Heating technology giant to create hundreds of jobs with new Derby production site

Heating technology giant Vaillant has announced it is to open a production site in Derby creating hundreds of new jobs. The firm, which has its UK headquarters at Belper, has taken a 12,000 square metre unit at St. Modwen Park Derby, a brand-new industrial scheme being built by St. Modwen Logistics. Expected to open in 2024, the Derby site, which will create more than 200 jobs, will allow Vaillant to meet the increasing demand for heat pumps. Henrik Hansen, Managing Director at Vaillant Group UK, said: “This new, custom-built site at St. Modwen Park will play an instrumental role in delivering the low carbon heating solutions needed to deliver a net zero future, while also creating valuable new jobs within the local community.” Councillor Chris Poulter, leader of Derby City Council, said: “We’re thrilled that Vaillant has chosen to further invest in Derby. St. Modwen Park is an exciting development with the potential to bring huge investment and many jobs to the city.” John Forkin, Managing Director of Marketing Derby, said: “We have been working with the team at Vaillant, together with our partners at the city council and St. Modwen, during the past year to secure this landmark investment.” The investment at St. Modwen Park Derby follows hot on the heels of Vaillant opening a multi-million-pound heat pump production line at its Belper headquarters, making it the first UK manufacturer of both energy efficient boilers and heat pumps. The official opening of that production line, which took place in November, was performed by Mr Forkin, along with Pauline Latham, MP for Mid-Derbyshire. Reacting to Vaillant’s Derby investment, Mr Forkin said: “This is such an exciting time for the city and the continued investment from Vaillant into manufacturing sustainable heating systems will place Derby at the heart of the green jobs growth. “Vaillant is a modern, forward-looking manufacturer with years of experience in Belper and will bring so much learning to the area.” Ben Silcock, development and leasing manager at St. Modwen Logistics, said: “We are incredibly proud of our work at St. Modwen Park Derby, and we are really pleased to welcome a company as prestigious as Vaillant. “It is fitting that Vaillant have chosen this sustainable warehouse to manufacture products which help people to reduce energy consumption levels and lessen their environmental impact.”

Hinckley National Rail Freight Interchange application submitted to Planning Inspectorate

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Developers Tritax Symmetry have submitted their application for the Hinckley National Rail Freight Interchange (HNRFI) to the Planning Inspectorate. Blaby District Council now has 14 days to comment on whether it believes the developer’s consultation on the plans was adequate. The Planning Inspectorate will then have until 6 March to decide whether to accept the application. If the application is accepted, the Planning Inspectorate will begin assessing the developer’s plans. There will be a six-month-long examination phase, including hearings, towards the end of the year, and a decision is expected by the middle of next year. The scheme, earmarked for 440 acres of land between the M69 and the Leicester to Birmingham railway line, falls mainly within the boundary of Blaby District Council, south-west of Elmesthorpe village. The scheme is of such scale and national importance that the application for its development will be ultimately decided by the Secretary of State for Transport. Blaby District Council has no power to veto the project but is instead a statutory consultee in the process. The Council will be carefully scrutinising the developer’s proposals, commenting on the scale, scope and location of the scheme and how it will affect local residents and the District as a whole. Tritax Symmetry are already aware the Council has significant concerns about the impact the development will have on the District. Councillor Terry Richardson, leader of Blaby District Council, said: “This application has been a long time coming and the source of great concern for many residents in our District. Since it was mooted, the Council has worked tirelessly to engage with the developer and critique their plans, for example raising strong concerns during the consultation period last year. “There will be lots of information to review and comment on throughout this year. However, I can assure residents that the Council has dedicated significant resources to assessing these proposals and we will not shy away from making our views known in the strongest possible terms; starting with commenting on the adequacy of last year’s consultation process.” The scheme is part of the Government’s long-standing plan to divert container transport traffic off major roads and onto the rail network for the bulk of its journey after arriving at major sea ports. To provide for this the HNRFI will incorporate new rail sidings from the existing Leicester to Birmingham lines to accommodate up to 16 trains per day, of up to 775m in length which can link into warehousing and storage areas. The warehousing and ancillary buildings themselves are expected to total up to 850,000m2 and reach up to 28m in height. There will also be a lorry park, energy services area and associated landscaping with new access routes, a major new link road from the M69 to the B4668/A47 Leicester Road at Hinckley and southern facing slip roads at Junction 2 of the M69.

Property lender provides £38m loan to refinance acquisition of two Midlands retail schemes

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Specialist property lender Leumi UK has provided a £38 million loan to Magnetar Capital, a US-based alternative asset manager, to refinance the purchase of two town centre shopping schemes in Perry Barr, near Birmingham, and Corby, Northamptonshire. One Stop Shopping in Perry Barr is a 382,856 square feet shopping centre and retail park, while Corby Town Centre & Willow Place measures 667,121 square feet across the town centre shopping area, retail park, upcoming new sixth form college, office space and residential units. Both assets have a diverse mix of tenants, dominated by essential and convenience-led tenants and including major national occupiers such as M&S, Argos, Home Bargains, TK Maxx, Pure Gym, KFC, Nike and JD Sports. Magnetar is working with specialist operating partner Northdale Asset Management, whose principals have significant experience across all classes of real estate, including retail. Magnetar and Northdale previously partnered on the 2022 purchase of Yate Retail Shopping Center in Gloucestershire. Gez O’Sullivan, relationship director at Leumi UK, said: “It’s been great working with Magnetar again following our previous deal refinancing Yate Retail Shopping Centre in September 2022. Together with its operating partner, Northdale, Magnetar has been astute in selecting well-located retail centres with a robust tenant mix. “The retail sector is facing a distinct set of challenges, which requires lenders take some caution, but the value-led and essential nature of these centres’ established tenants in this instance will prove a powerful hedge against macroeconomic headwinds.” Aidan McKeown, portfolio manager at Magnetar, said: “Leumi UK has again demonstrated their customer-first approach and sectoral expertise throughout this transaction, and we’re excited to deepen our partnership with them on these two assets. “Both centres have an attractive range of well-performing and resilient tenants serving the wider community. We look forward to exploring opportunities to further strengthen that and add value to the centres over the medium term.”

2022 sees strong revenue increase for Journeo

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Revenue is up at Journeo, the Ashby-de-la-Zouch-based supplier of information systems, software and services to transport operators and local authorities.

According to a trading update for the year ended 31 December 2022, the business’s order intake increased by 50% to £27m, up from £18m in 2021, while revenue increased by 35% to £21.1m, up from £15.6m in the prior year.

Profit for the full year is anticipated to be in line with market expectations.

In January (2023), the company completed the acquisition of IGL Limited (including Infotec Limited) following the completion of a significantly over-subscribed placing and retail offer.

Russ Singleton, Chief Executive of Journeo plc, said: “I am very pleased with our achievements in 2022 where the group’s order intake, revenues and profits all increased strongly based on growing adoption of our own technology, software and IP.

“We have made good progress in our sustainability strategy, including reducing the environmental impact of our technologies such as introducing ultra-low power designs in our next generation display systems. We look forward to providing more detail in our 2022 Annual Report.

“Following the acquisition of Infotec, the enlarged group is in a stronger position with a healthy order book and a growing sales pipeline of future opportunities for 2023 and beyond based on Journeo IP.

“We continue to evaluate other acquisition opportunities and this potential, together with the on-going successful investment in research and development and organic growth, gives the Board confidence in being able to deliver increasing value to our shareholders.”

Revenue rises at Watches of Switzerland

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Leicester-based Watches of Switzerland Group has reported a strong third quarter with revenue on the rise. According to a trading update for the 13 weeks to 29 January 2023, revenue grew to £407 million, up from £348 million in the same period of the prior year. The company says this was driven by luxury watches, where demand continues to exceed supply. Brian Duffy, Chief Executive Officer, said: “I am pleased with our strong Q3 performance which is testament to our continued investment in leading showroom design, the strength of our brand partnerships, our scale, our dedication to omnichannel excellence, and our exceptional client service. “I would like to thank all my colleagues for their ongoing dedication and hard work especially during the Holiday period. Demand remains strong and continues to exceed supply, with client registration lists growing. We exited the quarter with good momentum and are pleased to reiterate our full year guidance. “Our expansion into Europe continued with the opening of our fifth mono-brand boutique, with OMEGA in Stockholm in the third quarter. Early trading remains positive, and we are excited to open our first mono-brand boutique in Dublin with TAG Heuer later this month. “Looking ahead, we remain confident that our strategy will further enhance our leadership position as we continue to deliver on our Long Range Plan objectives.”

Loughborough’s latest Town Deal funding boosts cash commitment still further

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Nearly £3 million is set to be invested in Loughborough town centre to make it more attractive and safer for visitors thanks to a Loughborough Town Deal grant, adding to funds already committed.

The Town Deal Board has confirmed £2.87 million to support the Living Loughborough project which will see more events held in the town centre, investment in the town markets, expansion of the CCTV system and digital heritage trails added. Charnwood Borough Council is leading the project and will be working in partnership with Love Loughborough which will deliver some aspects of the scheme. Loughborough Town Deal is supporting 11 projects after securing £16.9 million of Government funding. In total, the projects are worth more than £40 million of investment for the town. The Town Deal Board is co-chaired by Cllr Jonathan Morgan, Leader of Charnwood Borough Council, and Dr Nik Kotecha, founder of Morningside Pharmaceuticals Ltd. Cllr Morgan said: “This is an exciting project for Loughborough, and I am looking forward to seeing it develop. It has many different aspects that will bring numerous benefits for the people who visit, work, trade and live in the centre of our beautiful, historic market and university town. Dr Kotecha said: “The town centre is crucial to our local economy and that’s why the Town Deal Board were keen to support the Living Loughborough project. It will help make our town even more vibrant and attractive to visitors and in turn generate footfall for local businesses.” Cllr Jenny Bokor, the Council’s lead member for Loughborough said: “Shopping habits have changed, and high streets need to adapt and innovate to ensure they can draw people in to support businesses. That’s why we have created the Living Loughborough project in partnership with Love Loughborough. “We are creating innovative digital trails for people to explore and investing in our historic markets. We will also be making Queen’s Park even more attractive and connected to the town centre. “The Living Loughborough project is packed with great ideas and thanks to the Town Deal we can now turn them into reality.” Lez Cope Newman, Chair of Love Loughborough BID, said: “I am so excited by the Living Loughborough project as I think it will be transformational for the town centre. The digital trails and events will help bring life and atmosphere while Love Loughborough will also be offering more support to businesses to help them flourish. “We are also keen to make our town centre a safe and inviting place. CCTV will be expanded but we will also be working with partners, retailers and those involved in the night-time economy to make sure visitors feel safe and secure when in town.” The Living Loughborough project includes:
  • the introduction of new interactive digital trails to encourage people to explore the town centre and its heritage. The trails will feature augmented reality which means they will be able to ‘see into the past’ using a mobile phone app.
  • holding more events
  • digital signage to showcase local events and information
  • investment in Loughborough Markets including:
    • the creation of a ‘plaza’ area with seating, lighting, and planters. The space will give more flexibility to be able to hold different types of events
    • improvements to the infrastructure of the market to include cabins which can be used all year round and an extension of the electrical supply for market traders
    • addition of a covered area in Southfields Park to hold events
    • the expansion of CCTV cameras in four locations to improve public safety
    • the creation of a new post with Love Loughborough to support crime reduction in the town centre including the purchase of 100 new radios for traders as part of the retail radio scheme
    • more 1-2-1 support for businesses on topics including using digital technology and marketing
    • improvements to Queen’s Park including to the entrances from Granby Street and Granby Street car park, the addition of new information points, new lighting to the bandstand and improved lighting of the Carillon Tower.
    • the addition of a canopy over a paved area outside the café at Charnwood Museum with improved lighting and seating
    • the expansion of free public wi-fi in the town centre to include Ward’s End, Devonshire Square, Bedford Square and Queen’s Park
So far, Loughborough Town Deal has already invested nearly £2 million in Loughborough to create a Careers and Enterprise Hub and to support the regeneration of Bedford Square, Ward’s End and Devonshire Square. It has also committed:
  • £2.6 million to create a Digital Skills Hub at Loughborough College
  • £835,000 to help save Taylor’s Bell Foundry, the last major bell foundry in the UK
  • £885,000 to fund towpath improvements alongside the River Soar
  • £1.6 million to a creative arts hub at the Generator
  • £2.5 million to support the Health and Innovative Loughborough project
  • £280,000 towards the creation of a heritage locomotive works and education centre at Great Central Railway
  • £669,000 for the Lanes and Links project including the Hope Bell
With the confirmed funding for the Living Loughborough project, Loughborough Town Deal’s committed investment has now reached almost £15 million.

Innovative Derby company presented with Queen’s Award

A Derby-based social enterprise company, which is run by disabled people for disabled people, has been formally presented with The Queen’s Award for Enterprise by His Majesty’s Lord-Lieutenant of Derbyshire Mrs Elizabeth Fothergill CBE and Deputy Lord- Lieutenant Tony Walker CBE. Nimbus Disability, based in Pride Park, has been recognised in The Queen’s Award Innovation category for the development of their Access Card scheme. The Access Card is held by more than 100,000 people in the UK and beyond who register their accessibility requirements. Powered by ‘NOS’, Nimbus Disability’s bespoke software, The Access Card system translates its holder’s disability/impairment/access requirements into symbols highlighting the barriers they face. When booking tickets online, the Nimbus Operating System informs providers quickly and discreetly about the access requirements that individuals need without sharing further information about them with the venue. This has vastly improved access for disabled people who previously had to provide benefit entitlement letters or invasive amounts of personal information each time they booked tickets for festivals, cinemas, sports matches and more. The Access Card is already widely recognised at major venues across the UK and beyond including Buckingham Palace, Westminster Abbey, The London Eye, Disneyland Paris, The O2 Arena and Alton Towers. Notable overseas venues which have recognised and responded to cardholder needs include The Louvre in Paris, The Uffizi Gallery in Florence and Chicago’s Willis Tower. The company created the bespoke Access Card under the leadership of Martin Austin MBE who has been an amputee since his diagnosis of cancer as a teenager. He said: “As disabled people ourselves, our mission at Nimbus and with our Access Card scheme is to provide a universal, digitised way of communicating all verified access requirements, from eligibility to companion tickets to the necessity for wheelchair-accessible facilities. “Our system enables each access requirement flagged to be integrated directly into ticketing systems to remove the need to continually call ‘special’ booking lines’ and fill in ‘special’ booking forms or answer personal and invasive questions over the phone. “Ultimately our operating system lessens the administrative burden on disabled people at the same time as opening up equality of access to online ticketing solutions from West End theatres to theme parks.” Mr Austin continued: “It was a huge honour to be awarded the Grant of Appointment by the Lord-Lieutenant on behalf of The King and I am proud to accept this award on behalf of our fantastic and dedicated team. “This is the highest and most prestigious award that can be granted to a business in the UK and we are very proud to now be displaying The Queen’s Award emblem. “Since we received notification of the award, we have welcomed a wealth of new corporate clients to the scheme and a marked increase in the number of new Access Card applications. “With this recognition and the increased profile for the Access Card, our goal is to continue to break down the barriers facing all disabled people not just here in the UK but worldwide.” The Nimbus Disability team were joined at the Grant of Approval ceremony by early adopters of the Access Card including The Ticket Factory which was the first company in the UK and one of the first in the world to offer a true online sales experience for disabled customers. General manager Gareth Coleman explained: “Working with Nimbus through The Access Card means that our team do not need to have awkward conversations with customers about their accessibility requirements. “Our partnership ensures the right tickets are sold to the right people and that we are able to provide all of our customers with the online service they want. “Our partnership is a literal godsend for everyone involved and I am proud that we are at the forefront of this service for disabled people.” The event also heard from Tom Pursglove MP, Minister of State for Disabled People, who pre-recorded a message. He said: “Nimbus is doing fantastic work in providing businesses with expert advice on how to better meet the needs of disabled people. This specialist knowledge is vital in increasing accessibility for disabled people across a range of sectors. “The award is well deserved and I look forward to hopefully working with Nimbus in the future to continue making a meaningful difference to disabled people’s lives.” After the formal presentation, guests met some of the staff and volunteers who operate the Access Card system and saw the process in action. Mrs Fothergill concluded: “Nimbus Disability were one of only 48 companies nationally to be recognised with The Queen’s Award for Enterprise in Innovation last year and should be congratulated on this prestigious achievement. “The Access Card is a life-enhancing innovation and this award recognises it as an outstanding British brand.”

Newark firm to install up to 380 smart meters at former Hallmark card factory

Newark-based WilSon Energy, a provider of Heating, Metering, Pre-Payment and Billing & Bureau Services for residential homes and commercial developments, has undertaken the first phase of a smart meter installation at a former factory in Bradford. In phase one, WilSon Energy has been appointed to install 150 smart meters on a private electricity network, as part of a complete renovation of the one-time Hallmark card factory, which is undergoing a major refurbishment into 380 residential units, to be known as The Printworks. The developers delivering the scheme were experiencing issues with a lack of transparency around metering information, billing details and were not able to access charging and consumption data for electrical energy usage. Many tenants had previously complained about incorrect bills, queried energy usage and the management team were finding it difficult to manage billing. As well as installing the private energy network and smart meters, the firm will support the landlord with a complete meter monitoring, billing and bureau service and a customer excellence team. Andy Wilkinson, CEO at WilSon Energy, said: “WilSon Energy stepped in to offer support and find a solution to the challenges the property developers were facing in 2022. By putting in a private electricity network with dedicated smart meters, which provides access to an online portal with real time data, we can put landlords and tenants in control of their energy supplies and help with invoicing. “Our dedicated billing and bureau team is on hand to support landlords and property managers with data to inform decision making, while the smart meter and Pay as You Go system offers tenants multiple ways to pay and top up credit through a committed customer service team and resident portal.” A spokesperson from the property management company added: “With the previous system, deployed by a former contractor, we were not receiving management data, had issues with incorrect billing and lack of control over the energy supplier. Residents were understandably unhappy about receiving incorrect or sporadic bills. “With support from WilSon Energy we are in a position to roll out the latest technology to residents which will provide a myriad of benefits, including accurate readings and a more cost-effective solution for utility bill management, ultimately helping our tenants to monitor and manage their energy usage.” The first phase of installation is now complete, with the remaining dwellings in phase two to be fitted in mid 2023 when rest of renovations are due for completion.

Permanent staff appointments in the Midlands fall at quickest rate for two years

The KPMG and REC, UK Report on Jobs: Midlands survey, compiled by S&P Global, showed that recruitment activity declined at the start of the year as firms were often hesitant to commit to new staff hires amid a weaker economic climate. Notably, permanent placements fell at the steepest rate for two years, while temp billings declined for the fourth time in the past five months. Candidate shortages also contributed to the drop in hiring activity. Staff availability continued to fall sharply across the region in January, most notably for short-term staff. Competition for scarce workers and efforts to fill vacancies – which rose further in January – led to sustained upturns in starting pay. The KPMG and REC, UK Report on Jobs: Midlands is compiled by S&P Global from responses to questionnaires sent to around 100 recruitment and employment consultancies in the Midlands. Stronger decline in permanent staff appointments The number of people placed into permanent roles across the Midlands fell for the third time in the past four months in January. Notably, the rate of contraction accelerated to a substantial pace that was the quickest recorded for two years. It was also the steepest seen of all four monitored English regions. Recruiters that posted a fall in permanent placements often linked this to the weak economic climate and candidate shortages. At the national level, permanent staff appointments fell for the fourth straight month. Though solid, the rate of reduction was the softest seen over this period. After expanding for the first time in four months in December, billings received from temp staff hires in the Midlands declined in January. Though only modest, the reduction contrasted with increases in temp billings across the three other monitored English regions. Notably, billings rose at the strongest pace since last September across the UK as a whole, albeit one that was modest overall. Anecdotal evidence indicated that billings for short-term staff fell due to greater caution among clients due to the weaker economic outlook as well as low candidate supply. Demand for permanent staff in the Midlands continued to rise at the start of the year. The rate of vacancy growth quickened slightly on the month and was sharper than that seen at the national level. That said, the upturn remained softer than the long-run trend. Temporary job openings also expanded markedly, though growth softened from that seen in December and was below the series average. Nevertheless, the upturn was slightly quicker than that seen across the UK as a whole. Downturn in temp candidate numbers accelerates Recruitment consultancies based in the Midlands signalled a sharp and accelerated reduction in temp candidate supply at the start of 2023. Furthermore, the rate of deterioration was the sharpest seen in five months and the quickest of all four monitored English regions. There were reports that candidates often preferred the stability of permanent roles, while candidate availability was also hampered by skill shortages. The seasonally adjusted Permanent Staff Availability Index signalled a second successive monthly fall in permanent candidate numbers in the Midlands during January. The rate of decline eased slightly on the month, but remained sharp overall and exceeded the UK-wide trend. Concerns over the economy and job security had reportedly deterred potential job seekers, while Brexit and a low unemployment rate were also cited by recruiters as limiting candidate supply. The Midlands and the North of England posted the joint-steepest drop in permanent candidate numbers. London was the only monitored English region to see an improvement in permanent candidate supply. Starting salary inflation slips to 23-month low Average salaries awarded to newly-placed permanent staff in the Midlands increased further in January, thereby stretching the current sequence of rising pay to 23 months. Though marked overall, the rate of growth eased to the softest seen over this period and was weaker than those seen across the three other monitored English regions. According to panellists, starting salaries had increased amid efforts to attract candidates and fill vacancies. Average hourly pay for short-term staff in the Midlands rose for the twenty-sixth month in a row during January. Furthermore, the rate of growth quickened to a five-month high and was slightly stronger than the national average. Where higher rates of temp pay were registered, recruiters often attributed this to greater competition for scarce workers. Commenting on the latest survey results, Kate Holt, people consulting partner for KPMG in the Midlands said: “January saw permanent staff appointments fall at the quickest pace in two years, with demand for skilled staff continuing to outpace availability across the Midlands. “With the cost of living continuing to place upwards pressure on pay, job security causing low candidate supply and employers relying on temporary staff as permanent placements decline again, the jobs market remains volatile. “Recruiters and employers should be thinking creatively about how to attract and retain permanent hires to bring about stability, including by taking on more apprentices across a range of age groups, and investing in upskilling and reskilling their existing staff.” Neil Carberry, Chief Executive of the REC, said: “January’s recruitment activity suggests that speculation about a shallower economic downturn may be justified. Temporary pay growth has quickened as supply of short-term workers has fallen sharply. This means the rate of pay growth in the Midlands increased to a five-month high and was stronger than the national average. “Underpinning a sense of optimism, vacancies increased for both temporary and permanent roles in January. While this will reflect activity that may have been delayed from the autumn, it is another sign of firms feeling confident to hire, even if they are leaning more to temporary hiring than normal in this uncertain environment. That is the power of our temporary work market – it gives us a way to ensure firms can grow and people can build their careers even when the picture is uncertain. “The need to address the fundamental challenges our labour market faces has not changed with the turning of the year. From skills to tackling economic inactivity, and from immigration to childcare there is much that can be done in partnership with business to help our economy grow and workers to prosper. Ahead of the Budget, the Chancellor should put the people stuff first across the whole of government. Every department has a role to play in getting growth going – and that starts with enabling our labour market.”

Round table with private sector partners identifies key business priorities for Leicester

Leicester City Council and Leicestershire County Council met with private sector businesses including IM Properties, Commercial Estates Group, Strata Living, Charles Street Buildings Group and Hickman and Smith in the first of a series of collaborative round table events. At the first session, held at Space Park Leicester, partners identified marketing the place, unlocking growth, meeting housing demand, achieving net zero and planning to support growth as key priorities to progress that will support investment and sustainable growth across the city and county. The aim of the round tables is to focus on specific topics impacting growth and inward investment in Leicester and Leicestershire, and discuss how the public and private sector can work together to reflect on successes and constructively challenge issues, leading to positive outcomes for businesses and residents in the city and county. Richard Sword, Strategic Director for City Development at Leicester City Council, said: “It’s critical that communication lines are open between the council and our partners in the property industry. The City Mayor, Sir Peter Soulsby has delivered significant regeneration in the city over recent years with more large-scale regeneration planned in the future. “We can only realise the city’s ambitions with the help and support from our partners. It was an insightful first round table session, discussing some meaningful issues on key topics, alongside some meaningful industry insights around the challenges faced in our region.” Tom Purnell, Assistant Chief Executive at Leicestershire County Council, said: “We have ambitious growth plans, and we know that partners are key to shaping and delivering our vision. “Thanks to the hard work and collaborative relationships between our public and private sectors, Leicester and Leicestershire offer new houses, excellent transport links and skilled people that attract some of the biggest global brands.” A further four round tables are due to be held in the coming 12 months in the city and county’s drive to continue their partnership working with the private sector.

Optimistic Midlands SMEs target 2023 growth

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Midlands SMEs are set for a boost with increased turnover and improved cashflow, new Paragon Bank research has found. The research found that 62% of Midlands SMEs expected their Q1 2023 turnover to be higher than twelve months ago. Carried out by Opinium, the research also found that cashflow is also set to improve for Midlands SMEs during 2023, with 56% predicting increases between Q1 and Q2 and only 15% predicting expecting cashflow to tighten. Anticipated improvements to cashflow and turnover has led to optimism for the year ahead, with 54% of Midlands SMEs confident about the future – above the national average of 50%. Confidence in their own business is greater than that for the UK economy as a whole. Of those surveyed, only 34% of Midlands SMEs expressed confidence on how the economy will perform – but this increased to 62% when considering the sector in which they operate. The optimism of Midlands SMEs in their businesses is matched by planned investment in their operations, including:
  • Existing premises (90%)
  • Commercial vehicles investment (89%)
  • R&D (88%)
  • Staff development (71%)
  • IT/technology investment (70%)
  • Staff recruitment (68%)
  • Fleet or director vehicles (67%)
  • Machinery/equipment investment (45%)
While the research findings identify both the optimism and resilience of SMEs it also identified the challenges presented by the high inflationary environment of 2022 with increases to:
  • Equipment (85%)
  • Fuel for vehicles (84%)
  • Raw materials (83%)
  • Employee salaries (81%)
  • Production costs (73%)
  • Vehicle maintenance (71%)
  • Employee benefits (63%)
  • Premises cost (60%)
Peter Pike, Paragon Bank SME Lending Regional Director, said: “With plans for investment and optimism for the year ahead, Midlands SME are once again rising to the challenge of supporting the regional and national economy. Expected improvements to both cashflow and turnover create the conditions for increased business – and it is vital that businesses have access to financing to support their growth ambitions. “SMEs looking to invest should also take assurance from the availability of financing from specialist lenders, such as Paragon – and we are ready to work with them to find solutions that will support their growth ambitions in the years ahead.” John Phillipou, Paragon’s Managing Director of SME Lending, said: “With expectations for growth and plans to invest in their businesses, SMEs are ready to help the economy recover from the challenges of recent years. It is clear from the research data that SMEs are optimistic and resilient, and it is therefore vital that they can continue to access the financing required to support their growth plans.”

Construction work begins on new 6th Form college in Corby

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Work has started on transforming Chisholm House in Corby into a new state of the art campus, for 16 – 18-year olds, ahead of its opening in time for the start of the Autumn term. Once completed, the 40,000 sq ft Corby Sixth Form will offer a range of A Level subjects and comprise an impressive new entrance, more than 25 classrooms, state of the art science labs, resource centres and performance areas. The students will be able to enjoy an external roof terrace, a modern café and common room areas – all in a town centre location. The design will embrace the current style of the building and has been designed to run as carbon neutral. The new campus is being delivered in partnership between The Bedford College Group and North Northamptonshire Council. The 6th Form will be run by The Bedford College Group from Autumn 2023. Cllr David Brackenbury, the council’s Executive Member for Growth and Regeneration, said: “It was great to visit the site and see work progressing on the new Corby Sixth Form. This project is one of four across the town which fall under the Corby Towns Fund and aims to encourage economic growth in the local area, benefitting not just the pupils that attend but also the wider Corby area. “I look forwarding to visiting again once the site is open to students and to see the full range of facilities on offer.” The project is being facilitated through the Corby Towns Fund, which sees the Corby area receiving £19.9m from central Government for four projects, including the new sixth form centre. The Bedford College Group’s Head of Sixth Forms Helen Smith said: “The Group’s pioneering 6th Form at Bedford has been a resounding success and has sent 1,000s of young people on to university and other progression opportunities such as Higher and Degree Apprenticeships. We hope our Corby 6th Form will replicate those fantastic opportunities for young people in Northamptonshire.”

Off-market deal sees 9,000 sq ft let at Nottingham industrial park

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Commercial property specialists Landa Associates have completed an off-market deal to let 9,000 sq ft of space at Moorgreen Industrial Park to local family business Prosign Print & Production Limited. Acting on behalf of Wistow Properties, Sunny Landa FRICS, director of Landa Associates, brokered the lease on Units 3 & 4 Harry’s Court. Prosign, which provides large format printing, POS, and display products, has expanded into the units following a period of growth which has also seen it invest heavily in new machinery and technology. The move has enabled the company to broaden its offering to include vehicle wraps and exhibition stands. Prosign’s headquarters in Moorgreen was built to high specification around 20 years ago. Both units boast 6m eaves, with the premises also benefitting from a sizeable yard and 20 parking spaces. Sunny Landa said: “I’m delighted to have secured this deal for my clients Wistow Properties. It’s clear that economic headwinds aren’t adversely impacting the industrial market, and this deal shows that by knowing your market you can still achieve great results. I’m incredibly pleased for my client and, of course, for Prosign, who are a fantastic family business.” Steve Hardy, Managing Director of Prosign Print & Production Limited, said: “I’d like to thank Sunny for all of his hard work on this deal. He was a joy to work with and made the process seem effortless. By taking the lease on these units we’ve really put a marker down. Prosign is here to stay and we’re looking forward to taking the business to the next level here in Moorgreen.” A spokesperson for the landlord, Wistow Properties, added: “We are also very happy to secure such a great tenant in Prosign. It was a pleasure to do business with Steve and we wish the company every success in their new home.”

Diverse Academies gets ‘in principle’ approval for Edwinstowe school

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The Diverse Academies Trust has been given ‘in principle’ approval to sponsor a proposed new 210-pupil primary free school at Thoresby Vale, Edwinstowe. David Cotton, chief executive officer for Diverse Academies, said: “We are absolutely thrilled to have been given the opportunity to lead on the development of this new school. Core to our mission as a multi-academy trust is placing the community at the heart of what we do and, in close partnership with our local authority colleagues, we are looking forward to bringing this plan to reality.” Cat Thornton, chief education officer at Diverse Academies, added: “Our Trust has extensive primary education experience. This new school will benefit from an excellent leadership team who are keen to create an inviting, vibrant curriculum for the children of Thoresby Vale – and in a setting where we can nurture their curiosity, develop their wellbeing and help them to go beyond their aspirations.” Councillor Tracey Taylor, Nottinghamshire County Council’s Cabinet Member for Children and Families, said:“I’m very pleased that Diverse Academies Trust has been given approval to sponsor the new primary school in Edwinstowe. The council is committed to making sure there are sufficient high quality school places for children in Nottinghamshire and this is good news for the community.” “I look forward to the project getting underway and to working with the Trust to deliver a new school for the families of Nottinghamshire.” Plans for the new ‘forest school’ style building have been submitted by the developer, Pegasus Group. Subject to approval, the school will be built on a former colliery site currently being transformed to include a new 350-acre country park with 800 new homes, a local centre and commercial space, and will offer places for children from reception class to Year 6.

Severn Trent offers funding for ‘shovel-ready’ projects to support nature

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Water company Severn Trent is inviting individual land managers, community groups and businesses to come forward and ask for funding for projects to improve nature in the local environment. This offer is available for a limited time to help support nature projects across the region that may have been put on hold because of the cost-of-living crisis. The scale of each project must be over one acre (roughly half the size of a rugby pitch) and must be completed by Friday 24 March 2023. Graham Osborn, Principal Ecologist at Severn Trent, said: “We know that the cost-of-living crisis is having a knock-on impact on nature projects across the region. We want to help, which is why we’re encouraging people to come forward with their projects for this extra funding, to help boost nature in their area. “What’s good for nature is good for water and we’re open to any ideas, but the more creative the better! For a bit of inspiration, previous projects have included hedgerow planting, wildflower meadow creation and habitat management for native birds and mammals. “To qualify for this funding, the project must be completed by Friday 24 March 2023, so ideas and proposals need to be shovel-ready to ensure they are up and running by the spring to give the habitats and wildlife the best chance to thrive. We will also consider projects that have already started but weren’t able to be completed, perhaps because they ran into financial difficulty.” Previous applicants of one of Severn Trent’s schemes to boost biodiversity across the region include the Tame Valley Wetlands, the RSBP and West Midlands Bird Club who collectively secured £10,431 for their work to increase the population and local range of Willow Tits in the Tame Valley, by creating new habitats and raising community awareness of the species. To apply for funding, please email ecologymatters@severntrent.co.uk to express your interest as soon as possible.

Purchaser sought for East Midlands kitchen countertop specialists

A potential purchaser is being sought for Nottingham-based kitchen countertop professionals, Phoenix Granite. It comes after consecutive years of high-profit margins and continuous success. Mark Fitzgerald-Cooke, Managing Director at Intelligent Business Brokers, said: “This is a fantastic opportunity for any individual looking for a business in the East Midlands. We are delighted to be listing Phoenix Granite as a business for sale, with an excellent reputation and a large network of both B2B and B2C clients in the area.” Mr Tauroza, Phoenix Granite owner and operator, is offering a transitional period to any purchaser, and guarantees that the future of Phoenix Granite will be even brighter than its past achievements.

Countryside Partnerships acquires land from Homes England for 265-home Derbyshire development

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Countryside Partnerships has completed the acquisition of land at Shirebrook in Derbyshire from Homes England. The site, to be known as Pleasley View, will provide 265 homes and will form the final phase of Homes England’s Brookvale development. At the same time, Countryside Partnerships has completed a deal with Sigma, a provider of private rented housing, who will purchase 68 of the new homes. The remaining homes include 146 for open market sale, to be sold via Linden Homes (part of Vistry Group), and 51 affordable homes that will be managed by a registered provider. Work is expected to begin early 2023, with the homes completed within four years. Andrew Poyner, Managing Director of Countryside Partnerships Yorkshire, said: “Pleasley View builds on our established and successful relationship with Homes England in the North and we’re looking forward to delivering these new homes and creating a high quality new community to live in. “The development is a brilliant example of our mixed-tenure approach; by working with quality partners like Sigma and affordable housing providers, we can offer a broad range of tenures, giving a wider group of people the opportunity to either own or rent a quality new home in their local community.”

Another STEP towards near limitless, low-carbon energy at West Burton

The future of abundant low-carbon energy without the need for fossil fuels could be in sight after Science Minister George Freeman announced the creation of a new delivery body for the UK’s fusion programme, named UK Industrial Fusion Solutions Ltd. Fusion energy has the potential to transform our world, by delivering near limitless, safe and low-carbon energy across the globe for generations to come. It also represents a burgeoning industry in which the UK is already a world-leader, as demonstrated by the record-setting results from experiments conducted at the UK’s Joint European Torus (JET) facility last year, with the potential to not only power the world but deliver vast economic growth across the country. On the visit to the future site of the UK’s first prototype fusion energy plant at West Burton, near Retford, the minister urged energy companies and investors to recognise the vast potential fusion energy could have for both the UK and the wider world. The Spherical Tokamak for Energy Production (STEP) plant will be constructed by 2040 to demonstrate the ability to use fusion energy to generate electricity for the UK grid. Magnetic confinement fusion, the approach to generate fusion that will be demonstrated in STEP, occurs when a mix of two forms of hydrogen are heated to extreme temperatures – 10 times hotter than the core of the sun – fuse together to create helium and release huge amounts of energy. The energy created from fusion can be used to generate electricity in the same way as existing power stations. Fusion is many million times more efficient than burning coal, oil or gas and the raw materials needed to provide the fuel for fusion are readily available in nature. However, a number of significant technical hurdles remain, which the STEP programme is set up to address. The STEP programme intends to pave the way to the commercialisation of fusion and the potential development of a fleet of future plants around the world, driving forward the UK’s global leadership in this innovative sector. The announcement comes shortly after a major breakthrough for fusion in the US where the US National Ignition Facility in California conducted fusion experiments which released more energy than was put in by the lab’s enormous, high-powered lasers, a landmark achievement known as energy gain. Science and Innovation Minister George Freeman said: “Fusion energy now has the potential to transform our world for the better by harnessing the same process powering the sun to provide cheap, abundant, low-carbon energy across the world. “The UK is the world-leader in fusion science and technology, and now we are moving to turn fusion from cutting edge science into a billion-pound clean energy industry to create thousands of UK jobs across the UK, grow exports and drive regeneration of this former coalfield site through a fusion innovation cluster in Nottinghamshire. “That’s why I’m delighted to announce the creation of Industrial Fusion Solutions as the vehicle for industrial development and deployment of this technology as a new clean energy source in the coming decades.” Professor Sir Ian Chapman, UKAEA Chief Executive, said: “The establishment of Industrial Fusion Solutions will enable STEP to accelerate its journey towards delivery of electricity from fusion energy to the grid. The new body, which will be formed over the next 18 months, will be established as a programme delivery organisation, driving performance and pace and engaging industry in this endeavour. “Alongside the establishment of the new organisation, we are beginning to map out our future skills requirements and, as part of this, we are committing to the development of a STEP Skills Centre at West Burton. This will enable us to provide as many opportunities as possible to people across the area. “We look forward to working with people in the region to develop our ambitious plans and realising broader social and economic benefits.” The new organisation will be a company limited by shares established to work together with industry to deliver the prototype plant by 2040. Recruitment for the Chair of UKIFS launches soon. As part of the visit, Science Minister George Freeman also announced an immediate commitment to create the STEP Skills Centre at West Burton, a major boost during National Apprenticeship Week. He also spoke with local apprentices currently working at the UKAEA Culham campus, and key local stakeholders. Welcoming the news of a new delivery body and skills centre, Councillor Ben Bradley MP, Leader of Nottinghamshire County Council said: “STEP will bring incredible benefits to the county and wider region, including millions, if not billions worth of investment, putting it at the heart of the government’s plans to revolutionise the way we generate energy in the UK. “The site will be the international hub for carbon-neutral, fusion development, attracting the brightest minds locally and from across the world and creating thousands of highly skilled jobs. The creation of a new skills centre at West Burton will further boost skills and training.” Cllr James Naish, Leader of Bassetlaw District Council, said: “The District Council welcomes the announcement of the creation of a new company to deliver the STEP project. The construction of a prototype fusion energy plan will require significant investment over the next two decades, and we are delighted that the initial steps – including the appointment of the first three local jobs – are happening quickly and efficiently. “I am especially excited by the broader benefits of this project. In addition to billions of pounds being spent on the project itself, we envisage millions being pumped into towns and villages across Bassetlaw, through both direct and indirect investment. This is a once-in-a-lifetime opportunity for Retford, Tuxford and other nearby settlements to see improved infrastructure, better connectivity, and thousands of new skilled jobs – all of which will raise living standards and transform our area. “The announcement about a new training hub on the West Burton site is also warmly welcomed. The creation of high-quality apprenticeships for people of all ages is a corporate priority for the Council, and we are looking forward to working with the UKAEA and its partners to create successful training programmes for current and future Bassetlaw residents.”

Next steps for major 4,500 home regeneration scheme

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Plans for one of Derby’s flagship regeneration projects, with the potential for thousands of new homes and jobs, could be set to receive a boost as Derby City Council’s Cabinet are set to grant powers and transfer funding to Derbyshire County Council. The two authorities, along with South Derbyshire District Council, are working collaboratively to deliver one of the city’s most exciting projects, the South Derby Growth Zone which includes the Infinity Park Derby and Infinity Garden Village. The authorities have already received an ‘in principle’ of £49.6m from the Levelling Up Fund, which is reliant on a full LUF Business Case being submitted. Cabinet members will now decide whether to approve the transfer of £500,000 of Homes England Garden Villages funding to the County Council to finalise the business case. This scheme promises major benefits for Derby, including up to 4,500 new homes, 3.4 million square feet of employment floor space, and a further 5,000 jobs for the city. Without the new junction, it’s expected that only 280 of the possible 4,500 new homes would be possible. These new homes would form the new Infinity Garden Village, one of 14 new Garden villages announced by the Government in 2017 as a response to meeting local housing needs – especially for first-time buyers. The County Council are also set to be granted highways powers within Derby City’s boundaries to allow them to progress works on a junction and link road at the A50, which will unlock maximum benefit from the scheme. Councillor Steve Hassall, Cabinet Member for Regeneration, Decarbonisation, Strategic Planning & Transport, said: “The South Derby Growth Zone is a big opportunity to deliver high quality housing and jobs for Derby, whilst also providing a brand-new transport link in the south of the city. Entering into these collaborative agreements demonstrates our commitment to the project and to the city. “By allowing the transfer of powers and funds to our colleagues at Derbyshire County Council, we can ensure good progress continues to be made towards the completion of the LUF business case and delivery of the new road junction.” The recommendation will be discussed at Cabinet on Wednesday 15 February.

East Midlands employers turn to school leaver apprenticeships to attract diverse talent

Grant Thornton UK LLP has unveiled new research for National Apprenticeship Week (6-12 February), which shows that employers in the East Midlands are increasingly looking to apprenticeships to attract diverse, talented young people to their business.
Every business leader in the East Midlands who responded to Grant Thornton’s latest Business Outlook Tracker survey said that they currently hire young people who have completed their A-Levels (or equivalent exams) into apprenticeship roles.
Over half (64%) of respondents said that they hire more school leavers in their business now than before the pandemic and 66% agree that hiring school leavers is as important to their business as hiring university graduates.
According to ONS data collected in February 2022, more than 9 in 10 (91%) university students in England were worried about the cost of living. Half (50%) felt they had financial difficulties and more than three-quarters (77%) of students were concerned that the rising cost of living may affect how well they do in their studies. For young people, these increasing financial burdens from self-funded higher education could explain the rising demand for paid apprenticeships.
East Midlands employers also see additional strategic benefits, with 78% of regional respondents to Grant Thornton’s survey agreeing that school leaver apprenticeships increase opportunity for people from lower socio-economic backgrounds within their business and 62% agreeing that school leavers perform just as well as graduates.
James Brown, partner and practice leader at Grant Thornton UK LLP, said: “Employers in the East Midlands are discovering the benefits of using apprenticeships as a development tool. These employers are strategically using apprenticeships to address issues such as improving diversity in the workforce, achieving sustainable recruitment, and replacing traditional graduate programs with highly desirable qualifications.
“Apprenticeships offer flexibility and the ability to tailor courses for specific development needs, making them particularly valuable to employers. These programs provide opportunities for training in high priority areas such as digital skills, finance, data analysis, and management, bringing new skills into the business that significantly benefit the organisation.
“At Grant Thornton, we are passionate advocates of apprenticeships as a valuable and effective route for young people to become trusted business and financial advisers. Apprenticeships promote social mobility in our communities and ensure a diverse and highly skilled talent pipeline for our firm, enabling us to provide top-quality service with teams that reflect the clients we serve.”