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Global recruitment consultancy takes newly refurbished office in Nottingham city centre

Tess Egginton
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Global recruitment consultancy takes newly refurbished office in Nottingham city centre

Clearbell UK Strategic Trust (CST or Clearbell), a Trust advised by Clearbell Capital, has agreed a new lease at 55 Maid Marian Way, Nottingham, to global recruitment consultancy, Metric Search, following a significant refurbishment project at the property.  

Located in the heart of the city centre, the office, totalling over 14,600 sq ft across five floors, has seen its communal areas transformed with new feature walls, floor coverings, lighting and external works.   

As part of the project, the c. 3,000 sq ft third floor suite was also completely refurbished to a CAT A standard and steps taken to improve energy efficiency, including the introduction of LED lighting and electric heating throughout resulting in an EPC B rating.   

Dovetailing with the refurbishment, the floor has been let to Metric Search on a five-year agreement. The speciality search recruitment business, founded in New York in 2019, works across the life sciences, MedTech, infrastructure and engineering sectors from its offices across the US and UK.  

Other occupiers at the property include wealth management platform, FNZ UK third-party capital advisors, and ALM.     

Rhys Jones, asset manager at Clearbell Capital, said: “Our refurbishment project at Maid Marian Way has completely transformed the property and the experience of our customers there, which is the driving force behind our active asset management programme across our portfolio.    

“And, it has supported us in welcoming Metric Search to the building’s community; a fast-growing and ambitious business who we have no doubt will thrive in this new space. We look forward to working with them over the coming months on this next phase of their journey.”  

Zac Flint, finance director at Metric Search, said: “Although we have offices all over the world, Nottingham is our home, so we needed an office that reflected the importance of this location to us.

“Having the opportunity to move into a newly refurbished building, that is also in such close proximity to the city centre, meant that Maid Marian Way was an obvious choice for us.   

“We are looking forward to moving in in the next few weeks and starting the next chapter of our journey in the city.” 

Clearbell Capital was supported on the refurbishment by Reynolds Associate and Interiora Projects, while FHP advised on the letting to Metric Search.  

The Access Group appoints new Chief Information Officer

Tess Egginton
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The Access Group appoints new Chief Information Officer

The Access Group, a Loughborough-headquartered provider of business management software to mid-market organisations in the UK, Ireland, US and Asia Pacific, has appointed Conor Whelan in a new role as Group Chief Information Officer (GCIO). 

The appointment will further support The Access Group’s growth objectives, enhance customer experiences, and boost employee productivity.

In his new role, Conor will be responsible for strategically managing The Access Group’s technological resources and will help drive both organic and inorganic growth. He will also focus on delivering operational excellence across The Access Group and in its regions to further enhance efficiency and agility.  
 

Before joining The Access Group, Conor held the UK Chief Operations Officer & Chief Information Officer role at Experian. Conor has a track record in leading businesses through technology transformation.

Before joining Experian, Conor was the Group CIO at Jardine Lloyd Thompson, a global insurance broker, from 2015 to 2019. There, he created a global technology function that drove cost savings and improved operational resilience.
 

In 2021 and 2023, Conor was recognised in the Global UK Top 100 CIOs, listed in the Top 10 in 2023. In 2022, he was awarded Male Advocate of the Year by the Great British Businesswoman Awards. He was also recognised as one of the most influential people in technology by Computer Weekly in 2018. 

Conor said: “I am delighted to be joining The Access Group. Its fabulous track record, entrepreneurial style and global growth ambitions were the deciding factors in my move. I cannot wait to learn more about The Access Group and its culture, to meet my new colleagues and to help deliver its strategic goals.”

The Access Group CEO, Chris Bayne welcomed Conor into the business: “I look forward to working with Conor, who brings a wealth of expertise and specialist knowledge to the business. Conor is joining The Access Group at an exciting time, and I am confident that his skillset will support us as we continue our growth journey.”

Ibstock battles challenging trading conditions as sales volumes sit below expectations

Tess Egginton
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Ibstock battles challenging trading conditions as sales volumes sit below expectations

First quarter sales volumes are below expectations at Ibstock, the building products manufacturer, amidst a challenging trading environment.

In a new update for the first quarter of 2024 the firm noted: “Trading conditions in the first quarter remained challenging, with activity levels across residential construction markets remaining subdued during the period.

“As a result, sales volumes were below our expectations, with weaker end market demand in part reflecting the exceptionally wet weather experienced across the UK during the early months of the year.”

Despite weaker volumes, Ibstock said a strong performance across its cost reduction actions, commercial discipline and operational execution enabled the group to deliver adjusted EBITDA in line with expectations.

The company added: “We are encouraged by recent lead indicators which suggest some improvement in future demand, and it will be important to see how this translates into activity during the spring season.

“We remain focussed on costs and operational performance during this period of market volatility but continue to expect volumes to improve as the year progresses, with our expectations for full year adjusted EBITDA remaining unchanged.”

Major capital projects are on track at Ibstock, with commissioning of the new Atlas factory and the first phase of the brick slip systems investment in Nostell progressing well.

Joe Hudson, CEO of Ibstock PLC, said: “Trading conditions remained challenging in the first quarter. Against this background, adjusted EBITDA for the period was in line with our expectations, supported by our disciplined action on costs and strong operational execution.

“While we expect market demand to remain subdued in the near term, lead indicators reflect an increase in housing market activity, which offers encouragement for an improvement in volumes in due course. 

“Our medium-term prospects remain strong, underpinned by our robust balance sheet, well invested manufacturing network and leading market positions. We have the capability to take advantage of opportunities against the current subdued backdrop, and the business is well placed to achieve strong, profitable growth as our markets recover.”

National Gas boosts design engineering expertise with acquisition of Leicestershire firm

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National Gas boosts design engineering expertise with acquisition of Leicestershire firm
National Gas is boosting its design engineering capability by acquiring Leicestershire’s Premtech Ltd. Premtech, founded in 2010 and based in Ashby-de-la-Zouch, has 50 full-time staff – mostly engineers and designers – who will all be taken on as part of the acquisition. Premtech will remain completely independent from the regulated business of National Gas Transmission, and will continue to operate its own offices, IT and People systems, hiring processes, and benefits.
Jon Butterworth, CEO of National Gas, said: “Premtech is a highly respected and successful company that’s renowned for its expertise in engineering consultancy and design in the energy sector and we’re extremely proud to become their new owners. “We’ve forged a strong relationship with Premtech over many years; as a result, it has an in-depth knowledge of our business and how we work. “This transaction brings important design capability in-house, enabling us to better deliver on our capital expenditure plan as well as support our future work in the vanguard of developing hydrogen, carbon capture and storage, and a wide range of digital and innovation projects.”

Nottingham College secures £2.6m to fund decarbonisation initiatives

Tess Egginton
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Nottingham College secures £2.6m to fund decarbonisation initiatives
Nottingham College has been awarded a grant of over £2.6m, in a successful bid to fund decarbonisation and energy efficiency initiatives across its estate over the next two years.
The funding is from the Phase 3c of the Department for Energy Security and Net Zero’s Public Sector Decarbonisation Scheme, which is run by Salix. £2m will fund decarbonising work within the Adams Building in the Lace Market, and £660k is allocated towards Highfields, part of Nottingham Science Park. The college will use this funding to make important upgrades to the two campuses’ heating, ventilation systems and lighting, as well as to replace boilers, improve insulation and introduce other new measures to reduce water usage and reliance on other consumables. Nottingham College has pledged to become carbon neutral by 2030 as part of its ​‘Zero’ campaign, with this £2.6m project just one of the many initiatives designed to hit this target. Work will commence on the Adams project in autumn 2024 and take two years to complete the planned improvements, whilst the Highfields project works will begin in 2025 and are scheduled to last for one year, completed in 2026. The projects will play a vital role in bringing down the college’s overall carbon footprint over the next six years, and will further improve the study environment for students in both Adams and Highfields once complete. Janet Smith, Chief Executive and principal of Nottingham College, said: “We are really pleased to have been successful in our bid for this funding. As a college with a rich heritage and wide range of facilities across the city, this funding will help us on our journey to be carbon net zero by 2030. “The College’s Zero campaign has seen us make great strides over the past 12 months with a 30% reduction in our carbon footprint so far – but we know there is more to do.
“As an education and employment leader in our city we have a significant part to play in reducing the college’s impact on the environment. To highlight our commitment to this, sustainability is one of the key pillars of our new five-year strategy. “Nottingham is a city that is taking climate change seriously with the city aiming to be the first UK net zero city through the city council’s CN28 project. As such, funding like this is going to make an excellent contribution to that objective.”
Director of programmes at Salix, Ian Rodger, said: “Nottingham College has an ambitious carbon reduction strategy, and we are looking forward to supporting them to deliver this important Public Sector Decarbonisation Scheme project.”

Graduate talent to support businesses in 2024 internship scheme

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Graduate talent to support businesses in 2024 internship scheme
The Graduate Internship Scheme offers employers across the UK the opportunity to host a Nottingham Trent University (NTU) graduate for a fully funded internship. For six weeks, NTU will cover the salary whilst businesses access new ideas, extra resource, and provide invaluable experience to NTU graduates from the Class of 2023.   Last year’s scheme was incredibly successful with over 295 internships taking place, and 94% of employers indicating they would take part in the scheme again. Salman Shaik – graduate employed by Mocean, said: “To businesses contemplating participation in the Graduate Internship Scheme, I would emphasise the mutually beneficial nature of the programme. By engaging with talented graduates, businesses can infuse fresh perspectives and innovative thinking into their operations while also nurturing a pipeline of potential future hires.” The Graduate Internship Scheme is open to organisations of any size or sector, offering a foundation for all businesses to build a sustainable recruitment pipeline. Taking part is a cost-effective way to explore how early careers talent can fit into an organisation. Many previous participants have used the scheme to explore how a graduate role can be embedded into their business, before extending the internship with the help of the NTU Employability team.  “Without Salman’s knowledge and skills, we wouldn’t have been able to complete the project… Salman played a vital role in the delivery of the project, and we soon realised that we needed to extend his time at Mocean,” said Siena Taylor, Events and Marketing Manager – Mocean – 2023 Graduate Internship Scheme employer. New for 2024 This year the Graduate Internship Scheme will run for six weeks, from Tuesday 13 August 2024. Graduates will be contracted to work 30 hours per week (working Tuesday to Friday), and their salary will be fully funded by NTU for this duration. Ahead of the internship, graduates will have completed an academy of professional and personal development workshops, equipping them with transferrable skills and demonstrating their commitment to accelerate their career development. Additionally this year, businesses in Nottingham City and Ashfield may be eligible for financial support to extend their internships. Get involved To learn more about the Graduate Internship Scheme contact Grad.Internship@ntu.ac.uk

Ofgem called upon to take action on standing charges paid by small firms

Tess Egginton
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Ofgem called upon to take action on standing charges paid by small firms
The Federation of Small Businesses (FSB) has called for the energy regulator Ofgem to take action on the standing charges paid by small businesses, many of whom have seen the daily fixed price they pay, regardless of usage levels, soar over recent months.
FSB has written to Ofgem’s Chief Executive Jonathan Brearley to draw his attention to the issue, and to recognise the “specific, negative impact standing charges are having on small firms,” the letter says. FSB’s correspondence follows on from a letter to Ofgem regarding standing charges from the Energy Secretary, Claire Coutinho MP, and the Minister for Affordability and Skills, Amanda Solloway MP, sent at the end of March, which highlighted that the Ministers wish to “ensure that bills are fair and affordable for all consumers.” The points raised by the Ministers’ letter about potential harms to energy customers apply to small businesses as well as households. FSB is asking Ofgem to investigate the impact of high standing charges for small business customers, with the issue made more pressing by the economic challenges small firms are facing at the moment. One small firm whose owner got in touch with FSB reported an increase in the business’s daily standing charge from 70.94p per day in July 2021 to 969.64p per day in September 2023 – over 13 times higher. Small businesses based in rural areas have been disproportionately affected by standing charge increases, which exacerbates the existing rural-urban divide and “[undermines] efforts to level up more remote parts of the UK,” FSB’s letter says. Standing charges are used to fund network infrastructure, operating costs, and policy costs for schemes such as the Warm Home Discount, but this can be difficult for small firms to comprehend. Business customers are not covered by the energy price cap for consumers and many small firms suspect that their costs have been hiked as a result. The Ministers’ letter makes the point that “the growing number of energy users striving to consume energy more efficiently and help towards achieving net zero see standing charges as a disincentive to doing so.” This is highly pertinent to small businesses, the majority of whom are keen to play their part in reducing carbon emissions, and underlines the need for greater transparency around what standing charges are actually used to fund. Ofgem has asked for views on standing charges via a Call for Input, to which FSB has responded. The cost of utilities continues to be cited as a major driver of increased costs for small businesses, with three in five small businesses (62.5%) reporting this in FSB’s Small Business Index for Q4 2023. FSB’s Policy Chair, Tina McKenzie, said: “We want Ofgem to do a thorough review of standing charges for businesses as well as consumers, for better transparency and to discern whether energy companies are behaving fairly towards their small firm clients. “Small business energy customers behave in a way more akin to consumers than big businesses, lacking the resources, the expertise and the buying power necessary to get the best possible deal out of their energy suppliers. However, they do not benefit from anything like the same level of protection as that rightly available to households, leaving them caught between two stools. “Many small businesses could be forgiven for suspecting that they have been seen as something of a soft target for price hikes in their standing charges, and they do not have a full picture of where the money they pay on a daily basis is going – something that needs to change. “Small firms were put through the wringer by the energy price crisis, which sadly spelled the end for many otherwise viable businesses who saw their utility bills become completely unmanageable. “The price increases which led to the crisis have thankfully eased off to an extent, but many thousands of small firms are now stuck on tariffs which are far higher than before, which is a leading driver of cost increases. “While it’s possible for most firms to cut their energy use – something which many did in response to spiralling bills – the standing charge must be paid day in, day out, so ensuring that small firms aren’t being fleeced is absolutely vital. “We’re very keen to hear what Ofgem’s next steps in this area will be, to ensure that small firms pay standing charges that are fair and transparent, no matter where they’re based.”

Tax take rises by almost 5% to £827.7bn in 23-24

Tess Egginton
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Tax take rises by almost 5% to £827.7bn in 23-24
New provisional figures show that the tax collected by HMRC in 23-24 reached £827.7bn, almost 5% higher than the previous year. The combined effects of inflation and fiscal drag contributed to income tax, CGT and national insurance contributions rising by £23.7bn during the year to a total of £466.5bn, a 5.4% rise over the previous year. Income tax receipts jumped 10% year-on-year to reach £273.3bn in 2023/24. PAYE income tax receipts grew by 11.4% year-on-year while receipts from income tax collected via self-assessment declined slightly by 1% year-on-year. However, employee NICs fell during the year to £60.9bn from £65bn last year, a decline of 6%. This reflects the cuts introduced in November 2022, as well the further reduction in January 2024. Business taxes and VAT also rose by £10.3bn and £9.5bn respectively, with corporation tax receipts rising by 11.6% year-on-year, reflecting the rise in the main rate of corporation tax which increased to 25% on 1 April 2023. The highest increases in percentage terms came from air passenger duty which rose 21% to £3.8bn during the year to the end of March. This reflects changes to the APD duty rate structure introduced in April 2023 and the continued bounceback in air travel following the pandemic. The most significant decline was in stamp taxes which reduced by 22% year-on-year. Stamp Duty Land Tax receipts dropped by 24% to £11.6bn in 23-24. Inheritance tax receipts rose by 5.8% year-on-year to £7.5bn. IHT receipts have risen steadily since 2019-20 when IHT pulled in £5.1bn. Paul Falvey, a tax partner from accountancy and business advisory firm BDO, said: “The combined effects of inflation and fiscal drag have played a role in driving up income tax receipts. It’s notable that the rise in receipts has been through PAYE rather than self assessment where receipts actually declined slightly this year. “This suggests that middle earning employees have borne much of the impact from the freezing of tax thresholds. It may also reflect a small decline in self employment during the period, possibly stemming from IR35 rules which have encouraged employers to put freelancers onto the payroll. “The decline in Stamp Duty Land Tax receipts during the year indicate the impact of comparatively high interest rates and the resulting decline in home buying by around 17%. Housing transactions in each quarter of 23-24 were down on the previous year. There are some suggestions of further cuts to Stamp Duty before the general election which will be of particular interest to first time buyers. “Fiscal drag and rising asset values have also played a role in the increase in IHT that we saw during the year. Many families will be exploring options to pass on wealth outside the IHT net.”

Manufacturing sentiment improves

Tess Egginton
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Manufacturing sentiment improves
Sentiment within the manufacturing sector improved in April and output expectations were the strongest for six months, according to the CBI’s latest quarterly Industrial Trends Survey. Output volumes were broadly stable in the three months to April, following strong declines in output over the first quarter of 2024. Manufacturers expect output to rise over the next three months, with expectations the strongest since October 2023. Average cost growth remained elevated compared to historical norms, with costs also expected to increase at a strong pace in the quarter to July. Domestic and export price inflation are expected to pick up slightly in the next three months. With demand uncertainty falling back, and concerns over the cost of financing diminishing, investment intentions for the year ahead improved relative to January. Manufacturers expect investment in buildings and plant & machinery to be stable over the year ahead, which marks a shift from the picture in January, when investment intentions sank to their weakest for three years. Moreover, spending on product & process innovation is now expected to increase over the year ahead. Anna Leach, CBI Deputy Chief Economist, said: “Conditions facing manufacturers have taken a turn for the better, with sentiment improving and expectations for future output growth their strongest in six months. “A softer labour market has eased concerns that skills and labour could constrain output and orders. Concerns about access to materials and components are also at their lowest since January 2020. These brighter conditions are supporting a more stable picture for investment over the year ahead. “With the recovery still to fully pick up steam, we need to see everyone laser focused on delivering the big reforms that will help manufacturers grow and invest. Full capital expensing, with the potential to extend this to leased and rented assets, can be a game changer that unlocks the incredible power of our manufacturing sector and drives economic growth.” The survey, based on the responses of 257 manufacturing firms, found:
  • Business sentiment rose in the quarter to April, having been broadly unchanged in the three months to January (balance of +9%, from -3% in January). Export optimism for the year ahead also rose moderately (+6%, from -20%). Both sentiment indicators had shown declining optimism in all but one quarter throughout 2022-23.
  • Output volumes were broadly unchanged in the quarter to April, after falling in March (balance of +3%, from -10% in the three months to March). Firms expect volumes to grow in the next three months (+11%).
  • Total new orders fell in April, but at a slower pace than in the previous quarter (balance of -6%, from -13% in January). Manufacturers expect orders to return to growth over the next three months (+8%).
  • Growth in average costs per unit of output rose strongly but at a slightly slower pace in the quarter to April (balance of +39%, from +43% in January; long run average of +18%). Cost growth is expected to remain elevated in the quarter to July (+42%).
  • Domestic selling prices increased over the three months to April (+10%, from +2% in January). Export price inflation decelerated from January (+9% from +14%, and now the weakest since January 2021). Both domestic and export price growth is expected to pick up in the next three months (+27% and +22%, respectively).
  • Investment intentions for the year ahead improved relative to January. Manufacturers expect to raise investment in product & process innovation (+15% from -5% in January, the strongest since the quarter to January 2022). Investment in training & retraining is expected to be broadly unchanged (+1% from +6%). Investment in tangibles is expected to be unchanged, including buildings (-3% from -29%) and plant & machinery (+2% from -15%), with the balances having recovered from three-year lows in January.
  • The main constraint on investment was uncertainty about demand (cited by 49% of manufacturers), followed by inadequate net return (36%), and a shortage of labour (+15%, the lowest in three years). Concerns around the cost of finance have retreated from a 33-year high (excluding the pandemic period) but remain double the long run average (11% from 22%).

Purpose Media to support major children’s charity

Tess Egginton
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Purpose Media to support major children’s charity
Marketing agency Purpose Media is supporting a charity which transforms the lives of thousands of disabled and disadvantaged young people in the UK. Variety, the Children’s Charity, has raised more than £300 million since it was established in 1949, providing practical assistance through wheelchair and specialist equipment grants, experiences on their Variety Great Days Out, fully accessible transport for schools in the form of their famous Sunshine Coaches, and work experience on their new Access Interns programme. Last year alone it came to the aid of more than 160,000 youngsters, with 143 wheelchair and equipment grants, 38 Sunshine Coaches and 31 Variety Great Days Out, where children could build confidence and make memories. Now digital marketing agency Purpose Media, based in South Normanton, Derbyshire, has teamed up with the charity as a media partner, helping it deliver two high-profile events aimed at raising significant funding to further the organisation’s work. The agency will provide video services for The Midlands PROPS Awards in Birmingham next month (May 2024) and The North West PROPS Awards in Manchester in October – both honouring outstanding achievements in the property industry. Purpose Media Head of Video Alistair Bullock said his team was delighted to be using its expertise to assist such a worthwhile cause. “These stunning events are already highlights of the UK charity calendar and have raised incredible sums,” he said. “We aim to further amplify that success and encourage even more people to support the work of this brilliant charity.” Purpose staff will produce video packages showcasing award sponsors and nominees to be shown during each event and will record interviews with winners, as well as compiling highlight reels. “Video is a great medium for helping audiences connect emotionally with a subject and will be the perfect vehicle to communicate the profound difference Variety makes to the lives of the people it works with,” Alistair added. Lyn Staunton, Variety’s Development Director, said Purpose Media’s expertise would help the charity develop an even wider reach, enabling it to assist even more disabled and disadvantaged children. “We want to give even more children the specialist equipment they need to transform their lives and to access experiences that otherwise they might never have,” she said. “This is our 75th anniversary and the year is going to be a big one. To have a company as well established and respected as Purpose Media on board is incredible and will really help further our ambitions.”
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