< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Construction recruitment specialist set to grow following £2.5m funding package Lincoln-based business Clements Young, which offers recruitment services for the construction and M&E sectors, has secured a £2.5m finance deal with NatWest. The investment deal will enable Clements Young to explore opportunities to grow the business, including recruiting a number of new internal staff and expanding into regional locations across the UK. Founded in 2018, Clements Young has supported more than 130 customers within the construction and building services industry, working closely with clients and candidates to build relationships, understand the business need and ensure a beneficial employment outcome for both parties. Matthew Jones, Managing Director at Clements Young, said: “As the business grew organically over the last few years, it became increasingly important that we secured a new finance solution that matched our needs and future ambitions. This new funding line gives us the flexibility and freedom to explore new opportunities, which really puts us in control of our own destiny.” All change at Derby accountancy company as co-founder takes on sole ownership It’s all change at a Derby accountancy company as one of its co-founders takes on sole ownership. Bev Wakefield, who set up Vibrant Accountancy with Ian Ball in September 2019, will lead the business, with co-founder Ian Ball moving to Pride Park-based CoMech Metrology to become their finance director. Bev says that she is excited about the future of Vibrant – with plans to participate in more seminars and re-introduce networking groups at the Lodge Lane-based business – and she thanked Ian for his support. She said: “It has been an incredible journey since starting Vibrant with Ian and I want to thank him for his support and friendship. “Together with my brilliant team, I want to continue the legacy and make an impact in an industry that has long been considered stuffy, impenetrable and dominated by well-established, big-name players. I want to continue to evolve and disrupt and I’m excited about the future.” Matlock accountancy practice merges with Buxton chartered accountants Matlock accountancy practice, Malcolm J Harris Ltd, has merged with Buxton chartered accountants, SMH BullockWoodburn, enabling the firm to offer an increased level of service to its clients as it becomes part of the wider Yorkshire and Derbyshire-based SMH Group. The firm now operates from the SMH BullockWoodburn office on Hardwick Square North in Buxton. Ross Jordan, partner of SMH BullockWoodburn, says: “The merger is an excellent opportunity for both firms. It provides long term security and more added value services for clients of Malcolm J Harris and allows for further growth of SMH BullockWoodburn within the SMH Group. “Clients of Malcolm J Harris will now benefit from a complete range of services that they haven’t been able to access before, including our personal financial services, such as pension & investment advice, and assistance with wills & probate and Inheritance tax planning. “Having recently been appointed as a director and partner of SMH BullockWoodburn, I am actively looking to grow the business, and the merger with Malcolm J Harris Ltd is a great place to start. We’d like to offer a warm welcome to all staff and clients into the SMH family.” Malcolm Harris, on behalf of Malcolm J Harris Ltd, adds: “We have always offered our clients a personal, proactive and customised service to meet their needs and requirements. However, for a smaller company the burden of increased administration, regulation, and AML, as well as looming tax legislation changes, combined with our retirement plans, has meant that we need a larger partner to continue to provide the excellent level of service we have always prided ourselves on offering to our clients.” Matthew Jones, MD, Clements Young Bev Wakefield 06-15.qxp_Layout 1 04/10/2022 09:12 Page 5FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Specialist metals supplier secures £1m to support growth A Chesterfield business has secured a £1m investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme. The funding follows a £500,000 MEIF loan in November last year, which helped the company with a range of business growth activities including marketing, IT, new jobs and a move to bigger premises. The most recent loan will be used for further staff hires, equipment purchase, and maintaining stock levels to support new contracts. International Energy Products is a metal stockholder and processor of speciality alloys servicing the oil, gas and renewable energy industries as well as aerospace, marine and defence sectors. The company was set up in 2017 by Emma Beresford who spent the next two years establishing a robust supply model before full trading commenced in 2020. This has placed the company ahead of the curve in a market where an already challenging supply environment has been worsened by the war in Ukraine. International Energy Products founder and Managing Director, Emma Beresford, said: “Having just reached the point of trading when the pandemic hit, our growth plans inevitably slowed but we are now ready to scale up in line with the recovery of our customer base. “As a new business that doesn’t have the trading history needed for bank funding, the MEIF loan will help us with the cashflow and capacity needed to take on new, large contracts and we are thankful to FSE for investing in our future growth.” © stock.adobe.com/ Stockfotos-MG © stock.adobe.com/ Viiviien Derbyshire pub group acquired by investment manager Investment manager Downing LLP has acquired The Pub People Group of companies and committed to further funding for expansion. Downing has acquired Pub People, based in Alfreton, Derbyshire from its management team – Andrew Crawford and Kevin Sammons – and merged it with its existing investment in Autumn Pubs Limited, which has been managed under contract by Pub People since 2012. Funds managed by Downing will be the majority shareholder in the combined business. The group includes 49 managed pubs and Downing has committed further funding to help the group expand through acquisitions. Kevin Sammons has headed Pub People for over 28 years and has established it as one of the top independent pub companies in the Midlands, with a quality estate and a well-resourced central function. Its estate of high-quality food and drink pubs is based in and around Nottingham, Derby, Chesterfield, Sheffield, and Lincoln. Following the acquisition, Kevin Sammons will transition into a non-executive role, while Andrew Crawford will move into the role of Managing Director. Kevin Sammons said: “I am proud to have led and built this successful company, along with the many loyal and exceptional employees who have been important contributors to that success. They can now continue the Pub People journey along with Downing and fulfil their and the group’s potential. I am extremely grateful for the support Downing has given us over the last 10 years. It is now time for me to step back and hand over to a worthy and capable successor and his team.” Kevin Sammons said: “I am proud to have led and built this successful company, along with the many loyal and exceptional employees who have been important contributors to that success. They can now continue the Pub People journey along with Downing and fulfil their and the group’s potential. I am extremely grateful for the support Downing has given us over the last 10 years. It is now time for me to step back and hand over to a worthy and capable successor and his team.” © stock.adobe.com/ Natee Meepian 06-15.qxp_Layout 1 04/10/2022 09:12 Page 6New fully-funded programme launched for manufacturers in Leicester and Leicestershire Advanced manufacturers in Leicester/Leicestershire are encouraged to book spaces on the fully- funded Ambition to Grow programme. The programme has been designed to nurture entrepreneurialism in the region by improving the growth success of advanced manufacturing businesses. The programme will consist of one-to-one tailored business support from an industry expert, peer networking and a series of six masterclasses which have been designed to address the challenges faced by local manufacturing business leaders. The programme is partly funded by the European Regional Development Fund, organised by Leicester Business Gateway and delivered by Oxford Innovation Advice. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS East Midlands manufacturer secures £1.5m furniture and fitout contracts in Scotland Mansfield-based Deanestor, one of the UK’s leading furniture and fitout specialists, has been awarded its second contract this year for North Lanarkshire Council, taking the value of these orders to £1.5m. The latest project is to provide furniture and fitout services for a £20m community hub in Chryston which is being delivered by hub South West Scotland and their construction partner, Robertson Group. Deanestor will manufacture, procure and install over 5,200 items of furniture and equipment for Chryston Community Hub, including shelving, seating, storage cabinets, worktops, tables, and teaching aids. Designed by Ryder Architecture, this is a shared campus development for primary education and community health provision in a single building. The building will have spaces for up to 509 primary pupils to meet the rising demand for school places in the area. Due for completion in autumn 2023, the hub will also incorporate a community health clinic to support the provision of health services. Manufacturers expect sharp fall in output in next three months UK manufacturers reported a slight fall in output in the three months to September, with a much sharper decline expected in the next three months, according to the latest CBI/Accenture monthly Industrial Trends Survey. This is the weakest expectation for output growth since the three months to January 2021. The survey found that total order books were seen as broadly normal in September, while stocks were more than adequate for the first time since April 2021. Manufacturers continue to expect a rapid increase in average selling prices in the coming quarter. Anna Leach, CBI deputy chief economist, said: “It is clear that the downturn, which originated in consumer-facing services, has spread to manufacturing, with output falling for the second month running. When adding an uncertain demand environment to ongoing input and labour shortages, and a cost-of-doing-business crisis, the outlook looks increasingly challenging for the sector. “If the country is going to fulfil the government’s ambitious plans to supercharge economic growth, businesses need the confidence and the capital to invest. The announcement of support on energy bills is a good first step, and the CBI looks forward to working in lockstep with the Government going forward.” © Ryder Architecture 06-15.qxp_Layout 1 04/10/2022 09:12 Page 7Rolls-Royce completes sale of ITP Aero Rolls-Royce has completed its sale of ITP Aero to a consortium of investors led by Bain Capital Private Equity, at an enterprise value of approximately €1.8 billion. The completion of the transaction, which was announced on 27 September 2021, follows the announcement on 3 August 2022 of approval of the transaction from the Spanish government. Sale proceeds were €1.6 billion. In addition a dividend of €0.1bn was paid shortly prior to completion. The proceeds will be used to reduce debt with the immediate repayment of Rolls-Royce’s £2 billion loan, which is supported by an 80% guarantee from UK Export Finance, helping to rebuild the Rolls- Royce balance sheet in support of its ambition to return to an investment grade credit profile in the medium term. The sale of ITP Aero completes the disposal programme Rolls-Royce announced on 27 August 2020. ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Rolls-Royce Submarines opens Nuclear Skills Academy in Derby Rolls-Royce Submarines Ltd has opened the doors of its new Nuclear Skills Academy in Derby. The Nuclear Skills Academy is the first of its kind and aims to sustain nuclear capability within the UK’s submarines programme by creating a dedicated pipeline of talent at the start of their careers. Based in Derby, the Nuclear Skills Academy is supported by industry and education experts, including the Nuclear Advanced Manufacturing Research Centre, the National College for Nuclear, the University of Derby and Derby City Council. This ensures new apprentices have access to the best courses and mentors throughout their apprenticeship. Rolls-Royce announced its plans for the Nuclear Skills Academy in May 2022 to huge interest from across the UK. With more than 1,200 applicants for only 200 places in its 2022-23 academic year it’s been a tough job to narrow down the successful candidates. Steve Carlier, president, Rolls-Royce Submarines, said: “We are thrilled by the levels of interest in these apprenticeships, and it highlights how attractive a career in the nuclear sector really is. With the growing demand for clean, carbon-free energy and with our submarines contracts with the MoD likely to sustain us into the next century, this could be a job for life for our new apprentices. “Having started with Rolls-Royce as an apprentice myself and being born and bred in Derby, the launch of the Nuclear Skills Academy is especially exciting for me. I’m delighted that we are leading the way in developing nuclear talent for the submarines enterprise and proud that it will all be done in Derby.” The Nuclear Skills Academy has the funding to provide 200 apprentices each year with nuclear education across four different courses for at least the next 10 years. The support of key industry organisations in driving the project forward has been invaluable for Rolls-Royce. © stock.adobe.com/ moodboard © stock.adobe.com/ Ryan 06-15.qxp_Layout 1 04/10/2022 09:12 Page 8PROPERTY NEWS Melton Building Society appoints local business to carry out office revamp Melton Building Society have partnered with fellow Leicester business, Blueprint Interiors, to carry out the refurbishment of their Mutual House offices. Work is set to start in early October to modernise the interior of the well- known building, a landmark passed regularly by commuters travelling along Leicester Road. There will be no disruption to service during the renovations which are intended to improve the functionality of the workspace for Melton Building Society colleagues, and also provide new meeting and event space that will be opened up for use by local charities and community groups. Simon Taylor, CEO of Melton Building Society, commented on the refurbishment plans: “We are thrilled to be able to support a fantastic local business such as Blueprint Interiors by appointing them to carry out the transformation of our offices. “As a mutual, our founding purpose is to ‘build thriving communities’ and so the aim of the revamp is to better accommodate our colleagues, most of whom live locally, with a more efficient work environment and to bring value to our members by investing in our shared future.” Planners approve trio of new developments at Leicester’s Pioneer Park Brackley Property Developments (BPD) has secured planning consent to deliver three new buildings at a science and technology park in the East Midlands. Leicester City Council has given approval for the development of Plot 3C, a c.1.1 acre parcel of vacant land at Pioneer Park, Exploration Drive, within Leicester’s Science and Innovation Enterprise Zone. The new self-contained developments will deliver contemporary accommodation suitable for knowledge based and creative businesses, ranging in size from 6,000 – 25,000 sq ft. Features will include LED lighting, raised floors, heating and cooling systems, as well as dedicated on-site parking, EV charging provision and cycle storage. Major infrastructure works are underway to support the new business space at Pioneer Park and bring forward an adjacent four hectares of land at Space Park, University of Leicester’s development for space research, learning and innovation. More than 42 high-tech businesses are already located within the Dock, a successful and managed development within the existing science park. Managing Director of BPD, Stephen Pedrick-Moyle, said that the developer had begun a design and tender process and anticipated being on site at Pioneer Park in early 2023. East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Plan for £3m heritage vehicle centre on historic site motors ahead The team behind plans to build a £3m heritage vehicle centre on an historic site in Osmaston have thanked Derby City Council after they were given the green light to start work on the project. Owners of Great Northern Classics said contractors are moving onto the site after “tremendous support” from the council helped them to get the necessary permission and funding over the line. The project, which is expected to create 120 jobs, will see the former Light Alloy Factory in Osmaston Road transformed into a centre where owners of classic vehicles can bring their pride and joys to be repaired and restored. They will be able to access upholsterers, electricians, mechanics and bodywork specialists, all of whom will be given workshop space under the same roof within the 85,000 sq ft building. The centre is also designed to preserve and propagate crucial skills for the classic vehicle industry by acting as a training academy and will have facilities so that visitors will be able to meet and look at the work taking place and attend/host conferences and meetings, while the site will offer vehicle storage as well. From left: Councillor Nadine Peatfield, ward councillor for Sinfin; Mike Copestake; Chris Poulter, leader of Derby City Council; Shaun Matthews, founder of Great Northern Classics; Mick Barker, deputy leader of Derby City Council, and Stuart Bennett, owner of project contractors Grace Construction. 06-15.qxp_Layout 1 04/10/2022 09:12 Page 9PROPERTY NEWS Plans submitted for £25m trade counter and urban logistics development in Nottingham Developer Chancerygate has submitted plans to speculatively build 98,000 sq ft of trade counter, urban logistics and industrial space in Colwick, Nottingham. Called Colwick Gateway, the proposed scheme will be located on a 6.35-acre site in Colwick Industrial Estate and comprise 14 Grade A leasehold units ranging from 3,500 sq ft to 27,200 sq ft. The projected gross development value is around £25m. The site, which was formerly a major fuel distribution centre for Total Petroleum and has been unused for a number of years, is located off Colwick Loop Road approximately five miles east of Nottingham city centre. Chancerygate development manager, Mark Garrity, said: “Our proposed plans at Colwick aim to satisfy the high demand for Grade A sustainable trade counter, urban logistics and industrial accommodation in the Nottingham area. “The site is situated in a prime industrial area of Nottingham, meaning it is best placed to serve businesses operating within the city as well as across the wider East Midlands region.” Green light given for Colton Packaging’s Loughborough expansion plans Following an application submitted to Charnborough Borough Council earlier this year, conditional planning has been unanimously approved for Colton Packaging to build two new industrial units for storage and distribution at its Loughborough HQ. Laura Colton-Smith, Managing Director at Colton Packaging, said: “We’re really pleased that planning has been granted for two new units within our Loughborough site. The new buildings form part of our long-term growth plans and will provide much needed additional space for the storage and distribution of our corrugated packaging solutions.” The significant investment in the construction and fit out of the two new light commercial units will add a further 10,800 square foot in storage and distribution space to the Loughborough site, increasing the footprint of Colton’s headquarters at Hockey Close to over 65,000 square feet. It is also expected to create two new jobs, initially an additional driver and warehouse person, with more roles planned in 2023. Works begin at new Kibworth business park Clowes Developments have appointed contractor TanRo to begin works at Beauchamp Business Park in Kibworth following planning consent being granted by Harborough District Council. J.C. Balls & Sons have commenced earthworks which has seen plateaus, infrastructure and landscaping beginning to take shape just a short while since works began on site. The commercial development comprises a circa 11acre allocated site located on the outskirts of Kibworth between Leicester and Market Harborough on the A6. Clowes will deliver a range of high-quality industrial units ranging in size from 1,270 sq ft to 10,085 sq ft available on a freehold or leasehold basis. Robin Orgill, director at TanRo, said: “It’s great to get this development under way. There’s a hive of activity around the site as we team up with J.C. Balls & Sons to begin preparing the site for construction. Storm water drainage has been installed at the main entrance and footings are being laid, an attenuation pond has been dug out and the rest of the ground is being levelled off in readiness for the next phase of development.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 06-15.qxp_Layout 1 04/10/2022 09:12 Page 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY The East Midlands - the land for LOGISTICS 16-19.qxp_Layout 1 04/10/2022 09:15 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY W ith excellent transport links, a strong labour pool, and a growing on- demand logistics market thanks to digitalisation and quicker delivery expectations, the desire for logistics property in the East Midlands continues to boom. Our county is only becoming more popular as a location for businesses to establish hubs and for investors and developers to construct new schemes. Indeed recent deals and newly released and approved plans have showcased the increasing demand for logistics buildings in the region. Here, East Midlands Business Link highlights some of these key developments. Tritax Symmetry, the dedicated logistics development company for Tritax Big Box REIT plc, recently committed to speculatively build a 132,750 sq ft logistics building on the last remaining plot at Symmetry Park, a £70 million industrial and distribution scheme located at Junction 34 of the A1 (M) on the North Nottinghamshire/South Yorkshire border, where the logistics developer has committed to deliver up With demand high, logistics units are being snapped up across the East Midlands while new developments spring forwards. Symmetry Park 18 Á 16-19.qxp_Layout 1 04/10/2022 09:15 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY to 721,000 sq ft of logistics space. It follows a deal with B&Q, which is taking a 430,240 sq ft warehouse and distribution facility already well under construction. The Leeds offices of Savills, Dove Haigh Phillips and Colliers International are representing the development. Simon Dove, partner at Dove Haigh Phillips, said: “This commitment from Tritax Symmetry to speculatively deliver the third and final unit, offering over 132,000 sq ft is testament to a very strong occupier market. In particular for this location which has become a hot bed for industrial and distribution businesses, not least because of its direct access to the motorway. The new unit will have over 250 metres direct frontage to the A1(M), giving major brand prominence for any occupier, with a market leading specification and full infrastructure already in place.” Meanwhile the construction of a new speculative 160,800 sq ft industrial warehouse on the site of the former Weetabix factory on the Earlstrees Industrial Estate in Corby has been given the green light. Copley Point Capital – on behalf of its Block Industrial program and Pembury Real Estate Ltd – submitted a planning application to North Northamptonshire Council earlier this year having purchased the 8-acre site on one of the town’s prime industrial parks. The demolition of the existing building is close to being completed and the construction of the new unit will commence shortly to deliver a new facility by Q3-2023. The unit will be BREEAM Very Good rated and will feature a 12.5m minimum clear eaves height, 16-dock and two-level access doors, together with a 50m yard. Copley Point Capital director, Nimit Oberoi, said: “We’re very pleased to have obtained planning permission for ‘Earlstree160’ just seven months after our acquisition. This is a testament to the hard 16-19.qxp_Layout 1 04/10/2022 09:15 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY work of our team and the positive and pragmatic attitude of North Northamptonshire Council. The development is in an excellent location where there is very little supply of new, high-specification industrial units. Earlstree 160 is best placed to help satisfy the strong demand for Grade A urban logistics and industrial space that there is for businesses operating locally, regionally and nationally.” Moreover, lettings announced just last month further illustrate the demand for logistics space in the East Midlands. One such saw Aviva Investors, the global asset management business of Aviva plc, let a 133,000 sq ft unit at Swan Valley Industrial Park, Northampton to WT Transport Limited, a haulage company providing warehousing and transport solutions. WT Transport has signed a 10 year lease at the facility which has been developed with sustainability and scalability in mind. Alongside the inclusion of additional steels to house photovoltaic solar panels across the roof, the property also has a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’, and EV charging points. Nippon Express, one of the top five global logistics services providers, meanwhile, has let a speculatively built 45,000 sq ft unit at Willow Farm Industrial Estate, Castle Donington, and Eurocell has taken a recently refurbished 60,000 sq ft distribution facility at Garnham Close, Alfreton, Derbyshire. Commercial Property Partners (CPP), in conjunction with joint agents FHP Property Consultants, negotiated terms for the latter and subsequently leased the premises to Eurocell, with Tim Gilbertson from FHP saying: “It’s great that we managed to secure such a strong covenant in Eurocell, our joint marketing created interest from any number of parties and we had to disappoint quite a few, which shows the strength of local demand and the lack of space available.” Furthermore, one of the UK’s largest distributors of renewable energy systems has arrived at Leicester Distribution Park (LEDP). Glasgow-based CCL Energy Group has completed a 10-year lease on Unit 6, a newly built distribution and logistics unit of 45,000 sq ft. Graftongate and BlackRock have delivered eight Grade A logistics units at LEDP during three phases of development, with a total combined area of 700,000 sq ft. Four of the buildings were constructed in the final phase of development, each containing strong sustainability features being built to carbon neutral construction and operational standards. They include PV solar panels, EV charging points, rainwater harvesting, sustainable drainage systems and intelligent energy monitoring. Graftongate director, Colin Beasley said that LEDP’s location in the heart of the Golden Triangle had created consistently high interest from prospective occupiers. He said: “We’re very pleased to have completed the letting of Unit 6 to CCL Energy Group. Its arrival not only complements the high calibre of occupiers that have chosen to grow their businesses at LEDP but supports our decision to speculatively build out a mid-box scheme in Leicester. We are continuing to see an appetite for distribution and logistics accommodation of this quality in the region and are confident of letting the final available building shortly. It will mean that all four new units in the final phase of development have been let within six months of practical completion.” Nippon’s unit at Willow Farm Industrial Estate Leicester Distribution Park 16-19.qxp_Layout 1 04/10/2022 09:15 Page 4Next >