“We are setting compelling and achievable financial targets for the mid-term which will take Rolls-Royce significantly beyond any previous financial performance. This will benefit not just our shareholders but our people, customers and partners.
“We are building ‘one Rolls-Royce’. A company that can fully realise its potential, ensuring the excellence and innovation that helped shape the modern world, endures long into the future.”
Rolls-Royce targets “step change” in financial performance
Rolls-Royce is set to embark on a divestment program, efficiency initiatives, and partnerships as part of its new mid-term financial targets that will represent “a step change” in its financial performance, making the business “stronger and more resilient than it has been before.”
In the mid-term this means achieving operating profit of £2.5bn-£2.8bn, operating margin of 13-15% with free cash flow of £2.8bn-£3.1bn and return on capital of 16-18%.
These targets are based upon expectations for a 2027 timeframe. Rolls-Royce said: “We expect a progressive, but not necessarily linear, improvement year-on-year, and if we can accelerate the achievement of our ambitions we will.
“These targets, the performance improvements that underpin them and the actions we require to achieve them, are owned across the group and supported through rigorous performance management and clear lines of accountability. Our strong start to 2023 provides further confidence in our ability to deliver.”
Rolls-Royce’s new strategy is based on four pillars: portfolio choices & partnerships (the markets it is choosing to operate in, businesses it wants to invest in, and partnerships that will create truly winning positions), advantaged businesses & strategic initiatives (how it will create a competitive business, expand earnings potential and improve performance), efficiency & simplification (the importance of a company-wide focus to drive synergies that enable Rolls-Royce to be more competitive and simplify the way it operates), and lower carbon & digitally enabled businesses (Rolls-Royce’s commitment to the energy transition, building on the tangible progress it has made to date, and capturing the benefits of becoming more digitally enabled).
Amongst choices made to deliver the step change in financial performance, Rolls-Royce’s group-wide divestment program is targeting gross proceeds of between £1bn and £1.5bn over the next five years, which do not form part of the firm’s free cash flow targets.
Rolls-Royce said it will only sell assets at the right time and at the right price. For example, in Rolls-Royce Electrical the business is looking at options to exit in the short run or alternatively for the right value, reduce its position to minority with an intention to exit fully in the mid-term.
Rolls-Royce also believes “the world-class capability” it has built in Advanced Air Mobility will represent good value to a third party and will allow it to focus on its core electrical engineering activities in Power Systems, Defence and Civil Aerospace.
Moreover, Rolls-Royce efficiency initiatives will deliver sustainable savings of £400m-£500m in the mid-term.
Chief Executive Tufan Erginbilgic said: “Rolls-Royce is at a pivotal point in its history. After a strong start to our transformation programme, we are today laying out a clear vision for the journey we need to take and the areas where we must focus.
“We are creating a high performing, competitive, resilient and growing Rolls-Royce that will have the financial strength to control and shape its own destiny. We are confident in our ability to achieve these ambitions and have a clear and granular plan to deliver on our targets.
“We have made significant progress, with 2023 profit and cash forecast to be materially ahead of 2022.
Economy set to miss out on millions in warehouse crisis
New research reveals a lack of land is blocking the growth of the small to mid-box (sub-100k sq ft) warehouse sector, holding back job creation and costing the economy £480 million in Gross Value Added (GVA) per year.
With local planning focused on larger ‘Big Box’ (>100k sq ft) warehouse schemes and residential developments, change is needed.
The report, BIG things in SMALL boxes, is the second annual benchmarking report commissioned by industrial and logistics property company, Potter Space, conducted in collaboration with Savills. The report aims to uncover the challenges faced by the small to mid-box segment of the market and suggest potential solutions.
The biggest challenge facing this sector is that of ‘suppressed demand’. This means that demand for space outstrips the available supply of land for development. The report reveals that demand is suppressed in England by 38 per cent, and in some areas, this figure climbs to over 100 per cent.
The Midlands has been particularly affected, above other areas. Suppressed demand currently sits at 51 per cent in Nottingham and Derbyshire. This climbs to 57 per cent in Birmingham and reaches 101 per cent in Leicestershire, making the Midlands the hardest hit area outside of Stoke and Stafford (50 per cent) and Crawley in the South East which sits at 166 per cent.
One proposed solution to combat suppressed demand is ‘co-location’. Larger logistics property companies are facing a decline in demand, leaving unused space that could be filled by smaller providers to create economies of scale by sharing costs of infrastructure, such as access, drainage and power.
By co-locating on large sites, smaller providers could increase their footprint, create jobs and build more resilient local economies. Co-location is also growing in popularity within new developments, with a 16 per cent increase in new builds created with ancillary office space included since 2020, allowing businesses to conduct all operations from one site.
According to the report, local authorities should take a positive approach to planning to unlock economic benefits. Local planners should consider land that is unsuited to bigger warehouses as opportunities for smaller facilities, including areas close to residential developments, beside motorway junctions or railway tracks.
The small to mid-box warehouse sector currently provides 2.1 million jobs in England, with more waiting to be created. It is responsible for 31% of apprenticeship starts, with 13,000 apprenticeship roles per year beginning in small to medium enterprises (SMEs). If the undersupply of land is addressed, this figure could increase to a potential 18,000.
Jason Rockett, Managing Director at Potter Space, said: “Whilst there have been some small steps forward in the industry, the main challenge of finding enough space to meet the demand of these businesses that make up the backbone of the economy hasn’t gone away.
“Our report findings clearly show the need for logistics property companies to work together and collaborate with local authorities for a sustainable future in which the demand of all businesses can be met. If we can get this right now, we’ll not only support businesses, but also provide meaningful and long-term jobs in our local communities.
“Co-location is one way that the sector can work together to make the best use of available land and resources. With suppressed demand sitting at 38 per cent and rising to above 100 per cent in areas such as Crawley and Leicestershire, it’s clear that steps need to be taken now to improve the situation, before it is a major challenge that puts a stop to business growth and job creation.”
Frozen food company fined after employee loses fingers
A frozen food company has been fined £700,000 after an employee lost two of his fingers following an incident at the firm’s premises in Lincolnshire.
Tom Matthews, from Grantham, now champions health and safety in his current job at a different company, warning others to avoid his misfortune.
He had been working a night shift at McCain Foods’ site in Easton on 2 September 2019 when he suffered serious injuries to his left hand.
While cleaning the company’s batter system machinery, the 33-year-old had attempted to remove string dangling from a chute when his left hand was drawn in and contacted the machine’s rotary valve.
The index and middle finger were later amputated as a result of the incident.
Tom Matthews, a father-of-two, said: “The last four years have been hard and an ongoing struggle both physically and mentally. I still have circulation problems in my left hand following the incident that should never have happened.
“While I’m currently working, my new role is with the health and safety team at a different company as I want to use my story as an example to others and make sure something like this doesn’t happen again.”
A Health and Safety Executive (HSE) investigation found that McCain Foods had failed to provide appropriate guarding to prevent access to the dangerous parts of machinery, namely the rotary valve. It had not conducted an adequate risk assessment of the batter machine and had not provided employees with adequate health and safety training or supervision.
McCain Foods (G.B.) Limited, of Havers Hill, Eastfield, Scarborough, North Yorkshire, pleaded guilty to breaching Section 2(1) of the Health & Safety at Work etc. Act 1974 and Section 11(1) of Provision and Use of Work Equipment Regulations 1998 (PUWER). The company was fined £700,000 and ordered to pay £6,508.51 in costs at Lincoln Magistrates’ Court on 22 November 2023.
HSE inspector Muir Finlay said: “This incident could so easily have been avoided had the company taken simple steps to guard dangerous parts of machinery and provide employees with suitable training and supervision.
“Companies and individuals should be aware that HSE will not hesitate to take appropriate enforcement action against those that fall below the required standards.”
This prosecution was led by HSE enforcement lawyer Jonathan Bambro and supported by Rubina Abdul-Karim.
Nottingham academics receive funding to help make AI safe to use
Academics from the University of Nottingham have received funding to research how to ensure Artificial Intelligence (AI) is safe to use, in a new project alongside the Universities of Oxford and Warwick.
The UKRI funded Responsible AI UK (RAI UK) has announced its first round of Impact Acceleration projects, investing £1.8m to ensure AI is safe, and that it will be responsible to the needs of society, addressing topics such as Generative AI in teaching and learning.
In one of these Impact Acceleration projects, researchers from Horizon Digital Economy Research and the Mixed Reality Lab at the University of Nottingham will join colleagues from the University of Oxford and the University of Warwick to deliver ‘Responsible Innovation Advantage in Knowledge Exchange ‘RAKE’’.
The project will work with a variety of stakeholders including businesses, standards bodies, funding organisations, research teams, doctoral training centres and SMEs to explore how Responsible Innovation (RI) can be better embedded and will deliver RI training sessions in these differing environments.
Dr Alan Chamberlain, in the School of Computer Science at the University of Nottingham, will lead on the development of an international interdisciplinary network to bring together academics, researchers and experts to better understand responsible AI in the context of the Arts and Humanities.
He said: “Starting to examine how people understand and apply responsible AI in their work is important. It will help us to approach the design of responsible systems together. Involving the public is fundamental, it’s vitally important to enable people to participate and have input into research.”
Professor Elvira Perez Vallejos and Dr Virginia Portillo at the University of Nottingham, along with Dr Carolyn Ten Holter at the University of Oxford, have a wealth of expertise and knowledge and will lead work with the Institute of Electrical and Electronics Engineers Standards Association, UKRI CDTs and AI spinouts to map current RI practice, identify gaps and develop guidance to embed and drive knowledge exchange. Alexandra Dock Housing site released to market
An opportunity to create a brand new housing development on brownfield land near the Grimsby Fishing Heritage Centre has been released.
The site, behind the newly renovated Garth Lane waterfront area, has been earmarked by the Council for urban housing and the Council is now looking for a development partner to come forward to drive the project forward.
The 6.25 acre town centre site bordered by Fisherman’s Wharf and the River Freshney will eventually see a community of around 130 homes with supporting commercial accommodation.
The frontage of the site, bordering Alexandra Dock, was completed in 2021, and includes the new footbridge over the River.
This area was identified for homes in Grimsby’s Town Centre Masterplan, which is supported by Homes England, and is cited as an ideal location given the water nearby and the improvements that have already taken place.
Investment worth approximately £7.8m to support the development at this site has already been secured through the Government’s Towns Fund.
Cllr Philip Jackson, leader of the council with responsibilities for the economy, net zero, skills and housing, said: “The main objective of this work is to create a place that connects the town and its community with its waterside, creating a fantastic urban living environment.
“There’s a long way to go yet, and developments of this scale don’t happen overnight. But we are working to improve the town centre as a whole and this is part of that vision. Step-by-step we want to change how our town centre is used and enjoyed as a whole.”
Potential bidders can view documentation on www.find-tender.service.gov.uk– external site. Selected developers will then take part in a competitive dialogue, followed by an invitation to submit formal tenders to develop out the site from 2024 onwards.
Investor swoops for Wellingborough engineering company
Nene Capital, an investor in UK small and medium-sized enterprises (SMEs), has acquired MTS (Motor Technical Services Ltd), a Wellingborough engineering company.
Stephen Bayliss, Managing Director of Nene Capital, said: “With its strong track record of delivering high-quality products and services to its customers, MTS is a clear fit with our investment strategy.
“It has a unique value proposition and a compelling vision, we look forward to supporting the talented management team to deliver their growth plans over the long term.
“This acquisition is a testament to our unwavering commitment to identifying investment opportunities in the SME space with long term growth potential, and creating value on a risk adjusted basis.”
MTS, which specialises in the sale, servicing, repair and reconditioning of electric motors, generators, fans and pumps, will now benefit from Nene Capital’s resources and strategic guidance.
This synergy is expected to further elevate MTS’s position in the engineering sector and enable the company to explore new avenues for growth and development.
Simon Stringer, finance director of Nene Capital, said: ”MTS has performed consistently for a number of years through putting customers first – delivering a solution-based quality product to a loyal client base.
“These fundamentals, combined with the massive opportunities in this market, now and in the future, make it another excellent SME acquisition for Nene Capital.”
“We are thrilled about the opportunities that this acquisition will bring to MTS and its stakeholders,” said Tony Libertucci, Managing Director of MTS. “Nene Capital’s commitment to supporting the growth of UK SMEs aligns perfectly with our vision for expanding our reach and capabilities.”
County leaders sign proposed Lincolnshire devolution deal
Parliamentary Under Secretary of State of Levelling Up Jacob Young met the three Greater Lincolnshire Council Leaders today (27 November 2023) as they united to sign the greater county’s proposed devolution deal.
Mr Young joined North East Lincolnshire Council Leader Cllr Philip Jackson, along with Cllr Martin Hill OBE from Lincolnshire County Council and Cllr Rob Waltham MBE from North Lincolnshire for the ceremonial event held at Scunthorpe’s 20-21 Visual Arts Centre.
Parliamentary Under Secretary of State for Levelling Up Jacob Young said: “It’s fantastic to be here in Lincolnshire today announcing our devolution deal for the Greater Lincolnshire area.
“It comes alongside extra funding, more powers and a new directly elected mayor for the Lincolnshire area. I know it’s going to have a dramatic impact across the whole of the Lincolnshire County.”
Cllr Martin Hill said: “This is a deal which will be fantastic for Greater Lincolnshire, from the Humber down to the Wash.
“It gives us a lot of extra spending power over the next 30 years, £24 million a year for the next 30 years, and some additional money straight away that we can spend on our priority areas.
“But importantly it will give us extra powers as well to make sure that we can direct that spending in areas that we know local people need it, around infrastructure, around transport, around housing, flood defence and various other areas where we know we’ve got need in the county.
“We know it’s going to be great for us in determining the future direction of Greater Lincolnshire.”
Phase one at Beauchamp Business Park 80% sold
Over 80% of units in phase one of Beauchamp Business Park, a new commercial development in Kibworth, Leicestershire, have now been sold or are under offer, just two months after being made available for enquiries.
Beauchamp Business Park is being brought forward by Clowes Developments and its team including IMA Architects, TanRo, Millward Consulting Engineers, Gateley’s Legal and Postins Project Services. Philips Sutton and TDBRE have been instructed as agents on the scheme.
The level of take up at Beauchamp Business Park demonstrates the strength of demand from local companies wanting to grow their business within Leicestershire and companies from outside of the region choosing to make Leicestershire their new home.
By working in partnership with Investment Manager, Oliver Whittaker at Invest in Leicester, Clowes Developments has formed a strategic partnership that is committed to enhancing the local economy by attracting new companies, creating employment opportunities and promoting future growth. This collaboration will benefit the local economy and boost job creation in the local area.
In October, Units A and B were purchased by a Leicester based family of investors, and now terms have been agreed on the majority of remaining units.
Mike Denby, Director of Inward Investment at Invest in Leicester, says: “Leicester and Leicestershire presents an exceptional location for businesses seeking expansion, as evidenced by the popularity and quality of businesses at Beauchamp Business Park.
“By collaborating with companies like Clowes Developments and its partners, we can provide the infrastructure that supports ambitious businesses, fuelling growth within our region.”
Paul Turner, Construction Director at Clowes Developments, says: “The level of demand we have seen for the site has been phenomenal which shows the strength of the real estate market in Leicestershire currently. We are proud to be delivering another scheme that will benefit the East Midlands economy and boost job creation in the local area.”
Ben Hall, Director at IMA Architects, adds: “We have been involved in the creation of Beauchamp Business Park from the start and have been able to create units that will be perfect for a range of industrial uses. It is fantastic to see the popularity of the site and I am sure it will be an asset to the local economy for years to come.”
Construction is underway at the site with Phase One completion expected in April 2024. Phase Two is currently being marketed on a leasehold and freehold basis. When complete, the site will feature a series of freehold and leasehold industrial units ranging from 1,270 sq ft to 10,085 sq ft.
PwC appoints Helen Ward as Midlands deals leader
PwC has appointed Helen Ward as Midlands deals leader, succeeding Matthew Hammond who has led the deals practice over the past few years.
Helen joins the Midlands senior leadership team having built her career with PwC since 1996, most recently as a transactions partner in the deals practice. Helen specialises in providing financial due diligence services to a range of corporate and private equity clients, with a national focus on industrial products and services sectors, as well as a broad range of clients based in the Midlands.
Her priorities in the role will be to continue to build the deals practice in the region to support local businesses, as well as working with some of the firm’s biggest national clients, and helping to develop the next generation of talent.
Speaking about the appointment, Helen said: “I’m delighted to be taking on the role of Midlands deals leader. Having built my career in the Midlands since first joining the firm, it’s fantastic to be supporting the vision and strategy for the future of the region.
“As a diversity champion, I’m particularly focussed on developing our exceptional talent base and ensuring we have the right pathways in place to help all of our colleagues reach their career goals.”
David Morris, PwC UK Midlands regional market leader, said: “Helen brings a wealth of knowledge and experience working with some of the firm’s largest clients, and her commitment to developing talent will benefit so many of our colleagues.
“With almost 50% of PwC’s people based outside London, this appointment reflects the continued commitment and investment in our regional practices.”
Community health business acquires local pharmacies
Health business Jhoots Pharmacy has acquired 36 community pharmacies with support from HSBC UK, with sites spanning from the Peak District to Hampshire. The deal is expected to protect 212 jobs and create up to 130 new roles.
Jhoots Pharmacy will use a £17.4m funding package to acquire the sites across the UK which were previously owned and managed by Lloyds Pharmacy, securing jobs within small neighbourhoods and villages.
Jhoots Pharmacy, which owns and operates 63 sites across the UK, will use the funding to undertake refits and enhance pharmacy offerings, ensuring local communities have access to urgent care services – such as referrals from doctors, sexual health consultations and travel clinics – to alleviate GP waiting times.
Sarbjit Jhooty, business development director at Jhoots Pharmacy, said: “We were looking for the right banking partner to support our business and our vision to grow into a larger pharmacy chain. With HSBC UK’s backing, we’re committed to providing a service that puts the community first, with a strong face-to-face approach that will offer enhanced support to local areas.”
Partho Bose, relationship director at HSBC UK, added: “It’s extremely important to increase the access to care in the UK. With our extensive understanding and experience within the health sector, we’re providing Jhoots Pharmacy with financial foundations to realise the business’s ambitious growth plans as well as protecting and creating jobs.”
Citra Living acquires 63 homes at Leicester Waterside
Citra Living, the rental housing owner and operator that is part of Lloyds Banking Group, has acquired 63 homes from national housebuilder Keepmoat at its Waterside scheme in Leicester, marking the next step in their partnership.
A new neighbourhood at the gateway to Leicester city centre, Waterside forms part of the wider regeneration of the city’s waterways that is unlocking underused brownfield land along the River Soar and Grand Union Canal.
It will see formerly neglected industrial buildings transformed into a new neighbourhood of 300-homes. It also benefits from its proximity to a range of schools, supermarkets, and green spaces such as Abbey Park and Castle Park, as well as over 50 restaurants within a 15-minute walk.
The properties Citra has acquired include eight apartments and 55 houses, from one to four-bedrooms, designed to suit a range of residents from growing families to commuters and empty-nesters who want to be close to the city centre.
Seven properties have already been handed over to Citra, with a further 56 due to be completed by August 2024. JLL will provide property management services for these new homes.
Sustainability is at the heart of the development, with smart technology used throughout to improve energy efficiency and reduce emissions. In line with this, 95% of the homes that Citra has acquired will have an EPC environmental rating of ‘B’.
The wider Waterside regeneration project also includes plans for flood protection measures, enhancements to biodiversity and improved access to the canal and river.
The partnership between Citra and Keepmoat was announced earlier this year, with the aim of increasing the supply of high-quality rental housing across the UK by building Citra’s portfolio of purpose-built rental properties. This latest acquisition follows the partnership’s exchange of almost 50 homes at Gedling, Nottingham in August.
Andy Hutchinson, Managing Director of Citra Living, said: “The unused brownfield site at Leicester’s waterside has so much potential and, thanks to the ongoing investment from the Council and others, it is set to become a vibrant new neighbourhood that will benefit the community for generations to come.
“That’s what made it the perfect fit for Citra, as we continue to offer rental options where people want to live long-term, close to employment hubs and amenities.
“Like many other UK cities, Leicester has a striking shortage of homes available for rent, so, we’re pleased to be able to support Keepmoat in replacing unused land with high-quality, sustainable homes.”
Tristin Willis, Regional Managing Director at Keepmoat, East Midlands added: “Partnering with Citra to progress the development of the disused brownfield land at Waterside is a huge success for the area and is also paramount to Keepmoat’s commitment to creating sustainable communities.
“We’re extremely proud of our partnership model that allows us to work across local authorities, partners and housing associations to deliver much needed sustainable, new homes.”
Flogas acquires standby generator specialist DTGen
Syston-bsed off-grid energy provider Flogas Britain has acquired DTGen, a specialist in standby power generators and combined heat and power systems.
This move is said to represent a pivotal step in Flogas’ mission to provide commercial and industrial businesses across the UK with a comprehensive range of energy solutions.
With DTGen on board, Flogas will now be able to offer a broader range of energy solutions to customers with high energy needs. This includes emergency/standby diesel and gas power generators that can also be fuelled using lower carbon LPG and HVO, as well as CHP systems, and high voltage services – all of which are aimed to lower emissions, increase energy efficiency and reduce costs.
The move also combines DTGen’s specialist engineers, high-voltage certified professionals and skilled service technicians with Flogas’s expert team, so customers right across the UK will benefit from the highest quality of service and support all in one place.
Flogas MD Ivan Trevor says: “DTGen is a fantastic addition to the Flogas family, and this move really step changes our offering to higher energy users and those with onsite power generation needs. The synergy between the businesses was clear, and we knew that combining our offering and expertise would really strengthen our proposition. By joining forces, we can now deliver start-to-finish, tailored solutions for commercial and industrial customers, whilst also fulfilling their on-going energy supply – it makes us a real one-stop-shop.”
Paul Moore, MD at DTGen adds: “This is a really positive and exciting development for our business and the growth of our people, opening up lots of new opportunities. We’ve worked really successfully with Flogas in the past, so by coming together and operating as one team, our offering and combined expertise becomes unrivalled, and we’re excited to bring this to large-scale energy users nationwide. We’re also equally dedicated to helping businesses transition towards a lower carbon future, and together we have the perfect portfolio and future-ready energy supply to make this happen.”
Olympic cycling medallist joins University as Head Coach
Double Olympic cycling medallist Bryan Steel has joined the University of Derby’s Team Derby Performance Sport Cycling as Head Coach.
Bryan Steel represented Team GB at four Games from 1992 to 2004, winning bronze in the team pursuit event at the 2000 Sydney Olympics and silver in the same discipline at the 2004 Athens Games. He has also picked up five World Championship and three Commonwealth Games medals.
Bryan has been actively involved in the development of cycling in the region since 2012 and founded his own cycling academy in 2015.
Team Derby’s Performance Sport Cycling programme supports student athletes in track, mountain biking and road cycling to develop as athletes and study for a degree. Cyclists on the programme attend weekly sessions at the state-of-the art velodrome at Derby Arena and are offered a comprehensive support package to help them balance their studies and training.
Bryan said: “Over the last eight years my passion has been to support and develop young talented cyclists to achieve their full potential. Now, working with the University of Derby, I feel we have the chance to develop one of the best rider pathways while giving each rider a better career opportunity inside and outside the sport.”
Construction milestone achieved for new Football and Community Hub
An important milestone has been reached in the creation of Derby’s new state-of the-art Football Hub.
Contractors Universal Civils and Build have reached the topping out stage of the build at Derby Racecourse, which signifies the completion of the roof on the building. This new sports building will regenerate football, providing sustainable facilities for all-year use, ensuring a long term future for grassroots football.
This project has secured collaborative funding from Derby City Council, the Premier League, The FA, and the Football Foundation. Upon its completion, the facilities will be under the management of the National Football Trust on behalf of Derby City Council, with day-to-day operations overseen by Leisure United.
The new facilities will include three new full-size 3G football turf pitches (FTPs), as well as refurbishment of the existing FTP, a new community building with a community café, reception area, and meeting spaces have been extended onto the existing Football Foundation funded changing room pavilion.
In addition to the enhanced pitch provision, the Hub development will include increased parking spaces, improved entry and exit to the site along with improved foot and cycle paths through the park.
In March 2023, Universal Civils and Build commenced construction of the Football and Community Hub after being appointed to the project by the Council’s leisure development partner Alliance Leisure.
The announcement of the topping stage completion is a significant achievement in finalising the external structure and roof of the community building. In parallel, TigerTurf, the appointed contractor for the 3G football turf pitches, has confirmed that their work is proceeding as planned. The project remains on schedule and will officially open its doors to the community in early 2024.
As planned, the site’s grass pitches have been back in use since early September, meaning football players have been able to return to the Racecourse for their local league matches.
Councillor Hardyal Dhindsa, Derby City Council’s Cabinet Member for Communities and Streetpride, said: “Reaching the topping phase of the development of the Derby Racecourse Hub is a real milestone, and we’re now well on the way to seeing the completion in early 2024.
“This development will offer a remarkable state-of-the-art building and pitches for grassroots football in Derby, but it extends beyond football; it will also create inviting community spaces where residents can come together and enjoy Racecourse Park.”
Commenting on construction progress, Will Gardner, Business Development Manager, representing Alliance Leisure, said: “With construction works progressing on time we are really pleased with how the development is coming along. The assembled team have come together to work collaboratively on the Hub and it’s been great to see the progress being made.”
Martin Glenn, Chair of the Football Foundation, said: “The new facilities here at the Racecourse will not only provide a boost to sport in Derby, but also a space for the local community to come together.
“Thanks to the investment we receive from our funding partners, the Premier League, The FA and Government, the Football Foundation is working to deliver more Hubs like this across the country so that everyone can have access to great places to play.”
Council looks to invest in Worksop Market
Bassetlaw District Council is putting forward a proposal to create a new dedicated indoor market area at the Priory Centre as part of a £20 million town centre investment.
In January 2023, the Council was awarded £17.9m of UK Government Levelling Up Funding to invest in Worksop Town Centre, with an additional £2 million in funding provided by the Council and its partners.
In this time, the Council has taken ownership of the Priory Centre and has announced, along with its leisure partners BPL, the creation of a town centre facility that mixes retail, entertainment, and leisure.
Just some of the facilities already confirmed will include a new food court, a bowling alley, climbing wall and indoor adventure play area, as well as new toilet facilities and a Changing Places toilet.
The Council is now asking the public, traders, businesses and local stakeholders for their views on a proposal to create a dedicated, multi-functional, indoor market area that would reposition the markets from their current location of Bridge Street, into the Priory Centre.
Cllr Julie Leigh, Cabinet Member for Identity and Place, said: “Through the Levelling Up Fund, we intend to revitalise Worksop Town centre, including making an investment in our markets that will open up a number of new opportunities for both traders and the public.
“A new, indoor home for the markets presents traders with the option to operate seven days a week, 52 weeks per year, should they wish to do so, breathing new life into a market that has been established over many years.
“Being located indoors, at the heart of a major new regeneration project, it also provides a more reliable environment to encourage start-up businesses and create a route of progression for market traders to grow from a stall to a retail unit.
“This proposal will place the markets at the heart of the shopping centre and safeguard them for future years by making Worksop’s markets more financially sustainable and self-reliant.”
Nationally and locally, markets have been in decline over the last 10 years, with the Council’s income from markets reducing year on year. Added to this, the costs of running Worksop’s markets have increased significantly. The current cost to the Council to provide a market now outweighs the income received.
Currently the overall cost to the Council to provide a market in Worksop each year, after income, stands at £183k. The Council’s aim is to reinvigorate Worksop Market so that it provides a sustainable income, allowing reinvestment into the market for the future.
Fairham representatives select Lincs and Notts Air Ambulance as neighbourhood’s charity partner
Representatives from Nottinghamshire’s brand-new neighbourhood, Fairham, have committed to raise funds for Lincolnshire and Nottinghamshire Air Ambulance (LNAA).
Fairham, a 606-acre site, is in the process of becoming a whole new neighbourhood for Nottingham with 3,000 new homes, one million sq ft of employment space and 200 acres of open green space. There will also be a neighbourhood centre and new educational, community, sports and leisure facilities.
Due to Fairham’s locality and the vast amount of construction work taking place on site to deliver this new neighbourhood, it became apparent that in the event of an emergency, it would likely be the LNAA that would play a vital role in saving someone’s life. HSE reported that in 2022 to 2023 out of 135 workplace fatal injuries, 45 happened within the construction industry.
The LNAA offers a vital life-saving service, providing pre-hospital emergency treatments to seriously ill or injured patients at the scene of an incident. Whatever the time of day, they are at the side of patients when they are most in need.
Additionally, its Leonardo AW169 helicopter is one of the most modern helicopters flying today and can reach a top speed of 216mph and has a cruising speed of 180mph; three times faster than a land ambulance, which means its team of highly skilled clinicians can reach anywhere in the counties of Lincs and Notts, including Fairham within 20 minutes.
Fairham delivery partners, Clowes Developments and Homes England, selected the local charity to benefit from any funds raised at the development during the 10-15 year lifespan as they deliver the brand-new neighbourhood.
Lead infrastructure contractors, O’Brien Contractors Ltd contacted Clowes Developments about supporting a local charity with a generous donation of £2,000. Naturally, the partnership with LNAA presented an opportunity for O’Brien to kick start the fund-raising activity with their generous donation to this much needed charity.
Tom O’Brien, Director at O’Brien Contractors Ltd, commented on the donation: “O’Brien Contractors Ltd are proud to support our clients, Clowes Developments and Homes England with not only the delivery of major infrastructure works at Fairham but also in their endeavours to raise much needed funds for Lincs and Notts Air Ambulance.
“As has already been mentioned, the construction industry has a frighteningly high workplace fatal injury rate, to know that we are giving something back to a service that helps save lives provides a full circle moment.”
John Todhunter, Project Manager at Fairham, added: “I am delighted to confirm that representatives from Clowes Developments and Homes England have chosen the Lincs and Notts Air Ambulance as its charity partner for its prestigious Fairham Development.
“We are in awe of the service that the air ambulance provides in moments of need and are very aware that they are 100% reliant on public donations. We have a number of fundraising activities planned for the development, which will hopefully raise money and awareness for this excellent cause.
“We wish to place on record our thanks to O’Brien Contractors Ltd for kick starting the fundraising with a generous £2,000 donation.”
The charity’s helicopter is a top of the range Helicopter Emergency Medical Service (HEMS) aircraft offering head to toe access to patients in flight. Crew also carry blood on board, allowing them to deliver potentially life-saving blood transfusions at the scene. A typical call out costs around £4,000.
Lincolnshire and Nottinghamshire Air Ambulance’s Corporate Partnerships Manager, Joe Harper, said: “We are incredibly grateful to everyone involved in the development of the Fairham neighbourhood for their generosity in selecting us as Charity partner.
“Keeping our helicopter in the sky and our fleet of critical care cars on the road, providing a 24/7, 365 days a year service will cost £10m in 2023. As we receive no Government funding, we really do rely on local communities in Lincs & Notts to support our work. Thank you.”
MBO for Loughborough-based electronics manufacturer
Mariam Smith, Managing Director of Datalink Electronics, has spearheaded a management buyout (MBO) of the Loughborough-based company, with the help of KBS Corporate.
Datalink Electronics was established in 1983 and provides a variety of integrated design and production services to a broad customer base ranging from multinational PLCs to start-up businesses.
The two shareholders, Eric Luckwell and Ian Wilson, decided the time had arrived for them to retire and instructed KBS to orchestrate a sale process, during which it became clear that an MBO led by Mariam would be the ideal solution.
Fabio Rambelli, KBS Corporate associate director who oversaw the transaction, said: “Mariam had a very active management role and was gradually taking over an increasing number of responsibilities from the shareholders, which meant she was the perfect person to sell the business to.
“I’m happy the MBO completed as Mariam is absolutely the best person to take over the company.”
In their announcement of the deal, Datalink heralded the MBO as “a pivotal move that signifies a new era” for the business and “a catalyst for strategic evolution.”
“Having effectively run the company for the past 12 months, Mariam emphasises the infusion of new talent, machinery and a streamlined structure,” Datalink’s statement said.
“The MBO brings more autonomy, allowing Datalink to focus on key areas such as talent acquisition and investment in equipment. This new-found independence is set to redefine the company’s strategic direction, creating a dynamic and responsive organisation.
“The post-buyout strategy includes exploring new partnerships and collaborations that align with Datalink’s growth objectives, reinforcing the company’s commitment to innovation and excellence in electronic design and manufacturing.”
Fabio Rambelli added on behalf of KBS: “I would like to thank Eric, Ian and Mariam for their hard work on this transaction and for working with us. I wish all parties the very best in the future.”
Ground broken on East Midlands Institute of Technology
A ground-breaking event has taken place for the upcoming East Midlands Institute of Technology (EMIoT) at Derby College Group’s Roundhouse Campus.
The Institute of Technology (IoT) at Derby College Group (DCG) will welcome collaboration between academia and industry to address the growing demand for skilled professionals in technology-related fields. The facility will feature state-of-the-art classrooms and collaborative workspaces designed to provide students with a hands-on and immersive learning experience.Ellis Boyall, Site Manager for Davlyn Construction previously studied at DCG and now is back at the Roundhouse site to manage the IoT build. Whilst at DCG, Ellis initially studied carpentry, then went onto a level 3 NVQ diploma in construction contracting operations at the Hudson and Johnson buildings, completed a foundation degree in construction and the built environment and then gained a Bachelor of Science Degree (Hons) from Nottingham Trent University.
Ellis has considerable experience in construction, and has led many projects, including locally, at Brackenfield Send School in Long Eaton, Mickleover Primary School and Loxley House in Nottingham.And during his time with DCG, he helped with the construction work of buildings at Broomfield Hall Campus. Ellis said of his role at the College: “I didn’t anticipate I would be coming back. However, I am absolutely delighted to lead the onsite work for the construction of the IoT. And it is bringing back many fond memories.“I studied at the College in 2009 and 2014 and it is great for me to be able to apply my learnt skills at the College, as DCG has significantly helped me in my career. And it is particularly exciting, being involved in the building of the IoT, as the new building will help the next generation of learners on their career journey. I also hope I can inspire others to consider joining the construction industry.”Also, during 2024, Ellis will also be addressing the DCG students and giving an insight into his career path and working in construction and he will also be hosting tours around the site for the students to help them understand the elements that they may be working on within their classrooms.Joe Charles, Construction Director of Davlyn Construction, said: “When it came to the IoT build at the Roundhouse, Ellis was a natural choice to lead this. He is excellent at problem-solving and excels at leading teams. “It is a pleasure to be working with DCG on this construction and we are really looking forward to seeing the results of this high-tech build in just under a year.”
The EMIoT is a partnership between Derby College Group, the University of Derby, Loughborough College, and Loughborough University, with the aim to deliver world-class, research-orientated, employer-led learning facilities, founded on clean growth and digital delivery.
The EMIoT is working closely with global powerhouse employers, including Rolls-Royce, Uniper, Toyota, National Grid ESO, Alstom, Fujitsu, and Bloc Digital to ensure programmes deliver a workforce with the future ready skills.Kate Martin, Deputy Principal of DCG said of the milestone: “It is great to have Ellis back, and on this project. It also good to be working with Davlyn, as a local family business who have built their reputation on quality builds.”Kate also commented further on the IoT: “The Institute of Technology represents a pivotal moment in the evolution of education and training at DCG. This facility will not only meet the growing demand for skilled professionals in the technology sector but will also serve as a hub for innovation, collaboration, and industry partnerships. “By collaborating across the FE and HE sectors, the development of the IoT will increase chances for those wishing to retrain or upskill mid-career as well as young people entering the workforce.”Supported by Department of Education funding, the East Midlands Institute of Technology will be open in August 2024, with a college community of 2,000 learners by academic year 2027.The new facility as part of the EMIoT is being built at the front of the Stephenson building on the Roundhouse site in Derby.
Egg business fined £233,000 after 19-year-old’s death
A mother has spoken about her grief after her only child was killed while working at Sunrise Eggs in Loughborough.
Nineteen-year-old Ben Spencer had only been working for Sunrise Poultry Farms for two weeks when he was crushed between a heavy goods vehicle (HGV) and a wall on 12 April 2021.
His mum Tracy says she would like nothing more but to “curl up in a ball” after his death at the site in Sileby. “My life revolved around Ben, because it has always been just me and him,” she said. “I used to go out every day, even if it was just for a walk, and we used to go on family holidays, all of us with a caravan.
“Now I’ve got no life. Sometimes I walk the dog at eleven o’clock at night to avoid running into people, I just can’t face getting into a conversation with them. I find myself keeping my distance from everyone, I just can’t cope with the idea of feeling close to someone, even my family.
“My dreams are of Ben when he was younger and I just yearn to be back there. Those years standing on the edge of a football pitch watching him in the freezing cold and now I’d just go back there in heartbeat.”
The HGV was attempting a complex manoeuvre towards a narrow thoroughfare at the Seagrave Road premises as Ben Spencer was walking towards it.
An investigation by the Health and Safety Executive (HSE) found that measures in place for segregating pedestrians and moving vehicles were wholly inadequate.
Sunrise Poultry Farms, of Seagrave Road, Sileby, Loughborough, pleaded guilty to breaching Regulation 17 of the Workplace (Health, Safety and Welfare) Regulations 1992 and was ordered to pay a fine of £233,000 plus costs of £8,841 at a hearing at Leicester Magistrates’ Court on 22 November 2023.
Speaking after the hearing, HSE enforcement lawyer Andy Siddall said: “The company admitted failing to segregate vehicles and pedestrians at its workplace in Sileby and that resulted in the tragic death of Ben.
“Accidents like this simply shouldn’t happen and a mother shouldn’t have to hold the hand of her son as he lies dying in the workplace. So please check your workplace transport risk assessments, think carefully, and ensure that everybody goes home safely.”
HSE inspector Alex Nayar said: “Our thoughts today are with Ben’s family and friends. He was at the start of his working life. He should have returned home safely to them at the end of his working day, but because of the failings of Sunrise Poultry Farms Limited, he did not.
“Ben’s death could have easily been prevented if they had adequately assessed and controlled the risks associated with workplace transport, a leading cause of death in the workplace.”
Streets Chartered Accountants reflects on the Autumn Statement
Streets Chartered Accountants has provided a handy roundup of content, breaking down the Autumn Statement.
Post Autumn Statement webinarStreets hosted a post Autumn Statement webinar providing details of the announcements along with an update on topical issues affecting business clients and private individuals during this tax year 2023/24. This presentation was recorded and is now available on demand for those who weren’t able to join live. Click the watch now button below to catch up.
Streets’ guide to The Autumn Statement The Chancellor’s 2023 Autumn Statement contained some important announcements and confirmed a number of changes planned for the new tax year. Following this, Streets has put together a report containing the latest tax and financial information, which is available to download using the link below.
