Stronger than expected first half for Belvoir Group
Belvoir Group, the property franchise and financial services group with its central office in Grantham, has witnessed a “stronger than expected” first half.
According to a trading update, revenue during the six months to 30 June 2023 increased by 3% on 2022, with revenue growth in both its property franchise and financial services adviser networks, despite more challenging market conditions in the first half of 2023.
The business noted that it is “outperforming the market across all three of its revenue streams; lettings, sales and financial services.”
Dorian Gonsalves, CEO of Belvoir Group, said: “Our tried-and-tested franchise business model, the diversity of our income streams, the recurring nature of our lettings revenue and our successful acquisition strategy, both at franchisee and corporate level, have enabled the group to meet and overcome the challenges currently facing the property sector.
“Our franchisees derive 80% (H1 2022: 78%) of their income from recurring lettings fees and have benefitted from increasing rents. This has more than offset the impact of a reduction in UK housing transactions in H1 2023. Meanwhile, our financial services advisers have been able to meet client demand for remortgages and product transfers in the face of increasing mortgage rates and this has mitigated the reduction in new purchase mortgages.
“The high degree of uncertainty created in the property and mortgage markets following the mini budget in September 2022 and subsequent interest rate rises, resulted in a drop-off in mortgage applications and house sales instructions towards the end of 2022 and made it very difficult to forecast the impact of increasing bank base rates on these markets in 2023.
“However, the outperformance of our business model continues to reflect the entrepreneurial nature of our franchisees and self-employed financial services advisers, who remain entirely focused on maximising the opportunities presented in all market conditions.”
Judy lands sales account manager role with Pinelog
Judy Barwell has joined Chesterfield-based timber lodges and building maker Pinelog as Sales Account Manager.
She joins from Adlington, a developer of award-winning retirement developments. Within her new role Judy will work alongside Associate Director Paula Skelton in driving forward the company’s ambitions to increase its share of lodge supply to the holiday park sector.
She said: “I am really excited to be working with such a high quality product that uses natural materials. The sustainability credentials of Pinelog are very important to me both personally and professionally.”
Judy, who lives in Dronfield, brings experience in property sales as well as having a design background. She previously worked in a range of design, development and supply chain roles in the clothing industry, as well as lecturing in design for a number of years.
She said: “The role at Pinelog combines my technical, design and sales experience. As well as understanding the production process, I am able to guide purchasers through the entire process from initial enquiry to the design and delivery of a lodge.”
Her appointment follows the company’s relocation to a new, larger site in Chesterfield, Derbyshire, earlier this year. Prior to its relocation the company had been based in Bakewell since being founded in 1974.
The new, larger site at Sheepbridge has enabled the company to bring its entire production process under one roof, increasing both jobs and production of its class-leading lodges.
As well as the production of complete holiday lodges, components for the construction of timber Glulam framed commercial buildings designed and built by Pinelog are also manufactured at the site.
Nick Grayson, Chairman of Pinelog Group, said: “Judy’s appointment and our move to the new facility mark a new chapter in Pinelog’s story; one which has seen us modernise, invest in new technology and further improve the business to help holiday park operators capitalise on the ongoing demand for staycations.”
Nottingham drug discovery firm accelerates global growth with North American acquisition
Nottingham-based integrated drug discovery partner, Sygnature Discovery has acquired one of North America’s largest discovery Contract Research Organisations, Canada-based NuChem Sciences.
This acquisition cements Sygnature as one of the world’s largest players in integrated drug discovery phase solutions and advances their vision to become the global market leader.
The transaction creates a significant competitive advantage for Sygnature as it expands its global footprint and business operations to leverage discovery expertise in the North American market.
Marc Lebel, Pharm. D., president and chairman at NuChem Sciences, said: “Our company goals and values fit perfectly with those of Sygnature in becoming a global leader in drug discovery services. We are delighted to become an integral part of the Sygnature Group, allowing us to leverage our deep scientific expertise and presence across North America and Europe, to the benefit of customers and employees.”
NuChem Sciences, a discovery CRO in the North American market, employs over 300 staff across centres of excellence in Montreal and Quebec City, Canada, where the company will continue to operate and drive further market expansion across North America.
Founded in 2011, NuChem Sciences delivers expert integrated and standalone discovery solutions across medicinal, synthetic, scale-up, process and computational chemistry, as well as DMPK, in vitrobiology and in vivo pharmacology. Additionally, the company provides protein chemistry services and offers crucial knowledge-based expertise in structural biology at the initial stages of drug discovery to global biotech and pharmaceutical companies.
Following this acquisition, Sygnature Discovery will have more than 1,000 staff across 53 nationalities, including over 900 scientists who work on standalone and integrated drug discovery programmes for pharma, biotech, VCs, and NFPs. Founded in 2004, the company has successfully delivered over 40 novel drug candidates into pre-clinical development and 22 into clinical trials, with its scientists named on over 170 patent applications.
Dr Simon Hirst, CEO at Sygnature Discovery, said: “This acquisition represents a pivotal milestone in the Sygnature growth plan, allowing us to deliver better discovery solutions to customers around the world.
“The addition of NuChem Sciences greatly enhances Sygnature Discovery’s offering, making us a highly differentiated and integrated drug discovery partner with unrivalled scale and range. NuChem is a like-minded business that complements Sygnature’s existing services, towards our joint mission of improving the world’s health.”
In addition, Marc Lebel commented that “this acquisition could not have taken place without the support and partnership of Amorchem, Investissement Québec, Fonds de solidarité FTQ and the Business Development Bank of Canada; I would like to extend my thanks to all involved.”
This is the third in a series of acquisitions over the last sixteen months that have formed part of Sygnature’s global expansion, following the investment by Five Arrows in Summer 2021. Previous acquisitions made were Peak Proteins in April 2022 and SB Drug Discovery in January 2023.
David Jones, corporate finance advisory partner at Deloitte in the Midlands, said: “The strategically important acquisition of NuChem Sciences marks a significant milestone for Sygnature Discovery both locally and globally. The deal will boost Sygnature’s standing on the international stage, facilitating its growth across a global customer base.
“We were delighted to be involved in this transaction, which brings together two major players in the preclinical drug discovery market. Having worked closely with the Sygnature team to fulfil their strategic objectives, the deal signifies an exciting new period of growth for the team as it builds out its service offering.”
Streets Chartered Accountants covers tax topics, NICs, alcohol duty changes and Investment Zones in new news roundup
Streets Chartered Accountants covers tax topics, NICs, alcohol duty changes and Investment Zones in its latest monthly news roundup.
South Yorkshire first UK Investment Zone
It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been named as the first of the UK Investment Zones…
What do we mean by cost of living?
A simple dictionary definition of cost of living would probably say something like:
The level of prices relating to a range of everyday items…
The problem is, the price inflation for food, or fuel for your car, or heating costs will vary. Although inflation is quoted as just under 9% in the UK, this disguises the true rate of cost increases in different sectors…
Getting a SA302 tax calculation
The SA302 tax calculation and tax year overview documents are commonly used as evidence of income for loan or mortgage purposes for the self-employed. The forms have become more widely used since the mortgage rules have required evidence of income for the self-employed. The SA302 provides this evidence for the last four years Self-Assessment tax returns…
Tax on savings interest
If you have taxable income of less than £17,570 in 2023-24 you will have no tax to pay on interest received. This figure is calculated by adding the £5,000 starting rate limit for savings (where 0% of the interest is taxable) to the current £12,570 personal allowance. However, it is important to note that if your total non-savings income exceeds £17,570 then the starting rate limit for savings is unavailable…
Tax on property you inherit
If you inherit property, you are usually not liable to pay tax on the inheritance you receive. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any cash or assets are distributed to the estate beneficiaries…
When you don’t have to pay Capital Gains Tax
In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes, effectively, at no gain or loss on the date of the transfer. When the asset ultimately comes to be sold the gain or loss will be calculated from when the asset was first owned by the original spouse or civil partner…
Filling gaps in your NIC record
National Insurance credits can help qualifying applicants fill gaps in their National Insurance record. This can assist taxpayers in building up the number of qualifying years of National Insurance contributions and which can also increase the amount of benefits a person is entitled to, such as the State Pension…
Check a UK VAT number is valid
The check a UK VAT number service is available at: www.gov.uk/check-uk-vat-number.
This service allows users to check:
- if a UK VAT registration number is valid; and
- the name and address of the business the number is registered to…
659,000 sq ft logistics building changes hands in £84.3m deal
Tritax Big Box REIT has exchanged contracts for the sale of an investment asset let to Howdens in Raunds for £84.3 million.
The purchaser is a leading UK institutional investor in real estate.
The building is one of three at Raunds developed for and let to Howdens Joinery Group Plc. It comprised a 659,000 sq ft logistics building, which the company has owned for seven years, with an unexpired lease term at exchange of approximately 23 years.
Howdens continues to occupy the remaining two buildings, which are owned by Tritax Big Box.
Colin Godfrey, CEO for Tritax Big Box, said: “We constantly seek ways to optimise our portfolio to crystalise value and recycle capital into higher returning opportunities. The disposal, which was in line with the book value at both December 2022 and June 2023, demonstrates the attractiveness of our assets and our ability to fully realise their value.
“The sale to a leading institutional investor in real estate provides further evidence of growing stabilisation within the UK investment market and the strong fundamentals of the sector.”
James joins Superior Wellness as Finance Director
Superior Wellness has appointed James Orton as its new Finance Director, moving from Nuvias UC Limited, a specialist IT Distributor operating across Europe.
As the Finance Director, James will play a pivotal role in shaping Superior Wellness’ financial strategy and driving sustainable growth. He will oversee all financial operations working closely with the Senior Management Team to support the company’s expansion plans and long-term vision.
MD Rob Carlin said: “We are delighted to welcome James to the Superior Wellness team. His extensive experience and proven track record as a financial leader make him an excellent addition to the team.
“We are confident that James will contribute significantly to our continued success as we continue to grow globally. James’ experience will continue to strengthen our existing team and I am looking forward to working closely with him.”
James said: “I am very excited to join the team here at Superior Wellness. The business is extremely well placed for further significant growth, building upon the strong foundations in place due to the quality of its partner relationships, product offerings, and its people.
Aberdeen company chooses Chesterfield specialist for PR and content work
A remote robotics company focused on subsea operations has appointed Chesterfield-based specialist B2B technology PR and content agency Roaring Mouse to help support strategic communications as the company moves to its next round of fundraising.
Based in Aberdeen, HonuWorx combines autonomous submarines, robotics, AI and advanced communications technologies to reduce the risk, cost and carbon footprint of subsea exploration and intervention. It enables a wide range of subsea activities to occur without humans having to leave shore.
HonuWorx has engaged Roaring Mouse to reach and help establish a ‘SpaceX of Subsea’ reputation for the company with prospects and potential partners in the European defence, offshore energy and ‘blue economy’ sectors, as well as potential investors.
James Taylor, MD of Roaring Mouse, comments: “HonuWorx is a true pioneer with a fantastic robotics, AI and communications proposition, a great team and a fascinating ‘SpaceX of subsea’ story to tell. The technology it is bringing to market could fundamentally change subsea access in much the same way SpaceX is opening up access to space, and we are thrilled to be on board.”
81 jobs secured as private investor acquires Leicester aerospace and power generation business
Employment has been secured for more workers, with the joint administrators of Bromford Industries Limited and Accrofab Limited concluding a further transaction to seal the future of the precision manufacturing businesses.
Two business and asset sales to the Enact Fund and Rcapital will preserve employment across the Midlands for 300 people.
Based across three sites in Leicester, Derby and Alcester, Bromford Industries and Accrofab are tier one suppliers to global OEMs in the aerospace, defence and power generation industries, specialising in the precision manufacturing and fabrication of components. Ryan Grant and Chris Pole were from Interpath Advisory were appointed joint administrators to the two companies on 9 March 2023.
As reported on 1 August, the Enact Fund, managed by private equity firm, Endless LLP, has acquired the business and assets of Accrofab Ltd and the Alcester site of Bromford Industries in a transaction that secures the jobs of over 220 employees. The deal will be funded from Endless’ Enact Fund III which seeks to invest in transformational SME opportunities. Following completion of the deal, both companies will trade under the Accrofab brand.
Now, separately, private investor, Rcapital, has completed the acquisition of the Leicester-based aerospace and power generation business of Bromford Group. The transaction secures the jobs of 81 members of staff. The business will now be rebranded as Bromford Precision Solutions Limited.
Rcapital is uniquely placed to support the business in delivering its turnaround, thanks to its strong track record in the aerospace, defence and precision engineering sectors.
Ryan Grant, Managing Director at Interpath Advisory and joint administrator, said: “We’re delighted to have concluded these two going concern sales which not only see production continue uninterrupted across all three sites, but importantly, safeguards 300 jobs.”
Ryan Grant added: “Following our appointment, we were able to trade the businesses for a period of twenty weeks, during which we were able to maintain continuity of supply and minimise disruption to customers.
“We’d like to extend our profound thanks to the many stakeholders who have provided tireless support to the administration team over the past five months, including customers, suppliers and Bromford’s dedicated staff. Their support has enabled us to come to these two agreements which set both businesses up for a fresh start under new ownership.”
Victoria Horishny, director at Interpath Advisory who advised on the two transactions, added: “The weeks spent trading the business as a going concern afforded us time to find the right home for both businesses, with investors who will be able to instill a solid platform upon which to take them forward.
“The Enact Fund will allow further investment to be made in the Alcester and Derby sites, broadening both their capability and capacity. Meanwhile, Rcapital has an established track record in the aerospace, defence and precision engineering sectors with other investments in its portfolio including Trac Precision Solutions and Nasmyth Group.”
Only 4 weeks until nominations close for the East Midlands Bricks Awards 2023!
With the nomination deadline (Thursday 31 August) approaching quickly for the East Midlands Bricks Awards 2023, there’s only four weeks left to make your submissions for the annual celebration of the property and construction industry!
Scheduled to take place on Thursday 28 September, the Bricks shine a light on the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools. We also highlight the work of architects, agencies and those behind large schemes.
The glittering awards ceremony revealing winners, at the spectacular Trent Bridge Cricket Ground, will also offer the perfect chance to forge new contacts with property and construction professionals from across the region. The event will additionally feature Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, as keynote speaker.
Commenting on the East Midlands Bricks Awards, Rob Day, chairman and founder of Blueprint Interiors, said: “Over the last four years we have sponsored and also been an awards finalist. This profile has definitely helped us raise our brand awareness and helped us win bigger and better contracts.”
Entries for the awards are open until Thursday 31 August. To nominate your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page:
To be held at:
- 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)
The Overall Winner of the East Midlands Bricks Awards 2023 will also be awarded a year of marketing/publicity worth £20,000.
Find out who last year’s winners were here.
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:
R&D claims to come under greater scrutiny, as HMRC reveals £1 billion of ‘fraud and error’
Challenges against R&D claims are set to ‘intensify’ for businesses, after HMRC uncovered more than £1 billion of ‘fraud and error’.
A new report from HMRC has revealed £1.13 billion of fraud and error in research and development tax credits claimed by SMEs in 2020-21.
According to the report, the overall level of error and fraud for both R&D tax relief schemes (SME and RDEC) across all sectors of the economy was the equivalent to 16.7% of claims, significantly higher than HMRC’s previously published estimate of 3.6%.
Ross Northall, BDO partner and head of Innovation Taxes for the North, said: “This announcement will have a significant impact on businesses, particularly SMEs, as it cements HMRC’s stance on R&D claims and the level of challenge it’s prepared to undertake against potential fraud and error. What is clear is this level of scrutiny is not going to go away and will in fact intensify, as HMRC seeks to use newly introduced legislation to challenge claims.”
In August, tighter rules around R&D claims will come into force. Claimants or their R&D advisers will have to fill in an Additional Information Form which is designed to allow HMRC to quickly assess the validity of any claim and the level of expertise of any R&D agent used to prepare the claim. HMRC has also risk-profiled claims across the different business sectors and by size of claim.
Northall added: “Businesses will need to ensure more than ever that they are clearly demonstrating their qualifying activities to HMRC when submitting claims and, where they use professional advisors to support them in doing this, that they have the skills needed to provide high quality advice and support to these businesses.
“Failure to do so could result in HMRC opening enquiries that will prove expensive and time consuming to deal with. Should HMRC be successful in their challenge, it will also result in the denial of relief, potential penalties, and the possibility of HMRC also looking at earlier submitted claims, further compounding the problem.”
The figures come as the government unveiled draft legislation to change the UK R&D regime, with proposals to merge two schemes – the Research and Development Expenditure Credit (RDEC) and the small or medium enterprises (SME) R&D relief.
The aim of the single R&D relief scheme is to achieve tax simplification, including having a single set of qualifying rules, particularly around subcontractor costs and in the restriction of claims where R&D work is deemed to be subsidised.
Northall warned that the changes could go ‘too far too fast’ if implemented from April 2024, hitting innovative businesses and creating more uncertainty. He said: “Following the review of R&D reliefs launched in Rishi Sunak’s 2021 Spring Budget, the government has taken many steps to reduce the costs of the UK’s R&D scheme to get better ‘value for money’ – while this is understandable, I’d argue that this latest move is going to prove the most disruptive yet.
“Given all the recent changes, creating yet more uncertainty by changing the R&D regime again for accounting periods beginning on or after April 2024 could risk turning innovative businesses away from investing in the UK.”
The current SME and Research & Development Expenditure Credit (RDEC) schemes offer different rates of relief with the SME scheme being more generous – even after the reductions in tax relief from 1 April 2023.
Northall continued: “Under the proposals, many start-up and growing businesses will be concerned that they will get even less tax relief under a combined scheme – although the higher relief for R&D intensive businesses looks set to continue – albeit running alongside the new scheme.
“Businesses understand that the government will move the goalposts to make it harder for fraudsters to win tax reliefs from HMRC. But, making radical changes to tax law at such short notice not only creates uncertainty for compliant businesses it also risks introducing new rules with loopholes that fraudsters can exploit further down the line.
“The government has not made a final decision to push these changes through from April 2024 and I believe the changes should be delayed until at least 2026 so that they don’t damage the R&D investment the relief is supposed to support.”
Banner Jones advises on sale of Nottinghamshire’s Serene Stone
Banner Jones’ Business Legal Services department has acted for the shareholders in the sale of Nottinghamshire-based stone products manufacturer Serene Stone Limited’s shares to Nene Capital.
The business, which boasts a wide range of quality architectural cast stone dressings and concrete solutions, has been acquired by Nene Capital, which will now look to accelerate the business’s growth trajectory over the coming years.
Primarily investing in UK-based SMEs, Nene Capital concentrates on realising long-term value and maintains an active role in commercial operations to support the delivery of strong financial outcomes.
Founded in 2011, the company has been involved in the design and supply of stone materials for highly bespoke projects across the luxury housing and commercial markets.
As part of the deal, Andrew Fielder, Head of Banner Jones’ Business Legal Services department – supported by colleague and employment law expert, Katie Ash – advised the sellers on the transactional sale, as well as on the Settlement Agreements and on their Consultancy Agreements with the buyer moving forwards.
Andrew said: “It was a pleasure to assist Christopher and Paul with the sale of the business that they have worked so hard to develop. All of the professionals involved in the transaction worked very much in partnership, and I am sure that the business will continue to grow and succeed.”
Next upgrades profit guidance following sales growth
Next has upgraded its profit guidance for the year after strong sales.
In a second quarter trading statement (for May to July), the retailer highlighted that full price sales were up 6.9% versus last year, while the company’s end of season sale went well with clearance rates ahead of group expectations.
It follows a trading statement from Next in June after a period of much better than anticipated full price sales. Next noted: “On 19 June we issued an unscheduled trading statement after a period of much better than expected full price sales, mainly driven by exceptionally warm weather. Since then, full price sales have been up +3.7% on last year. This was ahead of our guidance of +0.5%.”
Next is now increasing its full year profit before tax guidance by £10m to £845m.
Full price sales guidance meanwhile sits at £4.68bn.
Next said: “The combination of £16m of additional full price sales in the last six weeks and improved clearance rates in our end-of-season summer Sale mean that we expect to generate £10m more profit than we anticipated in our last trading statement. Accordingly, we are raising our guidance to £845m.”
Changes at MTM Products include new hire
Graphics supplier MTM Products Ltd has made changes to cater for expanding business, including a new office for the design estimating and sales teams and new hires.
Latest to join the design and estimation team is Jess Gardiner from the South African city of East London.
MTM Products’ MD Mark Niblett said: “We have recently invested in new, modern equipment for screen and digital printing and finishing equipment and a digital transformation programme.
“We have expanded our workforce in areas like management accountancy and sales and continue to value our workers with longevity awards across the company.
“The business has historically been situated in Chesterfield, where we have two facilities. Being in this central region of the country, we are ideally located for distribution throughout the UK, with great transport links to major motorways, ports and airfreight.
“MTM supply other original equipment manufacturers in the UK & EU particularly: automotive, electrical & electronic, rail, medical, construction and machinery equipment. We provide industry-specific stock management systems including lineside stocking, buffer stocks & call off orders.
Chesterfield travel company scoops three national awards
Chesterfield-based Travel Counsellors has taken home three prizes at the Travel Weekly Agent Achievement Awards 2023.
The annual Travel Weekly Agent Achievement Awards are the largest celebration of the travel trade in the UK & Ireland, and the highest accolade for travel agencies and agents. Travel Counsellors won a hattrick of accolades at the event:
- Home working Agency of the Year (Large)
- Best Agency to Work For (Large)
- Sustainability Champion of the Year (Large)
New industrial units planned in Calverton
Gedling Borough Council has revealed plans to construct four new industrial units at Hill Crest Park in Calverton as part of its plans to bolster the growth of local businesses.
The proposed development, subject to planning approval, aims to provide additional business premises tailored to the needs of small and medium-sized enterprises (SMEs) in the Calverton area.
Hill Crest Park currently houses eight business units, catering to various companies, including a machinery manufacturer, directory publisher, shopfitting contractors, and a facilities management company. The popularity of the existing units, and waiting list to get into the units, highlights the demand for such facilities in the area.
Calverton, one of the largest villages in Gedling, has experienced a 7% increase in population between 2011 and 2021, according to the 2021 Census. In line with the adopted Local Plan, the village is expected to continue growing, making it a crucial hub for the Borough’s economic development. By expanding the number of business premises, the project aims to foster additional employment opportunities and reduce the need for commuting to other centres.
The proposed scheme will span 462 square meters. The development is projected to create 18 new job opportunities. The council has also made a commitment to be carbon net zero by 2030 and the units will be equipped with photovoltaic (PV) panels and two electric vehicle (EV) charging points, alongside additional EV provisions for the existing units.
Approval for the planning application is currently pending, and the council has submitted a funding application to the D2N2 Economic Growth Fund Capital Programme, seeking a 50% contribution for the project. In the event of funding approval, construction is expected to commence promptly, with an eye toward supporting the growth of local businesses and stimulating economic prosperity in the region.
Councillor Jenny Hollingsworth, Portfolio for Sustainable Growth and Economy, said: “This is a really exciting investment to a growing economy in the Calverton area. The demand for business units at Hill Crest Park is really high and these plans for four new units will help local businesses’ growth and create new jobs at the same time.
“We still have a few hurdles to jump in terms of funding but we are looking at several options and we will be wanting to get this project started as soon as possible and I am sure that residents in Calverton will welcome this investment into their town.”
Green light granted for affordable housing development in Mansfield
Urban Developments (York) Ltd has secured Reserved Matters planning permission for 40 affordable homes in the village of Church Warsop in Mansfield.
The 3.1 acre site is predominantly tree lined and new landscaping is also proposed. A new access will be provided from Wood Lane, with the public footpaths on the eastern edge retained. Providing traditional family homes, designed in line with the Building for Life principles, the scheme is thought to “improve the visual amenity of this scrub land site.”
Nick Gould, Managing Director at Urban Developments (York) Ltd, said: “This will be a distinctive, high quality development providing a variety of affordable homes to meet the needs of the area.
“Well located, within easy reach of Warsop town centre and a good public transport network, it will benefit the local economy. We will also deliver local training and apprenticeship opportunities during construction.”
Designed by Den Architecture, Urban Group will deliver the development with local sub-contractors, on behalf of a regional registered housing provider.
The development includes additional sustainability measures for the homes, including air source heat pumps, meaning gas-free homes, and electric vehicle car charging points.
Frame Fast opens new Derby aluminium site
Derby-based Frame Fast, a window, door, roof, and glass fabricator, is investing in the East Midlands and continuing its growth with the launch of a new 10,000 sq ft aluminium site.
The new aluminium site in Derby will serve as a hub for Frame Fast’s production, distribution, and innovation of aluminium windows and doors. The state-of-the-art facility is equipped with cutting-edge technology, enabling the company to meet growing demand.
“For over 25 years, Frame Fast has been tuned in to understanding and innovating for our customers, bringing them everything under two roofs as well as a dedicated aluminium showroom to use as their own,” says Nigel Leivers, Managing Director at Frame Fast.
“We want our trade partners to know that we’re here to support them on everything, from fantastic trade discounts to the use of our showroom. Really getting stuck into showing customers exactly what they’re getting from our products and their knowledge.
“We’re looking forward to seeing what this will bring to the local area, creating jobs and helping to strengthen Derby’s already powerful base of manufacturers, stimulating trade, and hopefully attracting even more investment from big companies into the area.
“This city has always been kind to us in our nearly three-decade time here and we really want to give back. Alongside job creation, we really want to get stuck into the local community, sponsoring events and offering apprenticeships to young workers looking to join the industry. As well as looking to help keep our facilities sustainable and working towards the future of business in the East Midlands.”
Innovate UK fuels business matchmaking with funds for the hookup
The hookup, an online dating platform for small and micro businesses, has secured funding from Innovate UK.
This strategic partnership with Innovate UK, the government innovation agency, will empower the hookup to revolutionize the way small and micro businesses connect, collaborate, and expand their networks.
Designed by two local Derby businesses, think3 and Ask the Chameleon – the force behind the Swap Shop business platform during the pandemic – the hookup is based on the simple principle of connecting like-minded small and micro businesses together to collaborate.
A dynamic online hub, the hookup will offer a mobile platform for entrepreneurs to initially meet online with those that share similar aspirations, establish valuable partnerships, and unlock new opportunities. By encouraging meaningful connections, the hookup tackles barriers to collaboration, enabling small and micro businesses to scale their operations with confidence.
In recognition of its innovative approach to business networking, the hookup has been selected as a recipient of the prestigious Innovate UK funding – one of only 14 in the East Midlands totalling £400,000 of investment and one of only 4 businesses in Derbyshire to secure the highly competitive award.
The fund supports pioneering ventures driving technological advancements and economic development. This award signifies a significant milestone for the startup venture and reaffirms its commitment to spearheading digital transformation in the small and micro business landscape.
The investment from Innovate UK will fuel the hookup’s ongoing development and expansion, allowing the online platform to enhance its user experience, introduce cutting-edge matchmaking algorithms, and leverage advanced data analytics. With these advancements, the hookup will provide its members with personalized recommendations, facilitate tailored introductions, and deliver actionable insights to foster mutually beneficial business relationships.
Founding partner and owner of think3, Lee Marples said: “Our partnership with Innovate UK marks a pivotal moment for the hookup and the small business community as a whole, demonstrating their confidence is us to create a vibrant place for businesses to find their perfect match, unlocking endless possibilities for growth.”
Joint founder and owner of Ask the Chameleon, Rachel Hayward said: “We are delighted to receive this funding, which will help us to accelerate our goal to change the way small and micro businesses connect, collaborate, and thrive. Business is tough, and we aim to give our members the knowledge, tools and meaningful connections necessary to grow their businesses.”
Rachel added: “Based on our experience of running the Swap Shop during the pandemic, we know through this new platform, small businesses can find partners, suppliers, investors, and collaborators, fuelling our futures.”
Shepshed residential development sold
National property business Godwin Developments has completed the sale of its residential development of up to 50 family homes in Shepshed, Leicestershire, to social enterprise Places for People.
The scheme, which benefits from an outline planning permission secured by Godwin last year, is situated at a gateway location along the main arterial route into Shepshed.
When fully built, residents will have easy access to a range of amenities, including primary and secondary schools, shops, recreational facilities, a wide range of other services, and local employment. The site of the residential development also lies just over half a mile from junction 23 of the M1 motorway and is approximately three miles from Loughborough, the principal settlement in the Borough of Charnwood.
Places for People intend to deliver the scheme of two-, three- and four-bedroom properties through thoughtful design and to high energy efficiency standards. The enterprise has a long-term growth programme that aims to deliver over 18,000 homes in the next five years across the UK.
It is expected that the properties will be available sometime in 2024, both as affordable rent as well as with options to purchase through the Government-backed Shared Ownership scheme.
Commenting on the completion of the transaction, Godwin Development’s founder and board director Stuart Pratt said: “We are really thrilled that Places for People will now be the custodian of this scheme, taking it forward through to the delivery and operation of new affordable and environmentally efficient homes for local people.
“Godwin has deep expertise in identifying the right sites and getting them through planning and Shepshed is a great example of this skill in action. The transaction will enable us to focus our efforts on other development projects across the country where we continue to seek residential, commercial, and industrial opportunities that match our strategy.”
Stirling Prize winning architects selected for Peak District resort
International architects, Stanton Williams have been appointed to design The Gateway at PEAK, consented on 300 acres of reclaimed land located on the eastern boundary of the Peak District National Park, near Chesterfield.
The Gateway is intended to play an important role in cementing Chesterfield as a destination town as part of the Peak District experience and providing visitors and the local community with low impact ways to explore the National Park thanks to a zero-carbon travel hub.
Alongside Stanton Williams, a multi-skilled project team has been assembled, led by Milligan, a specialist destination and mixed-use real estate developer, who are working closely with regional strategic partners, including Chesterfield Borough Council, The University of Derby and the Peak District National Park Authority.
Peak Gateway Properties has briefed the team to define and design the Gateway build and operations around the principles of a ‘regenerative enterprise’, promoting the restoration and regeneration of natural resources and social systems.
The founders of Birchall Properties, the landowner, have already invested over 35 years in nature recovery and passive rewilding on the 300-acre Birchall Estate which had been the subject of extensive open-cast activities. By way of the Environment Act 2021 any development on the property must achieve a biodiversity Net Gain of at least 10% on its pre-development status.
The Gateway at PEAK will be an international standard tourist destination providing a basecamp and a gateway into the 550 square mile Peak District National Park.
Like a ski resort the PEAK Resort will be built around a carless mobility service, not in this case to mountains and skiing, but into the Peaks for biking and hiking, for nature, heritage, sport and culture. The commercial village will comprise of experiential retail, locally sourced dining and unique spaces for events, artisan craft and learning experiences.
John Milligan, CEO of Peak Gateway Properties and chairman of Milligan, said: “It used to be that an iconic building was one that stood out from its surroundings. The Gateway will be iconic, but we’re setting a new standard for what that means. Here buildings will integrate with their surroundings and work to enhance biodiversity beyond what will be mandated.
“We want to attract a discerning visitor, who cares about the protection of the UK’s original National Park and wants to enjoy the wellbeing benefits that nature and being in the outdoors, for either leisure or sport, can provide. A wide range of experiential retail brands with a unique proposition centred on nature and the outdoors will help create the destination.
“The travel hub is central to the Gateway’s proposition, allowing visitors to transition into electric or hydrogen vehicles for onward exploration of the Park, its stunning landscapes and thousands of activities and attractions. This is a way to expand access to the park and support more destinations in a low impact way.
“Currently 85% of visitors travel into the Park by car which is not sustainable. Last year we ran the first trial for the travel hub alongside Toyota and other local partners. The technology operated on a 40% regenerative energy basis which is fantastic.
“The trial stakeholders and users endorsed the urgent requirement for this sort of service – when it’s up and running we hope it will be an exemplar for other hubs around the Park and for other National Parks in the UK to follow.”
Gavin Henderson, Principal Director at Stanton Williams, said: “We are delighted to be working with PEAK Gateway Properties to realise their ambitious vision for this exceptional site. The Gateway will be a unique destination designed as a cohesive group of buildings integrated into the landscape.
“The scheme embraces the principles of the circular economy and uses highly sustainable, durable materials including local stone and timber. As well as regenerating a former open-cast mine, it supports natural ecosystems through habitat protection and enhancement, while connecting people with nature and encouraging active and low-carbon travel to and within the Peak District.”
Rupert Carr, a founder shareholder in Birchall Properties, the landowner, and a director of PEAK Gateway Properties, said: “The planning consents for PEAK Gateway Resort were implemented and safeguarded in 2016. We are very pleased to be moving forward again after surviving the challenges of Brexit and COVID.
“The realisation of Gateway fulfils our long-held ambition to showcase regenerative enterprise through land reclamation, a low carbon build and significant local employment creation.
“It is particularly pleasing to be a first mover in respect of offering tourists a zero carbon, carless mobility service to the attractions and landscapes of the UK’s first national park and to the medieval market town of Chesterfield.”
The Gateway’s zero carbon mobility service and its related infrastructure are critical to the delivery of this £300m investment programme into the visitor economy. The intention is to emulate the success of an international ski resort by providing hospitality and mobility from the outside of a national park. The Gateway, phase one of the PEAK Gateway Resort, represents a £150m capital investment and over 1,000 jobs, secured through a ‘green economy’ skills academy.
Section 73 and Reserved Matters Applications relating to the consented planning approvals will be submitted to Chesterfield Borough Council early Autumn.
