£12.1m loan agreed to finance construction of 47 new homes in the Peak District
The development lender Atelier is to provide a £12.1m loan facility to the Chesterfield-based developer Stancliffe Homes to enable it to build 47 new homes on the southern edge of the Peak District.
The finance will be provided alongside an investment from Housing Growth Partnership, an equity investor that’s part of Lloyds Banking Group and has supported the construction of more than 7,500 new homes across the UK since 2016. It has injected £17.7m of funding into some the Midlands’ most successful housebuilders this year alone.
Stancliffe Homes is a family-run business with a track record of building desirable homes across Derbyshire and Nottinghamshire. Its new development, Bentley Walk, is in the village of Tansley near Matlock.
Bentley Walk will include a full range of home types, including bungalows, semis and detached houses with up to five bedrooms as well as six affordable homes.
In this, its first collaboration with Housing Growth Partnership, Atelier has structured the finance for the scheme to give Stancliffe maximum flexibility and help it to best meet the project’s specific requirements.
The 27-month, 66% LTV ‘peak debt’ facility will enable the developer to complete and sell some of the 47 homes while others are still under construction, boosting its cashflow while also reducing both debt and interest.
George Seabrook, lending manager at Atelier, said: “The combination of Stancliffe Homes and Housing Growth Partnership is a powerful one. Both have an impressive record of delivering attractive, highly saleable homes in this stunning part of the UK.
“That’s why we worked with them to provide a bespoke funding solution that will support the phased construction, completion and sale of the homes in Bentley Walk. Our peak debt facility will enable Stancliffe to run sales of completed units alongside the construction of later phases, providing optimum funding efficiency and keeping down finance costs.”
Sam Jones, director of Stancliffe Homes, said: “We’re delighted that the team at Atelier has chosen to support our latest scheme of high-quality new homes on the edge of the Peak District.
“Their unique approach to development finance for housebuilders has been a breath of fresh air. Having met many of the team throughout the deal process, we are convinced they will be a steadfast and highly supportive partner for us moving forward.”
Mike Murphy, HGP investment director of the Midlands and Wales region, added: “We’re proud to be continuing our partnership with Stancliffe Homes to help deliver their latest scheme in Tansley, which marks HGP’s second investment alongside the highly regarded housebuilder.
“We’re excited to be working with Atelier on our first transaction together, and hope this will be the first of many opportunities for HGP and Atelier to work together in the Midlands and Wales.”
Trading ahead of expectations at Games Workshop
Trading is ahead of expectations at Games Workshop, the miniature wargames manufacturer, according to a new update for the three months to 27 August 2023.
The quarter saw core revenue of around £121 million (2022/23: £106 million) and licensing revenue of around £6 million (2022/23: £3 million). Profit before tax, meanwhile, is estimated to be £57 million (2022/23: £39 million). “This has been driven by healthy growth across all channels,” the Nottingham company said.
It added: “The Board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year.”
Games Workshop’s Board has also declared a dividend of 50 pence per share taking dividends declared so far in 2023/24 to £1.95 per share (2022/23: £1.20 per share) – in line with the business’s policy to distribute truly surplus cash.
BlueSkeye AI wins another national technology award
Nottingham-based AI startup Blueskeye AI, which is developing software to help pregnant women monitor and improve their mental health, has won a national technology award for its work.
The company was named “Best AI Startup,” at a ceremony at the Cog X Festival in London on Tuesday evening, 12 September.
The Award recognises products and people who bring AI to life and who are using technology to provide a revolutionary approach to solve real world problems.
BlueSkeye, a spin-out from the University of Nottingham, uses AI to analyse minute changes to people’s face and voice over time which can reveal the early tell tale signs of depression.
The technology has developed from 18 years of research by founding CEO professor Michel Valstar. The technology has been used by 250,000 mums so far and the company runs clinical trials with Nottinghamshire NHS Trusts.
Collecting the award for BlueSkeye AI professor Valstar said: “We’re absolutely thrilled and delighted for BlueSkeye AI to be recognised for its innovative use of machine learning to help clinicians, patients, their friends and families assess, treat and monitor mental health.
“Global Mental Health is in crisis, affecting nearly a billion people worldwide and we can help.
“The impact of our technology goes beyond mental health to encompass other conditions which may be diagnosed through changes in the behaviour of the face. We’re working on technology that could diagnose Dementia earlier, helping sufferers take more control of their condition and access treatment earlier.”
The CogX Awards, which are in their sixth year, celebrate innovators and change makers who are having an impact across the world.
The Range to acquire brand, website and intellectual property of wilko
The joint administrators of wilko have entered into an agreement for The Range to acquire the wilko brand, website and intellectual property.
After a short period of transition, PwC expect online operations to recommence as the administration store trading programme concludes in early October.
As part of the deal, 36 employees from wilko’s digital team have transferred over to The Range.
Jane Steer, joint administrator, says: “Since our appointment, the feedback from customers and wider stakeholders during this challenging period has reinforced the fact that wilko remains a much loved and trusted brand within the UK.
“This sale to The Range will ensure that the wilko name lives on under their ownership and we wish The Range every success.”
Adhesives company acquires business of Nottinghamshire firm
H.B. Fuller Company, the pureplay adhesives company, has acquired the business of Nottinghamshire-based Sanglier Limited, the independently owned manufacturers and fillers of sprayable (aerosol and canister) industrial adhesives.
The acquisition expands H.B. Fuller’s innovation capabilities and product portfolio across the UK and Europe, particularly in the Construction Adhesives and Engineering Adhesives businesses, complementing technologies obtained through the acquisitions of Apollo and Fourny and spray capabilities acquired and developed in the United States.
“Transforming adhesive applications to enable sprayable delivery provides end users with an opportunity to greatly improve labor efficiency. This is particularly valuable in today’s tight labor market and is a key megatrend that H.B. Fuller is applying its unique innovation capabilities toward to enable our customers’ success,” says Boz Malik, senior vice president, H.B. Fuller Construction Adhesives.
“Sanglier shares a similar business model, which includes providing customized, high-quality solutions to support and develop our customers’ brands. This acquisition will strengthen the integration of our adhesive manufacturing and packaging capabilities, which we will leverage to generate a strong market advantage in terms of operations, innovation, and service.”
The team of nearly 60 employees will operate within H.B. Fuller’s existing Construction Adhesives global business unit.
Gould Alloys expands at Markham Vale with second 55,000 sq ft unit
Gould Alloys has expanded at Markham Vale, taking a further 55,000 sq ft on a 10-year lease.
The deal, which will see Gould Alloys expand into the MV55 unit, comes almost a decade after the business first arrived at Markham Vale, moving into a purpose-built 50,000 sq ft building and investing more than £1m in new technology and machinery.
Markham Vale is a flagship 200-acre industrial and logistics scheme in Chesterfield; a joint venture partnership between property developer HBD and Derbyshire County Council.
The new building forms a key part of Gould Alloys’ sustainability strategy, while providing additional space to deliver new contracts in the future.
The deal also demonstrates the continued demand for space at Markham Vale, with MV55 immediately let with no void period.
Tom Wheldon, head of region at HBD, said: “It’s great to see Gould Alloys expanding further at Markham Vale. MV55 is the ideal location for the business’s second base at the scheme; a best-in-class building, its sustainable features will support the company’s environmental strategy and help to minimise its carbon output.”
Jane Bradshaw of Gould Alloys said: “We’ve been at Markham Vale for almost a decade, so it’s great to be able to secure MV55 for our next chapter. The additional 55,000 sq ft is a key component of our environmental strategy, ensuring we can operate as sustainably as possible by limiting the movement of materials and reducing our carbon output, while providing additional capacity for the servicing of future contracts as we continue to grow.”
Councillor Tony King, Derbyshire County Council’s Cabinet Member for Clean Growth and Regeneration, said: “Gould Alloys is a real Derbyshire success story and we’re pleased we’ve been able to accommodate their needs and cater for their growth with additional space here at Markham to help them become more sustainable. They are an established part of our business community and we look forward to following their success for many more years to come.”
G F Tomlinson secures place on prestigious Procure Partnerships Framework
Midlands-based contractor, G F Tomlinson, has successfully been selected for two lots on the Procure Partnerships Framework.
Running from 1 November 2023 for four years, G F Tomlinson have been selected to deliver a range of schemes within the public sector.
As part of the partnership, G F Tomlinson has been appointed to deliver projects from £5 million to £15 million, across both the East Midlands and West Midlands.
Procure Partnerships Framework Ltd has operated a national contractor framework for the past four years and has supported the delivery of over 150 construction projects year on year.
This second iteration of the Framework covers four disciplines, including construction, under which G F Tomlinson has been appointed. The total value of the Framework across its nine regions is anticipated to be £8 billion, over the four-year term.
G F Tomlinson secured its place on the Framework through a rigorous and comprehensive selection process encompassing several critical assessments, including: PAS91 Selection Questionnaire; Financial Standing Checks; Relevant Experience; Commercial Assessments; and Quality Assessments, covering aspects such as cost management, health and safety, sustainability, social value, and performance management.
G F Tomlinson’s Framework Manager, Ian Dalby, will be managing this new relationship, ensuring the contractor’s continued commitment to delivering exceptional construction solutions.
Chris Flint, Managing Director at G F Tomlinson, said: “The Procure Partnerships Framework will enhance our coverage in the regions we operate in and provide a cost-effective platform for delivering essential public sector projects, and we are pleased to now be part of it.
“Since 2018 G F Tomlinson has delivered in excess of £500 million projects within the public sector and this award will help to continue our commitment to delivering excellence in construction and our commitment to transforming communities. We look forward to developing significant projects across the East and West Midlands.”
Robbie Blackhurst, director and founder at Procure Partnerships Framework, said: “Procure Partnerships Framework looks forward to working with G F Tomlinson on a number of key projects essential to the delivery of public sector works at the highest standard. The new iteration of the framework is set to transform public and private sector procurement, and we look forward to seeing what G F Tomlinson achieves over the next four years.”
High profile property development director joins BRM Solicitors
Regional law firm BRM Solicitors has appointed a new director to its Real Estate team.
Julie Carr joins from national law firm Knights, bringing with her extensive background in handling residential property development, guiding conditional contracts for purchasing and selling development land, and managing options and overage agreements.
Julie also oversaw planning promotion agreements, joint ventures, and various collaborative arrangements, coordinating land assembly, and establishing development sites for plot sales.
BRM’s 26-strong property team now includes nine directors and counts Woodall Group, Gleeson Homes, Reef Group and Global Brands among its clients.
Adrian Sheehan, head of BRM’s Real Estate department, said: “The addition of a new director is a significant move for us and reflects our ambitious strategy for BRM’s Real Estate Department. Julie’s strong track record and breadth and depth of experience highly complement our growing residential developer client portfolio, whilst we provide her with a platform regionally and nationally.”
Julie Carr added: “BRM’s department has developed an enviable client portfolio and earned a well-deserved reputation as one of the most highly regarded in the region. I’m looking forward to being part of its future growth.”
Rolls-Royce joins group to develop hydrogen as an aviation fuel
Rolls-Royce is backing a new UK hydrogen alliance launched to accelerate the drive towards zero carbon aviation.
The engineering giant, which has its civil aerospace business in Derby, has joined a number of major players across the aviation industry to launch the Hydrogen in Aviation Alliance.
The HIA aims to assist government and policymakers by mapping out the milestones to ensure infrastructure, regulatory and policy changes keep pace with the ground-breaking technological developments in carbon-free flying.
Rolls-Royce is joined in the alliance by other leading companies in the UK aviation and renewable energy sectors, including easyJet, Airbus, Ørsted, GKN Aerospace and Bristol Airport.
Grazia Vittadini, chief technology officer at Rolls-Royce, said: “Collaboration is key when it comes to achieving our net zero ambitions as an industry, which is why we are proud to be part of the Hydrogen in Aviation Alliance.
“Our contribution to HIA is the capability and experience we have in pioneering new technologies and solutions – we have already tested a modern aero engine on green hydrogen and we strongly believe it is one of the solutions that will help decarbonise aviation in the mid to long-term.”
According to the alliance, the UK is currently in a strong position to become a global leader in hydrogen-powered aviation, but further steps must be taken to capture the opportunity, secure long-term employment and economic benefits, as well as meet critical decarbonisation targets.
New research shows that 81% of the British public believe hydrogen is the best option to decarbonise aviation with 91% supporting the UK government investing in hydrogen production and use in the aviation sector.
Hydrogen is regarded as a very promising alternative-fuel option for short-haul aviation.
Airbus is developing new hydrogen powered aircraft with the aim of entering commercial service from 2035 and Rolls-Royce has already proven that hydrogen could power a jet engine following successful ground tests in 2022.
In partnership with easyJet, Rolls-Royce conducted a ground test on an early concept demonstrator using green hydrogen created by wind and tidal power.
The test took place at an outdoor test facility at MoD Boscombe Down, using a converted Rolls-Royce AE 2100-A regional aircraft engine.
Johan Lundgren, chief executive of easyJet and chair of the HIA, said: “There is no doubt that the UK has the potential to become a world leader in hydrogen aviation, which could bring with it a £34 billion per annum boost to the country’s economy by 2050, but in order to capture this opportunity, rapid change is needed and the time to act is now.
“We must work together to deliver the radical solutions required for a hard to abate industry like aviation so we can protect and maximise the benefits that it brings to the UK economy and society and that we know British consumers want to be preserved.
“HIA looks forward to working with the UK Government to ensure the right funding, regulatory and policy changes are implemented to accelerate the delivery of zero carbon aviation.”
Apprenticeship Awards finalists announced
Finalists have been announced in the Derbyshire and Nottinghamshire Apprenticeship Awards, with 14 category awards are up for grabs to recognise the incredible apprenticeship network across the region.
- Advanced Apprentice of the Year: Alfie Wooldridge Derby City Council; Franchescia Davies Buxton & Leek College; Jordan Pirie Brookfield Community School; Olivia Scane HM Land Registry
- Higher Apprentice of the Year, Sponsored by Nottingham Trent University: Alison Liles The Gables Residential Care Home; Sarah Westwood BWB Consulting;
- Degree Apprentice of the Year, Sponsored by University of Nottingham; Arron Faulkner E.ON UK; Connell Parker E.ON UK; Holly Johnson Derby Homes Ltd; Mia Outram No7 Beauty Company; Stuart Rendall Continental Engineering Services
- Construction Apprentice of the Year: Avikaash Manon Derby Homes; Ben Wilcox BWB Consulting; Eddy Palethorpe Crawford & Co Surveyors; Lloyd Dabell Crawford & Co Surveyors; William Thompson Dalton Roofing
- Manufacturing Apprentice of the Year: To be announced
- Professional Services Apprentice of the Year: Eleanor Ancliffe Reach Separations; Jacob Whitty Crawford & Co Surveyors; Lloyd Dabell Crawford & Co Surveyors; Megan Tuohy Crawford & Co Surveyors.
- Health and Public Service Apprentice of the Year, Sponsored by Auto Windscreens: Holly Johnson Derby Homes Ltd; Jade Smith St Albans Medical centre; Poppie Staden Blythe House Hospice Care and Helen’s Trust.
- Technology and Digital Apprentice of the Year, Sponsored by Aim Qualifications Group: Arron Faulkner E.ON UK; Connell Parker E.ON UK; Hannah Jones Experian; James Bennington BWB ConsultingJames Cox Central Technology; Joe Hawksworth Althaus Digital.
- Mentor of the Year, Sponsored by Greatest Hits FM: Janet Quinlan-Jones Sort Legal; Kiera Bailey Reach Separations; Sarah Walker BWB Consulting; Sophie Bancroft – Employee Development Manager Derby Homes Limited; Waqas Matloob Althaus Digital.
- Diversity & Inclusion Award: Auto Windscreens; Broxtowe Borough Council;
- SME Employer of the Year: Sponsored by EMAAN; Crawford & Co Surveyors; Dalton Roofing; Project D; Sort Legal.
- Large Employer of the Year: Broxtowe Borough Council; BWB Consulting; Chesterfield Royal Hospital NHS Foundation Trust; Derby Homes Ltd; Experian; Motus Commercials; Nottingham University Hospitals NHS Trust;
- Training Provider/Programme of the Year: Althaus Digital; Auto Windscreens; JTL
