Revenue and profits decline at Ibstock

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Revenue and profits decline at Ibstock

Ibstock has seen a decline in revenue and profits during the first half of its new financial year, with the manufacturer of building products noting that sales volumes were “down significantly.”

According to results for the six months ended 30 June 2023, revenue decreased 14% to £223 million, in comparison to £259 million in the same period of 2022. The company said this reflected reduced activity levels in its residential markets.

Profit before tax of £30 million, meanwhile, dipped from £51 million in 2022, reflecting an exceptional cost of around £11 million arising from potential clay site closures.

Joe Hudson, Chief Executive Officer, said: “Our first half performance demonstrates our resilience in a subdued market environment, with lower customer demand across both new build and RMI segments. Our focus on customer service and commercial execution, coupled with disciplined management of capacity and costs, has enabled us to deliver a result marginally ahead of our expectations, despite more challenging trading conditions.

“We have continued to make strong progress with our strategic investment plans that will underpin Ibstock’s future growth and enhance our industry leadership position. By focusing on expansion, diversification and innovation we are building new capabilities in faster and sustainability-led growth segments of the UK construction market. 

“Although overall sales volumes were down significantly in the first half, demand showed improvement across the period. Whilst recent macroeconomic developments have created increased uncertainty in the outlook, having performed marginally ahead of our expectations during the first half we remain confident in our ability to respond to market conditions in the balance of the year and the Board’s expectations for the full year are unchanged.“

Celebrate the achievements of the region’s property and construction industry at the East Midlands Bricks Awards 2023

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Celebrate the achievements of the region’s property and construction industry at the East Midlands Bricks Awards 2023
Providing a key opportunity to showcase and celebrate your business’s achievements, enter the East Midlands Bricks Awards 2023 NOW – ahead of nominations closing on Thursday 31 August. The prestigious event, organised by East Midlands Business Link Magazine, is an independent awards and publicity programme recognising development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. The annual awards attract leaders from throughout the East Midlands and are the perfect way for businesses to promote themselves and those they work with. Indeed winning one of these awards will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly. Award categories include: 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, and overall winner. Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of time to forge new contacts with property and construction professionals from across the region.

After winning the most active agent award at last year’s event, Amy Bidell, director at Mather Jamie, said: “Apparently this category had so many entries that whittling it down to the three finalists was really hard to do, but we were told that we were chosen as the outright winner because of the our impressive track record of supporting clients to maximise the value of their property assets for the longest timeframe.

“Judges were also impressed by our commitment to the community, particularly our fundraising efforts during our 30th anniversary year when over £55,000 was raised for local charities.”

She added: “It would not be right to accept this award without giving credit to everyone in our commercial, development and agricultural teams who have worked so hard to make this award win possible by providing a high level of strategic land development advice as well as rural and commercial agency and property management services.”

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:
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:

Peak District National Park Authority approves restructure proposals

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Peak District National Park Authority approves restructure proposals
A series of organisational restructure proposals aimed at ensuring the Peak District National Park Authority can be financially resilient in the face of continued real terms cuts to its central government grant have been approved by Members of the Authority. Previously put to Members at the end of April, the proposals had formerly included an option for the potential closure of national park visitor centres – an aspect of the plans which has now been set-aside following an offer of support to the Peak District National Park Foundation from a philanthropic donor. In light of this unexpected donor support, redundancies from the recently approved proposals are now expected to be just 10% of those originally under consideration earlier in the year, affecting just six or seven posts. Other aspects of the plans which have received the go-ahead include a reduction of more than 50% in the most senior ‘head of service’ roles to just four posts, and a boost in capacity of around a quarter to the Authority’s planning service. A consultation process with Unison and the Authority’s own internal staff representation body will now also take place on a proposed ‘pay strategy’, which seeks to re-balance posts across the organisation where many salaries are currently below the regional public sector median. The Authority believes this is crucial to recruit and retain staff in several key areas of work; and is considered to be behind recent challenges in filling posts in skilled and technical services such as planning and enforcement. Further changes include bringing some smaller departments under new or alternative service heads, the streamlining of administrative services through improved technology and potential outsourcing for some specialist areas of work. Investment in enhancing the National Park’s online and digital offer has also been earmarked, following a boost in new audiences as a result of the pandemic. The proposals are expected to be implemented through cost reductions to the organisation and via a one-off Defra grant of £440,000 made available earlier this year, along with the Authority’s savings in reserve. The Authority also confirmed that all responses received during the consultation period have been made available to both staff and Members. Chief Executive of the Peak District National Park Authority, Phil Mulligan, said: “Few Chief Executives step into a role wanting to oversee changes where individuals or services are directly affected by a restructure process, but the stark reality of the 40% real-terms cut in our core grant over the last ten years means these have been necessary proposals. “I would again like to express my sincere thanks to the donor who has kindly stepped forward to offer around three years of support to enable our visitor centres to continue operating, which has significantly reduced the level of previous potential redundancies by around 90%. Of course, we may still be losing a small number of colleagues and will provide the utmost care and support to those affected.” Newly appointed chair of the Authority Ken Smith added: “Although, to some, it may appear that our higher grade roles are most positively impacted by the pay strategy proposals, the reality is that our lower paid positions are already meeting or exceeding the thresholds of where we want to be, according to the independent pay analysis we have commissioned. “By tackling these difficult issues now, I’m confident that we’ll create a National Park Authority that is resilient, responsive and enabling – for the benefit of those we serve locally and in our unrivalled offer to the wider nation and beyond.” The Authority confirmed that the donation offer received in support of visitor centres via the Peak District National Park Foundation will be subject to a number of due diligence and legal processes and is expected to be formally approved in the coming weeks.

Ashfield business grant schemes launch

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Ashfield business grant schemes launch
Ashfield District Council is launching two new grant schemes to support local businesses. The two schemes, the Enterprise development grant and the Hucknall High Street shop front improvement grant, are now open for applications. The schemes are one of the initiatives to support local businesses being financed by the Council’s £3.2 million UK Shared Prosperity Fund, which was secured from the government in December 2022. The Enterprise development grant is aimed at new and existing businesses, in the District’s town centres and shopping centres, that have a viable plan to grow their business that will lead to the creation of new jobs. Businesses that are eligible can apply for grants of up to £6,000. The Hucknall High Street shop front improvement grant is specifically for small businesses located on the southern end of the High Street (between the junctions of Watnall Road and Station Street/Duke Street). This scheme will enhance the character, value, and appeal of the businesses whilst improving the appearance of that end of Hucknall High Street. Grants for eligible properties will pay for up to 80% of the project cost (up to maximum grant payment of £9,600). Applications will close on 31 October 2024. Cllr Matthew Relf, Executive Lead for Regeneration and Planning, said: “We are so excited to be able to launch these two new schemes to support our local businesses in Ashfield. We want to help our town centres become buzzing again and to allow local business to flourish. “Hucknall is filled with unique and independent businesses and this grant will allow them to transform their premises to properly reflect the heart of their businesses. These are just one of the many initiatives and projects that we will be launching soon from the UK Shared Prosperity Fund.” Cllr Lee Waters, Ward Councillor for Hucknall Central, said: “We have fought for money to be available to improve Hucknall’s High Street. These grants will ensure that the thriving town centre continues to grow. Whilst we are incredibly ambitious for Hucknall’s town centre, it’s critical we support as many of the traders as possible now.”

Historic mill site destroyed by fire to be sold

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Historic mill site destroyed by fire to be sold
heb, acting on behalf of private clients, have been instructed to find a buyer for the former Hermitage Mill site at Hermitage Lane, Mansfield. The historic Grade II Listed Hermitage Mill building was tragically destroyed by fire last year, at which time a consent had been granted for its conversion and refurbishment into a 70 bed care home along with 31 new homes within the curtilage. Following the near total destruction of the former water mill building, Historic England have removed the site’s Listed status and it is now available to purchase in its entirety and suitable for a wide variety of development styles. The whole site extends to almost 5 acres including a section of the River Maun with weir and a large fishing lake / nature reserve to the rear. Robert Maxey of sole selling agents heb Chartered Surveyors said: “The phrase ‘unique opportunity’ is perhaps over-used in the property market, however in this instance it is absolutely applicable. “The site offers potential for a purchaser to design and construct a unique and bespoke lake-side development. Although located within the built-up Mansfield area, the large site is surrounded by tall mature trees which in conjunction with the lake nature reserve to the rear, provides a very secluded and peaceful setting. “We believe it remains ideally suited to bespoke residential development, possibly with a new care facility replacing the previously consented scheme. We are really excited to play a part in a regeneration of this super opportunity, which has been vacant for too long and has potential to become a real Mansfield landmark once again.”

Sentiment stable and output falls while SME manufacturers’ investment plans scaled back

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Sentiment stable and output falls while SME manufacturers’ investment plans scaled back
Sentiment among SME manufacturers was stable for a second successive quarter in July, though this represents a relative improvement compared with the sharp declines seen 2022 and in early 2023, according to the CBI’s latest SME Trends survey. Output declined for a fourth successive quarter in the three months to July. Total new orders also fell moderately, though the volume of total orders books was stable at a level deemed “below normal.” Both output and new orders are expected to grow moderately in the three months to October. Supply-side constraints to output continue to diminish, though the share of firms citing labour shortages as a limit on output over the next three months remained historically high, as did the share citing the availability of materials or components. A rising share of SMEs (almost two-thirds) cited orders or sales as a constraint on output. SMEs have scaled back investment plans. Capital expenditure on buildings and on plant & machinery is expected to fall in the year ahead, with rising shares citing the availability of internal finance and the cost of finance as factors likely to limit capex. Spending on product and process innovation is also expected to decline, while training expenditure will be held steady. Ben Jones, CBI lead economist, said: “Sentiment among SME manufacturers remains subdued, with output and new orders falling over the last quarter. Worryingly, investment intentions for the year ahead have weakened across the board in the face of uncertain demand, persistent labour shortages and, increasingly, higher finance costs as interest rates rise. “In a challenging environment for manufacturing investment, confidence-building measures have a big role to play, whether that’s scaling up Made Smarter into a national programme or providing clearer signals of intent over the UK’s response to the US Inflation Reduction Act and the EU’s Green Industrial Plan.”

Nottingham financial adviser snaps up counterpart

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Nottingham financial adviser snaps up counterpart

Nottingham-based George Square Financial Management has acquired independent financial advice firm Taylor McGill in the latest stage of the firm’s corporate expansion plans.

The deal will see George Square, which provides independent financial planning solutions and mortgage advice across the East Midlands, grow its client base significantly and add an independent financial adviser to its team.

Also based in Nottingham, Taylor McGill is recognised for offering bespoke financial planning services for its clients. The firm has built up a sizable portfolio of 250 private clients since it was founded in 1991 by the company’s directors, Simon Taylor and Gerry McGill.

Simon’s son, Daniel Taylor, also joined the team in 2008 in an administration capacity, before becoming a financial planner for the firm on completion of his qualifications in 2013.

As part of the acquisition, George Square will acquire all of Taylor McGill’s client base, which will now be able to access additional financial services provided by George Square, including specialist lending and independent mortgage advice.

Daniel will also join the George Square team as an independent financial adviser, bringing with him 10 years’ worth of expertise in supporting clients who have inherited wealth and are looking for financial guidance, as well as in providing retirement and later life planning advice.

George Goward, Managing Director of George Square, says: “This acquisition marks a significant step in George Square’s three-to-five year corporate expansion plans that we set out at the start of 2023.

“I have enjoyed a longstanding relationship with Simon and Gerry for many years now, and know too well how tirelessly they have worked over the last three decades to establish and maintain Taylor McGill’s fine reputation.

“Taylor McGill clients can rest assured that they will continue to receive this top level of service from George Square, whilst also benefitting from the additional services we offer, such as independent mortgage advice.

“We are also delighted to welcome Daniel to the George Square team. His extensive knowledge and expertise will help add value to our personal financial planning service offering.”

Gerry McGill, director of Taylor McGill, says: “George Square’s values align perfectly with the approach we have always taken at Taylor McGill over the years. Considered planning, sound investment management and the strong ethos of partnership lie at the heart of what the team at George Square does, and I am confident that our clients are in safe hands as we begin this next chapter.”

Simon Taylor, director of Taylor McGill, adds: “Gerry and I founded our company 33 years ago, and we are extremely proud of what we have achieved over the years through offering a value for money service that, in turn, has added value for the people we have worked with.

“This acquisition marks an exciting step for the firm and for our clients, who will be able to benefit from the range of services that George Square offers, including specialist lending and independent mortgage advice.”

Great British Railways visit Derby for first Board meeting in the city

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Great British Railways visit Derby for first Board meeting in the city
The Transition Team working to design Great British Railways held its board meeting in GBR’s new home city for the first time on Wednesday 26 July, cementing their commitment to Derby and the new headquarters. The board and officers from GBRTT were welcomed to the city by representatives from Derby City Council, including the Leader of the Council, Cllr Baggy Shanker, and Deputy Chief Executive Rachel North, at the historic Derby Roundhouse, Derby College. The visit provided an opportunity for representatives from both parties to discuss progress and celebrate the potential that the move to Derby will bring. The city was selected to be the location of the new Great British Railways headquarters in March this year, beating off fierce competition from the other shortlisted finalists Birmingham, Crewe, Doncaster, Newcastle and York. Derby was shortlisted from 42 expressions of interest from towns and cities across the nation, all keen to be the home of the new ‘guiding mind’ for the railways. Councillor Baggy Shanker, Leader of Derby City Council, said: “It was a pleasure to welcome the board of Great British Railways to Derby for their first meeting in the city. “The Roundhouse was the perfect setting to showcase the city’s unmatched rail heritage once again, as well as its commitment to a bright future of skills, learning and innovation. “I was delighted to be able to share in positive conversations with the board about the future of GBR here in Derby. The atmosphere in the room was buzzing and ideas invigorating.” Anit Chandarana, Lead Director of GBRTT, said: “We’re grateful to Derby City Council for being such gracious hosts to our Board, as we work to create a simpler, better railway for everyone in Britain. Every trip up to Derby is an opportunity to get better acquainted with this fantastic city, which will be home to GBR’s headquarters.”

Former care home up for sale after falling into administration

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Former care home up for sale after falling into administration
Specialist business property adviser, Christie & Co, has been instructed to sell the Grade II listed former residential care home, Egerton Lodge, in Melton Mowbray, Leicestershire. Originally built in 1829 for the Earl of Wilton and used as a base for hunting and socialising, Egerton Lodge was turned into a residential care home in 1987, caring for residents across 44 en-suite bedrooms. In June 2023, the home went into administration and business operations were taken over by Leonard Curtis Business Solutions Group. This sale presents an opportunity for either existing care (C2) use or to redevelop for alternate use, subject to the necessary planning permissions. Rosie Turner, senior business agent – care at Christie & Co, who is handling the sale, says: “I’m pleased to be marketing this vacant home for the administrators at Leonard Curtis Business Solutions Group. “This impressive, well-located, 44-bedroom property presents a great opportunity for care operators looking to expand their portfolios, or for alternate healthcare use, subject to the necessary planning.” Egerton Lodge is on the market with an asking price of £1.55 million.

Revenue and profit dip at Travis Perkins

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Revenue and profit dip at Travis Perkins
Revenue and profit have dipped at Travis Perkins, the builders merchant, according to half year results for the six months ended 30 June 2023. Revenue of £2.47bn was down 2.5% compared to the same period of 2022, while adjusted operating profit of £112m was down 31%. The company said this reflects weak market volumes in private domestic RMI and new build housing. Full year adjusted operating profit is expected to be around £240m. Nick Roberts, Chief Executive Officer, said: “Market conditions have been challenging, which is reflected in both our first half performance and our outlook for the balance of the year. The Group remains focused on striking the appropriate balance between seeking to protect shorter term profitability, delivering our strategic objectives and being well placed to benefit when market conditions improve. “Given the market backdrop, we are relentlessly focused on meeting our customers’ needs in core categories and supporting our local branch managers to grow share of wallet, particularly with general builder and professional trade customers, by making it simpler and easier to transact with us through our digital channels and in our branches. “I am pleased with the continued progress we are making on the development of value-added services, as shown in the growth of Managed Services and Hire, and also with the market share gains coming through in Toolstation. “Whilst near-term trading is expected to remain difficult, we continue to work to position the Group to benefit from the long term structural drivers in our end markets. “The opportunities presented by the requirement to decarbonise the UK’s built environment and address the shortage of both private and social housing remain significant and our unique portfolio of businesses, coupled with the development of innovative solutions for our customers, will enable the Group to deliver long term growth and create value for shareholders.”

Revenues soar at Journeo

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Revenues soar at Journeo
Journeo plc, a provider of information systems and technical services to transport operators and local authorities, has seen revenues soar in its first half. According to a trading update for the six months ended 30 June 2023, group revenues increased by 145% to £21.8m, up from £8.9m in the first half of 2022, with the acquisition Infotec, in January 2023, delivering revenue of £9.3m in the period. Profit before tax at the Ashby-de-la-Zouch firm, meanwhile, increased to £1.7m. Revenue for the full year is now expected to be £41m, significantly ahead of current market expectations, with profit expected to be marginally ahead. Russ Singleton, Chief Executive of Journeo plc, said: “The first half of this year has seen the Group enter a transformational stage in its development following the acquisition of Infotec in January and generate strong organic and acquisitive growth. “Revenues increased 145% to £21.8m, delivering a pre-tax profit of £1.7m. We entered H2 2023 with a £27m order book, a £55m sales opportunity pipeline and expect revenue for the full year to be £41m, with profit marginally ahead of current market expectations. “The integration is going well with finance, HR, new product design and marketing working together and a number of cross selling initiatives underway to broaden the customer base, increase sales, annual recurring revenues and margins.”

Pre-tax losses widen at Staffline

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Pre-tax losses widen at Staffline
The CEO of Staffline has praised a resilient first half performance amidst a challenging market environment for the recruitment industry, despite a dip in revenue and losses widening. According to the recruitment and training group’s unaudited interim results for the six months ended 30 June 2023, revenue slipped slightly to £434.1m compared to £438m in the same period of 2022. Meanwhile the Nottingham-based company posted a loss before tax of £4.3m, widening from £1m last year. Staffline expects a significant improvement in the second half of the year, in line with a traditional second-half weighting of the group’s Recruitment division, and notes that full year trading remains in line with market expectations.

Albert Ellis, Chief Executive Officer of Staffline, said: “The business has delivered a resilient first half performance amidst a challenging market environment for the recruitment industry.

“Our management team has demonstrated exceptional leadership by securing new business wins, implementing significant structural and cost changes across all businesses, and strengthening customer relationships with a focus on service delivery.

“These actions have underpinned the Board’s confidence in full year trading being in line with expectations, alongside implementing a £4m share buyback programme.

“We anticipate better trading conditions in the second half of the year with improved consumer confidence stimulating growth.

“Whilst the outlook for permanent recruitment is more subdued, a number of new temporary staffing contract opportunities are currently in the pipeline, in addition to the seasonal boost expected in the final half of the year including the Women’s Football and Men’s Rugby World Cups. 

“There is no question, the broader economic environment in the UK and Ireland will continue to dominate headlines.

“However, with the increasing return to work of many classified as economically inactive in the most recent ONS labour market report, we are cautiously optimistic that the tight labour market is starting to ease and this will support the economy going forward.”

Over 220 jobs saved as engineering firm acquired out of administration

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Over 220 jobs saved as engineering firm acquired out of administration

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 Ltd out of administration, in a move that will secure the jobs of over 220 current employees.

The deal will be funded from Endless’s Enact Fund III which seeks to invest in transformational SME opportunities.

Accrofab and Bromford Industries, which precision engineer fabricated components for the aerospace and power generation sectors, operate out of sites in Derby and Alcester. Both Accrofab and Bromford Alcester retain a global, blue-chip client base. Following completion of the deal, both companies will trade under the Accrofab brand.

Endless are supporting the current management team, led by CEO Ed Ashworth, to separate the businesses from the Bromford Group and invest in its operations to enable growth with both existing and new customers.

Richard Harrison, Enact partner in the Manchester office, said: “Accrofab and Bromford Alcester are both profitable businesses which were brought down by a separate loss-making site in the Bromford Group. The Accrofab Group is perfectly positioned to benefit from the growth in its core aerospace and power generation markets and we will invest in both sites to broaden their operational capability and capacity.”

Ed Ashworth, CEO at Accrofab and Bromford Industries, adds: “The orderbook and pipeline is strong at both Derby and Alcester and our key customers have been incredibly supportive during this challenging time.

“Endless have a history of supporting companies with a similar story to ours and completion of this transaction is an exciting milestone for all of the employees of the new Accrofab Group.”

Ryan Grant, joint administrator and Managing Director at Interpath Advisory, said: “After trading the business for twenty weeks, we’re delighted to have secured this transaction which not only sees production continue uninterrupted at both sites in Alcester and Derby, but which importantly safeguards the jobs of 220 members of staff.

“On behalf of the Interpath team, I’d like to extend our profound thanks to customers, suppliers and Bromford’s dedicated team of employees who have all provided unwavering support throughout the administration process. Their efforts, along with the commitment from Endless, has enabled us to find a solution for the business which puts in place a solid financial platform upon which it can move forward.”

Cynergy Business Finance are providing a new asset based lending (ABL) facility to the Accrofab Group. Danny Monksfield, corporate sales director at Cynergy, added: “We’re delighted to support the acquisition of Alcester and Derby with an asset based lending facility that will assist in delivering the impressive pipeline of work at both sites.

“It has been a pleasure to work closely with Enact to tailor our lending facility to fit the group’s unique working capital requirements, and we look forward to being a part of the future growth of the group.”

The Enact team (Kiran Reddy, Alex Nicholls and Adam Milner) were advised by Shoosmiths LLP (Bethan Moore, Andria Stylianou), Claritas Tax and Vista Insurance Brokers.

Interpath were advised by Irwin Mitchell LLP (Amy Keogh and Stephen George).

Cynergy were advised by Bermans (Dave Gledhill) and SIA.

As part of the deal, Endless will not purchase Bromford Industries’ Leicester site.

Manufacturer expands in Kettering

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Manufacturer expands in Kettering
A manufacturer and dealership for mounted platform vehicles and equipment has let warehouse premises at Vernon Court, Telford Way in Kettering. The commercial property agency of Eddisons secured the letting to CPL Ltd. The detached, 6,403 sq ft, industrial unit at 6B Vernon Court is the latest site in Kettering for CPL, whose growing client base is chiefly in the utilities sector in the UK and also overseas. CPL Ltd was founded in 2011 and now, with the addition of the Vernon Court premises, has four sites on Telford Way. The company’s founder & CEO, Paul Murphy, confirms CPL is seeking further premises – a fifth operational location – to accommodate business expansion plans which include increasing its current headcount of 100-plus employees within the next twelve months. Speaking about the letting of 6B Vernon Court to CPL, Eddisons’ Gilbert Harvey, director of Kettering and Northampton, said: “With the squeeze on the availability of quality industrial stock in general – and in such a desirable location as Telford Way, in particular – we secured the unit under offer to CPL prior to the expiry of the previous lease and its vacation by the former occupier. “This ensured no void period for our landlord client and gave CPL the certainty of its new premises to an agreed timescale in its favoured location.”

Entries close at the end of August for the prestigious East Midlands Bricks Awards 2023!

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Entries close at the end of August for the prestigious East Midlands Bricks Awards 2023!
At the end of the month (Thursday 31 August) nominations will close for East Midlands Business Link’s prestigious Bricks Awards, shining a light on the region’s property and construction industry. The annual event recognises development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. With the economy now recovering after lockdown, and following a successful event held last year, we believe it is now more important than ever to celebrate the robustness of the property and construction industry in our region. Take this opportunity to showcase your team, reward their efforts, and boost morale. To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:

Nominations end Thursday 31 August.

The Overall Winner of the East Midlands Bricks Awards 2023 will also be awarded a year of marketing/publicity worth £20,000. Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction professionals from across the region. The event will also welcome Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, as keynote speaker. Find out who last year’s winners were here.

Book your tickets now

Tickets can now be booked for the awards event – 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 famous Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire.
Thanks to our sponsors:                                                             To be held at:

East Midlands business confidence marks drop

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East Midlands business confidence marks drop
Business confidence in the East Midlands fell 22 points during July to 30%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.   Companies in the region reported lower confidence in their own business prospects month-on-month, down 14 points at 37%. When taken alongside their optimism in the economy, down 27 points to 25%, this gives a headline confidence reading of 30%.  East Midlands businesses identified their top target areas for growth in the next six months as evolving their offer (38%), investing in their team (35%) and diversifying into new markets (34%). The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.  A net balance of 15% of businesses in the region expect to increase staff levels over the next year, down 24 points on last month.   Overall, UK business confidence dipped by six points to 31% in July, with nine out of 11 regions and nations reporting a lower confidence reading month-on-month.   Optimism in the economy has also fallen, dropping 11 points to 21%, the lowest levels since February this year. However, firms remained resilient in their own trading prospects, with 43% of companies expecting business activity to increase over the next 12 months, up one point on last month and reaching a 14-month high.  Despite the fall in overall confidence, levels remain higher than the survey’s long-term average reading of 28% and every UK region and nation reported a positive confidence reading in July. The North East reported the highest levels of business confidence at 43% (down four points on last month), followed by Yorkshire (down seven points month-on-month) and the West Midlands (up two points month-on-month) both at 38%. Retail was the only broad sector registering higher confidence (up six points to 35%), mostly reflecting stronger transport services. The fall in overall business confidence this month was led by the service sector sentiment falling by seven points to 30%. While the fall in confidence was seen broadly across this sector, hospitality firms appeared to be more resilient. Confidence also was lower in manufacturing (down 16 points to 34%) and construction (down eight points to 31%). Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Despite the dip in overall business confidence, firms in the East Midlands have a high level of optimism in their own business prospects, something that will help buoy them as they focus on their plans for the year ahead. “I know from speaking to businesses across the region that many see opportunities in growing and developing their team, but inflation is affecting their ability to invest in developing skills. Financial tools such as invoice discounting and term loans can help businesses to manage their cash flow, enabling them to free up capital to invest in the training or making the new hires they need to grow their business.” Hann-Ju Ho, senior economist, Lloyds Bank Commercial Banking, said: “The Barometer presents a complex picture for firms this month, with the data showing that trading prospects remain strong with businesses feeling under less pressure by inflation to raise prices. “However, there is clearly uncertainty about the wider economy and rising interest rates. This may be causing net hiring intentions to moderate slightly. Nevertheless, wages and jobs growth continue to support staff with the current cost of living. “However, the sectoral analysis this month shows some positive signs for the retail sector, while there are indications that pent-up demand may be boosting confidence in tourism and travel. As businesses continue to adapt to the economic environment, we expect to see ongoing resilience broadly across all sectors.”

Nottingham recruitment and training group launches share buyback

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Nottingham recruitment and training group launches share buyback
Staffline Group, the Nottingham-based recruitment and training group, is set to launch a share buyback programme. The company said it intends “to make a series of share repurchases with a view to returning up to £4 million to shareholders.” It added: “The Group remains disciplined in its allocation of capital with the main objective being to enhance shareholder value. We continuously assess our medium-term plans which take account of growth prospects, investment in the Republic of Ireland branch network, cash generation, net borrowings, and leverage. Therefore, the amount allocated to buybacks is based on our predicted trading cash flows and financing headroom.” Following the announcement of its 2023 interim results, Staffline believes the current time presents a good opportunity to make share purchases. The company has delivered two years of underlying operating profits of at least £10m and net debt (pre IFRS16) has reduced to £3.5 million at 30 June 2023 (30 June 2022: £9.7 million) through retained earnings and improvements in working capital. In addition, average borrowings are on a downward trend. Consequently, the company has substantial headroom under its available debt facilities. Accordingly, the company is launching the share buyback, to repurchase ordinary shares in the capital of the company up to an aggregate value of £4 million. In further news for the business, GXO Logistics has awarded Staffline’s Recruitment GB division the dedicated temporary labour supply to a further 14 distribution centres across the UK for several major High Street brands. This award grows the Staffline share of GXO labour supply business in the UK by an additional 40%. The award will result in the generation of significant revenue growth to the business. In addition, Recruitment GB has been awarded contract renewals with Marks and Spencer and AM Fresh Group. Albert Ellis, Chief Executive Officer of Staffline, said: “We are extremely pleased to announce these opportunities which are live and coming on stream in H2 2023. “We have grown our operational reach with these hugely important customers, not only fulfilling a key strategic objective for the Group, but further expanding our services with substantial and progressive employers of choice and is testament to our strong operational and strategic partnership approach to our valued customers.”

GT3 Architects forms international alliance with US design firm

Tess Egginton
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GT3 Architects forms international alliance with US design firm
Architecture practice GT3 Architects has teamed up with US-based global design firm Sasaki to create a strategic alliance that brings together the skills and global expertise of more than 400 design specialists. The powerful partnership aims to bring international perspective and experience to projects across multiple sectors – including sports and leisure, masterplanning, workplace design, landscape architecture, and more – combining expert sector knowledge and global capabilities. Applying a creative, people-focused approach to UK design, projects will be delivered from GT3’s offices in the UK, in Nottingham and Newcastle-upon-Tyne, and Sasaki’s locations in Boston, Denver, New York and Shanghai. Simon Dunstan, director at GT3 Architects, said: “This is a valuable alliance for both organisations that opens up numerous opportunities in the UK and the US. When we met with the Sasaki team, we were able to explore a number of potential projects and very quickly established a shared culture with lots of common values – the perfect bedrock for our alliance. “The pandemic has clearly demonstrated that remote working is no barrier to collaboration, a concept that is at the heart of our relationship. We’re really excited to be working closely with the Sasaki team to share knowledge, research, expertise and staff as well as utilise technology and best practice to suit the specific needs of all our clients and projects. “This announcement marks the culmination of extensive discussions and hard work behind the scenes and we’re looking forward to growing our presence in the UK and America – supporting our teams and clients along the journey.” The strategic alliance brings a forward-thinking, global approach to projects, with GT3 and Sasaki clients benefitting from a fresh perspective and innovative design ideas. The firms both champion a holistic approach to the design of place and space that positions people at the heart of every project. “Sasaki has an incredible 70-year legacy and global reputation, which gives new generations of leaders an amazing platform on which to grow our business,” said Sasaki CEO James Miner. “We continuously seek to balance our history with forward looking curiosity and innovation to remain relevant in today’s world. Our alliance with GT3 provides a great opportunity to bring new voices and expertise to clients in a way that we could not before. We’re excited to work alongside GT3 to grow our collective portfolio in the UK, and collaborate with them here in the US and beyond.”

Property investment company seals multimillion-pound hotel deal

Tess Egginton
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Property investment company seals multimillion-pound hotel deal

Law firm Moore Barlow has advised Cooper Estates Development on the multimillion-pound purchase of a hotel in Wellingborough, Northamptonshire as the property investment company looks to expand its hospitality portfolio.

As part of the deal Cooper Estates has also agreed a new lease for the site on the west side of Enstone Court with Travelodge. Taking over the lease from Ibis, the national hotel chain plans to reopen the venue ahead of the British leg of the Formula One grand prix in 2024, taking place at nearby Silverstone.  

The deal to buy the hotel from K/S Wellingborough was led by Luc Algar, partner and head of real estate at Moore Barlow. 

Commenting on the deal, Luc said: “Cooper Estates have a strong track record of acquiring sites and making them work. This is another excellent selection and the immediate interest from a national hotel brand shows the potential it has to deliver growth.

“The hotel and leisure industry is a vital cog in the UK’s economic machine and ensuring it is backed by a robust M&A market is essential. Companies like Cooper Estates play an important role in ensuring towns like Wellingborough, where tourism is essential to the local economy, continue to prosper.” 

David Gregory, investment director at Cooper Estates, said: “This had the potential to be a very complicated deal, with the end of one lease, the acquisition and the new lease with Travelodge all needing to happen in tandem. That it went so smoothly is testament to the team that worked on it, and means all parties are in the best possible position to move forward and ensure the hotel’s continued success.”

Senior appointment cements housebuilder’s East Midlands region

Tess Egginton
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Senior appointment cements housebuilder’s East Midlands region

A national housebuilder has appointed a new operations director to lead its growth in the East Midlands.

Miller Homes has appointed Tom Roberts to the role of regional operations director to head up the region from its Derby offices.

Tom brings a wealth of experience to the role, having initially joined Miller Homes in August 2004 as a graduate land buyer.

As one of 10 graduates selected for the national scheme, Tom benefited from exposure to every department, including sales and legal, helping him to develop his knowledge across all aspects of the business.

Following completion of the scheme, he was promoted to land buyer and most recently held the position of area land director in the East and South Midlands.

Tom said: “This region is already profitable and on target to achieve its objectives, so I will be looking to build on that success in my new role.

“We have built a great team in the East Midlands and our business reputation as an honest and trustworthy housebuilder has helped us win projects and land in the region.

“One of my initial aims is to increase my experience across the disciplines I’ve had less exposure to previously, such as production, finance and customer care.

“The structured support and continued investment that enables individuals like me to step up is fantastic and I’m looking forward to broadening my knowledge across all aspects of the business.”

Ben Massey, divisional managing director, said: “We are proud of our track record of developing and nurturing talent within Miller Homes, and to be able to recruit high calibre candidates from within our existing pool of staff.

“Tom’s career success demonstrates the value of the training and support that Miller Homes invests in, and our ongoing commitment to our team members.”

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