Kim King, deputy area director at HSBC UK, added: “Trade Vehicle Parts is an ambitious business which provides a fantastic and essential service to vehicle owners and organisations across the country. We’re pleased to assist the business’s growth with domestic and international support.”
Leicestershire vehicle parts supplier firm revs up for growth
A Melton Mowbray business specialising in supplying and distributing vehicle accident repair parts is motoring towards further growth with support from HSBC UK.
Trade Vehicle Parts will use the seven-figure funding package from HSBC UK to source and secure a growing number of vehicle parts such as bonnets and bumpers globally, ensuring customers have more options available when seeking repairs to their vehicles.
The funding package will enable Trade Vehicle Parts to import core stock from countries around the world including Taiwan, China, and Poland. The deal also sees the business utilise HSBC UK’s Global Wallet. This multi-currency virtual account allows Trade Vehicle Parts to make and receive international payments using local account details, making it easier to purchase car parts in bulk, lowering costs and increasing revenue.
The funding package from HSBC UK also includes a refinancing of the commercial mortgage for its 17000 sq ft Melton Mowbray headquarters.
The deal with HSBC UK is expected to result in a 50 percent increase in turnover for Trade Vehicle Parts over the next three years, building on the steady growth the company have experienced up to now.
Deyan Petrovski, owner & director at Trade Vehicle Parts, said: “This funding from HSBC UK is a crucial milestone in our growth journey. Operating in an industry where working closely with international suppliers is so important, we are grateful for the ability to maximise our cashflow due to HSBC’s international footprint.”
BakeAway bolsters senior leadership team
BakeAway has appointed Marc Garcia as its new UK operations director, who brings with him a wealth of expertise and leadership to further elevate the brand’s growth in the UK market.
Based in Corby, Northamptonshire, BakeAway is a manufacturer of pastry and dough, supplying grocery retailers with private label products including puff pastry, shortcrust pastry, pizza dough and cookie dough.
Marc’s extensive knowledge, following 30 years’ experience, makes him the ideal candidate to lead BakeAway’s UK operations and oversee the development of the brand.
Discussing plans for his role, Marc said: “I jumped at the opportunity to work for BakeAway, especially during this period of growth for the organisation.
“I consider myself fortunate to lead BakeAway during this pivotal phase, with a focus on investing further in our people, buildings and machinery, as they are the backbone of our success.”
Garcia joins BakeAway after serving as operations director for Barry Callebaut in his previous position, where he played a pivotal role in streamlining operations and driving efficiency.
Star Trust announces next round of grant support
East Midlands charity, Star Trust, is now accepting bids from East Midlands charities to support the life-changing work they do in local communities.
Star Trust is run by local business owners and entrepreneurs and supports good causes in Nottinghamshire, Derbyshire, Leicestershire, Lincolnshire and Rutland.
Since its launch ten years ago, Star Trust has supported 106 charities with a total of £798,763 and directly touched the lives of over 56,000 people in the East Midlands area.
The latest recipients recently received funding cheques totalling nearly £20,000. They are the British Disabled Angling Association, TwentyTwenty, Hope for Hunger, Lamp and Home Start Newark.
The next major fundraising event is the Star Trust annual ball which is set to raise over £100,000 and the charity is keen to hear from local charities who need their support.
Star Trust founder Steve Hampson said: “We organise up to three high profile events a year and all the money raised is then granted to small charities across the East Midlands region who apply for funding.
“The generosity of business owners and entrepreneurs across the region makes a huge difference to local charities of all sizes whose services are in such high demand from vulnerable individuals and families in our local communities.
“The application process is very straightforward so that it is accessible to even the smallest of charities and we look forward to helping even more organisations in the coming year.”
Car dealership drives into Burton
Commercial property agents Rushton Hickman have let a 2,466 sq ft industrial unit close to the town centre of Burton upon Trent.
The industrial unit forms part of a terrace on Millers Lane and is accessed from Derby Street with other industrial units and premises close by.
The new tenants of the premises are Apex Auto Hub who have taken it on as their new home. The car dealership trading in new and used cars and light motor vehicles are a family run business with many years of experience in the motor trade.
Property agent Taylor Millington said: “We previously sold this unit to the current landlord and it was great to be retained as the letting agent when their tenant gave notice to leave. After bringing the unit to the market, as anticipated it proved very popular, with numerous viewings and enquiries.
“We were able to agree a deal very quickly to ensure that there was no void period for our client. It’s excellent to see an established business set up in the local area as well as knowing that our client has a fully let investment.”
Speedy sale delivered for Prigmore Haulage
A “quick and easy” sale of Prigmore Haulage Ltd, overseen by KBS Corporate, has been praised by the family of the company’s founders, who are now able to retire.
Started in 2000 as a sole tradership by Patricia Prigmore, the Wellingborough-based business has expanded from having a single van delivering hazardous loads for local customers to becoming a limited company with a fleet ranging from 7.5-tonne vehicles up to 44-tonne artics.
Patricia and Kenneth Prigmore have now had their retirement plans enabled by a partial share-sale to Explore Transport and Plant Hire, which is based in Worksop with depots around England, most of which are in the Midlands.
Katherine Prigmore, daughter-in-law of the founders and who joined the business in 2015, is staying on with her husband, Richard.
“The partial sale of Prigmore Haulage Ltd has allowed my in-laws to retire and my husband and myself to continue running the company,” said Katherine. “We have partnered up with a larger company with aspirations to continue to grow on a larger scale than we could have imagined.”
Adam Nelson, KBS Corporate deal executive, added: “Prigmore Haulage stood out as it has a strong 20-years-plus history which has helped it to develop a great reputation.
“Through achieving a deal, Patricia and Kenneth Prigmore are now able to step back and retire, while Katherine and Richard can accelerate the business forward with the partial share-sale. I believe this has allowed the family to meet their expectations and move on to their next chapter.
“Explore Transport’s interest was discovered through KBS and we have achieved a very timely deal due to great efforts from all involved. I’m happy we have achieved the deal the Prigmore family were looking for and I’m excited to see how the business develops. I wish all parties the best of luck moving forward.”
Support and expertise on the deal were also provided by Adam Gilbert, Deni Slaveva and Harriet Woolley of AG Corporate Law.
Redundancies made at wilko
While discussions continue with those interested in buying parts of wilko, the business’s administrators have now said it is “clear that no viable offer structure put forward includes the group in its entirety.”
According to PwC it has therefore been necessary to assess the roles required in wilko’s Support Centre in Worksop and distribution centres in Worksop and Newport. It means 269 Support Centre team member roles will be made redundant, effective from close of business on Monday 4 September – with further redundancies across the two distribution centres from early next week (exact numbers to be confirmed).
Furthermore, no viable offers have been received for Kin Limited (Kin), a subsidiary of Wilkinson Hardware Stores Ltd (WHSL). As such, the company has had to close, resulting in the redundancies of its 14 employees – effective from close of business on Monday 4 September.
The administration’s dedicated employee team will continue to work with HR and payroll to provide support to team members, including assisting in the statutory redundancy claims process with the Redundancy Payments Service.
A dedicated helpline also remains in place to ensure employees can address queries they have regarding the process, and company support systems with access to further advice and resources remain active.
The administrators say they will continue to liaise closely with the government, agencies, unions and large employers to help create avenues to further employment opportunities for affected staff.
Jane Steer, joint administrator, said: “It’s with great sadness that we announce these redundancies. We’re incredibly grateful to these team members for the support and dedication they’ve shown to the company, particularly over the last few very difficult weeks.
“We will continue to do all that we can to support staff through this period of difficult upheaval, and to maximise their opportunities for a rapid return to work. Our priority is to ensure that all team members affected by redundancy are assisted in processing their claims with immediate effect.
“We will be circulating correspondence to all staff as soon as possible which will outline the support available to complete redundancy payment forms. Advice and assistance will also be available from Job Centre Plus and other agencies.”
All stores are currently trading and remain open.
Business community urged to back Framework’s Big Sleep Out
Nottingham charity Framework has launched its annual Big Sleep Out campaign to raise vital funds to help get the growing number of local rough sleepers off the streets.
The Big Sleep Out is inviting teams from local businesses to sign up to spend the night in a sleeping bag at Nottingham Racecourse on Saturday 7 October. It’s a chance for employers to make a difference and support their employees to take part as a team and pledge funds that will go directly towards helping rough sleepers in Nottingham.
It comes at a time when the charity’s Street Outreach Team found 57 people sleeping rough in Nottingham alone. This is the highest monthly figure this year and the highest number for August in the past five years.
Long term supporters Tesco and Campbell Clinic are already on board for 2023 with Tesco saying “we are really privileged to support such a great event.”
Campbell Clinic added: “The Campbell Clinic dental practice has supported Framework for several years through our Social Legacy Project. Recently, some of our staff spent a few hours with Framework’s Street Outreach Team and this has inspired us to get involved in the Big Sleep Out as a sponsor. We are proud to be supporting this event and looking forward to some of our staff taking part.”
Framework delivers housing, health, employment, support and care services to people with a diverse range of needs across the East Midlands in Derbyshire, Lincolnshire, North Lincolnshire, North East Lincolnshire, Nottinghamshire, and in Sheffield.
Regardless of their past, or the challenges they face, the charity strives to empower people to achieve financial stability, social inclusion and independence, driven by the belief that everyone has the right and potential to achieve a better future.
Framework’s head of fundraising and communications, Claire Eden said: “We need the help of the business community now more than ever to support the increasing number of people who will experience the trauma of rough sleeping this winter, many of them for the first time.”
All the businesses who take part will be recognised by Framework on its social channels and given a toolkit to use in their own communications to help spread awareness and their support.
There are also sponsorship opportunities available which include the programme and website, a stall at the Big Sleep Out village, and across social media. Companies can also sponsor one of the dedicated areas such as the Silent Disco, Children’s Area or Cinema.
Framework’s event fundraiser Natalie Dickson who is organising the Big Sleep Out says: “The Big Sleep Out is the chance to be part of something worthwhile for a good cause. It attracts individuals, groups of friends, families, community groups such as scouts, as well as teams from local businesses. In fact, our corporate supporters often tell us what a powerful and emotive experience it is – team building that makes a difference!
“Sleeping outside in the elements for a single cold October night is challenging enough but, unfortunately, it’s something more and more people have to endure every night.
“Framework’s Big Sleep Out is an opportunity for like-minded people to come together, enjoy a great evening and raise funds for a deserving cause – helping people in need by sleeping out so others don’t have to and providing support that can change lives.”
Companies interested in sponsorship can email Natalie.Dickson@frameworkha.org
Sign up at www.frameworkha.org/sleepout to receive a toolkit to get started on fundraising.
Homebuilder granted planning permission for more than 300 homes across the Midlands
Midlands-based homebuilder Spitfire Homes has secured planning permission for 371 homes across the Midlands in just one week.
Leading the plans is a 280-home scheme in Radcliffe-on-Trent, Nottinghamshire, along with a further 61 properties located at a former Sandvik HQ in Halesowen, Dudley, and a collection of 30 new homes in the Worcestershire village of Crowle.
Despite the recent announcements, Ben Leather, Managing Director at Spitfire Homes, says the process of securing planning permission has been an extremely difficult and drawn-out process.
“Despite our recent planning success, as an SME housebuilder we experience significant struggles with the current planning system on a daily basis – something that is felt throughout the industry.
“Reserved Matters permission for one of these developments took almost 12 months to secure, despite being an allocated site in the Local Plan with Outline Permission already in place, and no objections from any statutory consultees. Another development on a brownfield site was challenged by unjustified design and highways requests, whilst staffing changes within the planning department further slowed the process which took over a year.
“These are just some recent examples of how the current system prevents housebuilders from delivering homes that are needed in strategic locations within acceptable timeframes.”
Housing Secretary Micheal Gove recently set out new measures that he hopes will unblock the planning system and enable the building of more homes in the right places where there is local consent.
Developers will be asked to contribute more through fees, to help support a higher-quality, more efficient planning service, but Leather doesn’t think the changes go far enough to provide a deliverable mix of homes, of all tenures, to solve England’s housing crisis.
“We support the principle of paying higher planning fees if it means Local Planning Authorities spend those additional fees on increasing the resources within their teams and it isn’t diverted to other Council departments.
“With increases in interest rates, the cost for SME housebuilders to put sites on hold whilst waiting for planning approvals can be crippling for small businesses, so this change is absolutely essential to promote the future success of these businesses and ensure their continued contribution to the economy.
“The recent Save Our SMEs campaign championed by the HBF further demonstrated the sentiment from housebuilders similar to Spitfire Homes, with 166 businesses signing the open letter to Government in response to recent policy amendments which remove the requirement for mandatory local housing targets, further throttling the amount of planning permissions granted for new homes. It’s vital housing targets are reinstated and are not reliant on conversion of commercial and agricultural buildings to provide more homes as advocated by Gove.
“Increasing the quality and level of resource within the planning system is a significant step forward in the delivery of much-needed new homes.”
Steel firm snaps up substantial Sherwood Park warehouse space
Acting on behalf of private investor clients, Tim Gilbertson, director of FHP Property Consultants, has sold substantial warehouse space at Sherwood Park, Nottingham to Parkside Steel, which will facilitate their expansion and relocation from their current unit on the estate.
The building sits just off Junction 27 of the M1 motorway and offers a mix of storage and production space with two storey offices augmented by extensive car parking and separate delivery yard.
The deal concluded sees the sale of just under 60,000 sq ft of space, enabling Parkside Steel to expand and relocate as their business continues to grow.
Tim Gilbertson said: “I was delighted to see this sale go through on Sherwood Park which remains an attractive and sought after location just off Junction 27 of the M1 motorway.
“It was a pleasure to deal with our purchasers, Jack Audley of Parkside Steel throughout and as ever it is good to see a local company growing and expanding.
“Equally, my vendor clients were delighted with the disposal in a deal where both parties behaved impeccably and despite having some hurdles to cross with the sale, both did their utmost to achieve a common goal of a transaction in the simplest manner.
“Thank you to my clients for this instruction and I wish Parkside Steel well.”
Jack Audley of Parkside Steel said: “Parkside Steel has been based on Sherwood Park since 2006 and with our continued growth it became clear that space was going to be our biggest hurdle. Byron House presented the perfect solution and will allow us to keep up with customer demand as we expand into other markets.
“Opportunities like this don’t come around often, especially for privately owned family businesses such as ours, so our thanks go to Tim Gilbertson at FHP for his help in reaching a deal both parties were happy with. Our aim is to be the market leader in steel supply and processing and Byron House means we have a clear roadmap to making that happen.”
Workplace expansion development moves ahead at Space City
The plan to expand innovative workspace at Space City Leicester is taking shape with Leicester City Council’s expansion of its existing Dock and Dock 2 workspace hub with two new Dock-style office buildings and a terrace of high-quality manufacturing spaces.
The steel frame of the first of the new buildings in place, with construction of the entire scheme due to be complete by spring 2024.
The two new offices will provide space for up to 45 businesses across 4,000sqm, with the purpose-built industrial units providing an additional 2,000sqm of workspace across nine units.
A range of energy efficiency measures will mean the new buildings will be net carbon zero. These include roof-mounted photovoltaic panels, air source heat pumps, super insulation, and low-energy LED lighting. The new buildings will require no gas heating. Twelve chargers will also be installed for electric vehicles in a new parking area.
The £16.5million project is supported by £13million from the Government’s Levelling Up Fund. The Leicester and Leicestershire Enterprise Partnership (LLEP) is also providing £3.5million towards the project from Enterprise Zone retained business rates.
Andy Reed OBE, LLEP Co-Chair, said: “Investing in creating a sustainable ecosystem for regional businesses is at the heart of our Economic Growth Strategy. The high occupancy rate at the existing Dock buildings gives us great confidence that dozens more exciting new businesses will move into these new energy-efficient workspaces when they open next year.”
The new buildings have been designed to complement the look and feel of the original Dock workspace buildings which they are being built next to.
Once complete, the new buildings will become part of an expanded Dock campus, which is managed by the city council. The existing Dock buildings are home to around 50 businesses, with 90 per cent of the available workspaces currently occupied.
The new development is part of Space City Leicester, one of the largest and most connected Enterprise Zones for space-related activities in the UK. It will be home to space research, production, manufacture and development as well as non-space related knowledge economy businesses, those working towards decarbonisation, innovative start-ups and established businesses looking for grow on space.
