Boyes relocates to 30,000 sq ft former Wilko unit in Newark
Surge in University of Nottingham spin-outs fuels innovation
UK fusion energy project set to boost economy with thousands of jobs
A new economic impact assessment predicts significant long-term financial benefits from the UK’s prototype fusion energy power plant, STEP, set to be built in West Burton, Nottinghamshire. The project, led by UK Industrial Fusion Solutions Ltd (UKIFS), part of the UK Atomic Energy Authority (UKAEA), is expected to be operational by 2040 and drive economic growth through job creation and investment.
The report forecasts that the construction phase will generate over 1,000 jobs annually in Nottinghamshire, adding £86 million annually to the local economy. Once operational, the facility is expected to create 2,760 jobs annually, contributing £210 million per year. Across the East Midlands, the total impact is estimated at nearly 3,000 construction jobs and over 6,400 operational roles, boosting the regional economy by £725 million annually.
The project also includes plans for a skills centre and business park, further supporting economic growth. Local councils, including Nottinghamshire County Council and Bassetlaw District Council, partnered with UKIFS to commission the study, which Amion Consulting conducted.
The STEP programme is expected to provide substantial opportunities for regional businesses, infrastructure development, and supply chain contracts, with economic benefits projected well beyond 2065.
Historic Leicester building to become premium student accommodation
Student accommodation provider true student has secured planning permission to convert the former Freeman, Hardy and Willis building on Rutland Street, Leicester, into a 472-bed purpose-built student accommodation (PBSA) development.
Located near the city centre and serving students from De Montfort University and the University of Leicester, the project will retain historic site elements, which dates back to 1876. The building, previously a footwear retailer’s headquarters and later the International Hotel, has been vacant for over a decade.
This marks true student’s second East Midlands development, alongside its Nottingham project. The Leicester site will feature 1,758 sqm of social space, including a 465 sqm gym, yoga and boxing areas, co-working spaces, private study zones, a cinema, and a dedicated event space. A cycle hub with 238 spaces will support Leicester’s cycling infrastructure.
Sustainability is a key focus, with the retrofit approach reducing carbon emissions by preserving much of the existing structure. The development will also include sustainable urban drainage systems and provisions for solar panels.
true student’s “true life” programme, designed to foster student wellbeing and community engagement, will be a core feature of the new accommodation, offering events and workshops aimed at personal and professional development. The first students are expected to move in by summer.
Nottingham Venues to make £1m investment in Orchard Hotel and Bramley’s Restaurant
Lincolnshire offers free business advice to struggling farmers
Lincolnshire County Council funds business advice sessions to support farmers facing financial and regulatory challenges. The initiative, part of the Lincolnshire Farm Support Programme, follows a £50,000 funding boost in December to help farming businesses plan for the future.
Farmers can access one-on-one advice or group workshops on business planning, cash flow management, diversification, and succession planning. Savills delivers the sessions, which are coordinated by the Business Lincolnshire Growth Hub.
The council cited concerns over rising costs from National Living Wage and National Insurance increases and the sudden closure of the government’s Sustainable Farming Initiative, which previously provided guaranteed income for environmental land management.
Lincoln council expansion plan to be debated amid local government shake-up
Lincoln City Council is set to discuss a proposal to expand its boundaries, merging with parts of West Lindsey and North Kesteven to form a new “Greater Lincoln” authority. The plan will be reviewed in emergency meetings this week ahead of the government’s deadline for local government reform proposals.
The proposed authority would incorporate Lincoln alongside several neighbouring wards, aligning with urban interests rather than the surrounding rural areas. The council argues this would preserve Lincoln’s historical self-governance while creating efficiencies.
The government is encouraging councils to consolidate into larger single-tier authorities, with a suggested population target of 500,000. Lincoln’s proposal, which includes three separate authorities for the region, would not meet this threshold but is projected to save between £4 million and £26 million annually, with an estimated one-off transition cost of £15 million.
The council will submit its initial proposal to the government this week, with final plans due in November.
Bank of England holds interest rates at 4.5%
Nottinghamshire rum brand appoints former Diageo executive as new CEO
Leicester mayor proposes boundary expansion to support housing growth
Leicester Mayor Sir Peter Soulsby has proposed expanding the city’s boundaries to include parts of neighbouring councils, increasing the population from 372,000 to 623,000 by 2028. The plan aims to address land shortages for housing development.
The proposal would merge areas from Charnwood, Harborough, Oadby and Wigston, and Blaby councils into a new unitary authority. Soulsby argues Leicester’s current boundaries are too restrictive for growth and must be revised.
Meanwhile, Leicestershire County Council has proposed an alternative plan to create a single unitary authority for the entire county, while district councils favour splitting the area into three separate authorities.
Both proposals are open for public consultation, with final recommendations due by 28 November 2025. Further public engagement is expected in the summer.
Superdrug to open 25 UK stores in 2025, creating 600 jobs
Superdrug plans to open 25 new stores across the UK in 2025, creating around 600 jobs. The health and beauty retailer will also refurbish 65 existing locations and expand several stores, including Luton and Dundee.
The company focuses on larger-format stores in high-footfall shopping centres and retail parks. The new locations will feature expanded beauty treatment services, including manicures, eyebrow threading, ear piercing, and a wider range of luxury fragrances.
Superdrug has seen a 25% increase in sales from investments in its largest stores. Recent openings include Leeds Briggate, with upcoming launches in Guernsey, Cribbs Causeway (Bristol), and a significant expansion at Meadowhall (Sheffield).
The retailer aims to enhance in-store experiences as part of its bricks-and-mortar growth strategy.
Phoenix Brickwork supports HMP Bullingdon expansion
Derbyshire-based Phoenix Brickwork provides brickwork and scaffolding services to expand HMP Bullingdon in Oxfordshire. The project includes a new fully electric, four-storey T60 houseblock, increasing the prison’s capacity by 247 places.
The expansion is part of the UK’s Accelerated Houseblocks Development Programme (AHDP), which aims to add 20,000 prison places across six sites. The initiative will create over 2,000 construction jobs and 750 roles within the new facilities.
The T60 houseblock, built using Modern Methods of Construction (MMC), features off-site manufactured components to reduce carbon emissions. The design improves visibility and access to rehabilitation services while aligning with the Ministry of Justice’s sustainability goals.
Phoenix Brickwork’s subsidiary, BMH Scaffolding, is also supporting the project. The expansion includes additional facilities such as a workshop, a programme building, and an extended recreation area.
Eurocell hails “resilient” year
Eurocell, the Alfreton-based manufacturer, distributor and recycler of window, door and roofline products, has hailed a “resilient” year amidst weak macroeconomic conditions and declining consumer confidence.
According to preliminary results for the year ended 31 December 2024, pre-tax profits reached £13.8m, growing from £11.7m in 2023. Meanwhile, with “demand more subdued than expected,” revenue came in 2% below 2023, at £357.9m. The results follow Eurocell’s acquisition of Alunet in a £29m deal, announced in March 2025.Darren Waters, Chief Executive of Eurocell plc, said: “Our financial performance in 2024 was resilient, in the context of trading conditions that remained challenging.
“We delivered an increase of 32% in adjusted profit before tax, as we continued to proactively manage gross margin and benefited from a reduction in input cost pricing. Our cash generation was solid and our financial position remains strong, following completion of a £15 million share buyback programme.
“We invested to generate momentum with our strategy, and I am pleased with the good early progress we have made across a broad range of initiatives.
“The recent acquisition of Alunet is a compelling strategic fit for Eurocell: it addresses a growing trend towards aluminium fabrication across the fenestration sector, significantly strengthens our position in composite doors, and adds aluminium garage doors to our home improvement product portfolio.
“Demand in our core RMI market remains sluggish. We have seen some early signs of an improving picture in new build housing, albeit from a very low base. We will therefore continue to focus on cost reduction and operational improvements to drive efficiencies, to mitigate against the impact of a slower market recovery.
“We are confident in delivering another year of good progress in 2025, as we continue to execute on our growth strategy. The medium and long-term growth prospects for the UK construction market remain attractive and we are well positioned to drive sustainable growth in shareholder value.”
Derbyshire pharmacy sold to online clinic
Green light for 30 new business units in Nottinghamshire
East Midlands to unveil investment vision at UK real estate forum
The East Midlands will launch a new economic vision at the UK Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds from 20-22 May. East Midlands Mayor Claire Ward will lead a delegation of regional partners to outline major commercial opportunities and long-term growth plans.
The region will host an East Midlands Pavilion for the first time, providing investors, developers, and businesses with direct access to the Mayor and local investment teams. Key topics will include the East Midlands Freeport, the East Midlands Investment Zone, and the region’s appeal as a tourism destination through the Visit East Midlands initiative.
Investment showcases will highlight opportunities in Derby and Nottingham, focusing on advanced manufacturing, life sciences, creative industries, food production, and logistics.
Mayor Ward will be joined by representatives from the East Midlands Combined County Authority (EMCCA), East Midlands Freeport, Marketing Derby, Invest in Nottingham, Invest in Derbyshire, and Destination Chesterfield.
Santander accelerates digital shift with branch closures and job cuts
Santander is closing 95 UK branches as part of a broader shift toward digital banking, putting around 750 jobs at risk. The bank will also shorten operating hours at 36 locations and remove counters from 18 branches.
The decision follows a 63% rise in digital transactions since 2019, while in-branch usage has declined by 61%. After the closures, Santander will operate 349 branches, including 290 full-service locations and five work cafés.
The bank says 93% of the UK population will still be within 10 miles of a branch, though some closure dates remain unconfirmed.
Clifton’s £20m regeneration funding moves forward
Clifton will receive £20 million in investment under the Government’s £1.5 billion Plan for Neighbourhoods, a programme aimed at long-term community regeneration. The funding was initially announced in October 2023 but was paused when the new Government took office. It has now been confirmed, with Clifton listed as one of 75 areas selected for support.
The programme focuses on building thriving places, strengthening communities, and increasing local decision-making power. The Clifton Town Board, chaired by Stephen Hackney, Pastor of Hope Church, was initially established to oversee the funding and will now be refreshed to reflect the new priorities.
Community consultation has already occurred, with residents highlighting the need to improve parks and public spaces, new community and youth facilities, long-term infrastructure upgrades, and a revitalised high street and market. The board will revisit this feedback and conduct further consultations to ensure the investment meets local needs.
Nottingham City Council leader Neghat Khan welcomed the funding, calling it an opportunity for significant regeneration in Clifton. Hackney said the board is ready to move forward with a strategy informed by local priorities and will continue to engage with the community as plans take shape.
Lincolnshire councillors debate unitary authority restructure
Lincolnshire councillors are considering major local government reforms as they prepare to submit proposals on restructuring the county into unitary authorities. The government has requested interim proposals by 21 March, aiming for authorities with at least 500,000 residents while minimising service disruption.
Lincolnshire County Council has outlined two main options. One plan would merge North Lincolnshire and North East Lincolnshire into a single northern authority, with the rest of the county forming another council. The second option proposes combining North Lincolnshire, North East Lincolnshire, West Lindsey, and East Lindsey into one authority, while Lincoln, North Kesteven, South Kesteven, Boston, and South Holland would form another.
Cost projections differ between the options. The first would cost £27 million to implement, with expected savings of £250 million over 10 years. The second option carries a higher setup cost of £42 million but is projected to save £246 million over the same period.
Opposition councillors introduced a third option: splitting Lincolnshire into three unitary authorities to create a more balanced population distribution. Some councillors argue that this alternative could be more efficient and should be explored further.
The government makes the final decision, but the Lincolnshire County Council’s full meeting on 22 March will determine which proposals are formally submitted.
Streets Chartered Accountants covers payroll and HR updates, company vehicle changes, payroll outsourcing, and more in new news roundup
