< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Streets Chartered Accountants makes latest in string of mergers Lincolnshire-based Streets Chartered Accountants has established Streets Bush Limited. The announcement follows the merger of the Exeter chartered accountancy firm of Bush & Co with the fast-growing multi regional practice, Streets Chartered Accountants. This latest merger sees Streets firmly establish a presence in the South West. When asked about the merger Shane Cann, Managing Director of Streets Bush, said: “We are thrilled to announce our merger with Streets and are excited about the future for our team and our clients as we move forwards as part of the wider Streets team. “It was very important to us that we joined forces with a firm who shared our values and ethos with an underpinning focus on excellent client service. “We chose Streets because they also provide a tailored and bespoke service covering all areas of expertise across a broad range of sectors and in addition, we wished to retain some independence and investment in the existing business, providing for the continued longevity of the practice for our clients and our team.” £15m loan funding secured for Wavensmere’s Milford Mills in North Derbyshire Quantum Development Finance has agreed to provide Wavensmere Homes with a £15m loan to enable the £22m redevelopment of Milford Mills, which overlooks the River Derwent, located between Belper and Duffield in north Derbyshire. The development will comprise 69 new homes to be delivered on the historic brownfield site, which is within the Derwent Valley Mills UNESCO World Heritage Site. Accessed off Derby Road (A6) in the centre of Milford village, the redevelopment of former commercial premises will feature 42 two- and three-bedroom houses and 27 one- and two- bedroom apartments, within a four-storey building overlooking the River and Mill Lade. With development finance in place, Wavensmere’s team is continuing to work alongside officers from the Borough Council to enable construction to commence in January. Sam Hudson, Head of Portfolio Management at Quantum Development Finance, said: “Following the success of our initial loan at Nightingale Quarter we are delighted to continue this partnership on Milford Mills. At Quantum Development Finance we pride ourselves on building long-standing relationships, especially with one of the leading regeneration specialists in the UK.” WBR Group announces acquisition of Brunel Trustees WBR Group, the independent provider of SSAS services and tax experts, has acquired NM Perris & Co Ltd, which trades as Brunel Trustees, along with associated companies Brunel Trustees Limited and Omniphi Systems Limited. All three businesses will continue to trade under their current names. The businesses are based in Bristol, well-established, with a strong reputation in the SSAS administration sector and software development. The acquisition includes 200 SSAS schemes with assets under administration totalling £300 million. This strategic acquisition will enhance WBR Group’s service proposition and further expand its presence in the UK market. WBR Group is headquartered in Leicester, and following completion has five additional offices in Bolton, Bristol, London, Salisbury and Wimbledon, providing support to clients across the UK. The Group now has over 4,500 SSAS with assets of over £4.5bn and nearly 200 employees. Left to right: Streets Bush Director Catherine Dymond, Business Support Manager Geoff Holmes, Senior Partner Sunny Truran, Chairman and Managing Partner of Streets Paul Tutin and Streets Bush Managing Director Shane Cann FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link © stock.adobe.com/fizkes Midland Wealth Solutions relocates to Sadler Bridge Studios Independent financial planning experts, Midland Wealth Solutions, have relocated to new offices at Sadler Bridge Studios, part of the Connect Derby portfolio of managed workspaces. Midland Wealth Solutions was founded in 2016 by David Bradley and has expanded to become a trusted name in the financial services sector in the Midlands, London, and the South East. David and his team previously occupied a shared office space on St Mary’s Gate in the city and their relocation was driven by the need for a more professional environment that would support the firm’s expansion and cater for its growing client base. David Bradley, director of Midland Wealth Solutions, said: “We’d been on the lookout for a new office in Derby city centre for a while to support our expanding client base. “We considered several locations, but Sadler Bridge Studios stood out due to its central location and facilities, especially the in-house café, meeting rooms and super-fast broadband. “The facilities available here are already making a huge difference. The dedicated meeting rooms are perfect for client presentations, and the reception services and post handling are efficient and professional.” Using your pension to buy a commercial property SSAS pensions (Small Self- Administered Schemes) are a pension mainly for SMEs, designed to provide control and flexibility over key decisions as well as providing a vehicle to save responsibly for retirement (in a tax efficient way). SSASs offer a wide range of investment options, including the purchase of commercial property. The principle is simple- business owners could look to use their own SSAS to purchase their business premises. The property could then be let back to their business, generating a rental income stream for the pension. You can only buy commercial property in a pension, not residential (which would incur onerous tax charges). There’s a couple of extra tax advantages in owning a property that you operate from via a SSAS too. Your pension won’t pay any income tax on the rent received and won’t pay any capital gains tax when the property is sold either. If you also lease the property, the rent payable to the SSAS should be deductible from the profits of the tenant business – this might result in a corporation tax reduction. It’s important to remember that when a pension purchases a property from someone connected (i.e. the pension holder, a family member or their company), market value must be paid for the property. This advice must be obtained from a qualified valuer, to make sure that the transaction proceeds as if it were ‘arm’s length’. Each pension provider has different rules for what types of property they can acquire. For further information call 0333 320 9230 or visit wbrgroup.co.uk Caitlin Southall, Head of SSAS Proposition WBR Group Derby manufacturer and supplier to the rail industry sold to Swedish group Tidyco, a Derby-based manufacturer and supplier of hydraulic and pneumatic products and assemblies to the rail industry, has been sold to Swedish-based Indutrade AB. Indutrade is an international technology and industrial business group based in Sweden that operates through more than 200 subsidiaries with some 9,600 employees in more than 30 countries across six continents. Dains provided support throughout the transaction, including the provision of corporate finance advice, accounting support and tax services. Roy Farmer, Head of Corporate Finance at Dains, said: “We are delighted to have advised James and the team at Tidyco on this significant milestone. Tidyco is a fantastic business with a strong reputation in the rail industry. “By identifying Indutrade as a strategic buyer early in the process, we were able to secure a deal that aligns with Tidyco’s values and future aspirations. Achieving a pre- Budget completion was important for James, and we’re pleased we could deliver this. We wish James and everyone at Tidyco continued success under Indutrade’s ownership.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS BRUSH acquires majority stake in Scottish engineering contractor Loughborough-based energy engineering solutions provider BRUSH Group has acquired a majority stake in Scottish infrastructure and environmental engineering contractor McGowan Group. The multimillion pound deal sees McGowan – a National Electricity Registration Scheme (NERS) accredited Independent Connection Provider (ICP) – become a key part of BRUSH Engineering Solutions, a leader in turnkey solutions to the UK’s power distribution network. Based in Aviemore in the Scottish Highlands, McGowan employs 60 people in three business units: McGowan Infrastructure, McGowan Environmental, and Eco Cable Protect UK. Nicolas Pitrat, CEO of BRUSH Group, said: “This is an exciting deal for both BRUSH and McGowan, creating significant growth opportunities both north and south of the border. There are strong synergies between our two businesses and McGowan’s impressive environmental credentials add a new dimension to our engineering capabilities. “What’s more, their exclusive Eco Cable Protect business gives BRUSH customers a lower cost, lower carbon alternative protection system for cable and pipe laying projects across the UK.” Manufacturing output volumes fall, but near-term outlook improves Manufacturing output volumes fell in the quarter to November, and at a faster pace than in the three months to October, according to the CBI’s latest Industrial Trends Survey (ITS). But the near- term picture is more positive, with manufacturers expecting output volumes to rise modestly in the quarter to February. Total order books improved relative to last month, while volumes of export order books were unchanged. Both total and export order books were reported as below their long-run averages. Expectations for selling price inflation picked up in November, with prices expected to rise at a rate that is broadly in line with the long-run average. Stock adequacy (for finished goods) was the highest since August 2020. Ben Jones, CBI Lead Economist, said: “Many firms still need to work through the implications of the Budget for their own plans for pay, hiring and investment, but it’s an encouraging sign that output volumes are expected to return to growth in the quarter ahead, with order books also showing some improvement this month.” BRUSH Group CEO Nicolas Pitrat with Ross McGowan, CEO and founder of McGowan Group Left to right: Phil Mason (Tidyco), Scott Mawby (Indutrade), Mark Portsmouth (Tidyco), Göte Mattsson (Indutrade), Paul Jacks (Tidyco), Fredrika Bruu (Indutrade), James Tidy (Tidyco), Peter Rowlands (Indutrade), David Tidy (Tidyco) Hydrogen innovation earns Luxfer Gas Cylinders gold at regional manufacturing awards A commitment to pioneering the use of hydrogen technology has seen Luxfer Gas Cylinders recognised for its innovation at the regional Make UK Manufacturing Awards – paving the way for the company to compete in the national finals in January 2025. Luxfer Gas Cylinders – the world’s largest manufacturer of high-pressure composite and aluminium cylinders – was presented with the Make UK Midlands Innovation Award last month. Organised by Make UK, the body that represents manufacturing industry across the UK, the awards were held to mark the achievements of companies from across the Midlands. Judges handed a gold to Luxfer Gas Cylinders in recognition of its extensive and relentless efforts to develop new systems and infrastructure to transport hydrogen safely. This has involved significant seven figure investment in R&D across teams in the UK and North America in order take advantage of what is expected to be a substantial uptake in the use of hydrogen for clean energy in the future. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS Plastic packaging firm invest in new machine to secure future growth A Leicester-based plastic packaging manufacturer has invested in a new blow moulding machine to boost efficiency and support the growth of the business. Family owned Measom Freer has purchased a GDK hybrid extrusion blow moulding machine from UK distributor 3PA which will support the growth of sales in the chemical market. The machine signifies the company’s continued investment in new equipment and their drive to generate new business in the chemical sector with a focus on sectors such as janitorial and car care. The hybrid, 10 litre capacity blow moulding machine will help improve production efficiency via automation and lower energy consumption. These improvements will enable Measom Freer to provide lower costs for products in high and low volumes. As part of the company’s strategic growth strategy, new products targeting the chemical sector will be added to the range. Measom Freer Production Manager Ben Freer said: “The new machine will enhance our capabilities and product offering to customers as well reducing our energy consumption and impact on the environment.” Coalville company introduces UK’s first carbon capture to concrete production Groundbreaking technology that can capture carbon from the atmosphere and lock it into recycled concrete has been brought to the UK by Aggregate Industries. The Coalville-based building materials supplier, part of the global Holcim Group, and Swiss company neustark have set up a mineralisation plant in London – the first venture into the UK market for the Swiss cleantech start-up which has 19 other sites in Europe. Neustark technology helps turn waste from demolished concrete – the world’s largest waste stream – into a carbon sink, permanently locking carbon removed from the atmosphere into processed concrete. The technology works by taking concrete from demolished buildings which is crushed and screened at an AIUK recycling site. It then undergoes a procedure in which CO2, captured from biogas plants, is liquified and injected into the concrete granules. This triggers a mineralisation process which permanently locks the captured carbon into the granules and can then be used to make new concrete or other building materials. © stock.adobe.com/wi6995PROPERTY NEWS Brackley Property Developments unveils new £6.25m light industrial scheme in Leicester A vacant former housing depot in Leicester has been transformed with the development of a new £6.25 million light industrial scheme. Commercial property developer, Brackley Property Developments, has completed the construction of Blackbird Industrial Park, which comprises more than 30,000 sq ft of new light industrial units at the site on Blackbird Road, on behalf of Leicester City Council. The scheme comprises four new and environmentally sustainable buildings which are subdivided to provide 21 high quality small units for start-ups and growing businesses, meeting a regional demand for commercial and industrial workspace. Units are EPC A-rated and range in size from 750 sq ft – 2,500 sq ft. Features include roof-mounted solar panels, super insulation and low-energy smart lighting, and the site provides on-site parking, EV charging and bicycle storage facilities. The brownfield site was previously home to the Ian Marlow Centre, a former housing depot used by Leicester City Council, which included vacant office, workshop and storage buildings. Major Lincolnshire industrial unit sold for £3.3m Watling Real Estate has completed on the sale of a substantial industrial unit in Lincolnshire for £3.3m. Ben Holyhead and Chris Davies in the Birmingham office of Watling Real Estate were instructed by Elizabeth Welch and Matthew Ingram of Kroll, who were appointed joint administrators of Cartwright Bros (Haulage) Ltd in June this year. A sale of the 78,733 sq ft unit on Freeman Road, North Hykeham, Lincoln was secured to a local occupier. Ben Holyhead said: “Given the critical shortage of standing freehold industrial stock within Lincolnshire and the wider East Midlands, and with the cost of developing new accommodation exceeding £100 per sq ft, we anticipated strong interest in this unit. “We were pleased to achieve the asking price of £3.3 million following a competitive bidding process and to conclude the sale in a timely fashion. It’s great to see this unit acquired by a local occupier, providing them with much needed space to expand their business, as well as providing valuable employment opportunities for the local economy.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Homes get green light on historic Derby mill site Planning permission has been granted for the £3m conversion of a dilapidated Victorian mill in Derby into 64 apartments. Derby City Council has approved the application for conversion of the former Osmaston Works building, in Osmaston Road, which was formerly home to adult swingers’ club The Attic. Nottingham-based Swish Architecture submitted the planning application on behalf of mill owner ALB Group to fully regenerate the site, creating housing for the area. In addition to the planned 64 one- and two-bed apartments, ALB Group will be refurbishing a two-bed terraced home on the site, incorporating a gym on the ground floor of the three- storey mill building and adding residents’ parking bays. The development, which is expected to be completed by next summer, represents phase one of a two-phase project. The second phase, which is yet to be registered for planning, involves the construction of a stand-alone apartment block of around 40 units with associated parking. PROPERTY NEWS Stage set for Phase II as final unit let at Wymeswold Business Quarter Specialist commercial agents Mather Jamie have completed the letting of the last available unit in Phase I of the Wymeswold Business Quarter development. Having been involved throughout the process from initial site acquisition, sale of all the units and subsequent lettings of these units, the completion of Unit 8 marks full occupation of the successful first phase. Wymeswold Business Quarter is a purpose-built industrial hub designed to cater to modern business requirements. Phase I introduced 20 industrial units offering flexible spaces ranging from 1,900 to 12,000 sq ft. Mather Jamie worked closely with The Prince Group, the owners and developer of the site, guiding the project from its initial planning stages through to completion and marketing. The final letting of Unit 8 to Revive POS signifies full occupancy of Phase I. Attention now shifts to Phase II of Wymeswold Business Quarter. The next phase will feature 20 additional high-specification industrial units, ranging from 2,195 to over 5,000 square feet, with completion targeted for Q4 of 2025. Fraser Hearfield, Commercial Surveyor at Mather Jamie, said: “Wymeswold Business Quarter has provided much needed new build industrial and warehousing units into the local Loughborough Market, and it’s rewarding to see Phase I reach its completion. We are excited to advance into Phase II, providing much-needed commercial space that will continue to support business growth in the region.” Worksop land sale paves way for care home and houses A new care home and 10 houses are set to be built in Worksop following the completion of a land sale. Property consultancy Fisher German has completed the sale of a 3.8-acre site, based to the north of Gateford Toll Bar, to Stancliffe Homes. The development is set to include a 70-bedroom care home as well as 10 residential dwellings of varying sizes to cater for local needs. Fisher German provided the landowner with strategic development advice before acting on the sale of the site. Outline planning permission for the land was granted in December last year, and Fisher German was able to devise a well- structured agreement which reduced the time to complete the sale. Work on the site is now anticipated to commence when the final planning conditions have been agreed. Alex Morrison, of Fisher German, said: “We are delighted to announce the completion of the sale of this site in Worksop. “This development will introduce a much-needed care facility to the area, offering accommodation and creating valuable employment opportunities. Additionally, it will include the construction of 10 high-quality new houses.” Housebuilder Honey has submitted plans to deliver a £78m, 275 new home development on a 41-acre site in Duckmanton. The proposed site, which will be called Pearl, is located on Tom Lane on the outskirts of Duckmanton and is adjacent to the M1. Subject to planning, Pearl will comprise a mix of two-, three-, four- and five-bedroom homes and will include terraces, semi-detached and detached properties. If given the go ahead, work at Pearl is anticipated to start in February with the first residents expected to move into their new homes in spring 2026. The 41-acre site has been allocated for development by Chesterfield Borough Council as part of the Chesterfield local plan to deliver 4,080 homes by 2035. Since being launched in October 2022, Honey has secured 19 sites across Yorkshire and the East Midlands that will deliver 2,349 homes and a combined gross development value of £665m. The housebuilder is backed by private equity firm Alchemy Partners and its Alchemy Special Opportunities Fund IV which has £937m of fully committed capital. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Housebuilder submits plans to deliver £78m new home development in Duckmanton Alex Morrison East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY T he East Midlands continues to show its worth as a prime location for industrial and logistics property, with work starting and completing on new units, plans being submitted, and lettings being made. Considering the industrial market, figures from the Savills Big Shed Briefing indicate that in 2023, take-up reached 8.12m sq ft across 26 transactions (a 33% increase above the long-term annual average), while in the first half of 2024, occupier activity rebounded further still, with take-up reaching 5.02m sq ft across eleven transactions (87% up on the long-term H1 average). As occupiers continue to choose the region’s Golden Triangle as their preferred location, Business Link reflects on recent deals and developments. A golden market Hosting the Golden Triangle for logistics, the East Midlands continues to be sought after by investors and occupiers. A golden market www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY Indurent, a developer and operator of industrial and logistics space, and PLP, the specialist industrial and logistics developer, have submitted a detailed planning application to North West Leicestershire District Council for the development of a Grade A 644,000 sq ft logistics facility. The East Midlands site spans 38 acres and is located adjacent to Junction 24A of the M1 motorway, providing direct access to 85% of the UK population within a 4-hour drive time. The proposed development, designed by Michael Sparks Associates, will be delivered speculatively and is targeted for completion in Q1 2026. The building has been carefully designed to meet the flexible needs of large-scale logistics and industrial occupiers, who face a national shortage of well-connected buildings in the 600,000 sq ft size range. Jake Shilston, Development Director, Indurent, said: “Our proposal for this site will provide businesses with a state-of-the-art logistics facility in a prime location in the Golden Triangle, with easy access to customers across the UK and Europe. We are confident this development will boost economic growth by creating employment opportunities for local residents and businesses in North West Leicestershire and the East Midlands.” Further along in the development process, McLaren Construction (Midlands and North) has started works at the first UK industrial scheme in the East Midlands for a joint venture with Garbe Industrial Real Estate GmbH and Invesco Real Estate. McLaren will oversee all aspects of construction for the £30 million project located in Shireoaks, Worksop, including associated access roads and landscaping features. With a 45-week completion target, works will include the design and build of two new industrial units totalling approximately 550,000 sq ft across 28.9 acres, alongside the construction of S38 works, and a private access road that will form the main access into the site and adjacent plot. Gary Cramp, Managing Director of McLaren Construction (Midlands and North), said: “We are honoured to be working alongside Garbe and Invesco Real Estate as part of a joint venture for the first industrial and logistics scheme in the UK – contributing to the expansion of the companies’ UK and European logistics portfolio. Bringing our experience delivering exceptional quality sustainable industrial and logistics builds, and with the prime 18 Á Indurent and PLP’s plans for a Grade A 644,000 sq ft logistics facility East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Midlands location of the site, the scheme is well positioned to support the operational growth needs of businesses across a variety of sectors.” Meanwhile, independent property company, Hortons, has secured planning consent for the redevelopment of a vacant warehouse unit at Saxon Park off Saxon Way West, in Corby. The project will deliver more than 200,000 sq ft of premium warehouse/logistics accommodation. Hortons will extensively redevelop a single existing building to create two new units, known as Saxon 79 and Saxon 129, which will comprise 78,500 sq ft and 129,300 sq ft respectively. The new units will include secure yard space, integral first floor offices and a power supply of up to 1 MVA, with the ability to increase capacity. Hortons acquired Saxon Park in 2023 and has since completed the comprehensive upgrade of Saxon 58, a 58,350 sq ft warehouse/logistics unit, McLaren Construction (Midlands and North) has started works at the first UK industrial scheme in the East Midlands for a joint venture with Garbe Industrial Real Estate GmbH and Invesco Real Estate DC2 at Prologis Park Pinehamwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY which was pre-let to Russell & Bromley. Saxon 79 and Saxon 129 are expected to be available for occupation from Q3 2025. James Slater of Hortons said: “We are investing in a full scale redevelopment programme to create two new high specification warehouse/logistics units, offering enhanced power and sustainability. The project is one of a series of developments we are undertaking at Saxon Park. It will provide occupiers with grade A accommodation in an established and sought after industrial location.” Moreover, in a key deal for the region, Prologis UK, an investor, owner and developer of logistics property, has secured a new lease with Pro Tiler Tools, part of Topps Group, a supplier of tiles and tiling equipment, for DC2 at Prologis Park Pineham, in Northampton, bringing the park to full occupancy. Following a comprehensive refurbishment, the nationwide brand has signed a 15-year lease to use the unit as a base for future growth plans. The refurbishment was designed with sustainability and operational efficiency in mind, raising the 138,192 sq ft distribution centre to an EPC A rating. The finished space features LED lighting, a fully-electric office, EV parking, rainwater harvesting whilst the roof is already futureproofed for solar PV. Ash Patel, Head of Property at Topps Tiles, said: “Finding the right partner and location was key when looking to expand our operations, and Prologis and their Pineham Park was just that. Being close to our existing operation for our staff, whilst also having the prime distribution location by J15A M1 perfectly meets our logistical and operational needs.” These represent just a handful of recent developments in the East Midlands, with its reputation for industrial and logistics property continuing to attract occupiers and investors to the Golden Triangle.Next >