The UK government is fast-tracking plans to modernise its own pensions system by broadening access to Collective Defined Contribution schemes.
CDC pension schemes were first introduced to the UK in 2022, and have the potential to deliver reliable returns for savers, while ensuring more predictable costs for employers.
Today, industry experts, savers and pension providers can have their say on new proposals to extend the current offering of CDC pension schemes to more employers, delivering better value for money for future pensioners and unlocking huge investment potential.
In Canada, the funds from pooled pension contributions are invested into a wider range of assets like infrastructure, startups and private equity – which can benefit the wider economy and boost returns.
Extending CDCs could similarly allow for greater return on investment for those saving into the schemes and allow for larger investment in the UK – supporting the Government’s growth mission to boost the economy.
Minister for Pensions Emma Reynolds said: “We are seizing this opportunity to modernise our pensions market to deliver better outcomes for millions of workers. People work hard to put money aside for their pension with every pay cheque. This significant innovation will offer a more predictable income and greater finance security for future pensioners.”
Currently only single or connected employers can set up CDC schemes, with the first scheme launched by the Royal Mail yesterday.
Building on the significant appetite from industry for extending CDC provision, the Government is now seeking to broaden access further by allowing unconnected multiple employer schemes – making this pension model more accessible to a wider range of businesses and employees.
This work builds on plans to review our pensions landscape as well as our new Pension Schemes Bill which could boost pension pots – with further consolidation and broader investment strategies to possibly deliver higher returns for pensioners.
The consultation seeks views from employers, industry experts, pension providers and the public on draft regulations and their potential impact.
The consultation will run for six weeks – running until 19 November 2024.
Mackworth Vehicle Conversion Specialists, a provider of bespoke vehicle solutions, has appointed a new team member, made a promotion, and made a significant investment in facilities.
Mackworth has welcomed Phil Taylor as the new Quality and Compliance Inspector. With over five years of experience in quality assurance from his time at Toyota, Phil brings a wealth of expertise in maintaining high standards in the automotive industry.
At Toyota, Phil was responsible for conducting 300 checks in just five minutes on a rolling road, inspecting up to 280 vehicles daily.
At Mackworth, Phil’s role will be critical in ensuring that all vehicle conversions and modifications adhere to customer specifications and industry standards. He will be responsible for performing final quality checks on completed builds, verifying that each vehicle meets the bespoke needs of customers and adheres to Mackworth’s rigorous quality assurance protocols.
Andrew Kent, General Manager at Mackworth, said: “Phil’s eye for detail and dedication to quality will play a key role in enhancing the company’s operations, ensuring that all vehicles leave the facility ready for use and in perfect condition.”
Andrew continued: “Phil’s extensive background in quality assurance and his passion for the industry make him a valuable asset as Mackworth continues to grow and develop its capabilities.”
The company has also promoted Emma Ockhuis to Customer Sales Administrator. Emma has been with Mackworth for just over 12 months, during which time she has demonstrated exceptional dedication, attention to detail, and a strong passion for customer service.
Andrew said: “Emma has a fantastic work ethic and attitude; she’s always willing to go the extra mile for the team and our customers. Her positive approach and attention to detail have been invaluable, and she’s become someone the team can always rely on. Emma is not only efficient and organised, but she always brings her smile to work, creating a friendly and welcoming atmosphere for everyone.”
As part of its ongoing commitment to enhancing the work environment, Mackworth has invested £25,000 in upgrading its workshop toilet facilities. The new installation features automatic taps, promoting hygiene and water efficiency, along with efficient hand dryers, and modern cubicles and urinals. This investment aims to create a comfortable workspace for employees, ensuring the team can operate in the best possible conditions.
Frasers Group has made three real estate acquisitions in strategic retail locations.
The Shirebrook-based business has acquired Princesshay Shopping Centre in Exeter, Fremlin Walk Shopping Centre in Maidstone, and The Olympus Centre in Quedgeley.
Covering over 600,000 sq ft and including Princesshay Shopping Centre, this retail destination for shoppers in Exeter city centre and the wider region is home to more than 60 retailers across boutique, specialist and national brands.
Fremlin Walk Shopping Centre (350,000 sq ft) is a key retail destination in the heart of Maidstone, and home to major UK high street tenants.
It is currently undergoing extensive refurbishment ahead of the opening of a multi-brand 70,000 sq ft FRASERS flagship store, offering consumers access to more brands from the Group’s ecosystem including a Sports Direct, USC, Evans Cycles, GAME and Jack Wills. A 5,000 sq ft FLANNELS store is also set to open this month.
The Olympus Centre (65,000 sq ft) is a fully-let retail park located in the Quedgeley area of Gloucester. Strategically positioned, the retail park has good access to a thriving local catchment population and has strong fundamentals as a retail destination.
The three centres see an annual footfall of almost 17 million visitors.
Michael Murray, CEO of Frasers Group plc, said: “The acquisition of Princesshay, Fremlin Walk and The Olympus Centre reinforces our commitment to investing in physical retail. Securing properties which serve as the primary retail destination for the community remains a top priority for us.
“Such acquisitions unlock new growth opportunities for our retail concepts, while revitalising high streets and physical shopping locations up and down the country. At Frasers, we strive to re-invent and elevate retail for UK shoppers, bringing the very best brands, environments, and experiences to all our customers across the country.”
Frasers Group was advised by James Keany, Executive Director, Head of National Agency at CBRE on this acquisition.
Salloway Property Consultants have been instructed by Derby City Council to sell Allestree Hall.
Set in 8.7 acre grounds and including the former stables and icehouse, the building is steeped in history and character but requires new owners to repurpose and restore the building back to its former glory.
Allestree Hall was built in the early 1800’s on land previously owned by the Mundy family of Markeaton Hall.
Commissioned by Bache Thornhill, Architect James Wyatt was instructed to build an imposing mansion within a country park setting. The Grade II* listed building was built over three storeys with Ashlar stone elevations with sash windows and a central full height bow with a foundation stone bearing the initial JW and dated 1802.
The house was used as a residence from the early 1800s up until the late 1920s with notable stewards amongst others including William Evans, Sir Thomas Williams Evans, Colonel Herbert Johnson.
In 1928 the property was sold to Commercial Constructions Limited who broke the estate up, before disposing of this in 1936. Following the onset of the wars the property was utilised by the National Fire Service as the County Headquarters, albeit conflicting reports suggest that Sherwood Foresters Regiment occupied the property during a similar period.
In 1946 Derby City Council acquired the hall and subsequently converted some of the grounds into an 18-hole golf course. In November 2020 the golf course closed with the land returned to nature to become the UK’s largest urban re-wilding project.
The picturesque setting and scale of this property means that there is great potential in what the building could be utilised for and, subject to meeting the necessary planning and listed building requirements, Salloway believe that the building may be adaptable for educational, office, leisure and recreational or residential use.
“We went live with the property on Friday afternoon and given the volume of enquiries and requests for further information we are looking to conduct block viewings with an intention to draw interest to a close, by late October/early November,” said Chris Keogh, Associate Director, Salloway.
Sutton Community Academy’s theatre has now been stripped out ready for refurbishment works to begin.
The works are part of Ashfield District Council and Sutton Community Academy’s plans to upgrade the theatre, which will be rebranded and opened to the public as Cornerstone Theatre. The project is being funded as part of the Council’s £6.27m Future High Streets Fund, and is central to their plans to revitalise Sutton town centre.
The new theatre, which is due to be completed mid-2025, will allow residents and visitors to watch professional theatre performances, cinematic experiences, music and comedy nights in the heart of Sutton. Students at the college will continue to use the theatre for their performances and will give them valuable experience in a high-quality facility.
Cllr Matthew Relf, Executive Lead for Growth, Regeneration, and Local Planning, said: “This project will help us achieve our goals of creating a vibrant and safe night-time economy in Ashfield. We are so proud to be investing in arts and culture, to allow more people of all backgrounds, young and old, in Ashfield and beyond to experience the magic of cinema, live theatre and music right here on their doorstep.
“All our regeneration projects, funded through over £100million external investment, have the common aim – to create an Ashfield that is a great place to live, work, play, study and visit.”
New dressing rooms and a green room, toilets – including a changing places room – foyer and box office will be created to accommodate the improved theatre. Inside the theatre itself the auditorium will be completely refurbished with new flooring, ceiling, acoustic wall treatments and doors.
A new retractable seating system will provide seating, and specialist lighting will also be installed. Considerations are being made to ensure the theatre will be an accessible space for staff, performers, and the audience.
Simon Martin, Vice Principal at ATTFE, said: “ATTFE is hugely excited to be involved in the inception and the future running of the Cornerstone facility. Sutton-in-Ashfield and the surrounding area has long needed investment in and opportunities for cultural experiences of all sorts, and Cornerstone will provide these for the direct communities, neighbourhoods, and families that we serve.”
Leicester-based WBR Group, the independent provider of SSAS services and tax experts, has sponsorsed the Navali Navratri event organised for the fourth consecutive year by the Saarthi Charitable Foundation.
Navali Navratri, a nine day Hindu festival dedicated to the Goddess Amba, celebrates the triumph of good over evil and special events will take place on Friday 4th, Saturday 5th and Sunday 13th October.
The festival events, which started on Friday, are being held at the sports centre at Rugby College on Technology Drive.
WBR Group’s support for this event is particularly meaningful as one of their own, Dimple Joshi, is the driving force behind both the charity and the events.
Dimple’s journey into charitable work began in 2019. To celebrate her exam success, her parents made a significant donation to the Guria Foundation Charity in India, which aids children suffering from exploitation.
Dimple Joshi, WBR Group, said: “I couldn’t think of a better way to celebrate my exam success than by helping others and my parents were in a fortunate position to be able to do this. I dedicate all of this to them. They chose the Guria Foundation as its purpose is to provide aid for children suffering exploitation.
“Wanting to ensure their donation made a genuine impact, as a family we spent time with the Charity’s founder, interacted with workers, and connected with the children benefiting from the foundation’s work. This experience had a lasting impact on me. I was overjoyed to be able to see their work and the time we spent with the children was priceless and left us feeling that we had made a meaningful impact on young lives.”
Inspired by this experience, Dimple and her parents founded Saarthi, a registered charity dedicated to supporting various initiatives and touching many lives.
The name “Saarthi” roughly translates as someone steering a chariot. The word represents guidance, leadership, and participation in a significant journey.
Saarthi aspires to embody these values by assisting individuals in need across India and being part of their lives.
Dimple added: “This is just the beginning for the charity, and we hope that it will continue to grow and bring real, tangible benefits to people. There is a lot of work ahead and we are looking forward to providing much needed help and support for the people in India and elsewhere.
“The charity will assist in making changes to the life outcomes of the many people it supports. Our goal is to expand our reach to as many people as possible in the future.”
The organisers of Navali Navratri have expressed immense gratitude for WBR Group’s continued support through generous donations.
Tom Moore, CEO of WBR Group, said: “At WBR Group, we believe in the power of giving back and supporting communities both locally and globally.
“Our involvement with Saarthi and the Navali Navratri event is a testament to our commitment to making a positive impact. We are proud to support such a meaningful cause that not only celebrates cultural heritage but also brings tangible benefits to those in need.
“As we look forward to launching our own charitable foundation, we are excited to continue expanding our support for diverse charitable initiatives, with Saarthi being a shining example of the difference we aim to make.”
The Competition and Markets Authority (CMA) has cleared Leicestershire-based housebuilding giant Barratt’s £2.5 billion purchase of rival Redrow Homes.
It follows the CMA concluding a Phase 1 investigation into the deal, where it found an area of concern regarding the supply of new build private residential housing in Whitchurch and Nantwich.
The businesses each have major, competing, developments in one of the towns and have agreed to sell remaining homes through an independent agent, with Savills appointed for this.
Moreover, a monitoring trustee and an independent professional quantity surveyor will be appointed to monitor and oversee the merged entity’s compliance with commitments including that unbuilt houses and unbuilt infrastructure in Redrow’s Kingsbourne development in Nantwich are constructed to Redrow’s quality standards and completed in a timely manner; and that aftersales services are provided to all homebuyers to a level meeting or exceeding Redrow’s pre-merger standards.
The CMA has now published its acceptance of Barratt and Redrow’s undertakings and will not be referring the acquisition to a phase 2 investigation.
Barratt will commence the integration of the businesses.
David Thomas, CEO of Barratt, said:“Today is a significant milestone for Barratt Redrow, as we come together as one organisation. With this combination, we have created an exceptional housebuilder in terms of quality, service and sustainability, able to accelerate the delivery of the homes this country needs.
“Together, we offer a broader range of homes and price points for our customers who we will continue to put at the heart of everything we do. Our focus now is on integrating our businesses as efficiently and effectively as we canto deliver the expected benefits of the Combination.
“We will leverage the best of both companies to deliver significant benefits to our people, our customers and our supply chain partners, and ensuring that Barratt Redrow is set up to deliver long term value to all of its stakeholders.”
Midlands Connect believes that if the rail link is constructed between Coventry, Leicester and Nottingham 3,000 roles will be created during the lifetime of the construction and in the supply chain.
This peaks in 2031 at around 850 and averages at around 400 every year. The majority of the roles predicted are skilled occupations in engineering, operatives or project management.
The company also believes 70 apprentices could be recruited and trained over the course of the programme.
A spokesman said: “Over the course of the seven-year project, linking Coventry, Leicester and Nottingham by rail could generate an additional £68m in economic value as a result of jobs created in both of the Midlands, and nearly £11m in Social Value benefits – which include environmental benefits, wellbeing benefits and social benefits. This is on top of the traditional transport and wider economic benefits outlined in the business case, which amounted to £170m at the last update.
“Journey times along the route would be cut significantly, with trips from Coventry to Leicester falling from 54 to as low as 30 minutes, with trips from Coventry to Nottingham falling to around 65 minutes. Loughborough and East Midlands Parkway could also have new, direct and more frequent links to Coventry.”
Currently, just 3% of trips between Coventry and Leicester are made by train; compared to 30% of journeys made between Coventry and Birmingham.
Average speeds for trains between Coventry and Leicester currently fall under 30mph, compared to average speeds of over 100mph for trains from Coventry to London.
Andrew Clark, Integrated Transport Programme Lead at Midlands Connect said: “This project is so much more than just a rail scheme, it will create high-skilled and high-paid jobs, grow our economy and kick-start careers, thanks to the creation of apprenticeship roles.
At the moment it can take up to 70 minutes to travel less than 25 miles between Coventry and Leicester, and passengers have to change trains halfway – it’s simply not good enough – our plans will fix that and link key Midland cities, once and for all.”
Sir Peter Soulsby, City Mayor of Leicester said: “This project is a priority for the Council. It will allow people to travel easily between Leicester and Coventry. Only 3% use the train now as there is no direct service, leading to high car use, on congested roads.
“The creation of high-skilled, high-paid jobs, is a bonus, as is the creation of apprenticeship roles, kick-starting careers. This all helps to deliver a stronger economy as well as social value benefits to our local community.”
With the upcoming budget expected to bring significant changes, Jennie Brown, tax partner at Streets Chartered Accountants, considers what may be on the way.
The October budget is right around the corner. It could bring major changes to a whole range of estate planning taxes, especially Inheritance Tax (IHT) and Capital Gains Tax (CGT). Set down are some thoughts, identifying possible changes that might be on the way and how they might impact on your personal wealth and the financial well-being of your family. If you’re serious about protecting your wealth, it’s time to brace yourself. Here’s what might change:
Inheritance Tax: changes are widely expected
The government could be eyeing cuts to IHT reliefs, which may reshape your estate planning strategies. Here’s where the biggest impacts may lie:
Increasing IHT rates
An easy win for the Chancellor in terms of raising revenue would be to increase the rate of IHT in relation to very substantial estates. A death tax rate of 40% is relatively low. There is no reason why a gradated rate could not be introduced, which imposes softer rates on smaller estates as well as higher rates of tax, up to say 55%, for the largest estates. In the past the highest rate of IHT was 60%, and in relation to Capital Transfer Tax, which was the precursor to IHT, it was 75%. In the press there has been speculation as to the fairest way to tax billionaires. This might be something on the Chancellor’s agenda.
Business Property Relief (BPR):
BPR has been a lifeline for business owners, letting them pass on business assets with significant tax relief. It has been the envy of owner managed business owners in other countries. But many people do not realise that the rate of tax has not always been a maximum of 100%. Various restrictions have been lifted over the course of time, and it is possible that some sort of financial ceiling limits might be imposed where there are substantial BPR holdings. There is a wealth of difference between the owner of a relatively modest OMB and where someone owns a stake in a major financial enterprise. Hence there are growing concerns that the government may reduce this benefit, potentially leading to higher tax bills for their heirs.
Agricultural Property Relief (APR): could farmers get taxed more?
APR offers tax breaks on agricultural assets, but this relief might also face cutbacks. For farmers and landowners, this could result in steeper IHT liabilities. It is well known that some oppose the purchase of farms by wealthy investors, who secure valuable IHT reliefs leaving others to farm the land for them whilst living in substantial mansions. This could well be an area where changes may be introduced. One possibility would be to a put a financial cap on the maximum relief available in relation to a farmhouse.
Nil Rate Band and Residence Nil Rate Band: are limits changing?
Again, there has been widely trailed criticism of residence nil rate band relief. This can be worth as much as £140,000 in money terms where husband and wife are concerned. A left wing think tank has urged the Chancellor to scrap the availability of the relief to raise £2bn. In practice, she might be tempted to reduce the level of relief on the basis that the current level disproportionately favours those in the South of the UK as compared to the North.
Capital Gains Tax: what’s on the line?
CGT could see significant changes too, which might affect anyone looking to sell assets or investments. Here’s what to be aware of:
CGT rate hikes: sell now or risk higher rates
There’s speculation about a potential CGT rate hike. This could mean higher taxes on property or investment sales. The difference between the maximum rate of tax on income and capital profits is very marked. You might need to act fast if you were planning a sale to lock in the current rates. From the Chancellor’s point of view, the fallacy in aligning tax rates to a 45% maximum has an inherent fallacy. Individuals may simply decide to retain their investments, such as development land, until such time as the rates come down. Also, proprietors of owner managed businesses might be deterred from selling. The Chancellor will have to take into account the knock on effect of any tax increases as it might put a brake on future economic activity. It’s a potentially difficult tightrope for the Chancellor to walk, as raising taxes might deter future growth.
CGT reliefs: will entrepreneurs lose out?
Key reliefs like Business Asset Disposal Relief (formerly Entrepreneurs’ Relief) and Investors’ Relief could be scaled back, increasing the tax burden on business owners and investors when selling assets. In practice it is probably too late to consider starting transactions to save CGT this close to the Budget. It is simply a factor for proprietors of OMBs to consider, unless they are actively considering making gifts to family members in any event and can afford to pay the CGT due on the disposal albeit at 10%.
Anti-Avoidance Crackdowns: be aware of possible anti forestalling
It is important to take into account the possibility that the Government may announce new rules designed to limit the tax saving opportunities that would arise by making disposals in advance of the expected tax increases in the Budget. This suggests that only disposals should be made which are prudent in terms of their size and nature. There is also a long-term factor that needs to be taken into account, in that the number of anti-avoidance rules are more likely to increase than reduce in light of the Government’s drive for increased tax revenue.
Post-Budget: a brave new world?
The upcoming budget could bring significant changes to estates and businesses. It is going to be important to take stock of both the opportunities as well as the challenges that new rules will introduce.
To find out more about how the Autumn Budget 2024 might affect you, why not register to watch or catch up on demand our post Budget webinar.
https://www.streetsweb.co.uk/about/events/autumn-budget-2024-what-will-it-mean-you/See this column in the October issue of East Midlands Business Link Magazine, here.
Motorpoint Group, the Derby-based independent omnichannel vehicle retailer, has returned to profit.
According to a half year trading update for the six months ended 30 September 2024 (H1 FY25), profit before tax is expected to be £2m, improving from a £3.7m loss in the same period of last year.
Meanwhile, the businesses saw strong retail volume growth of 17% in H1 FY25 compared with H1 FY24.
It comes as the firm highlights easing macroeconomic headwinds in H1 FY25, used car prices and margins remaining broadly stable and customer sentiment improving.
Mark Carpenter, Chief Executive Officer of Motorpoint Group PLC, said: “The resilience of the Motorpoint business model has been proven once again and I am delighted to confirm that the successful execution of our Brilliant Basics programme during FY24, alongside the easing of macroeconomic pressures, has resulted in a return to profitability.
“We also welcomed the first interest rate cut in August, the same month that we achieved our highest performing retail volume since March 2022.
“This solid performance in the first half of the year stands us in good stead as we look to progress our strategy to accelerate growth, and I would like to thank our incredibly hardworking colleagues for what they have delivered so far this year. I am confident that we are entering the second half with strong momentum.”
Derby’s new City Centre Design Guide (CCDG) has launched for public consultation, inviting both built environment professionals and local residents to share their views.
Created by Urban Initiatives Studio on behalf of Derby City Council, and funded by Homes England, the CCDG outlines a vision for a vibrant and sustainable city centre, ensuring that new developments, public spaces, and residential areas enhance the evolving and ambitious city centre and support its long-term growth.
The guide follows on from the ‘Towards A New Vision for Derby City Centre Ambition’ document, published in 2022, which highlighted the need to improve the design quality of the city centre and to meet the needs of its growing population.
The aim of the CCDG is to ensure that new building developments, public spaces, and residential areas all contribute to Derby’s unique character and sustainability. Divided into two sections, the first section of the guide offers general design principles for developers.
The second section offers comprehensive design guidance specific to the different character areas of the city centre. It further provides guidance on building scale, land use, movement, facades, public spaces, and green infrastructure.
Councillor Nadine Peatfield, Leader of Derby City Council and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said: “We encourage everyone to take part in the consultation and to have their say on the future of our beautiful city.
“The launch of the new City Centre Design Guide marks an exciting time for the future of Derby’s city centre. It is an essential part of our long-term strategy to turn the city centre into a vibrant, welcoming place with high-quality sustainable developments where people can live, work and spend their free time.”
Built environment professionals and members of the public are invited to give their feedback on the new CCDG. Two surveys have been created on the Let’s Talk Derby website with the first asking for general, anonymous views. The second survey aims to record comments on specific sections of the guide and is not anonymous.
Drop-in sessions will be held at the City Lab, in Derbion, where council officers, who are working on the project, will be present between 10am and 4pm.
The sessions will be held on Tuesday 22 October and Wednesday 13 November.
The deadline for feedback is 5pm on Monday 13 January 2025.
Funded training courses are being offered to Chesterfield’s manufacturing and engineering sector to support recruitment and growth.
A new initiative – known as Manufacturing Futures – will teach mentoring skills to businesspeople from the sector to help firms engage with young talent. This programme will empower companies to offer more work experience opportunities, confidently take on apprentices and interns, and provide career advice to young people.
The concept emerged at a Manufacturing and Engineering Forum organised by Destination Chesterfield which identified recruitment challenges in the sector. In fact, recent data indicates that 66% of businesses attempting to recruit in the past three months have struggled to find suitable candidates.
With manufacturing comprising 8% of Chesterfield’s workforce — nearly double the national average — it’s crucial to inspire and equip the next generation with the skills needed to drive local manufacturing forward.
Training sessions for new business mentors will be held in a dedicated learning space provided by United Cast Bar, with Chesterfield College hosting the sessions.
Manufacturing Futures was launched alongside the tenth edition of Made In Chesterfield, an annual festival supported by The Chesterfield College Group offering tours of local manufacturing, engineering, and construction businesses to school pupils, showcasing the diverse career opportunities available in the sector.
Ivan Fomin, Managing Director of MSE Hiller and Board Member of Destination Chesterfield, said: “I urge all businesses in the Manufacturing and Engineering sectors to participate in this exciting new project. While progress has been made in encouraging young people to pursue STEM careers, there is still much work to be done.
“By equipping businesses with the skills to mentor and develop talent from local schools and colleges, we can continue to close the skills gap and ensure our local firms remain vibrant and successful.”
Councillor Tricia Gilby, Leader of Chesterfield Borough Council and cabinet member for economic development, said: “Chesterfield has a proud tradition of engineering and manufacturing, but we need to ensure this sector can continue to grow and provide new opportunities for our residents.
“I’m pleased that we have been able to fund this programme as it will help people advance their careers and support our residents to take up roles in this sector in the future.
“Working in partnership with businesses and education providers is key to ensuring this programme is effective and provides the support the sector needs.”
The programme is funded through the UK Shared Prosperity Fund and is one of several skills programmes to receive funding which will help ensure local residents can advance their career and that the local economy can grow.
This is just one of a range of projects and initiatives which is being funded through the UKSPF, after Chesterfield Borough Council was successful in securing £2.6 million from the Government. It will fund initiatives, until 2025, which are designed to improve life for local people and support local businesses.
Good Energy Group, the renewable electricity supplier and innovator in clean energy services, has acquired Amelio Solar, a Lincolnshire-based solar installation company.
The acquisition represents a further step in delivering on Good Energy’s strategy to expand its capability in decentralised energy services by significantly expanding its geographical presence in the solar installation market. Amelio Solar has established operations in Lincolnshire and the north of England.
Amelio Solar has built a reputation for delivering rooftop solar solutions for businesses, education and public sector entities. This builds upon Good Energy’s current offering, that is weighted to domestic installation, and is in line with the company’s vision of powering a cleaner, greener future by making it simple to generate, use and share clean energy.
Good Energy has acquired 100% of the issued share capital of Amelio Solar on a debt-free, cash-free, basis for an initial consideration of £5.5 million, payable in cash upon completion. Further deferred consideration of up to £0.5 million may become payable in cash in the first quarter of 2025, subject to Amelio Solar achieving gross profit targets for the year ending 31 December 2024.
For the financial year ended 31 December 2023, Amelio Solar reported revenue of £7.1 million and profit before tax of £1.4 million.
Richard Jones, Amelio Solar founder and Solar Energy UK board member, will remain employed to support the post-acquisition transition and integration period.
Nigel Pocklington, CEO of Good Energy, said: “Amelio Solar is a perfect fit for Good Energy as we continue to grow our clean energy service offerings, especially in the commercial and public sectors where demand for solar installations remains strong and less susceptible to the cyclical fluctuations seen in the domestic market.
“Amelio Solar’s proven ability to deliver large, complex solar projects will enable us to better support businesses and public sector bodies in cutting their carbon emissions, while positioning Good Energy as a leader in commercial solar solutions.”
Specialist business property adviser, Christie & Co, has sold a development site in Nettleham, Lincolnshire, which benefits from planning permission for a 65-bedroom care home.
Care home developer, Frontier Estates, secured the planning consent for a ‘specialist 65-bedroom dementia care home’ development scheme (Use Class C2) inclusive of 100 per cent en suite bathrooms and accommodated over 2.5 storeys. The site sits on a circa 1.4-acre plot in the Lincolnshire village of Nettleham.
Following a sales process with Jordan Rundle and Sara Hartill at Christie & Co, it has been purchased by care provider, Country Court, which plans to complete construction in 2026.
Matt Croger, Land Director at Frontier Estates, said: “Nettleham is an attractive village with good transport links to Lincoln that doesn’t currently have any care facilities. Through the planning process and with the positive feedback from local residents and businesses, Frontier and the Council both recognised that this would be a great scheme appreciated by the community.
“Country Court is an excellent operator with an exciting development pipeline who we look forward to working closely with. Frontier is very pleased to have passed the scheme in Nettleham on to them and looks forward to it being a hub of the community once built.”
Al-Karim Kachra, Co-CEO at Country Court Care, said: “We’re pleased to secure an excellent site and expand our presence in Lincoln and surrounding areas. We hope to be on-site by the end of Q1 2025 with a view to opening in late 2026.”
Jordan Rundle, Director – Healthcare Investment & Development at Christie & Co, said: “Nettleham presents a superb opportunity for a newbuild care home, underpinned by strong affluence indicators for the area.
“The site itself benefits from a highly prominent roadside location and will provide the local community with a state-of-the-art care facility. Following several other planning approvals this year, Frontier Estates has secured another excellent consent in what continues to be a challenging planning environment.
“With a significant presence in the region already, Country Court Care will be exceptionally placed to deliver outstanding care for the growing need of Lincolnshire’s elderly demographic.”
The development site was sold for an undisclosed price.
With the East Midlands Bricks Awards over for another year, the event can now be re-lived through a new video of the evening.
Property and construction professionals from across the region gathered last week (Thursday 3rd October) at the famous Trent Bridge Cricket Ground for Business Link Magazine’s annual event.
Recognising and celebrating those behind the changing landscape of our region, rewarding the very best companies, teams and individuals, the occasion offered the perfect opportunity to showcase the outstanding work carried out across the East Midlands over the past year and network with many of the region’s industry leaders over nibbles and complementary drinks.
Attendees also heard from Paul Southby – chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, and former High Sheriff of Nottinghamshire – who kicked off the event with the keynote speech.
Watch the event and see the list of winners below.
Nick Pettit, Tim Hubner, Chris Sharman
Commercial Development of the Year – sponsored by Global HSE Group
Winner
G F Tomlinson – The Air and Space Institute, Newark
Runners up
Brackley Property Developments – The Dock Extension, Leicester
Pick Everard – Nottingham Central Library
Darren Chapman and Ed Tripp
Contractor of the Year – sponsored by EMEC Ecology
Winner
Clegg Construction
Runners up
Cawarden
Winvic
Robert Maxey and Simon Prescott
Deal of the Year – sponsored by Tutum Consulting
Winner
heb Surveyors – The Oaks, Mansfield
Runners up
FI Real Estate Management – The Quad, Chesterfield
Freeths – Former Boots factory site, Beeston
Mark Macmanard, Ryan Pritchard, Conor Garvey
Developer of the Year – sponsored by IMA Architects
Winner
Vistry Group East Midlands
Runners up
Indurent
Wavensmere Homes
Jo Plant, Jonathan Plant, Richard Evans, William Crooks
Excellence in Design – sponsored by Cawarden
Winner
Distinctive Developments – Woodwell and Meadow Barn
Runners up
G F Tomlinson – The Air and Space Institute, Newark
Design Haus – Musters Road
Lisa Osborne-Biesty and Alex Edmeades
Most Active Agent – sponsored by Roy Geddes Bricks
Winner
Rigby & Co
Runners up
FHP Property Consultants
Salloway Property Consultants
Steve Fisher and Amy Biddell
Architects of the Year – sponsored by Mather Jamie
Winner
Matthew Montague Architects
Runners up
IMA Architects
Design Haus Architecture
Jo Plant, Jonathan Plant, Richard Evans, Iain Hibbert
Residential Development of the Year – sponsored by Devello
Winner
Distinctive Developments – Woodwell and Meadow Barn
Runners up
Phoenix Brickwork UK LTD – IQ Nelson Court
Chevin Homes – Chevin Close
Richard Varney and Greg Simpson
Responsible Business – sponsored by Press for Attention PR
Winner
Stepnell Ltd
Runners up
Cawarden
Cora
Clare Swaine, Ian Taylor, John McKay
Sustainable Development of the Year – sponsored by Viridis Building Services Ltd
Winner
Henry Brothers Construction Ltd – Alfreton Park School
Runners up
CPMG – Sir Peter Rubin Centre for Veterinary Education
Keepmoat – Gedling Green
Jo Plant, Jonathan Plant, Andy Sawyer, Richard Evans
Overall Winner –sponsored by Blueprint Interiors
Distinctive Developments
See the event in the images below, taken by Richard Picksley.
1 of 46
Lisa Osborne-Biesty and Alex Edmeades
Mark Macmanard, Ryan Pritchard, and Conor Garvey
Richard Varney and Greg Simpson
Nick Pettit, Tim Hubner, Chris Sharman
Jo Plant, Jonathan Plant, Andy Sawyer, Richard Evans
Robert Maxey and Simon Prescott
Jo Plant, Jonathan Plant, Richard Evans, Iain Hibbert
Steve Fisher and Amy Biddell
Clare Swaine, Ian Taylor, John McKay
Darren Chapman and Ed Tripp
Jo Plant, Jonathan Plant, Richard Evans, William Crooks
Winners and sponsors at the East Midlands Bricks Awards 2024
Thanks to all our sponsors for supporting the East Midlands Bricks Awards 2024. Business Link Magazine looks forward to returning next year for the East Midlands Bricks Awards 2025!
Nottingham-headquartered software company, Ideagen, has signed a partnership with Virgin Voyages to enhance the health and safety of all guests and crew on board their global fleet of luxury cruise liners.
The partnership, incorporating Ideagen’s specialist maritime safety solution, Ideagen Tritan, creates one of the most comprehensive medical management agreements in the industry.
Ideagen will provide Virgin Voyages with complete end-to-end support to ensure passenger and crew wellbeing, from electronic health record management and global medical support through to pre-employment medical examination, claims, administrative services and case management.
Ideagen will work closely with Virgin Voyages to deliver not just innovative bespoke services but also technology and customized software that meets their specific needs.
As well as providing a more comprehensive and streamlined health, safety and wellbeing service to all guests and crew, the collaboration will benefit from Ideagen’s global regulatory expertise, providing complete confidence that the company is fully compliant within the ever-evolving healthcare landscape.
This offers significant opportunities to raise the quality of care and improve service levels with lower fixed costs generating new revenue streams.
Ben Dorks, CEO of Ideagen, said: “We know that the primary concern of our cruise and commercial maritime customers is the safety and wellbeing of their people – whether that’s holiday makers or team members.
“We’re therefore delighted to be supporting Virgin Voyages navigate the complexities of ensuring safety at sea, strengthening the measures they already have in place, but also streamlining the full process of medical management to bring efficiency benefits while maintaining the high standards their customers expect.”
Sally Barford, Associate Vice President of Medical and Procurement Partnerships at Virgin Voyages, said: “We are excited to partner with Ideagen. As Virgin Voyages expands in 2025 with new itineraries, destinations and the delivery of its fourth ship, Brilliant Lady to the fleet, Ideagen Tritan offers an extended network to support all our medical requirements.
“This partnership will ensure that we continue to offer our Sailors the best medical care and support at sea.”
Clowes Developments (UK) Ltd have confirmed retail operators, Starbucks, KFC and Greggs are coming to Viking Park in Congleton.
Construction has already begun as Roe Developments have initiated works on three retail units.
The roadside convenience offering at Viking Park will consist of a detached 1,850 sq ft Starbucks drive through facility at the front of the plot.
Adjacent to Starbucks will be a semi-detached unit totalling 3,200 sq ft which will house a KFC and Greggs. At the centre of the plot there will be a parking facility for up to 38 vehicles, including 4 EV charging stations for added convenience of passing trade.
The retail units are located directly off Barn Road which runs through the centre of Viking Park connecting Congleton town to the A536 link road. Starbucks, Greggs and KFC will sit next to the brand-new Aldi store which officially opened to the general public in October 2024.
Marc Freeman, Director, Clowes Developments (UK) Ltd, said: “It’s good to see that the roadside convenience offering is now under construction on site at Viking Park. We feel that a Starbucks ‘drive thru’, KFC and Greggs will be a welcomed addition to the business park.
“Following the successful opening of Aldi back in October, it’s refreshing to watch Viking Park take shape. Our construction contractor, Roe Developments, will also be starting to construct a standalone 20,000 sq ft unit for a yet to be named retailer. We anticipate all units will be open for business by the summer of 2025.”
Elsewhere on the mixed-use scheme, residential developer, Bloor Homes, are progressing well with the construction of their homes. On completion, Viking Park will deliver up to 175 homes, a 20,500 sq ft supermarket/roadside convenience, as well as 36,800 sq ft office facilities and 219,500 sq ft of industrial units.
East Midlands’ politicians are calling for government funding to help bring forward the Chesterfield Staveley Regeneration Route (CSRR), to ensure a once-in-a-lifetime opportunity to revitalise several former north Derbyshire mining communities is not missed.
The proposed 6km road would unlock the development of the former Staveley Works site for new housing, commercial units and community spaces, and also the former Staveley Chemical Works site for employment uses. Investment in the new road would also align with many of the projects currently being delivered through the £25.2 million Staveley Town Deal.
Chesterfield Borough Council’s leader, Councillor Tricia Gilby, was joined by local MPs Toby Perkins (Chesterfield) and Louise Jones (North East Derbyshire), plus officer representatives from Chesterfield Borough Council and Derbyshire County Council, and landowners Harworth Group and The Devonshire Group, on a recent site visit to discuss the enormous potential of the Staveley Growth Corridor in terms of new homes, new jobs, a new primary school and new leisure opportunities centred on the Chesterfield Canal.
Harworth Group and The Devonshire Group have both submitted planning applications to Chesterfield Borough Council to develop their respective parts of the former Staveley Works site, which if fulfilled could generate an additional £205 million of spend per annum into the local economy. In addition, The Devonshire Group is exploring how it can redevelop the adjacent former Staveley Chemical Works site for employment uses.
These proposals are dependent on the delivery of the Chesterfield Staveley Regeneration Route, which if constructed will also unlock other regeneration and development opportunities in the Staveley area, relieve road congestion and improve air quality.
The former Staveley Chemical Works site together with the former Hartington Colliery site are also earmarked for inclusion in the proposed East Midlands Investment Zone – where the priority will be to attract new green technology and advance manufacturing businesses and create new high-quality jobs for local people.
Funding for the road project is currently being considered by the Department for Transport.
Many of the region’s political leaders have signalled their support for the new route and the regeneration that would be unlocked by it, including East Midlands Combined County Authority Mayor Claire Ward, who visited the site in July.
Toby Perkins MP said: “The Chesterfield Staveley Regeneration Route is vitally important to the regeneration of Staveley and alongside improving traffic flows for everyone, it is likely to lead to thousands of new jobs and hundreds of new homes.
“It is important that money is found to complete the detailed land investigation work which is needed to provide certainty on the costs of the clean-up and construction. And after that we need confirmed approval that the funding for the road will be made available.
“I will be stressing the importance of this to the new Roads Minister, Lilian Greenwood, alongside our new Mayor Claire Ward and other local politicians and business leaders.”
Louise Jones MP said: “There is huge potential for the Regeneration Route to unlock the homes and jobs that our community needs. I’m determined that we grab this opportunity with both hands – I’ll be working with Toby Perkins, Claire Ward and our local councils to secure the funding we need to get the project up and running.”
Councillor Tricia Gilby, leader of Chesterfield Borough Council, said: “We couldn’t be better placed to realise the enormous potential of the Staveley Growth Corridor. The public and private sector are fully aligned in terms of their shared commitment to delivering 1,300 new homes and separately building a commercial estate that will support the creation of 6,400 new jobs over a five to ten-year horizon.
“Our collective ability to do this is however reliant on government support for the Chesterfield Staveley Regeneration Route and trying to secure this is a priority action. It is therefore very encouraging to have the full support of our local MPs and East Midlands Mayor Claire Ward.
“We want Chesterfield to be a thriving borough and working together as partners we have a once-in-a-lifetime opportunity to deliver long-lasting change and future prosperity for communities that are still recovering from the decline of mining and other traditional industries.”
Councillor Carolyn Renwick, Derbyshire County Council’s Cabinet Member for Infrastructure and Environment, said: “The Chesterfield Staveley Regeneration Route is one of the most significant economic growth opportunities in the East Midlands.
“It has the capacity to deliver the government’s growth agenda by reclaiming brownfield land and facilitating forward jobs, homes and environmental benefits at scale, ensuring an old industrial site is brought back to life.
“With our partners, Chesterfield Borough Council, Harworth Estates and The Devonshire Group, we want to work with government to deliver this transformational investment that will bring widespread benefits to communities along the Staveley Corridor and join the dots with other strategic investments in Chesterfield and across Derbyshire’s northern growth zone.”
Jo Neville, Harworth Group’s regional head of planning, said: “The walkaround the site and the previous visits from the East Midlands Mayor earlier in the summer show real commitment from the region’s leaders to addressing local housing need and creating opportunities for communities.
“We’re looking forward to continuing to work with our partners in Chesterfield to deliver at Staveley Works and hope the government recognises the strategic case for investing in this part of the country as part of its national growth agenda.”
Andy Byrne, Group Property Development Director at The Devonshire Group, said: “We are committed to helping bring the successful regeneration of this once thriving industrial heartland to fruition, so it is reassuring to see and hear the continued support of local politicians.
“With plans submitted and the support from local stakeholders, we’re raring to get started, so all that’s left is commitment from the Department for Transport to help deliver the new route and unlock this once-in-a-generation opportunity.”
Marketing agency, MacMartin, has acquired The Marketing and Leadership Academy (TMLA). New owners, Claire MacDonald and Anna Hutton, are working closely with local marketing leaders to develop and deliver the professional qualifications across Derbyshire.
The Chartered Institute of Marketing is globally recognised as the largest and most prestigious professional marketing institution. Its courses and qualifications are widely respected and serve as the global standard for marketing qualifications. With this acquisition, TMLA remains the sole accredited CIM study centre in Derbyshire, now aligned with the newly introduced CIM syllabus.
TMLA will offer two core qualifications: the Certificate in Professional and Digital Marketing (level 4) and the Diploma in Professional and Digital Marketing (level 6). Both courses are designed for completion within nine to twelve months, with the option for students to enhance their expertise further by enrolling on individual modules to achieve an extended qualification. The courses will be delivered live during online evening classes, supported by expert tutors, ensuring flexibility and accessibility for all students.
These qualifications are designed to support individuals at every stage of their career journey – whether they are starting out and looking to build foundational knowledge, or are seasoned professionals aiming to deepen and consolidate their expertise. MacMartin is committed to ensuring that TMLA’s offerings appeal to a diverse range of professionals.
“We are delighted to welcome the esteemed team of tutors at TMLA, whose expertise will be instrumental in driving the future success of the training provider,” said Claire MacDonald, MacMartin’s Creative Director. “While MacMartin and TMLA will continue to operate as separate entities, we see immense potential for synergy. MacMartin will stay at the forefront of industry practices, leveraging the insights gained from TMLA, while TMLA students will benefit from the real-world experience our team brings.”
MacMartin also aims to foster long-term partnerships with local businesses, providing training solutions that support the development and upskilling of marketing teams across the Midlands. This acquisition marks a significant step in MacMartin’s mission to support the next generation of marketing professionals.
Leicester-based watch retailer, The Watches of Switzerland Group has acquired watch publication Hodinkee.
“The Watches of Switzerland Group prides itself on its adeptness in the retail industry. From our now common practice of lifestyle-oriented showrooms, starting with the opening of our Watches of Switzerland SoHo flagship, to our expansion with the acquisitions of Analog:Shift, Betteridge, Roberto Coin and more, the Group stays at the forefront of the luxury industry,” says Brian Duffy, CEO of the Watches of Switzerland Group.
“As part of this strategy, we align ourselves with brands who inspire us, and whose partnership offers a mutually beneficial outcome. Hodinkee distinguishes itself in the world of horology, and while our goal is to provide Hodinkee with a home to continue to flourish, we are proud to gain valuable insights from their groundbreaking team and operation.”
As part of the acquisition, Hodinkee founder, and former CEO Ben Clymer will return to his leading position for the company, for the first time since 2020. Hodinkee’s New York City-based headquarters will continue in its current location, with all staff remaining on to help realize the brand’s mission of being the foremost destination for all things in the world of horology, making watches and information about them accessible to all.
“At its core, Hodinkee was founded on a passion for watches that has never wavered. Brian Duffy and David Hurley, both of whom I’ve known for the better part of a decade, share the passion that launched Hodinkee,” says Ben Clymer, Hodinkee Founder and Chief Executive. “I’ve seen how they have disrupted the watch retail world at scale, and I am honored to align Hodinkee with Watches of Switzerland. I genuinely can’t wait for the future.”
Hodinkee will run independently as an editorial media organization under the Watches of Switzerland Group umbrella.
“We have respected the Hodinkee team for many years and have watched Ben transform the watch industry by building one of the pioneering forces in the global world of watches,” says David Hurley, Deputy CEO of the Watches of Switzerland Group. “With a shared paradigm-shifting approach, the Group is thrilled to be working hand-in-hand with Ben and his team to help realize the next phase of Hodinkee.”
The Watches of Switzerland Group will also acquire functions behind Hodinkee’s Insurance. In partnership with Chubb, the insurer of valuable collections, Hodinkee offers protection for watches and jewelry. PJT Partners acted as the exclusive financial advisor to Hodinkee.
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