Frasers Group CEO hails “break-out year”

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Frasers Group CEO hails “break-out year”

Frasers Group has shown “sustained profitable growth” in full year results for the 52 weeks ended 28 April 2024 (FY24), with its CEO hailing it a “break-out year.”

This was seen as adjusted profit before tax at the business grew by 13.1% on the prior year to £544.8m (+13.1%), at the top end of Frasers’ guidance range (£500-£550m).

The continued successful execution of the company’s Elevation Strategy was highlighted, alongside strengthened brand partnerships, which contributed to a strong trading performance from Sports Direct particularly. Frasers Group added: “The continued strength of third-party brand relationships and Sports Direct’s positioning, are unlocking further international expansion opportunities.

“Growing our presence in the Nordics, a joint venture in Southeast Asia, and currently acquiring a leading sports retailer in the Netherlands.”

Looking ahead, strong profitable growth is anticipated, with adjusted profit before tax in the year ahead expected to be £575m-£625m.

Michael Murray, Chief Executive of Frasers Group, said: “This has been a break-out year for building Frasers’ future growth. As well as delivering a strong trading performance, particularly from Sports Direct, we made significant progress with our Elevation Strategy. We expanded our retail ecosystem, establishing valuable partnerships with new brands.

“Our brand relationships have never been stronger, giving us invaluable support as we continue the international expansion of our business. We invested in group-wide operational efficiencies in warehouse automation and digital infrastructure, which we expect to yield a tangible impact as early as FY25. And we generated new growth opportunities with the rollout of Frasers Plus, including recently signing our first third party partner in THG.

“I’m really proud of what we have achieved at Frasers this year and would like to thank all colleagues for their continued hard work and our brand partners for their support. Together, we are building a resilient, profitable growth retail ecosystem that delivers exceptional value for our partners, consumers and shareholders.

“We have built a lot of momentum this year and are entering the new financial year with many exciting growth opportunities ahead of us, which we will continue to invest in for the long-term benefit of the Group.”  

20,000ft² Mansfield warehouse sold to vehicle recovery operator

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20,000ft² Mansfield warehouse sold to vehicle recovery operator
Just under 20,000ft² of trade counter/warehouse space has been sold in the heart of Mansfield. The freehold opportunity was snapped up by the expanding Richford Motors, an Alfreton-headquartered vehicle recovery operator established in 1990. The purchaser of the site and premises, Phil Richford of Richford Motors, said: “We are very happy with our new site in Mansfield, this site is to complement Richford Motor Services Ltd in their continuing growth and keep vehicle recoveries local to the Mansfield area, create more jobs locally and help with minimising our carbon footprint. “The site will be fully refurbished to a high standard. We will be advertising for job opportunities to get the site up and running promptly.” Tim Gilbertson, of FHP, who dealt with the sale, said: “My thanks to not only my longstanding clients here but also Phil Richford of Richford Motors for their assistance in ensuring that this sale went through quickly. “It’s another success story for us, a further building of just under 20,000ft² on a large site sold in north Nottinghamshire, reducing available stock yet again, particularly on a freehold basis. “As we enter the summer period, there is undoubtedly better momentum in the industrial and distribution sector, particularly for freehold sales of all sizes as stock levels continue to diminish, which is great when it results from successful sales and lettings, as is the case here, but we are finding more and more parties frustrated by the lack of available options. “Hopefully, this will change later in the summer once the holidays are over as it would be fabulous to build on the current momentum in the market and achieve more disposals before the end of the year. My thanks and best wishes to our purchaser here for his continued success and expansion.”

51,000 sq ft warehouse snapped up at Mercia Park

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51,000 sq ft warehouse snapped up at Mercia Park

Scolmore Group has secured 51,000 sq ft at IM Properties’ Mercia Park scheme at junction 11, M42, significantly increasing the size of its warehouse space to accommodate its future growth.

Scolmore Group is a manufacturer of electrical accessories, lighting, home automation, security and cable accessory products. It incorporates Click wiring accessories, Ovia lighting and lighting controls, Unicrimp cable accessories, ESP fire protection and security solutions, and Sangamo heating controls and time switches.

The family-owned business, founded in 1989 in Tamworth and employing more than 350 people, will use the new state-of-the-art logistics centre to house the extensive and growing collection of lighting products from its Ovia lighting division.

The Mercia 51 building, which is Net Zero Ready, BREEAM Excellent, with an EPC A rating will assist Scolmore Group in managing its own sustainability targets.

The facility, which is scheduled to open in September, includes 10 active EV charging spaces, with passive infrastructure for another 30 and storage for up to 12 cycles.

Mike Collins, Managing Director of Ovia, said: “This is a big move for Scolmore Group and an exciting one too. As a proud family business and large employer in the area, investing in Mercia 51 demonstrates to our employees, customers, and the marketplace that we’re committed to the future.

“Of course, at Mercia we’re in great company with DSV and Jaguar Land Rover’s global logistics centre next door, demonstrating the quality of the employment park. It’s connectivity to the M42, Tamworth and the wider motorway network is clearly a major driver for us, allowing for fast, efficient delivery of stock in and out of the warehouse.”

Harry Goodman, development manager for IM Properties, said it was particularly satisfying to attract yet another local occupier and one which is such a success story for the area.

“We welcome the opportunity to assist in the expansion of Scolmore Group, which underlines our belief in Mercia Park as an excellent location for distribution and an important place for job creation, with over 2300 people already employed on the scheme.”

Mercia Park is one of IM Properties’ first large-scale development schemes to achieve Net Zero in Construction, and Mercia 51 raises the bar further to also be Net Zero Ready. This means the building is optimised so the occupier can achieve Net Zero in Operation.

Goodman added: “Mercia 51 was created to a level of specification which sits within our Sustainable Future’s framework and aligns with the Green Building Council (UKGBC)’s recommendations.

“The Mercia Park Community Fund has also made significant contributions to local grassroots organisations and skills and training. This aligns well with Scolmore Group’s own values, and we continue to support projects in the area.”

Mental health training for line managers linked to better business performance, says University of Nottingham study

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Mental health training for line managers linked to better business performance, says University of Nottingham study
Mental health training for line managers is strongly linked to better business performance, and it could save companies millions of pounds in lost sick days every year, according to new research led by experts at the University of Nottingham. The results of the study, which are published in PLOS ONE, showed a strong association between mental health training for line managers and improved staff recruitment and retention, better customer service, and lower levels of long-term mental health sickness absence. The study was led by Professor Holly Blake from the School of Health Sciences at the University of Nottingham and Dr Juliet Hassard of Queen’s University Belfast. In the UK one in six workers experience mental health challenges, with 12.7% of all sick days attributed to mental ill-health. The estimated cost of poor employee mental health to British employers is over £50 billion, annually. Mental health training for line managers aims to give them the skills to support the mental health of the people they manage. Ongoing research is exploring whether such training increases the knowledge, skills and confidence of managers to support their staff and benefits employees. However, few studies have addressed its potential business value for companies. To explore the benefits, the group of researchers analysed anonymised survey data from several thousand companies in England collected between 2020 and 2023 by the Enterprise Research Centre at Warwick Business School as a part of a larger programme of research on workplace mental health and productivity. The survey included questions about the companies’ mental health and well-being practices, including whether they offered mental health training to line managers. To avoid errors in their analysis, the researchers statistically controlled for the age, sector, and size of the companies. The results suggest that mental health training for line managers may hold strategic business value for companies. Based on their findings, the researchers recommend that organisations provide mental health training to line managers and institute workplace policies that clarify the line managers’ role in supporting employee mental health. Meanwhile, the researchers outline the need for further research in this area, including looking into different approaches to delivering mental health training for line managers. Dr Juliet Hassard from Queen’s Business School at Queen’s Belfast University, and co-author of the study, said: “Encouraging employers to invest in employee mental health can be challenging. Knowing that improving line managers’ knowledge, skills and confidence in managing mental health at work is linked to better business outcomes will help to highlight the strategic value this approach to employers.”

Law firm boosts planning team with high-profile partner

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Law firm boosts planning team with high-profile partner
Howes Percival has appointed highly regarded planning partner Marco Mauro to its planning team, following a significant increase in new instructions. Initially based in the East Midlands, Marco is recognised as one of the go-to planning lawyers nationally and was head of planning for many years at his previous firm. Marco’s practice covers the Midlands, Central, Home Counties regions and beyond. Marco has over 17 years’ experience gained in all areas of planning, acting for developers, landowners, housing associations, investors, financial institutions, occupiers and high net worth individuals. His experience includes dealing with complicated planning obligations and infrastructure agreements, providing due diligence on property and corporate transactions and advising on and dealing with legal oversight of planning applications, appeals and claims for judicial review. Jay Mehta, head of planning, said: “We are absolutely delighted to welcome Marco to Howes Percival. He is very well known and regarded, right across the planning sector, and brings a wealth of experience. “We pride ourselves on being solution focussed and providing excellent client service. Marco is renowned for his ‘can do’ approach, proactive manner and ability to find solutions for clients, which has made him a recognised expert in his field and a perfect fit for our growing team. “The planning system – and indeed legislation and case law – continues to evolve at a record pace and will continue to do so following the election, with the Labour Government pledging to ‘bulldoze through’ planning rules to boost housing delivery to 1.5m homes and support other developments, including infrastructure and renewable energy schemes. “However, in recent years, environmental issues including water scarcity, nutrient neutrality and air quality have stalled the delivery of new developments, particularly housing, across the UK. As a consequence, the importance of the planning law team’s role for our clients has expanded, which has led to a significant increase in instructions year on year as we help our clients navigate such complexities to enable their development projects to continue.”

Predicted GDP growth for East Midlands up on last year, but remains relatively subdued among the UK

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Predicted GDP growth for East Midlands up on last year, but remains relatively subdued among the UK
The economy in the East Midlands is predicted to grow by 0.9% this year, up from 0.4% in 2023 according to the latest PwC UK Economic Outlook. Despite this year-on-year improvement, the East Midlands still lags behind the predicted GDP growth for the UK overall, which sits at 1.0%. However, the East Midlands is still outperforming the West Midlands (0.7%), North East and South East (0.8%) and is on par with Yorkshire, Scotland and the South West (0.9%). The capital and Northern Ireland are both predicted to see the biggest growth at 1.2%, followed by the North West and Wales (1.1%) and the East of England (1.0%). With many different sectors driving growth across our nations and regions, PwC’s recent Framework for Growth report demonstrates how crucial localised strategies are. Business leaders interviewed for the report said that the changes most critical to their business – the skills system, planning system, infrastructure investment and overall support made available to smaller businesses – were best driven at a local level. Alex Hudson, Market Senior Partner for PwC East Midlands, said: “Despite the data showing that economic growth in the East Midlands is lower than the UK picture, with the new government and recently created East Midlands Combined Authority, now is the time for businesses and local government to work together to develop a localised plan for growth. “PwC’s recently launched Framework for Growth report highlighted the need for businesses and government to collaborate more closely to deliver sustainable growth and outcomes for the future. 68% of UK businesses have identified skills, education and talent as their top priority for growth. “We have some world-class educational institutions and some of the UK’s biggest companies here. I believe that by investing in skills for younger generations and ensuring our current workforce is equipped with skills for the future, we will move the dial on the East Midlands economy, and the time to act is now.” UK overview:
  • UK GDP to grow by around 1% this year, up from the 0.5% estimate late last year. In its main scenario, PwC expects growth to pick up further to 1.7% in 2025 and 1.8% in 2026.
  • It is expected that headline consumer price inflation will bounce around the Bank of England’s 2% target for the remainder of 2024, due in part to stubborn services inflation.
  • Corporate insolvencies are expected to rise again this year despite already reaching a three decade high in 2023.
  • Around one half of sectors are now experiencing growth and the other half contracting. The three sectors with a large proportion of public sector activity grew strongly; health & social work (2.7%), public admin & defence (2.2%), and education (1.2%).
  • Consumer-facing sectors, such as retail and hotels, continue to struggle as consumers remain cautious. In PwC’s latest Consumer Sentiment Survey, 7 in 10 people said they still expect to make some spending cutbacks over the next three months
Barret Kupelian, Chief Economist at PwC UK, says: “The new Government has inherited an economy that was starting to show signs of growing faster as global tailwinds develop with more stable and predictable energy prices and lower inflation, and the impact of tighter monetary policy on economic activity starting to fade away. “In our main scenario, we expect some of this momentum will continue in the short term as the policymaking environment becomes more certain and duller, especially when compared to other peer economies.” Jake Finney, economist at PwC, says: “The UK has gone from being a poor-performing outlier on inflation to being one of the few advanced economies where inflation is currently back on target. “However, the disinflation process is not complete. Indeed, our main scenario projection is that inflation will continue to hover in and around the Bank of England’s target throughout the rest of the year. “There isn’t much scope for goods inflation to fall further, so the key ‘known unknown’ is when services inflation will return to more normal levels. Annual services inflation currently sits at around 5.7%, down from its peak of 7.3%. “This is higher than what the Bank of England expected in May 2024 (5.3%) and way in excess of its level the last time inflation was at target in July 2021 (1.6%).”

Top surveyor joins property consultancy’s East Midlands development team

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Top surveyor joins property consultancy’s East Midlands development team
An experienced surveyor has joined a property consultancy firm’s East Midlands development team as it aims to increase its influence in the region. Phoebe Clark has joined Fisher German’s development team as a Senior Associate following eight years with Savills in Norwich, London, and Nottingham. She will work out of Fisher German’s office in Newark-on-Trent, and will look to seal residential development deals throughout the East Midlands and South Yorkshire. Phoebe will work alongside Fisher German partner Luke Brafield as the firm looks to capitalise on a renewed desire for housebuilding and potential planning reform following the election of the new government. She said: “With Fisher German’s recent growth, it seemed like a really great time to be joining the firm. “It’s long had an excellent reputation in the sector, and I felt I could play a key role in the firm’s success and grow my career alongside growing Fisher German. “The East Midlands land market has proven to be more resilient compared to other parts of the country, and therefore demand for opportunities of all sizes has remained strong. With the likelihood that the delivery of housing will be high on the political agenda, I’m confident I can use my expertise and my strong network to secure the deals that will ensure the homes the area needs are built.” Luke Brafield, partner at Fisher German, added: “We’re delighted to be welcoming Phoebe to the team at Fisher German at a time when lots of opportunities are likely to emerge in the residential development market. “She brings with her a wealth of experience and a clear ambition to drive the business forward in this region.”

Promotion and recruitment strengthens Purpose Media

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Promotion and recruitment strengthens Purpose Media
Strategic marketing agency Purpose Media has promoted a key member of staff and made new hires to further strengthen its account management operation. The South Normanton-based consultancy, which provides web, digital, creative and video solutions to help its clients achieve growth, is enjoying a successful 2024, having secured a number of new business wins. Now it has moved to underpin the expert marketing support it provides to customers by promoting Georgia Weston to senior account manager and adding Laura Tiltina and Emma Tatman to its team. Georgia joined Purpose in 2022 as an account executive, with a Masters in brand management and experience of working for an in-house marketing team within the manufacturing sector. She made an instant impact, forging strong relationships with clients and delivering impactful campaigns, and achieved promotion to account manager in less than a year. Now, having helped drive six-figure new business growth for Purpose, Georgia has been appointed senior account manager – a role in which she will take more strategic oversight of key projects. Account director Matt Bonser said Georgia’s success was another demonstration of Purpose Media’s commitment to encouraging talent. “It was clear from day one that Georgia was a great fit with our company culture and, along with outstanding marketing ability, she showed entrepreneurship and a real dedication to helping clients achieve their objectives,” he said. “Through peer support and participation in a formal development programme, we have been able to help her add to her skills and are delighted that she is now able to take this exciting next step in her career here at Purpose.” Georgia believes that her previous industry experience has helped her develop empathy for client needs and that Purpose Media’s approach ensures these always remain fully in focus. “We are a strategic partner who looks holistically at a customer’s business objectives and considers how these can best be enabled through its marketing activity,” she said. “We’re transparent in the way we operate and ensure that the success we achieve can be clearly demonstrated. Our clients really value that.” The account management team has been boosted with the arrival of Emma Tatman, as an account manager, and Laura Tiltina, as an account executive. Emma is a marketing graduate who has worked in both industry and agency environments prior to joining Purpose, and has experience in online and offline marketing, organising seasonal campaigns, events and product launches and managing third-party agency relationships. Laura, a graphic design graduate, arrives on a Level 4 Chartered Institute of Marketing-accredited apprenticeship, covering multi-channel marketing. “Both will bring talent and enthusiasm to the team and will support our efforts to seek exciting and innovative ways to help our clients grow,” said Matt.

Property consultancy makes much-needed donation to Leicestershire school

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Property consultancy makes much-needed donation to Leicestershire school
A school in Leicestershire is set to purchase much-needed IT equipment thanks to a donation from a property consultancy. Congerstone Primary School, in Congerstone near Market Bosworth, has received £1,406.25 through Fisher German’s ‘Building Communities’ initiative. The school is set to purchase additional iPads to be used in lessons to support children across all year groups with their learning after retiring a number of old pieces of equipment which can no longer be used, and will be upgrading the sound system in the school hall. The Building Communities initiative was launched in 2020 to strengthen community links and support schools, clubs and organisations with close ties to Fisher German, with the firm donating a proportion of the commission fee from completed house sales signed up to the scheme. Katie Clarke, school governor and treasurer for the school’s PTA, said: “We would like to thank Fisher German for its support. “Budgets are currently stretched incredibly thin for all schools, and replacing any IT equipment is a real challenge, so donations like this are a huge help. “We’ve just retired a number of old iPads which will no longer update, so the new equipment is much-needed and will be used in lessons across all year groups. “Fisher German’s Building Communities initiative is a fantastic scheme, and we are extremely pleased to be a beneficiary of it.” Thomas Blake, of Fisher German, said: “Our Building Communities initiative is an excellent way of giving back to the communities in which we live and work. “Schools often face spending cuts which can make buying essential, yet often expensive, new equipment extremely challenging. “We are extremely pleased to present this donation to Congerstone Primary School to go towards much-needed new IT equipment, and we look forward to supporting even more schools, clubs and organisations across our communities in the future.”

Council pushing forward with plans to sell Nottingham Forest City Ground land

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Council pushing forward with plans to sell Nottingham Forest City Ground land
Nottingham City Council is pushing forward with plans to sell the land Nottingham Forest’s City Ground stands on. At a meeting of the Executive Board, it was agreed to put the freehold up for sale to the club. Council documents indicate it is looking to complete the disposal in 2024/25. It follows confirmation from the leader of Nottingham City Council, Councillor Neghat Khan, that the council had agreed, in principle, terms for the sale of the land to Nottingham Forest. She added: “This allows the club to press ahead with its ambitious plans to expand the stadium, while securing a significant capital receipt for the council.” Nottingham Forest, however, has said that any decision to purchase the freehold will be entirely conditional on the football club first being granted the relevant permissions that will allow it to realise its plans for a larger stadium capacity, world-class hospitality spaces and associated real estate development. Decisions on these plans will be in the hands of Rushcliffe Borough Council. The news comes after negotiations for a lease extension reached an impasse earlier in the year, with the council requesting a larger sum for the lease.

Derby firm merges with accountancy group

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Derby firm merges with accountancy group
Derby-based accountancy firm Ashgates has announced a strategic merger with Stoke-on-Trent headquartered accountancy group, DJH. The merger springboards DJH group into the East Midlands, expanding its footprint alongside its existing 10 offices across the Midlands, North-West, and Yorkshire regions. The new partnership provides Ashgates clients with access to additional specialist in-house services offered across the DJH group, including enhanced R&D and capital allowances teams, commercial funding, dedicated corporate finance, estate planning, and HR. Directors Tony Lymn, David Newborough, Steve Martin, Ian Johnson, and Gavin Booth will continue to lead the Ashgates team and will all remain shareholders. Jonathon Williamson will also be promoted to Director, having developed his career with Ashgates. Jon Wolliter will continue to head up Ashgates IT, supporting clients with IT solutions. Tony said: “We are delighted to join forces with DJH. This partnership will strengthen both firms’ capabilities and provide our clients access to additional specialist services. It will also allow continued investment in the learning and development of our team, creating opportunities for them to grow and flourish.” Scott Heath, Chief Executive Officer of DJH, said: “Ashgates is a great cultural fit, sharing our team-first, client-centric approach. They have built a business based on delivering exceptional business advice.” He continued: “Founded on principles of progressive thinking and building strong client relationships, Ashgates has a comprehensive range of services, including IT support and solutions, further expanding what we offer across the Group. We’re excited about the opportunities this partnership with Ashgates will create for our teams and clients alike.” Ashgates will retain its name and brand, and its offices will remain at 5 Prospect Place, Pride Park. Internally, the partnership will give Ashgates more support in relation to its own HR, recruitment, and training and development.

Private equity investor exits investment in educational specialist

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Private equity investor exits investment in educational specialist
The East Midlands team of LDC, the private equity investor which is part of Lloyds Banking Group, has led the successful exit of its investment in educational specialist The Edwin Group to Quad Partners after a three-and-a-half-year partnership. The Edwin Group is a values-led business, employing a team of education specialists who work nationally with schools and multi-academy trusts to safely recruit and retain the highest quality leaders, teachers and support staff. The group is one of the UK’s largest providers of supply teachers to primary, secondary and special educational needs schools across the Vision for Education, ABC Teachers and Smart Teachers brands. In the last 12 months, The Edwin Group has recruited over 11,000 teaching and support staff and delivered continuing professional development (CPD) to equip them with the skills they need to support schools and their young people. Further underpinning The Edwin Group’s three strategic pillars to recruit, retain and reduce workload, are staff wellbeing specialists Still Human, curriculum enrichment services Commando Joe’s and Enrich Education, safeguarding platform Llama ID and strategic HR and leadership services from Edwin People. LDC backed the management buyout of The Edwin Group in December 2020 from Tes Global. Following the carve-out, the management team, led by CEO Liam Roberts and the core team of Darren Starling, Will Washington and Fiona Baker, pursued an ambitious growth strategy underpinned by four acquisitions and the expansion of the Group’s services. The business now works with over 4,500 schools across the UK and opened nine new locations during the investment period. The growth has been accompanied by significant investment in The Edwin Group’s people. During the partnership, the Group bolstered its senior team by appointing Sarah Monk as Chief Strategy Officer, Charlie Afif as Chief Information Officer, Diane Sequeira as Director of Product, Lucy Fox as Director of Strategic Partnerships, Hannah Dimech as Director of Marketing and Lyndsay Greathead as Director of HR. US-based specialist education investor Quad Partners will now support The Edwin Group on the next stage of its growth journey, as the business continues to broaden its support for schools to address challenges linked to the recruitment and retention of teachers. Liam Roberts, CEO at The Edwin Group, said: “With the team at LDC’s support, we are now better equipped than ever to meet schools’ and multi-academy trusts increasingly complex needs. “Importantly, we’ve been able to grow the business and expand our range of products and services without losing sight of our values or our commitment to excellent customer service. We’re looking forward to embarking on this next chapter, working with more schools and multi-academy trusts, to positively impact the lives of young people.’ David Bains, Partner and Head of the East Midlands and East of England at LDC, added: “We were delighted to back a team who had a strong vision for an education services business. “Almost four years later the same team has created a business that helps schools and multi-academy trusts with their evolving needs and challenges, whilst it has invested in its people, acquired and diversified its services and bolstered its ESG credentials. I wish them every success in the future.” LDC was advised by Grant Thornton (corporate finance), EY Parthenon (commercial due diligence), BDO (financial due diligence) and Browne Jacobson (legal due diligence).

Nottingham-headquartered financial planning business makes acquisition in Kent

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Nottingham-headquartered financial planning business makes acquisition in Kent
Nottingham-headquartered financial planning business, Wren Sterling, has snapped up Howe Maxted Financial Services. Based in Sidcup in Kent, the Howe Maxted Group consists of Howe Maxted Financial Services and Howe Maxted General Insurance which is being acquired separately by JM Glendinning. Wren Sterling now operates from 14 offices covering 12 locations across the UK with other deals at advanced stages, which will further grow its network. James Twining, Wren Sterling’s CEO, said: “I’m delighted to welcome Howe Maxted Financial Services with their distinguished heritage and enduring client relationships. The team comprises very impressive professionals with the right blend of experience and enthusiasm for delivering for their clients. “They have built a strong business through loyal client relationships and an excellent referral culture with the general insurance business that was part of the same group. “Kent is a location we have targeted for some time because of its wealth and proximity to London, which will allow our teams to work closely together and help grow our business organically. The proposition that we have built for Wren Sterling clients will also be a great fit for Howe Maxted’s client, including Magnus, our discretionary fund management business.” John Austin and David Baker, Directors of Howe Maxted Group, said: “With origins dating back over a century we are proud to have provided quality solutions to thousands of clients over many generations. “Wren Sterling offers an enhanced range of financial planning services, shared values, and greater opportunities to benefit our clients for many years to come. Our focus remains on delivering personalised, high value planning services to clients within the security and framework of a national organisation.’’

Sir John Peace appointed independent chair for Greater Carlton Town Board and launches consultation on £20m fund

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Sir John Peace appointed independent chair for Greater Carlton Town Board and launches consultation on £20m fund
Sir John Peace has been appointed as the Independent Chair to lead the newly established Greater Carlton Town Board, an initiative set to empower local communities and shape the future of Greater Carlton and the surrounding areas with £20 million in endowment-style funding over the next decade. The first meeting of the board was held on Wednesday 10 July at Carlton Le Willows Academy to discuss the next steps in delivering the long-term plan for the area. The board has agreed to launch a consultation, which opened on Monday 15 July, to ask residents for their views on how the money will be spent. In March, Greater Carlton, including Carlton Hill, Netherfield, Gedling, Colwick, Burton Joyce, Stoke Bardolph, Mapperley and Mapperley Top, were selected to receive Long-Term Plan for Town funding from the government. The establishment of the Greater Carlton Town Board is a pivotal step towards community-driven decision-making, placing local people at the forefront of shaping their town’s future. The Independent Chair will play a crucial role in leading the Greater Carlton Town Board, bringing together diverse interests and facilitating consensus to develop a comprehensive 10-year vision for Greater Carlton. Following an advertisement for expressions of interest and subsequent assessment of applications, Sir John Peace was appointed as Chair. Sir John Peace has a long and distinguished business career at the highest levels covering the technology, financial services, and retail sectors. He was formerly Chairman, Chief Executive, and Founder of Experian plc; Chief Executive of GUS plc; Chairman of Standard Chartered plc; and Chairman of Burberry plc—all FTSE 100 companies. Other board members have also been appointed, including the local MP for Gedling, Michael Payne, the Leader of Gedling Borough Council, Councillor John Clarke MBE, Nottinghamshire County Councillor Keith Girling as well as local business leaders and community representatives. Sir John Peace, Independent Chair of the Greater Carlton Town Board, said: “I am very pleased to have been appointed as the interim Chair of the Greater Carlton Town Board. We have an opportunity to make a real difference to the lives of people living in Carlton and the surrounding areas with this funding. “I am looking forward to hearing from residents about their ideas for the area. I will make sure that the board is fully focused on the needs of the local community, and we will put together a plan that is led by the community that will create growth in the area. I very much look forward to the opportunities that will arise from this project.” Leader of Gedling Borough Council, Councillor John Clarke MBE, said: “We are incredibly pleased that Sir John Peace has agreed to chair this important board. He has a great track record of success in business, he knows the area well, and like us, he cares about the residents and businesses in Carlton and the surrounding areas. “We will now start the hard work of creating a real plan that will be community-led. It will be their voices that decide where this money goes, and I am very excited about the possibilities that this project will bring. We have been desperate for investment in these areas, so it’s now time for us to get on with the task of improving the Greater Carlton area.”

Property consultancy appoints Environmental, Social and Governance partner

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Property consultancy appoints Environmental, Social and Governance partner
A property consultancy has announced a new role which will see it at the forefront of devising and delivering Environmental, Social and Governance (ESG) strategies. Fisher German has appointed Rachel Bridge as ESG Partner at the firm. Rachel, who joined Fisher German in 2007, has spent her career within the firm’s infrastructure services division, and has extensive experience in Account Management as well as managing infrastructure assets. She has strong knowledge of the importance of green energy and the transition to Net Zero as well as the ESG challenges being faced by businesses. Rachel is the current chair of the Pipeline Industries Guild, has governance experience, and led the sustainability workstream in the Guild’s 2025 strategy She takes an active role in mentoring young professionals, champions Equality, Diversity and Inclusion (EDI) in everything she does and is also a Science Technology Engineering and Maths (STEM) ambassador in her spare time, championing careers in the industry to young people. The newly-created role will see Rachel advise clients on their ESG strategies, ensuring their property meets both legislative requirements and internal ESG targets. Rachel is based in Ashby and will be working across the firm’s network of 26 offices. Rachel said: “I’m extremely pleased to take on the new role of ESG Partner at Fisher German. “We are seeing an increasing number of companies make corporate ESG targets outside of legislation, and having a dedicated Partner working in this area demonstrates Fisher German’s understanding of its importance. “Finance and ESG are intrinsically linked, and having a strong strategy in place can attract investment, save on energy costs and support with the recruitment and retention of talent as people look to work for responsible businesses. “At Fisher German we have acted for landowners on more than 150 solar parks, 80 anaerobic digesters and 600 farm and commercial-scale wind projects, we advise on 750,000 acres of estate land and have a 99.4 per cent success rate in planning applications. “I will be working closely with our planning, agri business, natural capital and sustainable energy teams to help service clients from across the business.” Liberty Stones, Divisional Managing Partner for Advisory Services at Fisher German, added: “ESG criteria plays a crucial role in our decision making, and in building lasting value for our clients. We are delighted to have a dedicated Partner working with our people and clients to prioritise ESG.”

Aggregate Industries names new CEO

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Aggregate Industries names new CEO
A new Chief Executive Officer has been appointed to lead Leicestershire-based Aggregate Industries UK, part of the global Holcim group. Earlier this year it was announced that current CEO, Dragan Maksimovic, had been appointed as Region Head West Europe overseeing the leadership of the Holcim businesses in the UK, France, Belgium, Germany and Spain. Holcim group has now announced Lee Sleight as the new CEO of Aggregate Industries UK. He will take up his position on 1 August 2024. Lee joined the business in 2021 as Managing Director of the readymix concrete division and in his time there transformed the business. Last year he moved to take up the role as Managing Director of the aggregates division. Lee has more than 20 years of experience in the construction industry holding various senior leadership positions. Outgoing CEO and Holcim Region Head West Europe Dragan Maksimovic, said: “Firstly, I’d like to congratulate Lee on his appointment. He will make an excellent CEO. “I have worked closely with him for the last few years and he has a proven track record in leading and transforming businesses. I am confident he will continue to drive the business forward while delivering on our ambitious plans of decarbonisation and green growth.” Lee Sleight, Aggregate Industries UK new CEO, said: “It is a very proud moment for me to be chosen to lead this fantastic business. Having been with the company for a number of years I know first-hand how amazing the people who work here are. “I am now really looking forward to working with our teams around the country in order to deliver on our ambition to be the UK’s leading supplier of sustainable construction materials and to keep progressing on our journey to a net zero future.” Kaziwe Kaulule will succeed Lee as Managing Director of the company’s aggregates division. Kaziwe joined AIUK in October 2023 as Director of Strategic and Commercial Growth, having previously been CEO of Holcim’s South Africa and Zimbabwe businesses.

Inflation stays stable at Bank of England’s target

Tess Egginton
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Inflation stays stable at Bank of England’s target
Inflation has held steady at the Bank of England’s 2% target, according to new figures from the Office for National Statistics (ONS). Measured by the Consumer Prices Index (CPI), which rose by 2% in the 12 months to June 2024, the same rate as the 12 months to May 2024, it means prices in June increased at the same rate as May. The largest upward contribution came from restaurants and hotels, where prices of hotels rose more than a year ago; the largest downward contribution came from clothing and footwear, with prices of garments falling this year having risen a year ago. Core inflation, meanwhile, which takes out volatile factors like energy, food, alcohol and tobacco to give a clear picture of underlying trends, rose by 3.5% in the 12 months to June 2024, the same rate as in May. Martin Sartorius, Principal Economist, CBI, said: “The fact that inflation is stable at the Bank of England’s target will be welcome news for many households as we start to see things return to normal after period of high price growth. However, it’s worth noting that many have yet to feel the benefit of lower inflation due to the high level of prices, particularly for food and energy bills. “Today’s data paves the way for an interest rate cut next month, which would begin to provide some relief for firms and households that are struggling with high borrowing costs. “Going forward, the Bank’s Monetary Policy Committee will be mindful of potential upside risks to inflation in the near-term as the domestic growth outlook improves. They are also likely to move carefully as they assess the impact of the first rate cut in four years.”

Greggs to create new National Distribution Centre in Kettering

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Greggs to create new National Distribution Centre in Kettering
Tritax Symmetry has announced plans for a new National Distribution Centre for Greggs plc at Symmetry Park, Kettering. The planning application details proposals for 311,551 sq ft of logistics space on a 25.1-acre plot. The unit will be designed to a BREEAM ‘Very Good’ standard, achieving an EPC A rating and meeting Net Zero Carbon in Construction requirements. The initiative is part of Greggs’ strategic growth plan, announced in 2021, which set out ambitious expansion targets requiring investment in significant supply chain capacity. Greggs currently has 2,500 shops and its longer-term growth plans target an estate of significantly more than 3,000 shops in the UK. This investment will bolster its capacity to directly supply ambient and chilled products to a growing portfolio of shops. Tritax Symmetry is also seeking planning permission for an additional 100,000 sq ft to enable Greggs to expand the site further. The centre will be a key part of Symmetry Park, Kettering, which extends to 136 acres in total and benefits from outline planning permission for 2,310,000 sq ft of logistics floor space overall. Subject to planning, Greggs expects its National Distribution Centre on Symmetry Park, Kettering, to be operational in the first half of 2027. Tritax Symmetry is being represented by BNP, Cushman and Wakefield, and DTRE. Wright Silverwood is representing Greggs.

Gateley continues revenue growth streak

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Gateley continues revenue growth streak

Gateley has hailed a “good financial performance” in its audited results for the year ended 30 April 2024 (FY24), as the professional services group extends its unbroken record of revenue growth since IPO in 2015.

The business increased revenue by 6% to £172.5m, while delivering an underlying profit before tax of £23m (slipping from £25.1m in the previous year) after reinstating the payment of employee bonuses of £4.5m.

Gateley said this was “in recognition of our people’s contribution to a resilient outturn and our more positive outlook as we move into FY25.”

During the year, the company continued execution of its M&A strategy with the July 2023 acquisition of Richard Julian and Associates Limited (RJA).

Rod Waldie, CEO of Gateley, said: “I am pleased with our FY24 outturn given our cautious view of market conditions during the Period, particularly around the turn of the calendar year in H2. Our people have worked hard to deliver another year of growth via our increasingly diverse and resilient business model, combining complementary legal and consultancy services.

“During the Period we continued to make organic and acquisitive investments in both our legal and consultancy services and in related systems. RJA Consultants was acquired onto our Property Platform in July 2023, adding further expertise and capacity to our quantity surveying and project management offering. It is already performing ahead of the board’s expectation. 

“Our legal services class actions team, established in May 2023, launched its first case in late February 2024. Our investment in this team is a high-profile example of the type of investment that we are looking to make to enhance our returns over the medium to longer-term.

“Our M&A and lateral hire pipeline remains encouraging and we are committed to further enhancing each of our Platforms as suitable opportunities arise, aided by our net cash position and ample headroom in our banking facilities.

“Looking forward, we are encouraged by strengthening transactional activity levels, which began in Q4 FY24. Our immediate outlook is best characterised as cautiously optimistic. Our resilient and financially robust foundation, allied to our unbroken track-record of growth, underpins our confidence to continue our long-term strategy of investment in people and systems.

“This strategy has worked well for us since IPO in 2015 and through disciplined application of it, we ensure that the Group remains well-positioned for further growth and enhanced returns for all stakeholders.”

Duo of solar projects get go-ahead in Lincolnshire

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Duo of solar projects get go-ahead in Lincolnshire

Plans for two new solar projects are set to go ahead in Lincolnshire, despite local opposition.

The Gate Burton Energy Park application and Mallard Pass Solar Project application have been granted development consent by the Secretary of State for Energy Security and Net Zero.

Low Carbon is behind the proposals for Gate Burton Energy Park, on land near Gate Burton. Once built, the 500 MW project will provide enough solar capacity to power approximately 160,000 homes with clean, secure electricity. The project will also deliver more than 350 jobs per annum during peak construction.
Welcoming the decision Mike Rutgers, Managing Director of UK Development at Low Carbon, said: “We are delighted that the new Secretary of State has granted consent on the Gate Burton Energy Park, allowing us to progress to the construction phase of the project and reaffirming our position as the market leader for UK solar. “As Gate Burton progresses, we look forward to continuing to engage closely with local residents, business owners and other key stakeholders to ensure we deliver this project responsibly.”
Mallard Pass Solar Farm is proposed to be located on agricultural land either side of the East Coast Main Line near Essendine, partly situated in South Kesteven, Lincolnshire, and partly in Rutland. Mallard Pass is expected to generate in the region of 350 MW of renewable energy, enough to power the equivalent of 92,000 UK households.

Two senior county councillors have reacted negatively to the news that the new Secretary of State has granted permission for the two solar farms.

Councillor Colin Davie, the county council’s executive councillor for economy and environment, said: “The news that proposals for giant industrial solar parks for both Mallard’s Pass and Gate Burton have been approved is deeply disappointing for all those who will have to live with these huge developments on their doorstep. “I have repeatedly said that these enormous infrastructure projects should not be dumped in our county, and ruin the quality of life of our residents. Our agricultural land should be protected and it plays a key role in our nation’s food security. But these pleas are not being heard by the Labour government now in charge of environmental policy.” Leader of Lincolnshire County Council, Cllr Martin Hill, added: “Be in no doubt that these are huge-scale developments that will change our county landscapes dramatically. Both proposals are expected to cover around 2000 acres each. “The speed with which these decisions have been taken shows that this government is not prepared to listen to communities, local councils and all those fighting for our countryside. The sheer volume of paperwork associated with these proposals means that in no way could these be seen as carefully considered decisions.”
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