Revenue rises at Mattioli Woods
Mattioli Woods, the specialist wealth and asset management business, has hailed revenue growth in a new trading update in advance of final results for the year ended 31 May 2023.
Revenue was up 3% on the prior year, while profit for the year is in line with expectation.
The update follows the acquisitive Leicester firm swooping for Doherty Pension & Investment Consultancy Limited and a 50.1% stake in White Mortgages Limited in the period.
Ian Mattioli MBE, Chief Executive, said: “I am pleased to report further growth in revenue, which was up 3% on the prior year despite the sustained market and economic complexity that has been a feature of the recent global economy and continues to affect the value of clients’ assets.”
He continued: “Our trading outlook for the new financial year is focused on securing organic growth complemented by strategic acquisitions, with targeted investment to create capacity, improve operational efficiency and enhance our clients’ experience.
“Whilst inflationary cost pressures and investment in our strategic initiatives may impact margins in the short term, we are confident that we will continue to deliver attractive, long-term sustainable shareholder returns.”
Mattioli Woods also announced the appointment of Michael Wright as Deputy Chief Executive Officer.
Ian Mattioli said: “The Board regularly reviews the suitability of the Group’s governance structure, and reflecting the expansion of the Mattioli Woods proposition and increased size of the Group, the Board are pleased to announce the appointment of Michael Wright as Deputy Chief Executive Officer.
“In this new role Michael will lead and support the delivery of certain strategic goals alongside the executive team, whilst retaining his current responsibilities. Michael was previously appointed Group Managing Director in 2019, and has been on the Board since 2021, having joined the Group 19 years ago and holding several senior advisory roles during this time.”
£25m build-to-rent loan secured for Leicester residential scheme
Working in conjunction with the Housing Growth Partnership (HGP) and Pluto Finance, MAF Finance Group (MAF) has helped secure the completion of a £25m build-to-rent loan for Monk Estates, enabling the property developer to create 171 homes at a historic site in Leicester.
The build-to-rent (BTR) loan will be instrumental in supporting the repurposing of an Edwardian factory and the construction of two interconnected new build apartment blocks. Spanning four storeys, the redeveloped former hosiery factory will be transformed into a modern and stylish residential hub, blending heritage with contemporary design.
Adjacent to the factory, the two interconnected new build apartment blocks have been designed to integrate with the existing structure, enhancing the development’s architectural appeal, and helping to reduce overall massing.
Upon completion, the development will feature 171 residential units, as well as an associated commercial unit which will be available to serve both residents and the surrounding community.
MAF Finance Group co-managing director Dave Chapman said: “Both our property director Paul Delaney and I are extremely pleased to have been involved in arranging the funding and introducing the client to HGP and Pluto Finance, working with all parties, to structure this exciting deal.
“This is the second transaction in the build-to-rent sector in which we have assisted Robert and Sam Monk of Monk Estates, and we look forward to seeing the Hylyfe Leicester scheme flourish alongside Hylyfe Nottingham which is already progressing well.”
Monk Estates director Sam Monk added: “Despite a very challenging market within the finance sector, MAF has once again provided us with top tier service and advice throughout the entire process, from early feasibility through to completion.
“The company has been instrumental in providing us with both initial and long-term development funding, helping us to achieve our goal of creating 1,000 apartments, developed, managed and retained.”
PwC Midlands makes record round of partner and director promotions
PwC Midlands has made a record round of partner and director promotions, with seven Midlands directors admitted into the Partnership, and 18 senior managers promoted to director, across all lines of services.
The seven Midlands partners, over half of whom are women, join a total of 74 new partners admitted across PwC in the UK, taking the partnership to over 1,000 partners for the first time.
The new Midlands partners are part of over 400 promotions made across the region, including 33 senior managers and 57 managers.
Matthew Hammond, PwC UK Midlands regional market leader & Birmingham senior partner, said: “This year we have made a record investment in new partners and directors in the Midlands. Many of these colleagues have grown a career with PwC straight from university or via apprenticeships, highlighting our commitment to our people’s development.
“Each brings a wealth of knowledge to help our clients achieve their business goals and navigate complex problems. Congratulations to all our new partners and directors, and to each of our 400 Midlands team members who are celebrating much deserved promotions.”
Partner admissions in the Midlands are:
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Rachel Cletheroe, Audit
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Rebecca Elnaugh, Deals
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Sally Graham, Deals
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Amy Johnson, Tax
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Ajay Kabra, Audit
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Dan Packwood, Tax
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Matt Palmer, Audit
Rachel Cletheroe, Audit partner, joined PwC in 2006, straight from university. Rachel has held a number of roles including secondments with clients. Rachel’s focus is on leading large international corporate audits, as well as being a mental health advocate for the firm, supporting the wellbeing of colleagues across the business.
Rebecca Elnaugh, Deals partner, joined PwC in 2021 and has specialised in valuations for 15 years. Rebecca focuses on mid-market private equity clients working with them to enhance value through the design, implementation and valuation of management incentive plans.
Sally Graham, Deals partner, Joined PwC in 2006 from university and is a specialist in PwC’s Sale and Purchase Agreement (SPA). Sally focuses on helping private equity and corporate clients across a range of sectors and deal sizes to maximise and protect value through their M&A transaction pricing mechanisms.
Amy Johnson, Tax partner, joined PwC in 2003, having been introduced to the firm in 2001 through a university internship. Amy has held a number of roles, starting in employment taxes and now specialising in corporate tax. Amy works with private equity backed businesses, helping them to navigate the complexities of the international tax environment and supporting management to maximise the value of their businesses.
Specialising in financial services, Ajay Kabra, Audit partner, began his PwC career at PwC India and joined the UK firm in 2011 on secondment. Ajay made the move permanent and has worked across multiple sectors including manufacturing, automotive and now financial services. Ajay’s diverse experience brings different perspectives to provide clients with the best service.
Dan Packwood, Tax partner, joined PwC in 2011 following an apprenticeship with another firm. Dan will lead the Tax Private segment in the central region with a particular focus on deals related services for private clients.
Matt Palmer, Audit partner, joined PwC in 2004, from university and has worked internationally including a three year secondment to Sydney. Matt leads audits of large private equity backed portfolio businesses.
Flint Bishop swoops for Freeths’ real estate team
Flint Bishop has announced the recruitment of the entire real estate team from national law firm Freeths’ Derby office. Janet Rhodes, Sam Shepherd, and Louise Calow, together with two legal assistants have all joined the firm’s commercial property department, making it one of the largest Real Estate teams in the Midlands.
Rhodes, formerly the Head of Freeths’ Derby real estate practice, assumes the role of partner and will lead Flint Bishop’s now 18-strong commercial property team.
With a career spanning over 25 years in the real estate industry, Rhodes brings a wealth of experience and a successful track record representing a diverse range of high-profile clients. Her body of work includes handling multi-million-pound property funding for various portfolios, acting on behalf of both local and national clients and corporates. She has also overseen significant commercial and industrial projects such as care homes, pub company groups, and industrial estates.
Shepherd, who steps up from director to partner, is recognised as a highly skilled real estate law practitioner with extensive experience in handling a wide range of property matters, including option agreements, acquisitions, leases, disposals, funding, sub-sales, infrastructure agreements, and collaboration agreements. Her expertise lies in commercial development, with a particular focus on brownfield urban development sites.
Calow joins Flint Bishop as a senior associate, bringing extensive experience in commercial and residential acquisitions and disposals, landlord and tenant matters, re-finance/banking, and general property affairs. Notably, she was appointed as Honorary Legal Advisor to the Derbyshire Historic Buildings Trust in 2019, showcasing her commitment to supporting and preserving the architectural heritage of the region.
Among their notable achievements includes overseeing a complex private rented sector (PRS) development in Manchester, involving land assembly matters, infrastructure, and forward funding, with an estimated gross development value (GDV) exceeding £120m, the £18m acquisition of a care home portfolio and £9m acquisition on behalf of a national bingo operator.
Commenting on joining Flint Bishop, Rhodes said: “I am thrilled, along with Sam and Louise, to be joining Flint Bishop at such an exciting time, with the flagship new office having recently been opened and on the back of such a successful last financial year. I am really looking forward to working with such a highly accomplished team of real estate lawyers and support staff and building on the breadth of impressive work, team experience, and client base that Flint Bishop has already established.”
Qamer Ghafoor, Chief Executive of Flint Bishop, added: “We are delighted to welcome Janet, Sam, and Louise to our firm. These strategic hires represent a major coup for Flint Bishop, significantly enhancing our capabilities and establishing a stronger presence in the real estate sector. The recent wave of senior-level appointments underscores our commitment to providing exceptional legal services to our ever-increasing client base and further cements Flint Bishop’s position as a leading force in the Midlands region.”
Top tips for entering the East Midlands Bricks Awards 2023
With the East Midlands Bricks Awards 2023 picking up pace, nominations are now flowing in.
Celebrating the outstanding work of those shaping the landscape of our region, this year’s highly-anticipated awards ceremony will take place on Thursday 28 September, at the Trent Bridge Cricket Ground in the Derek Randall Suite, featuring Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, as keynote speaker. Tickets can be booked here.
Here are 5 top tips for a successful entry:
To be held at:
- Make your nomination compelling.
- Less is more – as often judges have to read a large number of nomination forms, no one wants to read “waffle” or an excessive use of jargon in an award entry, so be concise and specific with what you write.
- Use facts, statistics and key examples that support why a project, person or business should win an award, as they will make any statement you make much stronger.
- Make sure to read the criteria carefully to be sure that your nomination does in fact fit what is being looked for. Why not reflect on the projects that won last year to get an idea of whether your nomination reflects a certain category’s requirements.
- Finally, proofread your nomination and submit it in plenty of time!
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner (this award cannot be entered, the winner will be selected from those nominated)
Nominations close on Thursday 31 August.
Book your tickets now
Tickets can now be booked for the East Midlands Bricks Awards 2023 – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
East Midlands bucking national trend in economic performance
As sticky inflation, rising interest rates and skills gaps continue to cause concerns for businesses across the UK, a new study suggests the East Midlands may be bucking the national trend.
Research from East Midlands Chamber shows firms across Derbyshire, Leicestershire and Nottinghamshire are performing well, with improvements reported in sales activity, cashflow and pricing expectations between April and June 2023. The business representation group’s Quarterly Economic Survey (QES), which is delivered in partnership with the University of Leicester School of Business, also showed a third consecutive quarterly fall in the number of businesses reporting difficulties in filling vacancies.
However, there is caution ahead as the survey also showed a decline in advanced orders, future recruitment and investment intentions. The Chamber says increasing business investment is crucial to driving up productivity in order to bring down prices and, thus, inflation.
East Midlands Chamber director of policy and insight Chris Hobson said: “Against a backdrop of continued challenges facing businesses when it comes to stubbornly high inflation, low growth and Bank of England decision-making, the results from our second QES of the year gives us cause for optimism the East Midlands is bucking the trend and delivering a strong performance.
“While any growth is relative to what has come before in terms of how these results should be interpreted, responses to questions around concerns and events driving price pressures give further credibility to the argument that factors such as higher utility costs, inflated wage settlements and expensive fuel are all easing as problems for businesses during 2023.
“The percentage of firms reporting pressure to increase their own prices has fallen sharply, down to 36% – compared to 54% last quarter and 60% three quarters ago – with a corresponding growth in those looking to keep prices the same, suggesting many of the increased costs have now been passed on.
“While messaging from policymakers remains tentative, the mood music among businesses is much more positive, with 41% of firms now expecting their profitability to grow over the next quarter, an increase over the previous three quarters from 38%, 34% and 28% respectively. In contrast, those expecting a drop in profitability has fallen from 41% in Q3 2022 to 26% this quarter.
“We’re clearly not completely out of the woods yet – advanced orders saw a slight slowdown and investment intentions remain stubbornly low – however, the regional economy is continuing the pick-up that began at the start of this year. A more stable policy environment over recent months will have supported an improvement in sentiment.
“As we get closer to a general election, it’s important that politicians and institutions behave responsibly with regards to policy announcements and fiscal decisions. The UK economy has already defied the expectations of six months ago – it’s important to capitalise on this now and not do anything that may inadvertently rock the boat.
“At the same time, it remains imperative that Government backs business by focusing on what we call the ‘four Is’ – investment, innovation, infrastructure and international trade – all of which is laid out in our regional economic blueprint, A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond.”
East Midlands Chamber QES Q2 2023 data
Key findings from the Quarterly Economic Survey Q1 2023 for the East Midlands, which was completed by 340 organisations between 15 May and 9 June 2023, included:
· UK and overseas sales grew by a net 4% and 8% respectively between the first and second quarters of the year, but advanced UK and overseas sales were down by 5% and 1% respectively
· 62% of businesses added to their headcount in Q2 2023, compared to 60% in the previous quarter and 57% before that
· While recruitment is growing, problems persist also less intensely than previously – with seven in 10 businesses that attempted to recruit experiencing problems in filling roles, compared to eight in 10 at the end of last year
· Rising prices resulting from cost pressures for energy, raw materials, people and fuel are easing, with a net 31% of businesses expecting they will be forced to raise their own prices – down from a net 52% in the previous quarter
· While a net 2% of firms reported a decrease in cashflow, there was an 11% positive swing compared to the first three months of the year
· Investment intentions, having grown in Q1, are trending downwards again, with a 3% decrease quarter on quarter for both investment in plant and machinery, and investment in training
· The trajectory of business confidence shows a mixed picture, with confidence in turnover prospects down by 1% compared to the previous quarter but up by 7% for profitability expectations.
Professor Mohamed Shaban, associate dean for business and civic engagement at the University of Leicester School of Business, said: “Currently, business sentiment is cautious in relation to the domestic market, with sales falling compared to the previous quarter.
“The general outlook is consistent with views expressed in the previous quarter. Businesses involved in overseas markets also reflect this caution. The business environment is likely to be affected by mixed expectations in relation to future political leadership and monetary policy decision.
“There is no significant increase in recruitment, reflecting the hesitancy of many East Midlands businesses. Additionally, the shortage of employees applying for highly skilled full-time jobs highlights the importance of much-needed investment to upskilling the workforce, particularly regarding support from the educational institutions for local businesses.
“Inflation is still at undesirable levels. The slight positive increase in business confidence is likely to be crushed next quarter by the recent increase in the Bank of England base rate to 5%, which will likely impact investment decisions and businesses’ profitability in the short and medium term.”
Acres engineers carnival atmosphere for Melbourne
Derby-based Acres Engineering has stepped up to help a local community celebrate in style this year by creating a range of landmarks for Melbourne Carnival.
The family business, which is located on Castle Lane Industrial Estate, Melbourne, is no stranger to working with the local community, having created free safety solutions to support the local hospitality industry during the Covid crisis.
Now, in and amongst fabricating their usual solutions for some of the world’s biggest names in industry, the team has swung into action to create replicas of the Statue of Liberty, the Eiffel Tower, the London Eye and Rio’s beloved Christ The Redeemer.
They have also produced a sign to welcome guests arriving for the July 8th event.
Luke Parker, Managing Director at Acres Engineering, says: “This year’s theme for the Melbourne Carnival is ‘Around The World’ and with Acres being a global exporter and a company committed to CSR, we wanted to donate an exhibit for the community to enjoy.
“We are a family business that is deeply rooted in the local area and the wider city and county and we all hope that the good folk of Melbourne will enjoy the display and have a fantastic day out.”
Gemma Bettelley at Melbourne Carnival said: “The carnival committee was over the moon with the offer of these pieces for our event from the team at Acres. We’ve loved being part of the whole process, and seeing everything come together from inception of ideas, through to seeing the finished products.
“Luke and his team have kept us up to date as they’ve gone through the project and brought us along with them so we’ve loved seeing how these items have been developed. It has been really great to be involved and see the company which is on our doorstep do their amazing work!”
Winning architect revealed for Mansfield housing redevelopment competition
The winner of an international competition to appoint an architect for a flagship housing scheme on a derelict site close to Mansfield town centre has been revealed.
The Royal Institute of British Architects (RIBA) in January launched a competition to find an outstanding design for Mansfield’s White Hart Street area on behalf of Mansfield District Council.
There were 36 entries and the competition drew huge interest in Mansfield both nationally and internationally.
Proctor and Matthews Architects have now been announced as winners selected from five finalists after their mixed housing scheme impressed a judging panel comprising council officers, Mansfield Executive Mayor Andy Abrahams and a RIBA advisor.
A delegated decision by the Cllr Anne Callaghan, Portfolio Holder for Housing, for the council to formally offer the £583,796 contract to Proctor and Matthews, a prominent London-based design house, is set to take place on 12 July.
Entrants to the competition worked to a £14m design budget and their brief included providing a high quality mix of around 60 affordable homes which respected the historic nature of the area and considered the challenges of climate change. The finalists were judged 80% on quality and 20% on price.
Most of the quality criteria looked at architectural distinction and appropriateness of the design concept and how it met the requirements of the brief.
A proportion of the scores were awarded on the architects’ ability to work in partnership with the council and other stakeholders and the social value their scheme would deliver to the local economy.
In their submission, the company said it could facilitate work experience and work shadowing placements for students, as well as talks and lectures to students and local interest groups. It also suggested workshops to teach young designers about the role of the architect.
The company also pledged to use local companies and suppliers in the construction stages of the project and ensure permanent job opportunities were made available to local people not in education, employment or training.
Executive Mayor of Mansfield Andy Abrahams said: “The overall standard of entries to the competition was phenomenally high and this scheme from Proctor and Matthews stood out as particularly impressive in its quality, cost and in terms of what we as a council were looking to achieve.
“The idea to work with RIBA has been a tremendous success resulting in Mansfield being exposed to some of the most talented architects in the UK resulting in the highest quality design for this transformative project.
“We can’t wait to take the next steps into making the impressions of this new housing into a reality for our tenants. We’ve had a glimpse of what the scheme will look like from initial artist impressions but there is still much work to do and a more detailed picture will emerge in the coming months.
“White Hart Street has been derelict for too long and has failed to attract private sector investment, so it has been crying out for a vision that will breathe new life into this important area of our town centre.
“We think we have found in this winning scheme a design that will respect the area’s heritage and provide affordable, energy efficient and future proofed homes that are fit for the 21st Century, and which people of all ages will feel proud to live in.
“This scheme is a significant part of our Town Centre Masterplan. Put simply, we want to see our town centre increasingly as a place where people want to live. This will increase footfall and consequently act as a catalyst for external investment.”
Teresa Borsuk, RIBA Architect Adviser, said: “The panel was impressed by the quality, thought and attention to detail expressed in all the submissions. The many ideas presented provoked much discussion and debate, but evidently there can only be one winner.
“The winning entry was well considered, achieving a good number and mix of homes; a range of other uses; quality public realm and above all, vitality and spirit.
“The panel particularly enjoyed the careful crafting of the proposed masterplan with its interweaving and layering of the many references to the site’s former history.
“Mansfield Council is now looking forward to further develop the proposals to ultimately transform White Hart Street regeneration area into a memorable place, with an identity that will help secure and retain its future.”
Once the contract has been awarded, the architects will be working on a detailed design for submission for planning approval subject to the council’s approval of a business case for the scheme.
The Full Council is expected to consider the business case for the plan in early 2024. If approved, a planning application will be submitted and if that is approved, demolition work could start around October 2024 and building work in February 2025.
The brownfield land to be redeveloped is located within the Bridge Street Conservation Area which contains buildings of historic and architectural merit, but it has stood derelict for over a decade. The proposed development aims to retain and improve the existing heritage properties.
The area previously had planning permission for a mixed retail and residential scheme in 2008, but market conditions meant this scheme was never taken forward. It subsequently became blighted and has, as a consequence, become a magnet for anti-social behaviour.
The Full Council approved a £16.5m budget in 2019 to build new council homes on the site and the council purchased land in this area last year (2022) in order to facilitate its regeneration. It will be exploring opportunities to work with other partners to increase this budget through grant funding.
The properties are expected to be a mix of housing types, including family houses and apartments for older people, and built to the energy efficient Future Homes Standard, in line with the council’s Climate Emergency Action Plan. They would be added to the council’s stock of affordable homes for rent.
The scheme aligns with three of the council’s corporate priorities: Place through regenerating a blighted area of the district; Wellbeing by providing new, high quality housing which improves the quality of life of residents; and Growth, by developing a better and wider mix of housing across the district.
District centre development site acquired for Heart of England Co-operative Society
Retail agents at Harris Lamb have acquired a district centre at Glenvale Park in Wellingborough on behalf of Heart of England Co-operative Society.
The 15,730 sq ft development forms part of a larger housing site with 3,000 new homes and a primary school.
Heart of England Co-operative Society has secured the site’s freehold with a forward funding arrangement for the construction of the site. It will include a new 4,682 sq ft convenience store which Heart of England Co-op Food will occupy, together with five ancillary retail units and a Coffee Drive Thru, pre-let to Bewiched Coffee.
Steve Browne, general manager of Heart of England Co-operative Society’s food division, said: “We’re excited to be progressing with the retail centre in Wellingborough and to be developing our 39th food store at the heart of a new community.
“The remaining rental units will also give other businesses the opportunity to offer their services alongside us in a vibrant location. This is a significant investment for the Society. Last year we unveiled a similar development in Lower Heathcote, Warwick, where we also operate a store.”
Glenvale Park LLP, the lead developers behind the new community on the northern edge of Wellingborough, will complete the development in Summer 2024.
Mark Best, director of Midtown Capital Ltd, managing partner of Glenvale Park LLP, said: “We’re thrilled to have Heart of England Co-op and an independent, thriving business like Bewiched join our community. I’m happy to have both businesses on board which closely align with our sustainability values, as well as providing exceptional customer service.
“We have always been committed to ensuring we create an inclusive, exciting and accessible place for Wellingborough, delivering excellent homes across a range of tenures, in addition to an array of green open spaces and quality amenities.”
David Walton, director at Harris Lamb property consultants, said: “We have been working with Heart of England Co-operative Society for many years and this scheme shows the ambition they have to grow the business and commit to expansion. The scheme is one of a number we are acting on in finding and acquiring sites. We are actively looking for further sites within an hour of Coventry either freehold or leasehold.”
Harris Lamb brokered the £4.3 million purchase with Space Retail acting for the developer.
Manufacturer Slack & Parr slips into administration
Howard Smith and Chris Pole from Interpath Advisory have been appointed joint administrators of Slack & Parr Limited and Slack & Parr (Investments) Limited.
Incorporated in 1917 and based in Kegworth, near Derby, Slack & Parr is a third-generation family-owned specialist pump manufacturer which supplies gear metering pumps, rotary hydraulic flow dividers and industrial dosing pumps throughout the UK and worldwide. The Slack & Parr group delivered turnover of in excess of £13 million in FY23.
In common with a number of other industrial manufacturers, the companies had seen cashflow impacted by rising raw material, energy and labour costs. After exploring their options in view of increasing cashflow challenges, the directors took the decision to seek the appointment of administrators.
Following their appointment, the joint administrators will seek to trade the businesses while they explore options for a sale of the businesses and their assets. The administrators have retained approximately 100 members of staff to assist them, however a further 50 employees have been made redundant.
Howard Smith, Managing Director at Interpath Advisory and joint administrator, said: “For over 100 years, Slack & Parr has grown to become a market leader in high precision engineering, supplying gear metering pumps and rotary flow dividers to high-profile customers including leading automotive manufacturers.
“As we explore options for a sale of the businesses and their assets, we would encourage any interested parties to make contact with us as soon as possible.”
The companies are part of a wider group, which includes trading subsidiaries in the USA and China. No other companies in the group are in administration and continue to trade.
Community experts sought to help shape University of Nottingham’s newest campus
The University of Nottingham is seeking expertise from the local community to help shape the future of its newest campus, ahead of plans to open up the doors to the public for the first time this month.
The university is establishing a volunteer advisory group for its Castle Meadow Campus, its new city centre campus on the site of the former HMRC headquarters, at the foot of the historic Nottingham castle.
Jason Phoenix, Castle Meadow Programme Director for the University of Nottingham, said: “This is a hugely exciting development for the university and will enable us to realise some of our ambitions to expand research, teaching and collaboration activity, offer increased opportunities for civic engagement, and develop the university experience for many of our postgraduate students.
“We want the local community to feel a part of what’s happening at Castle Meadow at every stage of its development and are seeking ‘critical friends’ to provide advice and support and bring best practice and knowledge to the project helping us to review plans as they develop.”
Encompassing seven buildings – recently awarded grade II listed status for their iconic appearance – and 32,500 square metres of space, Castle Meadow Campus will feature state-of-the-art facilities and will be a hub for collaboration for the whole community – from local schools and businesses to academics and industry.
Officially opening by 2025, the campus will provide an additional new base for Nottingham University Business School (NUBS), which will capitalise on the city centre location to develop new opportunities for teaching, research and partnership activity, enabling it to grow its postgraduate offer and increase collaboration with strategic partners.
It will also be the home of the university’s Digital Nottingham project, which will harness digital and data knowledge and innovation to support a thriving regional digital sector and help solve challenges across the city and region.
The university envisages opening up the campus as a venue for events, installations, demos and digital showcasing – including immersive technology, AI and Robotics and digital 3D mapping tools.
In addition, it hopes to be able to offer digital skills education for local professionals and young people as well as regional networking opportunities for small and medium sized businesses.
A phased refurbishment plan is underway and in purchasing Castle Meadow Campus, the university also became landlords for law firm Browne Jacobson which is currently based at the site. It is soon to be joined by professional services firm KPMG, which has announced it will relocate its East Midlands office to the campus later this year.
Loughborough University receives multi-million-pound funding to create new automotive wind tunnel
Loughborough University has received multi-million-pound funding from UK Research and Innovation (UKRI) to create a new automotive wind tunnel.
It is part of a £23 million investment by UKRI to establish a National Wind Tunnel Facility+ (NWTF+). This will deliver a network of world-leading wind tunnels, addressing societal and industrial challenges including the generation of net zero technologies; advances in emissions reduction; and future technologies for transport, energy, and healthcare.
Loughborough is world renowned for its research in the field of automotive aerodynamics. Flow measurements taken at the University for a simplified car shape have become a standard accuracy assessment test for 20 international organisations, including universities, engineering software providers and major car companies.
The new wind tunnel will be used to expand Loughborough’s research capability in understanding the behaviour of wheel sprays, complementing its existing large automotive wind tunnel facility.
Professor Gary Page, Chair of Computational Aerodynamics at the University’s Aeronautical and Automotive Engineering Department, explains: “There are an increasing number of sensors on cars to aid drivers and provide levels of autonomy. We need to know under what conditions these sensors will stop functioning or behave incorrectly in adverse weather conditions.
“The new facility at Loughborough will enable this safety critical research to take place and advance knowledge and development across the automotive sector.”
Planning and construction of the wind tunnel is due to begin in April 2024.
Plans approved to transform car showroom, garage, and petrol station into self storage facility
Plans have been approved for the transformation of a once bustling car showroom, garage, and petrol station on Portland Road, Hucknall into a state-of-the-art Loft Self-Storage facility.
The project will introduce a new storage solution business to the area, featuring portable storage containers and storage units integrated into the open areas of the site.
By introducing this new storage facility into the area, Loft Self Storage will create new job opportunities, stimulating local employment and contributing to the local community.
Speaking about the upcoming project, Loft’s Managing Director, Nick Williams, said: “We are absolutely delighted to have been granted permission to change the use on Portland Road. We plan on creating a much-needed self-storage area for all people who need that extra little secure storage space.
“Job opportunities will be created in the local area along with bringing the old site back to life whilst still in keeping with the local area and surroundings. We can’t wait to get going and welcome the people of Hucknall and surrounding areas to this new and exciting project.”
Administrators of plant-based foods firm secure sale of manufacturing site
The administrators of Plant and Bean Limited (P&B) have sold the company’s manufacturing site and associated equipment to Vegan Solo Consulting Limited (Vegan Solo) and Duo Renovations Ltd (DRL).
P&B is a dedicated alternative protein food manufacturer based in Boston, Lincolnshire, operating from a 125,000 sq ft factory and producing vegetarian products for large brand names with placements in major supermarkets.
The company entered administration on 31 May 2023 when James Clark and Howard Smith at Interpath were appointed joint administrators.
Vegan Solo specialises in the production of meat-free products and is run by Heather Mills, the entrepreneur and a leading champion for the vegan movement. This purchase will add to Miss Mills’ existing portfolio which includes Vbites – a pioneer of meat-free substitutes.
Like several other businesses in the sector, P&B experienced significant inflation across its cost base, primarily increases in food and energy prices. The business also suffered from several operational issues stemming from a lack of investment.
It is understood that following the sale there will be a period of renovations to upgrade the production capabilities, and that Miss Mills is determined to ensure that any future manufacturing that takes place at the site be plant-based.
Heather Mills said: “I am delighted to acquire the P&B facilities and to keep it as a non-meat factory. I am also pleased to try and help the founder of P&B who has worked in a similar vein to myself for many decades to drive positive change for the environment, the animals and for the health of the global population.”
James Clark, Managing Director at Interpath and a joint administrator of Plant and Bean Limited, said: “I am delighted to secure a sale of this great facility to someone committed to investing and improving on the great manufacturing capabilities implemented by Plant and Bean. The factory has huge scope to deliver improved economic output for the Boston area and we wish the buyer all the best in their new venture.”
Air IT swoops for Yorkshire firm
Air IT, the Managed Service Provider (MSP) with offices in Nottingham and Derby, has snapped up Yorkshire and London-based Vital Technology Group.
Air IT and Vital combined employ almost 500 people and operate across eight regional UK offices, delivering a local personal service to over 2,300 clients.
Lee Evans and Alex Dawson, Joint Managing Directors of Vital, said: “We’ve spent the last 15 years developing and growing Vital into a successful regional business with an enviable local reputation.
“By joining Air IT, we’ll not only be able to offer additional technical expertise, skillsets and capabilities, whilst continuing to deliver the highest levels of service to our clients, but will continue our journey of growth, establishing Air IT as the IT partner of choice for SMEs in Yorkshire and the North East region.”
James Steventon, CEO at Air IT, said: “I’m delighted to welcome Vital to Air IT. They’re a great addition to our team, sharing a similar approach, culture, and a commitment to delivering exceptional service to clients.
“With a strong focus on Microsoft cloud solutions, we’re looking forward to combining our joint knowledge, skills and experience to deliver even greater results for our valued clients.”
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Newark architects design boathouse at centre of leisure development
Newark-based Influence Landscape Planning and Design is the landscape architect on a project to create a new boathouse at Kings Mill Reservoir near Sutton in Ashfield, work on which has begun this week.
Kathryn Dunk, principal landscape architect at Influence, said: “Kings Mill Reservoir is a special place where nature and visitors flock. It’s a place for being close to nature, enjoying the surroundings and experiencing the myriad of water sports on offer.
“I’m really pleased that progress is being made to create the new leisure building which will sit alongside the water sports facilities and provide a place to dine and relax. Naturally landscape plays a key part here and we have created designs that responds to the specific character of the reserve, with a naturalistic planting palette of grasses and wildflowers and native Downy Birch trees reaching across the site to the water’s edge.”
Lincoln-based Lindum Construction is delivering the project which involves demolishing an old boat house to make way for a new two-storey structure providing modern, accessible changing and storage facilities for water sports on the ground floor, with a restaurant and function space on the first floor.
The project is one of 17 in the district being funded by £62.6m of Towns Funding and will complement the expansion of the neighbouring The Mill Adventure Base.
Lindum Construction Manager Mark Robertson said the entire project would take around a year to complete. “We are looking forward to getting started on this project, which will result in a superb leisure attraction for local people. The restaurant will be in a fantastic location with views of the water,” he said.
“We have a strong pipeline of local subcontractors who will be working on this scheme with us so the council’s investment will continue to circulate within the economy.
“It is good to be working with Ashfield District Council again. Lindum has a delivered several housing schemes for the authority over the past three years and we’ve developed a strong relationship, based on openness, trust and successful delivery of projects.”
Cllr Matthew Relf, Executive Lead for Growth, Regeneration and Local Planning added: “This is another positive step for our plans to make Mill Waters one of the top tourist destinations in the East Midlands.
“We want to hear from clubs or individuals, who are keen to get involved in developing and running water sports activities at the reservoir. Please get in touch with the team if you are interested.”
Three substantial freehold premises sold in Derby city centre
A deal has been completed to sell three substantial freehold premises on Green Lane in Derby city centre.
St James Securities, the company behind the £200m regeneration of the Becketwell area of the city, has disposed of the properties to the Berry Group, a successful Derby-based property company.
The properties form part of legacy ownership originally controlled by Debenhams when they traded from the former department store, with the site now home to The Condor, Grainger plc’s new 259 BTR apartment scheme, which is set to launch next month.
As part of the on-going regeneration project at Becketwell, tracks of land behind The Condor needed to be reconfigured resulting in the disposal of numbers 22-24, 36 and 46-48 Green Lane.
The three properties will be transformed into a mixed-use development, incorporating ground floor commercial units to the frontage which will provide a much-needed uplift to the existing street scene.
In addition to this, there will be new residential use throughout the remaining parts of the properties, helping aid Derby City Council’s goal of providing additional, affordable city centre living.
Derby’s £200m Becketwell regeneration scheme is the most significant urban regeneration scheme in the city for more than three decades.
The Becketwell scheme will create a vibrant, exciting, new quarter of residential, commercial, leisure activity in the heart of Derby city centre.
Phase one is the delivery of The Condor, the city’s first ever purpose-built, Build to Rent scheme, which will be owned and operated by Grainger plc, the UK’s largest listed provider of private rental homes, along with the creation of a new multi-purpose public square.
Phase two of the scheme includes a major £45.8m 3,500-capacity performance venue, which will be operated by ASM Global, the world’s leading venue management and services company, and producer of live experiences.
Future planned phases of the scheme include the potential for a range of other complementary uses of the site including a hotel, further residential accommodation, a multi-storey car park and purpose-built student residential.
Paul Morris, development director at St James Securities said: “We are pleased to have concluded the sale of these three very interesting buildings.
“The Berry Group have the required experience and skill set to reactivate these long vacant properties to provide a mixture of commercial and residential space as part of the on-going re-energisation of Derby city centre.”
Alex Cockayne, commercial director of the Berry Group, added: “We are delighted to have purchased these three properties from St James Securities and thank both Rigby & Co and St James Securities for their dealings and co-operation throughout the conveyancing period.
“We are now thrilled to focus our attention on bringing these derelict buildings, which have been empty for over 15 years, back to life. These buildings will play a part within the Becketwell regeneration scheme and provide Derby city centre with some much-needed high end accommodation and fresh commercial space.”
The transaction of the units was brokered by Russell Rigby of Derby-based commercial property consultants Rigby & Co, who said: “We are really pleased to have delivered a successful outcome for SJS and given the rise in confidence levels on streets bordering Becketwell, we believe we have an excellent match-up between an emerging location and The Berry Group, who have already demonstrated that they are skilled at getting to grips with mixed use assets such as these three buildings.”
Robbie Bell returns to heating and plumbing sector as new CFO of Highbourne Group
Northants-based Highbourne Group has appointed Robbie Bell, who spent almost 10 years in a similar role at Screwfix earlier in his career, as its new CFO.
Robbie replaces Interim CFO Harvey Ainley and begins work immediately for the UK leader in the plumbing, heating and renewable energy market.
Highbourne’s brand portfolio includes some of the biggest names in the sector, including City Plumbing, The Bathroom Showroom, PTS, DHS, The Underfloor Heating Store, Plumbworld and PlumbNation.
CEO Dave Evans said: “We are delighted to welcome Robbie Bell to our Senior Leadership Team. We believe he is the perfect appointment as we look to lead industry change and continue to grow our business. Those are things that require an experienced CFO capable of making a big impact, and Robbie brings this.”
Robbie joins from Holland & Barrett, where he was also CFO, having held similar roles at Welcome Break and a number of large retailers.
During his time at Screwfix, he saw trade counters grow from 50 to 600, overseeing sales growth of over £1bn.
He said: “It’s an exciting time to be re-joining the sector and I’m looking forward to supporting Highbourne in their strategic ambitions.
“I have already been impressed by Highbourne’s business plans and by CEO Dave Evans, HIG Capital and the Senior Leadership Team.”
Electrical training specialists expand to Sawley Park
After a successful six months at Connect Derby’s Marble Hall managed workspace, electrical training specialists Just Electrical Training have expanded to new premises at Sawley Park on Nottingham Road in the city.
The company, which was launched in 2016 by Richard Bentley and Sarah Stenson-Bentley, took space at the iconic former Rolls-Royce building on Nightingale Road in October last year.
Since then, the company has gone from strength to strength and has now outgrown its accommodation at Marble Hall.
Following a sustained period of growth Richard and Sarah realised the business also needed a workshop and classroom space and has now moved to the popular Sawley Park which is home to a diverse range of businesses.
Just Electrical Training offers a programme of affordable electrical training courses for anyone who is new to the trade, already in the trade and associated trades. Courses range from electrical installation, inspection and testing to fundamental testing, domestic installer and portable appliance testing.
Speaking on the move and the help and support the business has received from Ann Bhatti and her team over the past six months, Richard and Sarah said: “When we joined Connect Derby last year, Marble Hall was the perfect base for us with space that suited our needs in an environment that enabled our business to expand, with a broad range of facilities, including car parking, meeting rooms and on-site café.
“The help and support from the Connect Derby team has been first class. We received a great service from the reception team at Marble Hall, who were always on hand to help.
“It was a difficult decision to leave, but our new premises at Sawley Park have enabled us to embark on the next phase of our growth plan, which is very exciting.”
Ann Bhatti, head of Connect Derby, added: “We are sorry to say goodbye to Richard, Sarah and their team at Just Electrical Training after just six months at Marble Hall, but we are delighted to follow their growth and would like wish them all the best at their new premise at Sawley Park.”
