Property developer continues spree of acquisitions on Nottingham street
Property developer ALB Group has acquired 25 Bridlesmith Gate in Nottingham, currently home to fashion brand Joules.
25 Bridlesmith Gate provides a ground floor sales shop of circa 2,500ft² with the ability to create a rear courtyard garden. The upper floors are already vacant but will be redeveloped to provide office or residential accommodation.
Ben Tebbutt, director at BOX Property, says: “This latest acquisition demonstrates ALB’s continued commitment to Bridlesmith Gate.
“Working closely with our clients we have already let the units to the southern end of the street to the likes of Sneakrverse, Stick & Ribbon, Barista Lab coffee shop and the vintage clothing retailer Garms.
“By owning larger parts of the street, we are able to take a very holistic approach to the lettings, in order to create the right mix of retail and leisure uses.”
Chris Ward of Robinson Webster acted on behalf of the vendor.
Another record year for revenue and profitability at Watches of Switzerland
Leicester-based Watches of Switzerland has hailed another record year of revenue and profitability.
In a new trading update, for the 52 weeks to 30 April 2023, the company highlighted group revenue of £1.54bn, up 25% on the prior year.
Meanwhile adjusted EBIT is expected to be between £163 million and £167 million, up from £130 million last year.
The business noted “excellent progress” in the first two years of its Long Range Plan, with Watches of Switzerland entering its new financial year “significantly ahead of schedule.”
Brian Duffy, Chief Executive Officer, said: “FY23 was another record year of revenue and profitability, with revenue growth of 25% at reported rates (+19% at constant currency) and continued EBIT margin expansion.
“Although, as expected, the second half of FY23 saw a more challenging trading environment, demand remains strong and continues to exceed supply, with client registration lists continuing to grow. I would like to thank all my colleagues for their continued hard work and dedication.
“We have an exciting pipeline of showroom projects, and I am delighted to announce the Group has signed a letter of intent with Audemars Piguet (AP) confirming its intention to open an AP House in the UK in the region of St Anne’s, Manchester, via a Joint Venture partnership in Spring 2024.
“This is an important expansion in our partnership with Audemars Piguet which has spanned more than 50 years and we look forward to what will be a great showroom for the city of Manchester. We also announce today our plan to open a flagship TUDOR mono-brand boutique at Old Bond Street, one of the most prestigious addresses in London, in Q4 FY24.
“We enter FY24 significantly ahead of where we expected to be in our Long Range Plan following two years of exceptional performance and notwithstanding the macroeconomic backdrop. Our FY24 guidance assumes revenue growth of 8 to 11% at constant currency with EBIT margin in line with prior year.
“We remain confident in our goals to maintain our leadership position in the UK, become the clear leader in the US, and capitalise on our growth potential in Europe.”
Turley expands into the East Midlands
Full-service planning and development consultancy Turley has expanded into the East Midlands with the opening of a new office in Nottingham. The employee-owned company, which operates across 14 other major cities throughout the UK and Ireland, sees this expansion as a critical step in the long-term growth of its Midlands business unit.
Turley’s presence off Wollaton Street, Nottingham will be a central base from which to support its existing clients, grow a regional network and develop new business connections.
The consultancy has been delivering major projects across the East Midlands for several years, including strategic residential developments and land promotions, industrial and logistics schemes, purpose-built student accommodation and other higher education schemes.
The business most recently worked on IM Properties Hinckley Park scheme in the Hinckley & Bosworth borough which is now two-thirds complete with the final phase under construction. In total, it will deliver approximately 140,000m² of industrial and logistics floorspace and create c. 2,000 direct jobs.
The team will include Angela Reeve, head of Planning, Midlands; Jessica Herritty, associate director and current chair of the RTPI East Midlands Young Planners Committee and Women in Planning East Midlands Committee; Tom Armfield, director; and Sam Lake, associate director at Turley.
Speaking on the office launch, Angela Reeve said: “The East Midlands region represents a significant geography for Turley. We have been increasingly active in the region over recent years, working on a diverse range of projects on behalf of clients including housebuilders, industrial and logistics developers, higher education providers and PBSA providers.
“We consider there to be an incredible amount of opportunity for employment and economic development in the region, driven forward by the East Midlands Freeport initiative, the Midlands Engine initiative and the arrival of HS2.
“Additionally, with at least one university in every city and key road, rail and air freight routes throughout the region, it is a geography teeming with potential. This expansion of our Midlands business unit with the new office space in Nottingham means we are perfectly positioned to seize on the fantastic opportunities the region has to offer.”
Loughborough vehicle hire company secures £18m funding package for acquisition
A Loughborough-based vehicle hire company has expanded its operations across the UK with a HSBC UK supported acquisition.
Reflex Vehicle Hire has utilised a £18m funding package from HSBC UK to acquire Hireway Vehicle Rental in Wishaw.
The acquisition will see all Hireway Vehicle Rental staff maintained, increasing the Reflex Vehicle Hire team by 11 people, taking them to 115 employees, and adding 900 vehicles to its fleet.
The expansion will increase Reflex Van Hire’s fleet to around 6,000 commercial vehicles.
As a result of expansion, Reflex Vehicle Hire is anticipating a 19 per cent increase in turnover over the next 12 months.
Oliver Waring, founder and chairman of Reflex Vehicle Hire, said: “This acquisition has progressed our growth strategy ahead of schedule and unlocks some fantastic new opportunities for the business. We’re excited to work with Hireway Vehicle Rental staff over the coming months to cement our reputation as the first-choice provider for business customers.”
Ben Foster, relationship director at HSBC UK, said: “Reflex Vehicle Hire is a market leader in customer service and pushing sustainability in vehicle rental. HSBC UK are proud to support the business expand across the UK as they cross the border into Scotland.”
Flint Bishop drives revenue to record high
Flint Bishop, a prominent law firm with offices in Derby and Birmingham, is celebrating yet another exceptional year as it unveils its strongest financial performance to date. The firm’s unwavering commitment to excellence and strategic growth initiatives have propelled its revenue to a record high.
For the 12 months to 30 April 2023, turnover rose to £19.4m, an increase of 11% on the previous year. With 71 new starters onboarded during the financial year, the current growth rate has seen the firm boost its headcount by nearly 10%, with the total number of employees now standing at well over 200, the highest in the firm’s history.
The relentless dedication and expertise exhibited by all teams at Flint Bishop have resulted in numerous accolades and recognitions within the legal community. With the firm boasting several practice areas ranked in the prestigious ‘Top Tier’, and a record number of its lawyers listed as recommended individuals in esteemed publications such as The Legal 500 and Chambers UK, Flint Bishop continues to grow in recognition as the home of outstanding legal talent.
To cap off another highly successful year, Flint Bishop opened its new state-of-the-art Derby headquarters, the Pinnacle Building, earlier last month. This significant acquisition and investment in Grade A modern high-tech offices not only offers many additional facilities for clients and staff, but also symbolises the firm’s commitment to excellence, innovation, and reaching new heights, and reflects Flint Bishop’s reputation and position within the legal industry.
Commenting on the firm’s achievements, Chief Executive Qamer Ghafoor stated: “Flint Bishop’s exceptional financial results, coupled with its continued commitment to excellence and strategic expansion, set the stage for an even more promising future. With a solid foundation and a focus on growth, the firm is well-equipped to elevate its position in the legal industry and deliver unparalleled legal services to its clients.”
Ghafoor added: “As we embark on the new financial year, we have already observed significant growth across several of our teams, and our focus on recruiting experienced professionals will continue at pace.
“With the investment in our modern, high tech, creative, open and collaborative office environments, I strongly believe we are now in position to leverage the great ways in which operate and further strengthen the way we work and support each other to elevate our combined service offerings and help to advance our position within the legal sector.”
RammSanderson “thrilled” to be sponsoring the East Midlands Bricks Awards 2023
RammSanderson has joined the sponsor line up for the East Midlands Bricks Awards 2023, supporting the Contractor of the Year category.
Speaking with Business Link, a spokesperson for RammSanderson said: “RammSanderson are thrilled to be sponsoring the East Midlands Bricks Awards 2023, backing Contractor of the Year, for the second year in a row.
“RammSanderson are a specialist, leading environmental consultant providing services to the planning and construction sector for ecology, arboriculture, and flood risk on a full range of projects. We pride ourselves in working closely with our clients and their team of consultants and contractors to deliver projects that run smoothly and achieve valuable environmental and ecological gains.
“By sponsoring this award we want to celebrate the contractors who go above and beyond the word of the contract to deliver a truly exceptional service.
“We are excited to see what the nominees have accomplished, to celebrate their achievements and get the chance to network with property and construction professionals from across the region at the Bricks 2023.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
To be held at:
“By sponsoring this award we want to celebrate the contractors who go above and beyond the word of the contract to deliver a truly exceptional service.
“We are excited to see what the nominees have accomplished, to celebrate their achievements and get the chance to network with property and construction professionals from across the region at the Bricks 2023.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
John Pye capitalises on business growth with new appointment
Nottingham-headquartered national auctioneers John Pye & Sons Ltd has appointed Patrick Molyneux as its new B2B marketing strategist as it looks to meet the demands of its expanding online customer network.
Over the past few years, the firm’s marketing strategy has focussed on growing its retail sales. The online auction site now sees 2.5 million monthly visitors and is among the top 500 in the UK. The first quarter of 2023 has seen record numbers of new customer online registrations. To continue this success and meet the growing demand for stock, the company is now focusing on further expanding its business to business (B2B) customer base.
Working within the marketing team at John Pye’s head office in Basford, Patrick will be responsible for driving B2B business from new and existing contacts and identifying new revenue streams from retailers, distributors and manufacturers. He will also be responsible for helping John Pye to realise its ambitious growth targets and will support the auctioneer’s communications strategy by helping promote news and wider developments within the business.
Patrick brings over 16 years’ marketing experience to the firm, specialising in online and print creative, email campaigns, direct mail and print production within the financial services and retail sectors. His first major project will be overhauling the corporate website and supporting the business development team with helping potential customers understand the John Pye’s full offer.
Speaking of his appointment, Patrick says: “I’m passionate about building relationships, finding opportunities for business development and was keen to work in a new sector.
“There are such a range of products and sources to work with from untested returns and brand new stock from major High Street retailers, seasonal items where clients have no space to store them to undelivered parcels from major distributors. I’m really enjoying the challenge – there has been more variation in the last month than in the past five years of my previous roles!
“I appreciate the benefits of working for a friendly, family-run business and have already developed strong relationships both within the firm and across our wider professional network. I am looking forward to further expanding that network and supporting the business in realising its ambitions for growth.”
Trevor Palethorpe, associate director at John Pye, says: “It’s great to have Patrick on board, especially with the level of skills and experience he brings from high-calibre businesses including Boots and Capital One.
“John Pye has enjoyed a sustained period of growth and this appointment is directly in line with our expansion plans as we look to build the B2B side of the business. We’re looking forward to what we can achieve together in the coming months.”
MTMS pledges to help staff share the load as it appoints its first mental health first-aider
Rail depot maintenance firm MTMS has underlined its commitment to promoting wellbeing in the industry by appointing its first mental health first-aider.
The company, based in Swadlincote, Derbyshire, has appointed Nicky Johnson to the role, the first of three mental health first-aider posts it intends to create this year.
Nicky underwent her training for the role to coincide with Mental Health Awareness Week, while the company has also signed up the Railway Mental Health Charter, which was set up to promote, manage and support workforce mental wellbeing.
The issue has special relevance in the rail industry where, according to figures released two years ago, employees experience one-and-a-half times higher rates of anxiety than the general population.
The COVID pandemic was at its full height at the time the survey was conducted, but other research has found the rate of suicide in the workforce is 1.6 times the UK average, and 60% of workers have experienced mental health issues.
And, as an industry which employs a high proportion of men – women make up around just 16 per cent of the workforce – its workforce will be disproportionately affected by the issues which ensure that three out of every suicide victims in the UK is male.
Back at MTMS, where she works as a cost accountant, Nicky has been trained to act as a listening ear to anyone who wants to take the first step to getting help with mental health issues such as anxiety or depression, which all-too-often remain hidden by people who feel they have no-one to talk to.
The company employs 32 people, many of whom work remotely maintaining the depots and rolling stock on behalf of train operators across the UK, and all have been informed about her new role and encouraged to contact her if they feel they have any mental health issues.
She said: “I’m usually the kind of person who gets on with things, so the training was a real eye-opener about how things that we might expect people to be able to brush off can have a significant effect on them.
“My role isn’t there to offer advice, what I do is listen and show them understanding before signposting them to services which might be able to help them further.
“None of us know what other people are going through and so having mental health first-aiders on hand could be a real lifeline to somebody. I’m already a trained medical first aider so this gives my role more scope and I hope that I can be of help in the future.”
Matt Forst, Managing Director of MTMS, said: “Mental health is a huge issue for everybody, because none of us are immune from anxiety or depression, and many people we wouldn’t expect may be facing problems we may be unaware of.
“As employers, it’s our duty to ensure that our staff are able to seek the help they need. As a male I’m aware that men don’t always reach out for help, not even to their mates, so our pledge to support the Railway Mental Health Charter and Nicky’s appointment will show everyone that help is just a phone call away.”
Nottingham Venues creates mental health first aid team
Nottingham Venues has created a new mental health first aid team within the business. A sign of the company’s commitment to the wellbeing of its employees, the initiative aims to raise awareness of the importance of good mental health and provide support to colleagues who may be experiencing mental health problems.
A team of 12 people from a range of roles within the organisation have undergone mental health first aid training designed to equip them with the skills and knowledge needed to assist colleagues, and potentially guests.
The training was conducted and accredited by MHFA England and covered a range of topics, including how to identify the signs of someone struggling with their mental health, how to provide initial help and support, and how to guide people towards professional support if needed.
Following on from the MHFA England training, Nottingham Venues has also run a series of workshops for employees including ‘Dealing with Change and Stress Management Techniques’ and ‘Mental Health Awareness for Managers’ training, signalling the importance the company places on good mental health throughout the business.
In addition, Nottingham Venues has also launched a series of employee wellbeing events to promote overall health and wellness within the business. The first event took place in April and featured massages and beauty treatments for all employees, free day passes to the gym at the David Ross Sports Village, and an introduction to the new Employee Assistance Programme, TalkLife.
All 270 Nottingham Venues employees have been provided with access to the TalkLife app, a platform that provides peer support communities that offer safe and engaging places for people to get mental health support. It connects people with professionals, and also connects people dealing with the same issues, providing a support network and reducing loneliness.
Suzie Adams, Nottingham Venues’ HR director, says: “According to research from the University of Cambridge, approximately one in four people working within the hospitality industry have mental health problems.
“It is an issue in our sector and something we are aware of as a business. We are committed to supporting the wellbeing of our team and creating a positive working environment where people feel empowered to help one another or seek help if needed.
“By providing our employees with the tools and support they need to manage their mental and physical health, we hope to create a happier, healthier workplace for everyone.”
Nottingham Venues is a collection of independent venues specialising in meetings and events, set in the grounds of the University of Nottingham campus. All venues, including the East Midlands Conference Centre, the Jubilee Hotel and Conferences venue, Campus Venues and the 4* Orchard Eco Hotel were brought together under one brand in July 2022 with the aim of providing an unrivalled guest experience.
Nottingham Venues provides meeting space from 5 to 1,000 delegates, with over 40 meeting rooms, 2,000 sq ft of exhibition space and 300 bedrooms at the Orchard Hotel and Jubilee Hotel combined.
Region’s unemployment rate rises to highest since October 2021
The East Midlands’ unemployment rate has risen to its highest level in almost 18 months, new figures by the Office for National Statistics (ONS) show.
It was 3.7% in the three months to March 2023, up by two-tenths of a percentage point compared to a month earlier, although still below the national average of 3.9%. More significantly, this was the highest level recorded in the ONS’ regional labour market figures since the August to October 2021 period, when it was 4.2%.
East Midlands Chamber Chief Executive Scott Knowles said: “While the region’s unemployment rate remains at historically low levels and about 2% below its pandemic peak, it has been very slowly rising over the past six months.
“This indicates we must not get complacent about the relatively low unemployment rate, which if anything has masked a series of troubling trends facing firms when it comes to recruitment.
“Businesses continue to face a myriad of cost pressures and despite displaying incredible resilience over the past few years, this was always going to be unsustainable and we are seeing their ability to grow being stifled.”
Meanwhile, the region’s economic inactivity rate – which measures the number of working-age people who have dropped out of the labour market for reasons such as retirement, caring duties, long-term ill health or studying – decreased for the third month running, this time by half a percentage point to 21.4%.
This is the lowest figure over the past 12 months but remains above the UK average at 21%.
National figures also show there were more than 400,000 people not working due to long-term sickness, a new record, with the ONS noting a particular rise in mental health conditions among young people.
Scott added: “The Government has talked a lot about tackling the deep-rooted problem regarding economic inactivity among working-age people and, to an extent, we are now seeing some of its interventions bearing fruit as this slowly eases.
“However, the economic inactivity rate remains almost 3% above pre-Covid levels, which indicates it continues to be a thorn in the side of many employers.
“Our Quarterly Economic Survey for Q1 2023 showed that recruitment problems persist. Six in 10 (59%) East Midlands businesses attempting to recruit in the first three months of the year but, of those, 73% faced problems filling roles.
“In our Business Manifesto for Growth, we have set out a list of policies we believe will make the required difference, including introducing flexible incentives for businesses that invest in staff training and bringing forward the introduction of the Lifelong Loan Entitlement to support retraining and the retainment of an older workforce.
“We must also tailor policies to recognise the diversity of people who are out of work and avoid a one-size-fits-all solution. We would also like to see Government work with businesses to offer support, and share best practice, on what a flexible and inclusive workplace looks like as this is another vital ingredient in enticing people back to work.”
