Acquisition to see former Nottingham restaurant become student scheme
National developer Taj Ubhi, CEO of 9 Property Group, has teamed up with commercial real estate buyer Emmanuel Agalamanyi, MBA, of BlackBridge Property Partners to acquire the former well-known Antibo Restaurant in Nottingham City Centre.
The building’s acquisition, led by Emmanuel Agalamanyi, is set to see it transformed as 9 Property Group begins work on the site, to develop 51 modern student living spaces.
Bought out of receivership, the purchase marks the partnership’s first pipeline of acquisitions set to take place over the coming months, which is currently in legal, as similar distressed sites throughout the country have been placed on the market.
The neglected building will be given a new chapter, providing a central location for students to call home, but still maintaining much of the building’s historic architecture.
The project is designed by ARC Design Studio.
Principal developer and CEO Taj Ubhi has a strong track record in delivering PBSA schemes and is a well-known client of finance provider Assetz Capital.
Emmanuel Agalamanyi said: “Our growing equity fund has placed us in a very strong position to acquire similar buildings and ground-up developments to cater for the student and private rental sector. We are aggressively seeking more opportunities.”
Rolls-Royce SMR signs £1.2m contract for power station simulator
Rolls-Royce SMR has signed a £1.2million contract with GSE Solutions to develop a power station simulator, as it continues to mature the design of its Small Modular Reactor technology and remains on track to complete Step 2 of the Generic Design Assessment this summer.
GSE Solutions is a world leader in advanced engineering and workforce solutions across the clean-energy and power industries. This simulator will play a key role in Rolls-Royce SMR’s programme to develop, verify and validate the performance and control systems of its unique ‘factory-built’ nuclear power plant. It forms part of a much wider programme of development activities that are focussed on ensuring the ‘delivery-certain’ nature of the plant.
David Dodd, Rolls-Royce SMR Engineering Director, said: “Commissioning a simulation and test platform is another stride towards deploying the first Rolls-Royce SMR power plant. The work with GSE is part of our ‘digital-first’ methodology and our truly modular approach to developing new nuclear power – a reliable source of clean, affordable energy for the UK and the rest of the world.”
In a recent update, the Office for Nuclear Regulation confirmed that Rolls-Royce SMR is on track to complete Step 2 of Generic Design Assessment this summer – with the intention of moving straight into the third and final step. This progress through the assessment by the nuclear industry’s independent regulators (the ONR, Environment Agency and Natural Resources Wales) confirms Rolls-Royce SMR’s position as being significantly ahead of any other SMR design in Europe.
Specsavers invests further in Nottingham office space
Specsavers has submitted plans to improve its office offering in Nottingham, to make its workspaces as “inspiring and collaborative as possible.”
A design statement submitted by HSSP Architects Ltd on behalf of the business indicates that Specsavers has recently invested in additional office space adjacent to its 40,000 sq ft premises, Cirrus House. The new premises, known as The Arc, provides an additional 44,600 sq ft of space, supporting Specsavers’ growth ambitions.
Specsavers is in the process of carrying out a full upgrade and refurbishment programme across both buildings on Experian Way which “will create a new and inspiring workplace” for its support office colleagues. To support this, plans have been lodged to connect the two buildings to create a seamless transition between them.
The single-storey link between Cirrus House and The Arc will act as a flexible workspace, as well as allowing free flow access between the two buildings at ground floor level.
Specsavers asked HSSP Architects to develop the proposals for the link. Blueprint Interiors are acting as lead design consultants on the project.
A design statement said: “Nottingham continues to be a strategically important central hub for the Specsavers Group and will play a key role in its future growth plans.”
Wellbeing toolkit created to support West Northamptonshire workplaces
Employers of any size across West Northamptonshire can now access a wellbeing toolkit designed to provide practical guidance on how to enhance wellbeing in the workplace and improve business outcomes.
Research shows that a good workplace wellbeing programme can have a positive impact on employee happiness and engagement, increase productivity and improve customer service and business outcomes.
The toolkit aims to encourage businesses to adopt an insight and data led approach to workplace wellbeing, improving the health and wellbeing of their employees and subsequently their business performance.
West Northamptonshire Council has launched the free to use, self-service Workplace Wellbeing Toolkit that is available to all businesses across the area.
It offers a step-by-step guide to workplace wellbeing, providing an overview of what wellbeing is, how businesses can invest in it, how they can use existing data to enhance their wellbeing programmes. It helps employers to create an action plan across a wide range of wellbeing topics to support the specific needs of their employees.
Cllr Matt Golby, Deputy Leader of the Council and Cabinet Member for Adult Care, Public Health and Regulatory Services, said: “We are pleased to be able to launch our workplace wellbeing toolkit which aims to support businesses with enhancing their employee wellbeing offer. It has been developed by our public health specialists in partnership with existing businesses to ensure that it meets the needs of businesses and their employees.
“We will be continuing to develop the toolkit over the coming months and years based on the feedback from local businesses.”
Fusion energy project appoints three new non-exec directors
UK Industrial Fusion Solutions Ltd has appointed three new non-exec directors to support of the delivery of the UK’s prototype fusion energy plant.
Kaveh Pourteymour, Julie Nerney and Dr Luc Bardin will be part of STEP, the Spherical Tokamak for Energy Production, to be built at the former West Burton Power Station kn Nottinghamshire, which aims to demonstrate net energy from fusion alongside paving the way for the commercialisation of fusion energy.
These strategic appointments follow the launch of a multi-stage competition to find industry partners – one in engineering and one in construction – to form a public-private alliance led by UK Industrial Fusion Solutions Ltd, a wholly owned subsidiary of UK Atomic Energy Authority Group, to deliver STEP.
Professor David Gann, Chair of UK Industrial Fusion Solutions, said: “We are delighted to welcome Kaveh, Julie and Luc to our Board, together with Charlotte Valeur and our other executive and non-exec members. Their strategic insights will be invaluable as we navigate the delivery of a new technology to ensure the UK remains at the forefront of an emerging industry.”
Kaveh is currently Managing Director – Head of Business Partnering and Projects for global mining group, Rio Tinto, and joins the UKIFS Board as a digital transformation leader with over 30 years’ experience spanning energy, utilities and manufacturing in addition to complex systems engineering and digital modelling. Throughout his career, Kaveh has successfully implemented cutting edge solutions to enhance business performance delivered through operating models that incorporated diversity and inclusion at their heart.
Julie has been delivering impactful and sustainable change in organisations for over 30 years in roles that span c-suite and board level, experiencing every stage of the organisational life cycle. She has delivered high profile and complex programmes, including a leadership role in the transport operation for the London 2012 Olympic and Paralympic Games and was appointed as a Non-Executive Director of the Supreme Court in February 2023.
A current Non-Executive Director on the UKAEA Group Board, Dr Luc Bardin joins for a shorter period to help with the transition from UKAEA to UKIFS, where his world renowned expertise in organisational development and strategic partnering will be of immense value.
The UKIFS Board will also be joined by Jamie Stapleton as Board Advisor. Jamie is currently VP Digital Innovation & Synergies at Hitachi Energy.
The new appointments join fellow independent Non-Executive Director, Charlotte Valeur, an Investment Banker and experienced FTSE Chair and Non-Executive Director. Her long board-level experience spans a host of sectors and industries and covers IPOs, mergers and acquisitions, and restructuring. She is a recognised international authority and professor in corporate governance and leadership, and author of ‘Effective Directors, Questions to Ask’.
UKIFS will be responsible for the delivery of STEP from later this year. The programme aims to create future opportunities for suppliers ranging from whole plant integrators to critical system manufacturers that can design and deliver future plants worldwide in addition to benefitting the communities that surround West Burton.
The fusion process can be thought of as the opposite of fission – combining lighter atoms rather than splitting heavier ones. It is based on the same processes that power the Sun and stars and has potential to provide safe, sustainable and low-carbon energy for generations to come.
Derby-based automotive aftermarket group sold
Derby-based ASG Group, an automotive aftermarket group, has been sold to Pendine Group, backed by Beach Equity Investors, in a deal managed by PKF Smith Cooper Corporate Finance.
ASG Group specialises in design, development, engineering and manufacturing of aftermarket vehicle accessories, which it supplies to global OEMs, trade customers and direct to the consumer under its brand Travall.
In addition to the B2C customer base, the Group continues to attract major clients from the automotive and industrial sector.
ASG’s trading roots go back to the 1950s when it was known as Alan Smith Garages. Retiring Chairman Peter Allman acquired Alan Smith Garages in 1987, renamed it ASG and began developing a comprehensive portfolio of automotive accessories, culminating in the business that appealed to Pendine.
The deal followed a decision by principal shareholders, who are now in their mid-80s, to secure their retirement plans and crystalise their investment in the Group.
PKF Smith Cooper Corporate Finance was appointed to provide pre-sale strategic advice on preparing the business for sale, identify buyers and project-manage the deal from inception to completion.
The sell-side advisory team was led by David Crump, Corporate Finance Director at PKF Smith Cooper, while Geldards provided legal advice.
David Crump said: “It’s been a privilege to work with the Allman family, and very rewarding to complete this transaction to help them achieve their objectives. We have also enjoyed working with Tom and the Beach Equity team to deliver a great deal for both the buyer and sellers and we look forward to seeing the ASG Group flourish under new ownership.”
Geldards Corporate Partner Debra Martin added: “Geldards were pleased to advise ASG Group on the sale of the business and provide guidance through this important next chapter in their journey which safeguards the growth of the Group for future years.”
Bruce Allman, who will continue in his role as ASG’s Managing Director, said: “Together with PKF Smith Cooper, we searched long and hard to find suitable new owners and believe we have made the correct decision to ensure stability and the continued success of the Group, as well as set it up for long term growth.
“I look forward to seeing ASG Group’s ongoing success as it continues to supply market-leading products to the automotive aftermarket with the same dedication to innovative engineering and high-quality British manufacturing as it always has.”
Tom Billings, Managing Partner of Beach Equity, said: “ASG will make a great addition to the Pendine Group. We would like to thank David and PKF for their support enabling a quick and efficient transaction.”
East Midlands manufacturers increased their output by over a fifth in the last decade
Manufacturers in the East Midlands have increased their output by over a fifth in the last decade, reinforcing the critical importance of the sector to the East Midlands economy overall, according to a new report out today.
The Make UK/BDO Annual Regional Manufacturing Outlook report shows that since 2013 output in the region has increased by 21%, while its importance to the region’s economy overall is highlighted by the fact it accounts for more than 15% of the region’s total output, significantly above the national average.
Over a quarter of a million people (258,000) are employed in highly skilled jobs, accounting for 10% of East Midlands employment overall, many of them in high value sectors such as Automotive, Aerospace and Precision Engineering.
Three major sectors account for almost half of East Midlands manufacturing production with the largest being Food and Drink with more than a fifth (20.6%) of industrial output. This is followed by Transport Equipment at 12.7% and then Rubber & Plastics at 12.1%.
In 2023 the East Midlands accounted for 7% of the UK’s total goods exports with the EU being the dominant destination (45%), but one of the lowest dependencies across the UK. This is followed by Asia & Oceania for more than a quarter of exports (28%), making the region the biggest exporter to this area of any UK region. The next most important export market is the United States (16%).
Commenting, Chris Corkan, Region Director for Make UK in the Midlands said: “Industry remains critical to the growth of the economy, providing high value, high skill jobs and aiding the process of creating wealth across the UK.
“The new Government has made a welcome bold statement of its intent to tackle the UK’s anaemic growth at national and regional level. It should now back this with a radical, cross government, long-term industrial strategy which has the need to tackle the UK’s skills crisis at its heart.
“This should be allied with the local growth strategies and priorities of each region, including infrastructure and innovation, together with other measures to ensure the UK is now fully open for business.”
Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, added: “The manufacturing sector in the East Midlands has continued to grow over the last decade despite the sector facing multiple external shocks and changing policy priorities in recent years. Manufacturers have shown great resilience in overcoming these challenges.
“There is now an exciting opportunity for the sector to work with the new government on the development of a new long-term industrial strategy. This could unlock vital investment needed across the East Midlands to continue to bolster manufacturing output and skilled employment opportunities which is so important to the regional economy.”
Clowes Developments purchases 31-acre development site in Hucknall, Nottingham
Clowes Developments have purchased a 31-acre site at Harrier Park, Hucknall from Rolls-Royce via their development manager Muse.
The business park has been fully serviced by Muse and has the benefit of planning permission for circa 500,000 sq ft of warehouse/industrial space across six buildings.
The site is located just on the edge of Hucknall being within a 10-minute drive between junction 26 and 27 of the M1 Via the A611. East Midlands Airport, East Midlands Parkway Train Station and the cities of Derby and Nottingham are all accessible within a half an hour drive from the business park. Harrier Park sits outside the Nottingham workplace parking levy.
The site, aptly named Harrier Park, has a wealth of industrial history and a legacy of innovative engineering. The land was formerly used as an aerodrome associated with the development of the famous Rolls-Royce Merlin engine during World War II followed by the world’s first successful vertical take-off in the 1950’s with technology which in turn led to the Harrier ‘Jump Jet’ being developed. Hence the name, Harrier Park.
Sarah Day, Senior Land Manager at Clowes Developments, said: “There are a considerable number of off-market opportunities being presented to Clowes currently, we are running appraisals daily, occasionally we find a site that ticks all our boxes and Harrier Park certainly does that.
“The site has the potential to develop just over 500,000 sq ft of industrial use facilities in a prime location with great connections across the East Midlands. We look forward to working with the local planning authority, Ashfield District Council, to bring forward a business park which will enhance the economy and provide employment opportunities locally.”
Clowes Developments’ purchase of Harrier Park comes less than a week after the group shared the news that they purchased a 35-acre, mixed use site at Pleasley Hill in Mansfield.
James Richards, Development Director at Clowes Developments, will now look to firm up the site’s masterplan with their newly appointed design team. Fisher German represented Clowes on the purchase of the site and together with FHP Property Consultants have been appointed to market the site’s ‘design and build’ opportunities for occupiers to buy or rent premises at Harrier Park.
Work to begin to bring Ollerton Hall back to life as apartments
Newark and Sherwood District Council has confirmed that works are finally set to start at Ollerton Hall.
A set of keys was handed over last week to Severns (Ollerton) Limited who will soon begin work to sympathetically restore and transform the hall into 8 apartments.
The Grade II* listed hall is thought to be around 300 years old and has lain vacant for the past 50. A previous developer’s plans to develop the site into a care home never came to fruition and the site was re-acquired by the District Council in 2016 in order to seek a developer who would do justice to this important building.
An agreement was made with Severns in 2021 that they would formulate and submit respectful plans for the site, maintaining its historic character and architectural features. After being carefully prepared, these were met with unanimous acceptance by members of the District Council’s planning committee last year.
Councillor Paul Peacock, Leader of Newark and Sherwood District Council, said: “It was very important to us that plans for this beautiful place were respectful and protective.
“We’re really reassured that it’s now in the hands of people who have previous experience in doing fantastic work with heritage buildings and I’m looking forward to seeing the building brought back to life in a way that retains its integrity while bringing it up to date in terms of safety and practicality.”
Councillor Lee Brazier, Portfolio Holder for Housing at the District Council, said: “We know that this has been a long time coming and we’re really happy to finally be getting it over the line so that work can begin. As an Ollerton local, this building means a lot to me; it’s the gateway to the town and it’s been so upsetting for all of us to see it go unused.
“It really is wonderful news that this stunning building will be returned to some of its former glory and shown the care and deference it deserves and I know I share your excitement to see Ollerton Hall looking amazing again!”
A heritage consultant was brought in who outlined some important conservation work which will be carried out first and the District Council will retain ownership of the property until this initial work is complete.
This is expected to take around 5 months and the District Council will be appointing a Conservation Clerk of Works who will be conducting regular visits during this time to ensure that the work is being carried out to a satisfactory level.
Grants re-launched for rural North Northamptonshire businesses offering up to £50,000
Grants of £5,000 and £50,000 are now available for rural businesses across North Northamptonshire.
Using monies received from the Rural England Prosperity Fund, North Northamptonshire Council has re-launched a grant scheme to support existing rural businesses, with applications now open.
Following on from earlier rounds of the grant schemes, applications are now being accepted for projects that can start quickly and be delivered in full by 28 February 2025. A particular target for this round is rural diversification, including business diversification and projects which support the visitor economy.
Examples of projects supported in earlier rounds include:
- New Lodge Farm in Bulwick who extended their café and farm shop
- Austin Davis Biologics who have been able to move into a larger, refurbished facility in Islip
- Measures Farm in Hemington who developed a new dog field
- We Don’t Do Ordinary who invested in tourist accommodation at Wallis Mill, Brigstock
