Czech Republic and at opportunities to build on expertise in the supply chain from both countries. Mr Samson said: “There is a significant opportunity to export our British technology to the Czech Republic and the wider region in support of their low- carbon energy aspirations. Rolls-Royce SMR has developed a factory-built power station that can provide clean, affordable electricity for generations to come. “The Czech Republic has a strong nuclear heritage and, by combining the skills and expertise from the two countries, we can find a route to bring this technology here by the early 2030s, in a way that brings huge benefits for all.” Engineering company reports record year One of Lincolnshire’s largest engineering companies has reported that 2022 was its best-ever year. GAME Engineering, which is based at Witham St Hughs, saw sales top £40 million in 2022. The company was founded in 1986 and employs 70 people across two divisions: material handling and process design and custodial. Of the record sales, £26 million was secured by the custodial division, with projects ranging from minor repairs to new build turnkey projects and major refurbishments. The custodial division was introduced in 1999 and works with His Majesty’s Prisons, police forces, secure hospitals and financial institutions. The success of the custodial division is mirrored by the performance of GAME Engineering’s material handling and process design team, which received its largest ever single order. The seven-figure project saw GAME designing and building a process plant for blending and packing grass seed. © stock.adobe.com/thomathzac23 © AHR Architects 06-15.qxp_Layout 1 06/02/2023 12:37 Page 7Upperton Pharma Solutions breaks ground on new Nottingham development and manufacturing facility Upperton Pharma Solutions, a UK contract development and manufacturing organisation (CDMO), has begun construction work for its new Development and GMP Manufacturing headquarters in Nottingham. Working in close collaboration with its principal Design and Build contractor, T- SQUARED, the team officially broke ground on the project on 3 January and work has now started in earnest to deliver the new, 50,000 square foot facility, which is expected to be fully operational by the end of 2023. The new site is situated at the recently opened Trent Gateway Business Park in Beeston (less than two miles from Upperton’s current headquarters) and will provide a significant expansion of the company’s capabilities in terms of capacity and scale of manufacture with the incorporation of ten new GMP manufacturing suites, Quality Control laboratories and dedicated Analytical and Formulation Development laboratories with pilot plant facilities. When fully operational it is expected to create in the region of 150 additional full- time jobs by the end of 2024. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS 300 jobs created in Silverstone factory expansion Lunaz Applied Technologies’ vast vehicle upcycling campus at Silverstone Park is now fully operational following a major expansion. The facility, the first of its kind in the world, now occupies a total of 200,000 sq ft according to Lunaz – nearly four times its original size when it opened in 2018. Some 300 jobs have been created as a result of the expansion, making Lunaz Applied Technologies (LAT) one of the largest companies within the Silverstone Technology Cluster by space and employees. The expansion means LAT can significantly increase production of its upcycled electric vehicles (UEVs), with capacity to now produce 1,100 of them per year. Lunaz founder David Lorenz said: “The expansion of the Lunaz Silverstone campus is a clear demonstration of our commitment to breaking the ‘replace-with-new’ cycle. “Lunaz now has the largest manufacturing footprint of any company within the Silverstone Technology Cluster. “From this state-of-the-art facility, we unlock the power of upcycling, providing UEVs that are cleaner, cheaper and better equipped than their all-new equivalents. “Our new and fully operational facilities, which gives us four times as much space as we had before, enables us to continue scaling up production of our UEVs, meet the demands of more fleet operators and government bodies who want to benefit from our technology. “We will also continue to grow this critical sector through the research and development of our proprietary EV technologies, too. “Above all, it’s a huge vote of confidence in our own technology and upcycling model, and in Silverstone as a location. We’re very excited that this new chapter for LAT has now begun.” © stock.adobe.com/tongpatong L-R: Stuart Hasler, custodial director, and Adam Conroy, project sale director L-R: Richard Johnson, Ian Lafferty, Nikki Whitfield, Stephen Heyes and Kris Carr 06-15.qxp_Layout 1 06/02/2023 12:37 Page 8PROPERTY NEWS Further four buildings to be delivered at Markham Vale Property developer HBD will bring forward a further four buildings at Markham Vale as planning permission is approved for an additional 107,250 sq ft. The industrial and logistics scheme will see another six acres developed to deliver the new units, with the potential to create a further 150 jobs at the site. Sustainability will be a key focus for each of the new buildings, which will be designed to achieve BREEAM “Excellent” and will be available on either a freehold or a leasehold basis. Richard Hinds, senior development manager at HBD, said: “Markham Vale is one of the region’s most successful destinations for industrial, logistics and warehousing space so it’s great to be able to expand the scheme to meet demand for well-located Grade A space. “The decision to approve a further 107,000 sq ft is testament to the longstanding partnership between HBD and Derbyshire County Council and our commitment to continuing to progress crucial regeneration schemes like Markham Vale when the economic outlook is more challenging. “We are currently in discussion with several occupiers looking for bespoke design and build units and expect work to start on site in the second half of the year.” Leicester Distribution Park fully let Property developer, Graftongate and global investment manager, BlackRock have completed a deal for the final available unit at Leicester Distribution Park (LEDP). The joint venture partners have completed the letting of a 150,000 sq ft distribution and logistics unit on a 10-year lease to a global transportation services provider. Built to BREEAM ‘excellent’ standard, Unit 2 was developed as part of the final phase of the 44-acre scheme, off the A47 near Leicester city centre. Graftongate and BlackRock carried out three phases of development at LEDP during a six-year period, creating eight Grade A logistics units totalling 715,000 sq ft. The first phase was pre-let, with the remaining seven units speculatively built and all let within six to nine months of completion. Established occupiers include Blanson, CCL Components, Piping Rock, Samworth Brothers, Power Towers, Company Shop Group and Leicester Tissue Company. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Evolve Estates acquires main shopping centre in Northampton Grosvenor Shopping Northampton is under new ownership after it was snapped up by Evolve Estates, the national commercial property and investment company. The real estate company, which is part of the M Core group, has added the 319,048 sq ft prime retail, leisure and events destination to its rapidly growing retail portfolio, acquiring it from L&G for an undisclosed sum. Joe O’Keefe, one of the founding partners of Evolve Estates, said: “We are pleased to have completed this acquisition in an incredibly challenging market, cementing our commitment to continued investment in the retail sector. “This is one of the largest retail centres to come under our ownership and we’re excited to get to work. We’re already in discussion with numerous tenants who will complement the scheme and the wider Northampton town centre offer. “It’s also rare to find a scheme like this, with so many positive projects going on in and around it. There are more than £25 million of government-backed development projects immediately surrounding the centre on three separate sites, with Market Square, Greyfriars and the Abington Quarter, plus the Clock House key worker residential scheme. These will provide significant opportunities for us and the town to grow and fulfil its potential.” The two-storey shopping centre was comprehensively refurbished in 2015 and is anchored by Primark, Boots and Next. 06-15.qxp_Layout 1 06/02/2023 12:37 Page 9PROPERTY NEWS Car company in top gear as dealership completed Construction of a major new premium used car dealership in Northamptonshire has reached practical completion. Premier Car Supermarket has expanded into Kettering with the completion of the new facility on a 3.55-acre site at Cransley Park. The premium used car retail operation, which has other dealerships in Derby and Leicester, is creating new jobs at the dealership which is located off the busy A43 at its junction with the A14 at Junction 8. The development includes a sales building incorporating a workshop and repair bay with external car wash facilities. There is also customer and visitor parking with most of the spaces for display sales vehicles. Other work included landscaping the site. Keir Edmonds, Managing Director at MCS Group, said: “The entire MCS Group team involved in the construction of the new Premier Car Supermarket at Kettering can be extremely proud of the fantastic new facility they have delivered. It has been a pleasure to work alongside the company on the project and we wish them huge success.” Premier Car Supermarket Chief Executive Neil Chapman said: “We are delighted to bring this growing brand to a new store in Kettering, and proud to be generating a number of new jobs and exciting new business opportunities for the town and surrounding areas.” Local company commits to future in Hinckley Local company, Geosynthetics, which supplies product solutions to the civil engineering sector, is relocating to a new 60,000 sq ft Net Zero Ready unit on IM Properties’ Hinckley Park scheme. The move retains 50 jobs in the region, consolidating three sites into a single, sustainable unit to future proof Geosynthetics’ operations. Established 25 years ago by Hinckley man, Chris Foxton, and now led by Nuneaton born Managing Director, Tracy Woods, Geosynthetics has grown from a home business to an annual turnover of £12 million. “We’ve been looking for a while and we’re relieved to be staying in Hinckley,” says Woods, who herself started as a trainee salesperson at the company, age 16. “The local people are our business and when we got into discussions with IM Properties about its Hinckley Park site, there seemed so many synergies, we just knew we had to make it happen.” Major plans for Grimsby leisure development approved The planning application for a new market hall, a cinema and other leisure facilities at the Western end of Freshney Place in Grimsby has been approved. Cllr Philip Jackson, leader of North East Lincolnshire Council, said: “This is good news, and we can now press on with our major plans to improve the town centre, to make them more attractive for people to live and work in. “We have been working in the background with professional advisers to look at the stores within both Freshney Place and the market that are likely to be affected, and have been having discussions with them individually about potential relocation within the centre while the works are ongoing. “We are also looking at how we can use any empty space within Freshney Place in different ways – potentially bringing more of a community focus to the centre to help balance out the changes to retail habits.” Work to deliver the scheme is likely to begin in the summer, initially stripping out vacant units before demolishing the former BHS building in early 2024 to make way for the new market hall. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link L-R: Harry Goodman, development manager, IM Properties, Tracy Woods, MD, Geosynthetics & Chris Foxton, founder, Geosynthetics 06-15.qxp_Layout 1 06/02/2023 12:37 Page 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY L ast month (January) saw the latest round of Levelling Up Fund grants allocated throughout the UK, with over 100 projects awarded a share of £2.1 billion from the Government to create jobs and boost the economy. A number of East Midlands locations are to benefit from the second round of funding, whilst others were unsuccessful in their bids. Business Link reflects on some of the most exciting developments set to move ahead. Derby secured £20 million of Levelling Up funding towards ambitious plans to redevelop the Assembly Rooms site, which was closed following a fire in 2014. The funding will contribute towards the vision for a new purpose-built learning theatre, placing culture at the centre of the area’s rejuvenation. It’s estimated that a new venue would increase theatre attendance by 83,000 and attract an additional 25,000 visitors to Derby each year, generating an extra £1.7 million per year for the local economy. The learning theatre would also provide opportunities for the wider Derby community to develop skills in the cultural sector and sit alongside the transformed Market Hall and new performance venue at Becketwell, and the existing Déda, QUAD and Museum of Making, in creating a cultural heart for the city. The announcement of the successful bid is expected to act as a major catalyst in regenerating the city centre and help attract additional funding and investment. The leader of Derby City Council, Councillor Chris Poulter, said: “This funding is an endorsement that Derby is a place to invest. It comes off the back of Derbion and the University of Derby both announcing transformational plans to re-develop key areas of our city. At Becketwell regeneration is well underway, the new public square and apartment block are nearing completion and construction work on Becketwell Performance Venue is set to start this year. The transformation of Derby Market Hall is moving apace and Derbion are in the process of redeveloping the Eagle Market and creating the Eastern Gateway. Derby is very much on the move.” Mansfield was also awarded £20 million from the Levelling Up Fund — for the Mansfield Connect project. As a result, the 1930s former Beales building is to be modernised and extended to provide a new headquarters for the council and house a variety of other public, educational, enterprise and health and wellbeing services alongside spaces for private sector investment. Elected Mayor Andy Abrahams said: “The wait may have been agonising, but I am elated to see that we have received approval for our full bid of £20m from the Government’s Levelling Up Fund. The Mansfield Connect project will offer a once-in-a-generation opportunity to develop new solutions to some of the district’s challenges. The scheme forms a vital part of our ambitious long-term town centre regeneration plans. Our new multi-agency civic and community hub at the former Beales department store will see a new multi-partner facility and provide a new headquarters for the council. But it’s not just about the council. This new hub will see the co- ordination of services across a range of partners including, the County Council alongside community, health, work and education and skills agencies. It will also be a beacon for evening activities with potentially dining, lifestyle and business opportunities. The building has long needed repurposing and will be brought back to life to rejuvenate our town centre. This repurposing will then have a Business Link highlights some of the ambitious developments set to move ahead in the East Midlands following the announcement of the successful bids in the latest round of the Government’s Levelling Up Fund. Levelling up 16-19.qxp_Layout 1 06/02/2023 12:38 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY knock-on effect, stimulating our local economy and encouraging private-sector investment into Mansfield District, which benefits everybody.” To date, the Department for Work and Pensions, Nottinghamshire County Council, Vision West Nottinghamshire College, Nottingham Trent University, NHS health partners, and volunteering co-ordinator the CVS have all expressed interest in being involved in the new hub. Tom Glynn, director for retail development at Colliers, added: “Public sector leadership in re-purposing challenging large former town centre retail units is essential in the current market. Mansfield Connect proposals will create direct new footfall from both staff operating from the building as well as visitors using services which in turn creates private sector confidence and new investment. This will be a great stimulus for Mansfield town centre.” Worksop, meanwhile, received an £18 million Levelling Up fund grant. Bassetlaw District Council and partners will contribute an additional £2 million in funding to support the Levelling Up project transforming the town centre, bringing the total to £20 million. The funding will initially focus on the redevelopment of the Priory Centre, creating a new family-focused leisure facility with activities such as tenpin bowling, indoor soft play, a trampoline park and a café. The scheme will look to retain existing occupiers and bring in new tenants for empty units. Works will also create a new towpath link along the Chesterfield Canal, improve a green corridor through the town centre, and bring two sites forward for the development of new apartments and town houses. Councillor James Naish, leader of Bassetlaw District Council, said: “We have a long-term vision for the regeneration of Worksop town centre and the Levelling Up funding is key to attracting further investment and unlocking the town’s potential. Our immediate focus will be the redevelopment of the Priory Centre with new leisure facilities, encouraging people into the town centre and giving visitors a reason to stay. This builds on the recent investment in the town centre through the Bridge Skills Hub and the new Middleton’s Yard development, creating a growing sense of confidence for Worksop.” Numerous other projects, of course, missed out in this round of Levelling Up funding, including significant bids from Nottingham for Broad Marsh, Bulwell and the Island Quarter. The leader of Nottingham City Council has vowed that the regeneration of Nottingham will continue despite the disappointment. Councillor David Mellen said: “All three Nottingham bids were very strong and © stock.adobe.com/1599685sv 19 Á 16-19.qxp_Layout 1 06/02/2023 12:39 Page 2Armstrong house Armstrong House, Armstrong Street, Grimsby, North East Lincolnshire DN31 2QE Tel: (01472) 310301 Email: s.fisher@blmgroup.co.uk Superb Location - - Close to the ports of Grimsby & Immingham - Great motorway links - Close to the town centre Secure off street parking High speed internet availability A range of affordable office sizes 3 3 3 3 Last remaining office suites Prime location in Grimsby Offering a prime position in Grimsby, Armstrong House on Armstrong Street is ideally located. Close to the ports of Grimsby and Immingham, motorway links and the town centre, off-street parking is also available for all staff and visitors, meaning it’s convenient too. Our spacious, welcoming offices are located on the ground floor and are both secure and CCTV-monitored, giving you the ultimate peace of mind. At Armstrong House, when it comes to affordability and with a range of office sizes there are opportunities for all types of business. If you require virtual office services, prices start from just £15 per month. For more information, or to discuss your office requirements call 01472 310301. 16-19.qxp_Layout 1 06/02/2023 12:39 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY clearly aligned to what the Levelling Up Fund is meant to be about. So it’s a big disappointment that all of them have been turned down for Levelling Up funding, which Nottingham so clearly needs. There has been huge support for the exciting new vision for Broad Marsh we unveiled just over a year ago…. Work on the Green Heart, which was a key element of the vision and something many people wanted to see, will still get underway this year using national funding we have already secured. We will continue our public realm improvements in the area, which are also funded from a different Government pot, as well as completing the fit-out of the new Central Library later this year.” Councillor Mellen continued: “The Levelling Up bid was for work to retain and re-use the Frame of the old shopping centre which is just one aspect of a wider vision for the whole site. It is still an element we want to include and we will explore alternative public and private funding options so that the whole vision can be realised.” He went on to comment on the other two bids which the Government chose to reject, saying: “The Bulwell project would have helped to transform the town centre while the Island Quarter bid would have brought three derelict but landmark buildings on the site back into use…. Conygar still have exciting plans for the Island Quarter, with a new canalside bar and restaurant already open, work underway on new student accommodation and proposals for a hotel, private apartments, offices including a planning application for a new bioscience building and public spaces in the pipeline.” The Government has confirmed there will be a further round of the Levelling Up Fund. The former Beales building How a new learning theatre on Derby’s Assembly Rooms site could look 16-19.qxp_Layout 1 06/02/2023 12:39 Page 4Next >