Rising costs and falling revenues causing worst small business pessimism outside lockdowns, new figures reveal
Cost pressures, falling revenues and a growing reliance on debt to prop up cashflows are among the gloomy findings of the latest Small Business Index (SBI) from the Federation of Small Businesses (FSB).
The quarterly temperature-taking survey reveals the greatest level of pessimism among small business owners outside of lockdowns, with a net confidence score of -35.9 in Q3 2022, down 11.2 points compared to the previous quarter.
Almost half (43%) reported falling revenues over the three months to October, compared to less than a third (32%) reporting an increase. Over the coming three months, four in ten (41%) expect revenues to decrease.
Rising costs continued to affect the vast majority of small firms (89%), with nearly two in five (38%) seeing costs increase by more than 10%.
The primary cost factors are utilities (60% of respondents), fuel (57%), inputs (48%), and labour (43%).
More than two thirds (68%) of small business employers have increased wages over the last year, with the average wage increase 4.5%.
For the third consecutive quarter there has been a rise in the number applying for finance (13% in Q3, compared to 9% in Q1). Of those, nearly half (46%) have turned to finance to help manage cashflow, up from 35% in Q2. Only a quarter (25%) applied for finance to expand their business, down from 29% the previous quarter.
One in five (20%) finance applicants failed to find an offer with an interest rate below 11%, while the majority of successful applicants (57%) were offered rates between five and 10%.
FSB development manager, Natalie Gasson-McKinley, said: “Small business entrepreneurs are, by their nature, an optimistic, dynamic and innovative bunch, which is why it is all the more stark to see this plunge in confidence. They want to be driving growth and economic recovery, but the headwinds against them right now are gale-force.
“Recent political and economic turmoil hasn’t helped, which is why it is vital the Government focuses on stability, including delivering on its promises to help with energy bills for small firms and to reverse the hike in National Insurance. That money must be in the pockets of small firms by next month, no ifs, no buts, followed by clarity on what will happen after the initial six-month period.
“While the new Chancellor has focused in his first days on reassuring markets to bring economic stability, he will need to turn again later to pro-growth measures, including revisiting issues such as IR35 changes and the decision to raise the equivalent of National Insurance for hard-working entrepreneurs who are paid via dividends. Raising taxes now will not generate growth, and we risk seeing high taxes with low or no growth for the foreseeable future.
“Taking more small firms out of business rates, which they’re clobbered with before they’ve earned a penny, would be a positive, pro-growth step. In time, there should also be a review of the level at which the higher rate of Corporation Tax kicks in, reducing a barrier for ambitious smaller companies.
“The Government’s own new annual figures show that two years of Covid has left the small business population smaller by half a million small firms and the self-employed. This gap of missing entrepreneurs, alongside those that have left the jobs market, should be the focus of medium-term growth measures, to help small businesses start up, grow, and recruit, after getting through the toughest of winters.”
FSB is also urging ministers to tackle a systemic problem in the economy on late payments, which would not require expenditure at a time of focus on public finances.
More than half (54%) of small businesses had their cashflow woes in Q3 compounded by the late payment of invoices, often by bigger business customers. More than a quarter (27%) said late payments are becoming an increasing problem, up from 22% in Q2.
Business-to-business (B2B) firms were the biggest victims, with the worst affected including those in the manufacturing sector (67%); professional, scientific and technical activities (65%); and construction (64%).
Natalie McKinley added: “The anti-growth late payment culture is a block on investment and economic recovery. If the UK Government is serious about going for growth, addressing this pernicious problem should be high on the urgent to-do list.
“Audit committees of big corporates must be made accountable for payment practices. Meanwhile, ministers must double-down on blacklisting big businesses which treat their smaller suppliers and contractors badly from landing lucrative taxpayer-funded contracts. This is a way of promoting growth without a price tag for the Exchequer.
“Giving more public sector contracts to smaller businesses should also be prioritised, at a time when there is an acute need to get value-for-money for taxpayers. Widening competition in public procurement by making more contracts suitable for small firms would save taxpayers’ money while driving up standards. It’s a no-brainer.”
Local businesses raise over £8,000 for Vicky McClure’s Our Dementia Choir
Members of the East Midlands business community came together at the annual CAPs (construction and property) charity golf day at Springwater Golf Club in Calverton, raising £8,500 for Our Dementia Choir.
88 players from local businesses were in attendance, across 22 teams, who played the course as well as testing their abilities in additional activities including a putting competition and a beat the pro game.
Monies were raised for the charity through ticket sales, hospitality around the course and a raffle.
Our Dementia Choir was formed by actress Vicky McClure in 2019, as part of a BBC documentary, as she set out on a journey to discover the true extent of music’s power of combatting dementia – following the death of her grandmother in 2015, who suffered with the condition.
Vicky formed the choir, which is made up of those living with dementia, in her hometown of Nottingham and supports them through singing and musical activities to provide a calm, engaging and friendly space for the community.
Businesses from across the construction and property sector were in attendance, with Blueprint Interiors, Jennie Holland PR, Influence Landscape Planning & Design, 200 Degrees Coffee, Pygott and Crone, Morgan Sindall, Hexa Consulting and GT3 Architects, who sponsored the event.
Coastal Distillery, a Lincolnshire-based business that makes a range of artisan spirits, donated drinks for the halfway house and 200 Degrees supplied coffee and cakes on the course.
At the end of the tournament, Our Dementia Choir was introduced to the players by Vicky McClure and charity manager, Karen Bonser and they performed four songs.
Prizes were given to the winners of both the individual and team competitions, which included rounds of golf at Springwater Golf club, gift vouchers for the onsite golf shop, champagne and PING golfing attire.
CAPs, which was founded in 2017 by John Tansur, client services director at Knights, and David Ford, director at Gleeds, has so far raised a total of £35,000 through a number of fundraising events, with further plans to host a black-tie dinner “with a twist,” a school sports style event and a racing Ladies Day in 2023.
David Ford said: “We’re really pleased so many from the construction and property sector came along to play golf, network, and have fun raising funds for such an incredible charity. John and I are very grateful for everyone’s generosity in raising such a huge amount of money for Our Dementia Choir and to the sponsors of the event. The performance from the choir was definitely the highlight so a big well done to all that sang for us on the day.”
Karen Bonser said: “We are thrilled the CAPs event raised £8,500 for Our Dementia Choir. These funds will enable the choir to reach out to many people living with dementia, of all ages, and support their families. We were honoured to bring awareness of dementia to the event and show the players and supporters how music can really make a huge difference.”
Funds doubled to £200k to help support Ukrainian refugees in Nottinghamshire
A Nottinghamshire County Council-led funding pot to support community groups which are tirelessly helping Ukrainian people settle into the county has been doubled to £200k.This support, which launched earlier this summer, is being funded by the Government’s Homes for Ukraine scheme.With an estimated 1,200 Ukrainian people due to arrive in the county under the Homes for Ukraine scheme, eligible groups are able to apply for funds of up to £5,000 to continue to help provide advice and support. This includes hosting special community events, providing access to translation services and language classes and promoting health and well-being.The first batch of projects have now been awarded funds, including three projects run by Nottingham’s Ukrainian Cultural Centre which has warmly welcomed the funding.This Nottingham Branch of the Association of Ukrainians in Great Britain is also the Council chairman’s, Cllr Roger Jackson, community cause this year, so he has been busy championing the work they do.
At the recent ‘Defenders of the Flag’ commemorations, Cllr Jackson presented the Centre with a cheque, having raised £5,000 in donations so far.
Cllr John Cottee, Nottinghamshire County Council’s cabinet member for communities, said: “We recognise the huge contribution that voluntary groups are already making to the lives of those who have fled Ukraine and endured unimaginable suffering, with people arriving in the county every week of course.“We’ve had a great response to these funds which is why we decided to double this funding to help as many of these groups as possible. The response from local communities has been incredible, particularly those who have opened up their homes to guests, with new hosts coming forward all the time.“As a county council we have been working closely with partners to help the Home for Ukraine scheme run as smoothly as possible. We are helping with access to benefits, healthcare, employment, language and other support.”Nottingham’s Ukrainian Cultural Centre is providing support for guests across the county with three separate projects receiving funding:*The Centre’s popular Chai Club receives £5,000 towards volunteer travel costs, equipment, and premises costs. The Chai Club provides access to health, financial information and support as well as providing volunteering and befriending opportunities for Ukrainian guests in a safe space which promotes Ukrainian culture. *£4,480 will go towards volunteer expenses, tutor fees, costs towards equipment and venue hire to support creative artist programmes aimed at encouraging young people to focus on the links between Ukrainian cultural heritage and living in Nottinghamshire. This is supported by architects and aims to equip young Ukrainians with ideas, knowledge, and skills to help rebuild their homeland in the future.*£4,760 toward tutor fees and volunteer expenses to provide five sessions of ESOL at different levels of ability weekly over a period of 33 weeks, delivered by qualified tutors.
Council chairman, Cllr Jackson said: “I’m delighted that Nottingham’s Ukrainian Centre has had this level of support from both the donations raised and via the council’s Local Community Fund.
“This centre has done so much to help to welcome guests arriving into Nottinghamshire and acted as first point of contact for many of the hosts. It is very much at the heart of the community providing information, guidance, practical advice and help to those Ukrainians who have been displaced.”
Lina Maksymuk from the Ukrainian Cultural Centre thanked Nottinghamshire County Council for the funding. She said: “We are confident that these grants will not only help different groups of new arrivals but will also help all our volunteers who have been working tirelessly all these months and will make functioning of the Ukrainian centre as a facility and as a hub more sustainable.”The other projects to receive funding from the first round are: 1st/2nd West Bridgford Scout Group – £2,000 will help fund towards volunteer expenses, community events and refreshments. The Group provides Ukrainian guests and their families with a safe space to meet with the wider community to access support and information. This includes access to English language classes, and a range of social activities.The Homes for Ukraine Bassetlaw Support Group – £3,700 will go towards volunteer travel costs, equipment, and premises costs to support a local group specifically set up to support Ukrainian guests. The Group deliver a full range of support services such as ESOL, employment support and social events.Newark & Sherwood Community & Voluntary Service will receive £4,975 to help fund additional staff who will encourage Ukrainian guests to access opportunities to improve their language skills and help them access support, advice and guidance and increase chances of future employment.Nottingham-based Refugee Roots will receive £5,000 which will contribute towards volunteer travel costs, equipment, and premises costs. Building on existing expertise to support refugees and asylum seekers, this group provide a safe space in the community for Ukraine guests across Notts to access English languages classes, requalification, employment support, volunteering opportunities, gardening and health and wellbeing activities. St Johns Church, Worksop – £5,000 will contribute towards volunteer travel costs, equipment, and premises costs. The Church provides a safe space for guests to enable them to make friends and access local employment opportunities, health care and professional trauma support if needed. Beeston-based Transform Training will receive £4,980 to help fund additional staffing capacity, volunteer expenses and room hire to provide specialist employability support for Homes for Ukraine guests, providing translation services for CVs, supporting job search and interview preparation.The LCF scheme is supporting eligible local community projects and activities to welcome and integrate refugees arriving in Nottinghamshire. This will include:• Costs associated with supporting English language classes• Costs associated with running job clubs• Advice and support on financial matters• Tackling loneliness and isolation through for example befriending schemes and support networks• Promoting health and well-being• Organising community events• Supporting and encouraging volunteering.The scheme will work in the similar way as the Local Community Fund,• A rolling programme of applications throughout the year• A maximum of £5,000 can be applied for per project/activity• A simple application and assessment process• A member-led approach with the approval of grants made by the Cabinet Member for Communities Eligible groups can apply here: The Local Communities Fund (LCF) | Nottinghamshire County Council
200 Degrees turns ten
200 Degrees Coffee gathered at its Nottingham Roast House last week, with colleagues and friends, to celebrate ten years in business.
The coffee roaster has been on quite a journey since the company began in 2012, having opened 17 coffee shops – with its latest in Derby opening next month – six barista schools, launching a home subscription and ecommerce service, significantly investing in its Roast House, reaching 200 team members and recently welcoming four new roles to its central operations team.
Held at the company’s Roast House on Meadow Lane, the event marked and celebrated the 10-year milestone and thanked the 200 Degrees team – some of which have been with the company since its inception – its suppliers, partners, loyal customers and others that have played a part in the coffee roaster’s success.
The jam-packed evening was filled with 200 Degrees’ signature coffee blends, Espresso Martinis and street food from local vendors. Guests also had the chance to try their hand at latte art and win a Sage coffee machine, as well as guided tours of its newly refurbished Roast House and a roasting experience with head roaster, Mike Steele.
To top off the evening, the company shared an exclusive preview of its new coffee packaging ahead of its launch to market in November.
Co-founders Rob Darby and Tom Vincent set up 200 Degrees from the corner of a garage before it moved on to its roastery on Meadow Lane – opposite the Notts County Football Stadium – and since its inception the company has expanded its footprint across the Midlands, North and Wales.
CEO Rob said: “200 Degrees was born out of wanting to solve a problem. Tom and I wanted to find better coffee, service and training, and after struggling to find it, we decided to become the solution.
“Ten years later and we are operating with a team of just over 200 people, which is what I am most proud of. There’s huge pride in running a business with a team of this scale – from accountants and sales managers to roasters and packers in the warehouse.
“We knew we wanted to open a number of coffee shops, but it has grown beyond that and we’re getting ready to open our 18th shop. There will be more to come, and we will continue to do what we’re doing but better and more sustainably, to evolve the brand and create experiences for everyone to remember.
“We’d like to thank everyone that joined us to celebrate ten incredible years and we look forward to what the next ten brings for 200 Degrees!”
Anthony James restructures management team as Boorman becomes CEO
Loughborough-based insurance broker, Anthony James, has announced strategic changes within the structure of its senior management team.
The restructure sees current Managing Director Steve Boorman become CEO, with sales director Jacob Duckworth moving into the MD role.
The news is the latest move as the firm consolidates it position in the market following the acquisition of Nottingham counterpart Bale Insurance Brokers back in the spring.
Speaking about the changes, Steve Boorman said: “We have ambitious plans for sustainable growth in terms of the team, our business and our associated businesses. A big part of that wider picture is working with, developing and promoting incredible talent and Jacob is a perfect illustration of that.
“In a market known for consolidation, we are fiercely independent. Maintaining that independence requires the creation and development of a thriving culture within the organisation. Jacob, Leonie Rainbow (operations director) and Liudmila Matvievskaia (finance director) are leading that charge and I’m proud to have worked with them as they have built their careers in the industry together here at Anthony James.”
Jacob Duckworth added: “I am immensely proud to be moving into a role that Steve has created, thrived in and developed over these past years. We are ‘reliably different’ as a company and certainly as an insurance brokerage and that is down to the values that Steve has helped to instil right across the team and into our entire philosophy as a company.
“Fortunately for me, I will be working very closely with Steve, Leonie and Liudmila to continue in this spirit of innovation, customer-centric thinking and frankly, just doing things differently, to develop our client offering and experience further still.”
East Midlands marketer publishes his first book
Barry Michael Aldridge, a fully chartered marketer, and head of marketing for Flotec Industrial Limited, a Loughborough-based SME manufacturer, has written and published a book which he has titled ‘Open-Minded’.
Having worked predominantly within the B2B sector for many years, Aldridge is well known both in industry and marketing’s professional networking circuit.
Barry explained the reason for publishing his book: “Earlier this year, I set myself a personal challenge of writing a book and ideally having it published before the end of 2022. I had been blogging ‘Open-Minded’ on LinkedIn so decided to continue with that theme and turn it into a book.”
Barry describes ‘Open-Minded’ as being ‘an A to Z of creative thinking’. In the book Barry works his way through the alphabet, thinking of words to act as a launch pad for creative thinking and discussion. Topics covered include marketing, technology and sociological matters.
“I explore neurodiversity in the book as well. I’m trying to support organisations like the Business Gateway in raising the profile of neurodiversity in the workplace so that all the skills that people with ADHD, Autism and other conditions have can be used productively at work with a few reasonable adjustments. The leftfield point of view that neurodivergent people bring to business can be a really powerful differentiating factor in improving processes and spotting opportunities to create new products.”
Barry concluded: “People have asked why I have written a book and the answer really is because I wanted to share my experiences, thoughts, and ideas. To hold a printed book in your hand and read through its pages with the knowledge that it is your very own work feels incredibly rewarding.”
Open-Minded – An A to Z of Creative Thinking is available to buy now on Amazon in digital, paperback, and hard copy formats: https://bit.ly/open-minded-the-book
Investment zone bids put forward for Lincolnshire
Two expressions of interest have been put forward for sites in Lincolnshire to become new government Investment Zones.
One submission is for an Investment Zone which supports the UK Food Valley, covering Clay Lake, Spalding, and Holbeach Food Enterprise Zone.
The second submission is for an Investment Zone covering Spitalgate, Grantham, which builds on the location and scale of the area.
It is likely that the process will be highly competitive and that only a relatively small number of Investment Zones will be granted, with hundreds of applications expected.
Cllr Colin Davie, executive councillor for economy and place at the county council, said: “Investment zones are a great opportunity to benefit landowners, developers and businesses, with faster, more simple planning processes, a focus on infrastructure requirements, and tax and other local incentives.
“As always, we are ambitious for our area and have prepared bids where we can make improvements straight away and deliver real growth. The tight deadline the government set suggest they will choose submissions where councils are able to deliver outcomes very quickly.”
Councillor Nick Worth, South Holland District Council deputy leader and portfolio holder for people, places, economy, said: “I am really pleased that we have the opportunity to put forward this expression of interest for a new Investment Zone within South Holland, which would support development and growth in the district and help us to attract and create more new and innovative businesses.
“There are already so many examples of forward-thinking and ambitious work being carried out in the local area, with the Holbeach Food Enterprise Zone just one example of the progressive steps we are taking.
“Being chosen as one of the first Investment Zones for the country would provide another great and welcome boost on this journey.”
Jon Hinde, head of economic development at South Kesteven District Council, said: “A successful bid would provide the opportunity for Spitalgate Level to deliver significant housing growth, inward investment opportunities and job creation for the local and wider area.
“This would support South Kesteven District Council’s key ambition to deliver ongoing and sustainable growth of the economy, something fundamental to the success of the district, its businesses and residents.
“The Spitalgate Level Investment Zone would be a key initiative for bringing that growth forward and establishing Grantham, with its existing manufacturing and logistics sectors, as a high value centre connected by the A51, the A1 and benefiting from its new relief road and rail links.”
Derbyshire pledges support to help minerals industry become more sustainable
Leading figures from the quarrying and mineral products industry met with Derbyshire County Council cabinet members on Friday to discuss how they could work together to cut carbon emissions on the journey to net zero.
As one of the country’s leading producers of minerals, Derbyshire has a long history of mineral production and council representatives joined important industry delegates for a round-table discussion about making the industry greener, hosted by the building materials firm CRH Tarmac at their Tunstead site, Buxton.
Topics for discussion included alternative fuels, road network capacity and constraints, carbon capture, storage, and utilisation, distribution logistics, and education and skills.
Cabinet member for infrastructure and environment, councillor Carolyn Renwick, said: “We very much welcomed this opportunity to talk to leading figures in the mineral products industry to discuss their plans and ambitions to become more sustainable, and we thank Viv Russell, president of The Institute of Quarrying, for making this event happen.
“While Derbyshire’s varied mineral resources bring significant benefits to both the local and national economy, we recognise that the extraction of minerals, processing, and transport to market all generate carbon emissions which contribute to climate change.
“The county council is committed to helping Derbyshire to become a net zero county by 2050 or sooner to help halt the effects of climate change, and so this was a great first step towards finding out what we as a local authority can do to support the sector to become more sustainable locally, which we hope will also help to bring about change nationally.
“We acknowledge the steps the industry has taken so far and the ongoing investments it continues to make towards achieving net zero emissions and we look forward to working with the sector more closely in the future.”
The Derbyshire Mineral Products Industry is worth £2.1 billion to the local economy and is the largest producing county to a sector that is the largest manufacturing industry employing 100,000 in the UK.
Viv Russell, president of The Institute of Quarrying, added: ”Establishing collaborative initiatives such as this between the regional authorities and the industry are critical to ensure we can meet the challenges of decarbonisation. I hope this meeting is the first step in developing a pathway to delivering on our collective ambition.”
The council are currently working with Derby City Council to produce the Derbyshire and Derby Minerals Local Plan to help to positively plan for delivering sustainable minerals development for the period up to 2038.
It will include a framework of strategic policies that will set out an overall strategy for the pattern and scale of mineral development to make provision for the supply of minerals.
The plan has a key role in mitigating and adapting to climate change, helping the move towards a low-carbon economy, and responding to the impacts of climate change.
Trading ahead of expectations at Ibstock
Ibstock, the manufacturer of clay bricks and concrete products, has hailed a “strong trading performance” in an update for its third quarter, ended 30 September 2022.
Trading is ahead of the Leicestershire-based firm’s expectations, which it says has been supported by robust demand and a resilient business model.
Ibstock’s board now expects FY22 performance to be above its previous expectations.
The company said: “Whilst remaining mindful of the uncertain macroeconomic environment, the resilience of our business model and the strength of our performance in the third quarter of the year give us confidence in the outlook for the full year. Accordingly, we now expect performance for the 2022 year to be above our previous expectations.”
Joe Hudson, Chief Executive Officer, said: “Our strong trading in the first half of the year continued through the third quarter, supported by robust demand across our end markets. We remain focused on serving our customers, through providing high quality, sustainable products and solutions to create much-needed homes and spaces across the UK.
“We are making good progress in line with the strategy set out in March, and have continued to invest in areas that support our plans to capture growth opportunities across both our existing markets and new, fast growth segments of the construction sector.
“Whilst we remain mindful of the elevated macroeconomic uncertainty, we now anticipate performance for the 2022 year to be above our previous expectations.”
Melton Building Society office refurbishment leads to huge furniture donation drive
Schools, community clubs, charities and businesses around Melton Mowbray have benefitted from a generous donation of thousands of pounds worth of furniture and electrical appliances courtesy of Melton Building Society, who are undertaking the major renovation of their Mutual House offices on Leicester Road.
As part of the clear out, a significant number of chairs, tables, storage units, desks, printers and other electrical appliances have been donated to worthy recipients including, Wreake Valley Academy and Birchwood School, where it is hoped that the staff and students will benefit from the extra equipment.
Local charity, Melton and District Money Advice Centre (MADMAC) were thrilled to receive some items of furniture to improve their office space.
Chief Executive of the charity, Amanda Heath, said: “We are so pleased with the furniture we received for our charity which has upgraded the reception area with a lovely leather settee and chair set. We also have new office chairs for all our desks which has made working so much more comfortable.
“We wouldn’t have been able to afford to buy these items ourselves, so all our staff, volunteers and clients will benefit from this wonderful donation.
“We were also able to bless some grateful clients with items such as fridges, microwaves and our old office chairs and sofa, which otherwise they wouldn’t be able to afford.”
At the end of the office clear out it’s hoped that all the items have been recycled and rehomed, limiting anything being unnecessarily sent to landfill.
Some items went to local independent businesses such as Stace Roofing, who in turn gifted a generous donation to the Melton Mowbray Building Society Charitable Foundation, which raises funds for charities and community activity in the Melton area.
Andrew Stace, Managing Director of Stace Roofing, said: “Stace Roofing Ltd are so very grateful to Melton Building Society for the generous repurposing of their office furniture.
“The tables, chairs, cabinets and meeting table will be put to good use in Stace Roofing’s new offices. It was a pleasure to donate to the MMBS charitable foundation. It’s good to give back.”
Rachel Kolebuk, chief customer officer at Melton Building Society, said: “We’re so grateful to see these items go to such great homes and we’re working hard to ensure that the furniture and devices being replaced during the refurbishment are recycled and go towards supporting the community as part of our drive towards environmental and social sustainability.”
Construction work gets underway on new public square at Becketwell Derby
Construction work is underway on a new multi-purpose public square which is being built as part of the £200m Becketwell regeneration scheme in Derby.
Developers St James Securities were joined by representatives from Derby City Council, D2N2, main contractors GMI Construction Group and other key stakeholders at a ground-breaking ceremony to mark the start of building works on Springwell Square, which will be located on the site of the former Central United Reformed Church.
Springwell Square will be the centrepiece of the £200m Becketwell development and is being delivered as part of phase one of the scheme. It will be adjacent to The Condor, 259 one and two-bedroom Build to Rent (BTR) apartments, which are being built on the site of the former Debenhams store on Victoria Street and have been forward funded, acquired and will be operated by Grainger plc, the UK’s largest listed provider of private rental homes.
It is envisaged that the square will be multi-purpose, but with a focus on interaction with adjoining buildings and as a place to pause and relax, rather than a formal civic meeting or gathering place.
Both the BTR apartments and Springwell Square are scheduled for completion by Spring 2023.
Phase two of the scheme will feature a new 3,500-capacity performance venue on the site of the former Pink Coconut nightclub, Laurie House offices, Pennine Hotel and multi-storey car park on Colyear Street, which will be operated by ASM Global, the world’s leading venue management and services company, and producer of live experiences.
It will be a fully flexible, scalable space capable of staging concerts, stand-up comedy, family shows, musical theatre, conferences, and exhibitions, along with a range of business events.
Construction work on the performance venue is set to commence in early 2023, with completion and handover to the operator in late 2024.
Future planned phases of the scheme include the potential for a range of other complementary uses of the site including new grade A offices and commercial space, a hotel and multi-storey car park and purpose-built student residential.
Commenting on the start of construction work on Springwell Square, Paul Morris, director of St James Securities, said: “We’re delighted to see construction work start on schedule on Springwell Square, the next stage of this landmark regeneration scheme for the City of Derby.
“Over the past five years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and putting together a scheme which will breathe new life into the area.
“Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space and will improve the vibrancy and attraction of the city centre.”
Cllr Steve Hassall, cabinet member for regeneration, decarbonisation, strategic planning and transport at Derby City Council, added: “We can see with the work that has already taken place exactly how significant a development Becketwell is for our city centre, with a new public square at its heart. We secured the funding for this scheme with an aspiration to make Derby a vibrant place where people want to live, work, and visit. We are now seeing that aspiration become a reality.
“We look forward to the next stages of the development, which will bring economic and social benefit to Derby’s residents and businesses. The performance venue will create hundreds of jobs, generate millions of pounds and kick-start further investment around the city centre.”
Andy Bruce, Divisional Managing Director at GMI, added: “Partnerships are vital to our success at GMI and we are pleased to have started work on this exciting development with St James Securities and Derby City Council.
“We understand the importance of community spaces and, being the centrepiece of the development, Springwell Square will provide a great opportunity for residents to come together and enjoy the green, outdoor space that it provides.”
Nottingham Castle Quarter office building snapped up
Family owned trading company, the RO, has acquired 37 Park Row in Nottingham. The building is a modern multi let office property situated in a prime position on the corner of Park Row and Cumberland Place in the heart of Nottingham’s historic Castle Quarter and was acquired from Mayfair Capital.
37 Park Row is fully let to the undoubted covenants of Nottingham City Council and Thompsons Solicitors LLP. The office building comprises 26,513 sq ft across four floors and has 21 secure car parking spaces.
The property is let off a low passing rent of £17.83 per sq ft with prime rents in Nottingham having now reached £25 per sq ft. Neighbouring occupiers include KPMG, Freeths, Eversheds and RBS. The property benefits from being adjacent to Mount Street NCP multi storey car park and is in close proximity to Nottingham’s principal retail pitch providing an extensive amenity offer.
Nick Cashmore, investment director, RO Real Estate, said: “We are delighted to complete the acquisition of 37 Park Row, Nottingham which represents another strong addition to the portfolio. The purchase is in line with our strategy to focus on buildings with quality fundamentals where there is potential to improve ESG credentials.
“The low average rent in the building twinned with the very limited Grade A office supply and development pipeline in Nottingham is an attractive dynamic. We continue to seek new additions to the portfolio in strong commercial locations with asset management and future development potential.”
David Kershaw, group real estate director, RO Real Estate, said: “We are very happy to have made this investment in Nottingham, one of the top ten fastest growing economies in the country outside of London, and which boasts high profile corporate occupiers such as Domestic & General, Boots, E.ON, Gateley, Specsavers, RSM, Experian, Siemens, Eversheds Sutherland, and KPMG.
“Nottingham has invested significantly in its infrastructure network, including a £150 million upgrade of Nottingham Station in 2018 and a £570 million extension of the NET Tram system, which has supported the expansion of businesses, cementing the city’s position as a core regional hub, and making it an attractive location for us to invest in.”
The RO Group was advised by JLL. Mayfair Capital was advised by CBRE.
Work begins on new multi-million-pound school in East Leake
Work has begun on a multi-million-pound project to build a brand-new permanent school in a Nottinghamshire village.
The Millside Spencer Academy is being built on former farming land on Rempstone Road in East Leake, as part of a £14 million investment in education in the village, led by Nottinghamshire County Council and its partners.
It is expected to open for the new school year in September 2023 and will eventually have a capacity for 315 primary places plus a 26-place nursery.
The new school – which will be run by Spencer Academies Trust and is being built in the heart of a new David Wilson Homes housing development called The Skylarks – has been planned as part of the County Council’s commitment to ensure children across Nottinghamshire are able to attend good and outstanding primary schools.
Students at Millside are currently being taught in a Temporary Learning Village, which has been provided by the county council and was opened last month, ahead of the new permanent building opening next year.
The new-build project is being sponsored by Spencer Academies Trust, designed and managed by Arc Partnership, and delivered through Arc’s construction partner Morgan Sindall Construction.
Sara Williams, head of pre-construction at Arc Partnership, said: “We are proud to be working in collaboration with Nottinghamshire County Council to design and manage the delivery of Millside Spencer Academy.
“From the start, we have been dedicated to providing an exceptional learning environment which can inspire and support more than 300 pupils.
“The school has been designed to be Net Carbon Zero in operation, incorporating sustainable elements to benefit both staff and pupils. This includes EV charging points and making the building 100 per cent electric through renewable energy sources.”
Sophia Thorne, principal of Millside Spencer Academy, says everyone at the school is looking forward to the new building opening next year.
She said: “Everyone in the Millside Spencer community is immensely excited about the completion of our permanent school in 2023.
“We are currently very much enjoying our Learning Village and the Forest School area with great views of the school being constructed.
“However, our new building will allow us to offer even more incredible opportunities, such as subject-specific learning areas, a whole school library, multiple outdoor play areas, and additional after-school clubs. We cannot wait!”
Richard Fielding, area director at Morgan Sindall Construction in the Midlands, said: “We believe that the spaces in which children learn have a huge impact on their future – our aim is to create modern learning environments pupils can be proud of and that will enable them to develop and grow. Millside Spencer Academy is a fantastic example of that, and we can’t wait to work with our partners to deliver the project.”
Key player in global space race moves to Space Park Leicester
An organisation which is pioneering the development of nuclear power sources for space exploration has moved to Space Park Leicester.
The National Nuclear Laboratory (NNL) is the UK’s national laboratory for nuclear fission and is working with academics and industry partners to develop spacecraft systems for the European Space Agency that provide reliable, long-lived power for harsh environments.
It has created a process to extract Americium 241 from plutonium and repurpose it as fuel for systems developed by the University of Leicester, with support from the UK Space Agency, for use in future space missions.
NNL’s work is helping to stimulate jobs and growth and is cementing the UK’s position as a scientific superpower.
NNL account director, professor Tim Tinsley, said: “With the opening of an office at Space Park Leicester, we are committed to deepening our collaboration with the University of Leicester.
“This builds on 10 years of successful joint projects, delivering on our shared ambition for deployable space nuclear power.”
The move has been welcomed by Space Park Leicester, which was created by the University of Leicester to provide an inspirational base for space researchers and businesses.
Space Park Leicester executive director, professor Ambrosi, whose own work focuses on space instrumentation and space nuclear power systems, said: “The synergies between the UK’s world class space and nuclear sectors are exemplified by the long-standing collaboration between the National Nuclear Laboratory and the University of Leicester in the development of space nuclear power systems and in particular radioisotope power technologies.
“We are proud to welcome the National Nuclear Laboratory to Space Park Leicester as part of our expanding collaboration and we look forward to exploring new opportunities with NNL.”
Council gives local business a lift with procurement strategy
New figures released by Nottinghamshire County Council have revealed that over 200 local businesses are providing services for the authority in contracts worth millions of pounds.
The council currently has contracts with 273 suppliers based in Nottinghamshire worth £135m.
Services provided by local suppliers for the council include catering, plumbing, and gardening.
Suppliers in Nottinghamshire make up 57% of the council’s total procurement contracts, with 39% from a local small or medium-sized business.
Councillor Richard Jackson, the county council’s cabinet member for finance, said: “It is great news we’ve been able to reach out to hundreds of quality local businesses to provide a range of services and tasks for our council.
“We always expect value for money, and the excellent services provided are a credit to the entrepreneurial spirit in our county.
“I’m especially pleased we have been able to engage so many local small businesses after a pandemic which caused countless challenges for our sole traders and entrepreneurs.”
The success at getting more local businesses onto the council’s supply chain comes from its 2019-2023 procurement strategy.
The strategy had called for 50% of contracts to be provided by local businesses.
The council’s Cabinet has now approved a new sustainable procurement policy to build on the work of its procurement strategy.
The new policy commits the county council to support thriving businesses and deliver environmental, social and economic benefits from its procurement choices.
Councillor Jackson added: “Our new sustainable procurement policy is crucial to our already existing procurement strategy and emphasises the social value of our contracts.
“When considering who will work for us in future, we’ll measure the environmental, social and economic impact of the procured goods and services.
“It will help build on the work we are doing with local businesses, for example, how we can use our procurement choices to get more young people out of work into a job.
“Of course, we will continue to spend taxpayers’ money wisely and support local communities through this new and exciting policy.”
Council looking to run national competition for major Mansfield housing scheme
Mansfield District Council is looking to launch a major competition inviting architects worldwide to design a significant new social housing scheme on a derelict site close to the town centre.
The Royal Institute of British Architects (RIBA) would manage the competition to find an outstanding design for Mansfield’s White Hart Street area.
The council purchased land in this area in order to facilitate the regeneration of this key town centre site. The area has stood derelict for over a decade now. It previously had planning permission for a mixed retail and residential scheme in 2008, but market conditions meant this scheme was never taken forward.
The area subsequently became blighted and has, as a consequence, become a magnet for anti-social behaviour. Redevelopment of this area would strongly align with the council’s Growth, Aspiration, Wellbeing and Place priorities.
Cllr Marion Bradshaw, portfolio holder for safer communities, housing and wellbeing, is now being recommended to approve a decision on 21 October about appointing RIBA to manage the competition.
Last year she approved a decision for the council to purchase parcels of land in the area so that the site, as a whole, could be redeveloped for council housing.
A budget of £16.5m for this was approved by Full Council in 2019 as part of the council’s programme to build over 100 council homes.
She said: “We want to improve this derelict and blighted part of Mansfield and see something really special on this piece of land.
“It must be a development which respects its historical significance and the conservation area in which it sits but also looks to the future. It also needs to be a development which is environmentally sustainable and mitigates climate change.
“It will promote a safe place to live and, crucially, it must reflect the council’s available budget for this scheme.
“The redevelopment would represent a vital element of the masterplan which we are in the process of putting together for the town centre to map out a future path for growth and regeneration.
“A key vision of that masterplan is to make the town centre a place where people want to live because this will increase the footfall for retailers and improve the look of the centre, all of which, in turn, should act as a catalyst for external investment.”
If approved by Cllr Bradshaw on 21 October, the RIBA-managed competition would cost the council a maximum of £79,000.
The council believes that having such an eminent organisation managing the competition would give the council access to the RIBA’s global membership and attract high-quality design responses.
Having RIBA on board is considered critical in the eyes of many architects and would also bring rigour, credibility and prestige to the selection process, and reassurance that the competition would be managed to best practice standards.
It would also help to ensure the whole process of redeveloping the site is structured and auditable.
Cllr Bradshaw added: “Running a RIBA-approved competition would promote the district of Mansfield nationally and internationally and demonstrate that, as a town, it is progressive in its aspirations and open for business. It would bring with it a real atmosphere of excitement.”
The firm winning the competition would progress the design for planning permission – subject to approval by the Full Council of the business case.
The area to be redeveloped is located within the Bridge Street conservation area which contains buildings of historic and architectural merit. The homes built are expected to be a mix of housing types and would be added to the council’s stock of affordable homes.
It is anticipated the design competition would run between November 2022 to March 2023, with a decision on the winner made in April 2023.
After that, a detailed design would be drawn up, with a decision on the business case expected in September 2023.
If that business case is approved, it would be followed by a planning application in October 2023. If that is approved, demolition work could start in early 2024 and building work in July 2024.
FHP secures investment sale of Mansfield unit
FHP have secured another successful deal within Mansfield with the investment sale of Soak Interiors to a local occupier, achieving a net initial yield of 7.76%.
The unit comprises 4,715ft² of warehouse, office and ancillary space with a generous yard area. It occupies an elevated position on Rock Valley, just off the Mansfield Inner Ring Road.
FHP said the strong level of interest received on the property shows the freehold / investment market is still going strong despite the current economic uncertainties.
Amy Howard, surveyor at FHP Property Consultants, said: “It was great to see this deal cross the line for both parties who are now starting a new exciting chapter.
“The amount of interest received on this property from day one was great to see, and we managed to receive several credible offers at the asking price. It is reassuring to see that the demand is still there for the sub-5,000ft² freehold market.”
East Midlands Chamber and De Montfort University KTP associate wins national award for using data to drive inward investment
A data engineer who has created a regional business research and intelligence unit that will be used to drive more investment into the East Midlands has won a national award.
Harsh Shah, a knowledge transfer associate based at East Midlands Chamber, beat competition from 20 other finalists to be crowned with the Future Leader Award at the Innovate UK KTP Awards.
As part of the 27-year-old’s role, which was created last year in a knowledge transfer partnership (KTP) between the chamber of commerce and De Montfort University (DMU), Harsh creates data-driven insights about the East Midlands economy that can be used to improve competitiveness and productivity across the region.
Harsh, who graduated from a DMU master’s degree in business intelligence systems and data mining in 2020, said: “I am overwhelmed to win this award, which is wonderful recognition for all the hard work we have been doing at the Chamber and DMU in establishing a regional business intelligence unit.
“I believe my drive, passion and integrity to be the best has enabled me to be recognised at national level and this is a fantastic personal achievement. It was never something I believed would be possible 18 months ago when I began the KTP, which has already accelerated my career prospects.
“It gives me great confidence to not only perform better in my role, but also highlights the work we are doing and validates the project – which aims to equip business leaders and policymakers with data-driven insights that will improve decision-making and ultimately drive more investment to the region.”
The Future Leader Award is given to associates who have shown “exceptional skills in driving and delivering innovation strategy, demonstrating great teamwork and outstanding leadership potential”.
Harsh began the two-year KTP in April 2021 with a goal to create a business research and intelligence unit that collates, analyses and utilises data-led intelligence in order to address the productivity gap and lack of inward investment across the East Midlands.
During this period, he has automated the Chamber’s Quarterly Economic Survey – which gauges the health of the region’s economy across a number of indicators – and provided personalised results for participants.
Harsh also developed dashboards for a collective intelligence skills observatory (CISO) for Leicestershire as part of a trailblazer pilot for the Department for Education’s Local Skills Improvement Plan, which aims to put employers at the heart of skills delivery. The observatory enables businesses and further education colleges to better understand where skills gaps lie locally in order to improve training and education provision.
At the same time, he has presented at a national data strategy event hosted by Experian, developed reports used by regional media outlets to illustrate economic trends, and taken part in the Alan Turing Institute’s Data Study Group to resolve challenges for Siemens and Rolls-Royce, where he won the Data Driven Approach award for his enthusiasm and determination.
Chris Hobson, director of policy and external affairs at East Midlands Chamber, said: “Harsh is a hugely deserving recipient of the Future Leader Award after demonstrating tremendous leadership skills in turning an idea into a commercially viable product, while also showing a real eagerness to immerse himself into the organisation and a commercial environment.
“More broadly, this recognition also helps us to demonstrate the power of data in business decision-making, as we firmly believe the insights we are creating will bring tangible rewards for the East Midlands economy by improving productivity and attracting inward investment.”
New appointment strengthens team at Mineral Products Qualifications Council
The Mineral Products Qualifications Council (MPQC) has appointed a new member of staff to help the sector connect with younger audiences by championing the diverse career opportunities within the quarrying and mineral products industry.
Emily Noble joins MPQC as its future careers manager at its Eastwood offices near Nottingham. She is a qualified and experienced career development practitioner and careers advisor, with previous roles at D2N2 Local Enterprise Partnership, Derby College and Derby City Council.
Viv Russell, CEO of the Mineral Products Qualifications Council, says: “Emily has a great deal of experience from her previous job roles and qualifications; it’s clear that she is passionate about raising the aspirations of young people.
“MPQC is looking forward to benefiting from Emily’s experience, expertise and enthusiasm as she champions our sector. We wish her luck and are delighted to welcome her to our team.”
Emily’s new challenge at MPQC involves raising the profile of the sector and inspiring young people to become the next generation of mineral products professionals. She will form part of the team leading the ‘Minerals Matter’ initiative, working in collaboration with sector organisations to increase participation of industry ambassadors within education, and develop strategic partnerships to support and target key projects more effectively.
Commenting on her new role, Emily said: “I grew up in Derbyshire with family employed locally within the mineral products industry and saw first-hand some of the challenges faced by SMEs in the area. I’m looking forward to supporting industry and education to collaborate more meaningfully, and create impactful opportunities for young people, particularly from an earlier age if we are to create lasting change for the sector when it comes to future recruitment.”
Emily achieved her Master’s Degree in Career Education and Coaching at the University of Derby. She is a Member of the Career Development Institute, as well as a registered Career Development Practitioner. In her spare time, she enjoys clay pigeon shooting, walking and spending time with her husband and daughter.
Established in 1983, the Mineral Products Qualifications Council is a ‘not for profit’ membership organisation whose purpose is to fulfil the extractive sector’s need for a safe, competent and sustainable workforce through the setting and maintaining of standards and qualifications, ensuring quality training and assessment.
Work starts on site to provide 148 new homes in Wellingborough
Work has started on national housing association Stonewater’s development of 148 new homes at Glenvale Park in Wellingborough, forming part of a larger urban extension of around 3,000 new homes to the north-west of the town.
Of Stonewater’s 148 new affordable homes, 74 will be available for social and affordable rent. There will also be 35 new homes available for shared ownership, and 39 being offered through the Rent to Buy scheme, allowing customers to rent a home at 80 per cent of the market rent, whilst they save towards a deposit and after five years, buy their own home.
Glenvale Park is a brand new neighbourhood for Wellingborough. It brings together six housebuilders who will each develop a parcel of land. Plans also include two new primary schools, a community hub, local shops, and green spaces for new residents and the local community.
Wellingborough has seen a recent increase in affordable homes being built year on year, with Stonewater’s new homes contributing to a total of 675 affordable homes at Glenvale Park, bridging the gap between the provision of, and demand for, affordable housing.
Stonewater has acquired the land and has contracted with Partner Construction to deliver the new homes, a mixture of houses and apartments, and will be supported by Ridge as Employers’ Agent. The project will utilise over £7m of Homes England funding.
Sustainability is a key focus of the site, aligning with Stonewater’s own ambitious low-carbon and energy-efficiency commitments. The houses will be fitted with air-source heat pumps that will ensure lower carbon emissions, and the site will also incorporate electric vehicle (EV) charging points.
As well as including additional trees within the development there are also plans to incorporate public art around the site, with the hope of engaging with the new community to assist with creating a sense of place through public art. It is expected that work will be complete by June 2025, with the first homes ready for occupation in Autumn 2023.
Chris Montague, director of development (East and North) at Stonewater, said: “We are thrilled to be starting work on this exciting new development, and to be providing such a large number of much-needed affordable homes for customers in Wellingborough.
“The variation of housing we’ll be providing at Glenvale Park will offer great choice for customers looking for a safe, sustainable and affordable place to call home, and I look forward to seeing work progress on our homes within the site.”
Geoff Brown, project manager, United Living New Homes, said: “We are delighted to have started building work at Glenvale Park. Working collaboratively with Stonewater and our delivery partners, we look forward to delivering high-quality, affordable new homes that will provide a welcome housing boost to the local community.”
