The administrators of Market Harborough retailer Joules are on the cusp of a rescue deal with The Foschini Group, according to reports from Sky News.
The South African group, which owns brands such as Phase Eight and Hobbs, is said to be in advanced talks to take on three-quarters of Joules’ shops.
Hundreds of jobs, however, could be lost with the closure of the remaining stores.
The news comes after reports earlier this month indicated The Foschini Group had been in discussions with Joules for several weeks – ahead of it appointing administrators – with an offer of investing in the business in return for a substantial stake.
Will Wright, Ryan Grant and Chris Pole from Interpath Advisory were on Wednesday 16 November named joint administrators of Joules Group plc and Joules Limited.
At the same time, Will Wright and Ryan Grant were appointed joint administrators of Joules Developments Limited and The Garden Trading Company Limited.
Joules is one of the UK’s best-known retail brands, renowned for its premium, colourful clothing and homewear products, inspired by country living. Headquartered in Market Harborough, the group currently operates a total of 132 stores across the UK, employing over 1,600 people.
According to Sky News, a deal could be struck as soon as Wednesday.
Following the recent announcement by Nottingham Castle Trust (‘the Trust’) that it was taking steps to place the Trust into liquidation, Tim Bateson and Chris Pole from Interpath Advisory were formally appointed as joint liquidators to the Trust on 29 November 2022.
The Trust is an independent not-for-profit charitable trust which managed and operated Nottingham Castle on behalf of Nottingham City Council. The popular tourist attraction in the heart of Nottingham city centre comprised historic caves, museum and exhibition galleries, welcoming over 100,000 visitors through its doors in the period since Summer 2021.
The Castle had recently undergone a programme of significant renovation and refurbishment works, and while visitor numbers were rebounding steadily following reopening in the summer of 2021, volumes were still below forecasts, which placed pressure on cashflow.
While the Trust was in active discussions with stakeholders to secure additional funding, these discussions were ultimately unsuccessful. After considering their options, the Trustees took the decision to seek the appointment of the joint liquidators. The Castle closed its gates to the public on 20 November 2022.
In addition, on 28 November 2022, Tim Bateson and Chris Pole were appointed joint liquidators to Nottingham Castle Services Limited, the 100% subsidiary of the Trust which undertook all non-charitable activities including retail and catering operations.
As a separate legal entity which solely operated in the grounds of the Castle, the Directors of Nottingham Castle Services Limited concluded that following the closure of the Castle to visitors, there was no viable alternative to liquidation and made an equally difficult decision to take the necessary steps to appoint joint liquidators.
The majority of the employees of the Trust were made redundant in advance of the appointment of the liquidators, and all remaining staff have been made redundant with effect from today.
Tim Bateson, director at Interpath Advisory and joint liquidator, said: “Dating back to the time of William the Conqueror, Nottingham Castle has been at the heart of the city for centuries, bearing witness to civil wars, royal coups, fires and floods. As a modern-day museum, it has helped to preserve the cultural heritage of Nottingham, hosting tours, exhibitions and supporting local schools and community projects.
“Immediately following our appointment over the Trust, we disclaimed the various leases and operating agreements back to Nottingham City Council. Whilst the Castle is now back under the control of the Council, we will be working proactively with them over the coming weeks to ensure that there is a smooth handover to give them the best possible chance of being able to reopen the Castle at the appropriate time.
“We will also be providing support and assistance to the employees to enable them to claim any outstanding statutory entitlements which they are due, as well as working to realise the remaining assets.”
No refunds are able to be made in relation to advance tickets, annual passes or booked events, but individuals in this position should notify the liquidators of any amounts that they are owed by writing to nottinghamcastletrust@interpathadvisory.com.
Custodian REIT has disposed of a 16,941 sq ft office property in Leicester for £2.8m, in line with its most recent valuation.
Richard Shepherd-Cross, Managing Director of Custodian Capital Limited (the Leicester-based company’s external fund manager), said: “This asset was acquired as part of the company’s IPO portfolio in 2014.
“It has been fully let since, delivering an average yield of 9% per annum but has seen no rental or valuation growth over our period of ownership and this trend is expected to continue.
“We expect to invest the sale proceeds in the company’s remaining assets which have greater prospects for income and capital growth, better supporting the Board’s objective of increasing dividends in a sustainable way and enhancing the portfolio’s environmental credentials.”
Chesterfield College and the University of Derby have been appointed as the training provider for the new Construction Skills Hub in Mastin Moor, which is set to provide specialist training for thousands of learners as part of the Staveley Town Deal.
The innovative Construction Skills Hub will provide a practical platform for construction training, careers activity and work experience on a live construction site in Mastin Moor.
Over ten years, the hub aims to provide training, careers insights, and work experience for over 5,000 learners.
Councillor Amanda Serjeant, Deputy Leader of Chesterfield Borough Council, said: “It’s fantastic to be able to announce that the college and university will be working together to support this project. As well as providing support for trade skills, this partnership provides the opportunity to progress to a university level and develop the skills needed for roles like quantity surveyor or estimator, ensuring that everyone in Staveley can start, stay, and grow in the town.
“I look forward to working with them and our partners the Devonshire Group to progress the development of the Hub and start welcoming learners in Autumn 2023.”
A site has already been identified for the Construction Skills Hub in collaboration with the Devonshire Group, which will be bringing forward a new housing development in Mastin Moor. This will allow trainees to develop their skills on a live housing site, and in time there will also be opportunities to gain experience on other Staveley Town Deal construction projects.
Andrew Byrne, Property Development Director for Devonshire Group, said: “When I first saw the concept of a Construction Skills Hub and was asked if we could help deliver one for Chesterfield, my resounding response was yes, and I know just where.
“Devonshire Group are deeply committed to offering opportunities for learning and skills development, and to making a real difference to the lives and employment prospects of those in our communities, so we are delighted to be able to assist the Council in providing a home for the Skills Hub. Supporting the next generation of people who will help create our built environment is something to be truly proud of.”
Initially the Skills Hub will provide training in site and bench joinery, brickwork, ground works and electrical installation but in time the offer will expand to include training in retrofit and green technologies. It will be open to school leavers and other residents seeking to train or retrain.
Gavin Varley, Director of Advanced Engineering, Building Technologies and Construction at The Chesterfield College Group, explains: “We make a commitment to our students to not only provide them with the skills and qualifications they need, they are just the start, but with the work experience and industry knowledge that gives them the clarity of how and where to progress their career for years to come. We’re delighted to be a partner of this project as it comprehensively addresses this wider student experience, we commit to providing for all.”
Professor Chris Bussell, Pro Vice-Chancellor Dean of the College of Science and Engineering at the University of Derby, said: “We are delighted to have been appointed the training provider, alongside Chesterfield College, for the new Construction Skills Hub, which will provide real-world learning opportunities to thousands of people looking to embark on a career in the construction industry or develop their skills so they can progress onto new roles.
“The Hub will enhance the existing construction training offer by providing the opportunity for local learners to develop their skills in a live on-site centre. Our ambition is for this to be ground-breaking, delivering a model that builds on the innovative approach of other such centres, and we are looking forward to developing our relationship with Chesterfield College as well as working with prominent private sector companies on this exciting project.
“As a Civic University, we are committed to supporting the city and county’s long-term economic growth and prosperity, improving the life chances of people, developing a pipeline of talent that choose to live and work in the area, and addressing the skills gap through our involvement in initiatives such as the Construction Skills Hub.”
Working on a live construction site will not only allow learners to develop the skills they need, but it will also provide practical experience and help provide a link to construction companies where they could find permanent roles.
Staveley is set to benefit from £25.2 million of investment through the Town Deal with the aim to create a town where everyone can start, stay and grow. This investment will support eleven different projects across the town and provide a once in a lifetime opportunity to help shape the future by improving transport links, creating new housing, providing skills for local people, enhancing community facilities, and regenerating the town centre.
Business confidence in the East Midlands rose three points during November to 12%, according to the latest Business Barometer from Lloyds Bank Commercial Banking – conducted between 1st-15th November, before the Chancellor’s Autumn Statement announcement on Thursday the 17th November.
Companies in the region reported lower confidence in their own business prospects month-on-month, down three points at 19%. When taken alongside their optimism in the economy, up 10 points to 5%, this gives a headline confidence reading of 12%.
East Midlands businesses identified their top target areas for growth in the next six months as evolving their offering (38%), investing in sustainability (35%) and investing in their teams (35%).
The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 22% of East Midlands businesses expect to increase staff levels over the next year, up six points on last month.
Overall UK business confidence fell five points during November, but remained positive at 10%. Firms’ outlook on their future trading prospects was down two points to 25%, and their optimism in the wider economy dropped four points to -2%. Despite a seven-point dip, UK businesses remained positive about hiring intentions with 14% of firms aiming to create new jobs in the next 12 months.
All UK regions and nations, apart from the South East, reported a positive confidence reading in November, with seven recording a month-on-month increase in confidence. Of those recording an increase in confidence, Scotland (up 19 points to 24%), Wales (up 12 points to 17%) and the South West (up nine points to 5%) saw the largest monthly changes, with Scotland now the most optimistic overall.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “It’s great to see confidence among East Midlands firms back on the rise this month, despite the many challenges they continue to face, not least with ongoing supply chain issues and difficultly accessing the skills they need.
“As businesses look ahead to the New Year, many are primed to invest in sustainability to drive growth, with more than a third in the region listing this as one of their top priorities for the coming months. We’re here to help as businesses look to unlock the opportunities that Net Zero can bring.”
Business confidence in retail increased to 15% (up from 9%), perhaps reflecting a renewed confidence in trading prospects ahead of the festive season. However, business confidence in the manufacturing sector fell for the sixth month in a row, to 4%, down 9 points, the lowest confidence level since early 2021. The construction sector held gains made in October, remaining unchanged at 20%, although this level still remains weaker than in the first half of the year.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “Given the recent political and economic landscape, it comes as little surprise that economic optimism and business confidence have fallen this month. Pay growth expectations remain high by historical standards, which could signal ongoing difficulties ahead for businesses to fill vacancies. Looking ahead, it will be interesting to see if the clearer policy picture provided by the Autumn Statement will lead to business confidence moving in a more positive direction as we go into 2023.”
Local businesses employing over 32,000 workers across the region have given a seal of approval for proposed improvements to the Coventry-Leicester-Nottingham rail route.
Midlands Connect conducted a business survey last month that showed staff at 70% of the local businesses surveyed mostly travel to work by car, with staff at a further 17% mostly commuting to work via train. However, 66% of local businesses surveyed said if the train line between Coventry, Leicester, and Nottingham is reconnected, employees would use it more.
Businesses thought the proposed improvements would benefit their operations, with 82% of firms saying it would make it easier to recruit, 73% expecting it would allow them to meet new customers, and 61% believing it would help their business to grow.
Of the businesses surveyed, 93% stated they and their employees would benefit from Coventry, Leicester and Nottingham being more closely connected, and 95% said reconnecting the rail line and improving local train service would support the Government’s Levelling Up agenda.
Midlands Connect’s plans would reinstate direct rail services between Coventry, Leicester and Nottingham for the first time in two decades, creating over 2 million extra seats on the region’s rail network every year.
The improvements would introduce two new trains each hour, also calling at Loughborough and East Midlands Parkway, alongside plans to improve line speed along the route, making journeys faster.
Currently, passengers travelling along the corridor have to get off one train at Nuneaton station, change platforms and board another, culminating in a slow, inconvenient service. Because of this, just 3% of trips between Coventry and Leicester are made by rail, compared to 30% of trips between Coventry and Birmingham, which enjoys a regular, fast and direct rail connection.
Commenting on the survey, Andy Clark, senior rail programme manager at Midlands Connect, said: “The results are overwhelming and show that businesses in Coventry, Leicester & Nottingham want to see improved rail services. They see this investment as an example of levelling up their area and helping their economy to grow.
“What the survey also showed is faster and more frequent trains will save businesses money, allow them to recruit more people and grow.
“We will use these results as part of our strategic case for investment in the corridor and I want to thank all the firms and organisations who took part in the survey.”
Sir Peter Soulsby, Leicester’s City Mayor, welcomes this enormous show of support from the business sector for direct trains again linking Coventry with Leicester. He added: “The survey results add to the already overwhelming case to reconnect the railway between these two major cities and help to reduce the reliance on the car.
“This project is important to both the local and regional economies and the Government is urged to press on with project development work as a priority within their rail programme.”
Sales have dropped at Wilko, while the firm has slipped to a pre-tax loss in its latest financial year, ended January 29 2022, as the pandemic continued to hit the Nottinghamshire retailer.
Sales reduced by £42m to £1.2bn, while profit before tax declined by £44.2m from £5.5m in the year prior to a loss of £38.7m.
Wilko noted that is has faced continued challenges to its trading environment, with the COVID-19 pandemic leading to a national lockdown in the first quarter of the financial year and the emergence of the Omicron variant during the final quarter of the year, meaning footfall was significantly impacted during its peak trading period.
The company says it was also hit by the severe and widespread disruption to supply chains globally, and resource shortages at its distribution centres.
With a difficult backdrop, Wilko’s directors are said to be satisfied with the results.
The annual results follow reports in The Times that the business is in talks to land an emergency loan as cost pressures grow for retailers as we approach Christmas, and Wilko agreeing a sale and leaseback deal with DHL at its Nottinghamshire distribution centre to unlock £48 million.
A development of 15 new homes for local people to rent or on a shared ownership basis has been completed on time and within budget by specialist affordable housing developers, MyPad.
Working on behalf of Futures Housing Group, MyPad has officially handed over the £2.5 million development on the corner of Nottingham Road and Cemetery Road in Stapleford.
Tom Spinks, director of MyPad, which is based in Beeston, explained: “This development has seen the transformation of a long-time vacant builders’ yard in Stapleford into affordable housing for the benefit of local people in the Broxtowe area.
“The demand for good quality affordable housing continues to grow and this is the latest development in our workstream to provide a complete service for registered providers and local authorities from land acquisition right through to the build.
“We are delighted to have handed over the development on time and within budget and look forward to seeing local families settle into their new homes in the near future.”
The mixture of two and three bedroom homes will be made available for people on Broxtowe Borough Council’s waiting list for council housing.
Ryan Dawson, Head of Planning and Economic Development at Broxtowe Borough Council, concluded: “Broxtowe Borough Council’s Planning department is pleased to finally see that this site has been brought forward for housing after years of trying to mediate its development.”
Upperton Pharma Solutions, a contract development and manufacturing organisation (CDMO), has appointed T-SQUARED as the Principal Design and Build contractor for its new Development and GMP Manufacturing headquarters in Nottingham.
The new site will be built at the recently opened Trent Gateway Business Park in Beeston, situated less than two miles from Upperton’s current headquarters in Albert Einstein Centre, Nottingham Science Park. The 50,000 ft² facility marks a significant expansion for the company and will incorporate ten new GMP manufacturing suites, Quality Control laboratories and dedicated Analytical and Formulation Development laboratories including Pilot Plant facilities.
The appointment of T-SQUARED as the principal contractor is a hugely important milestone for the new site development project, which is expected to complete towards the end of 2023.
Upperton CEO, Nikki Whitfield, said: “Our new state-of-the-art facility is being built to satisfy our increasing customer demand to extend our service offering further along the drug development pathway.
“The design and build of a site that can meet our clients’ requirements from a complexity, scale and potency perspective, whilst meeting all the necessary regulatory requirements, is an exciting but significant project therefore we are delighted we have been able to appoint industry leader T-SQUARED to partner with us on this task.’’
The Trent Gateway site will have the capability to develop and manufacture a range of dosage forms including oral solid dosage forms, liquids, semi-solids, nasal and inhaled products, allowing it to support early formulation development and provide clinical trial supplies from Phase 1 to Phase 3. The GMP facility layout, equipment and containment capabilities have also been designed to align with larger scale process trains, supporting batch scales of up to 250kg.
Business start-ups in the East Midlands have hit a high in October with a month-on-month rise of 10.9%, one of the UK’s highest regional increases, according to the Midlands branch of national insolvency and restructuring body R3.
R3’s findings, which are based on data from business intelligence provider Creditsafe, reveal that new business registrations rose to 2,251 in October from the previous month’s figure of 2,030, a percentage increase exceeded only by Yorkshire & Humberside, the North East and Wales.
The East Midlands’ October start-ups figure is also a 2.4% increase on the number of new companies registered in the region six months previously.
Despite this growth in entrepreneurship, R3’s analysis indicates that late payments could pose a sizeable challenge to new companies, as well as to their longer-established counterparts. The data shows that, in October, the East Midlands had 27,077 companies with customer payments past their due date, a figure which has risen steadily in recent months.
R3 Midlands Chair Eddie Williams, a partner at PwC in the East Midlands, said: “These statistics highlight the effect that over two years of economic turbulence have had – and continue to have – on our local businesses.
“The growth in start-ups is most definitely a positive – a trend which is likely to have been driven by those who were furloughed or made redundant during the pandemic and who have decided to venture out on their own. This is an encouraging sign of entrepreneurialism and enterprise resilience in our region.
“However, this growth is being severely threatened by current market conditions, which include a perfect storm of spiralling inflation, contracting economies, steep rises in fuel, energy and wage costs, and dwindling consumer confidence. Late payments will only exacerbate these challenges facing local businesses.
“Our advice to any director who is worried about the viability of their business, start-up or otherwise, is to seek professional help and to do it as soon as possible. The sooner support is sought, the more opportunities there may be to assure a company’s survival and future success.”
Wattbike, the Nottingham-based elite exercise equipment manufacturer, has partnered with Praetura Commercial Finance to help fund its ambitious global expansion plans.
The agreed £3.25m asset-based lending facility will help the team invest in its Hub App to further enhance the health and fitness of every Wattbiker, which works in tandem with its indoor exercise bikes, as well as target key global territories in the North America and Asia-Pacific regions.
After launching in 2008, Wattbike has seen unprecedented growth, securing its position as the indoor exercise bike of choice for the world’s leading sports teams, athletes and coaches, British Cycling, Manchester City and cycling fanatics across the UK.
As the only exercise bike endorsed by British Cycling, Wattbikes are now used by over 1,000 professional sports teams and 500 Olympic medal winners. The team has sold over 100,000 bikes, with over 240,000 sessions uploaded per month. Piper, the leading specialist investor in consumer branded businesses, invested £11.5m into Wattbike in September 2020.
Wattbike was born out of elite sport, transcending into the commercial fitness industry and consumer fitness sector. Since then, the business has won significant commercial contracts in the health & wellbeing, education, professional sport, military & uniformed services, medical and hospitality sectors with contracts signed with David Lloyd, the England football team, Hilton Hotels and the British Army. Most recently, Wattbike has become an official supplier to New Zealand’s rugby squad, the All Blacks.
The pandemic created significant challenges for Wattbike. From severe surges in demand to skyrocketing supply costs, the team navigated a series of unprecedented changes. Wattbike’s business model has been stress tested and has emerged more adaptable, entrepreneurial and resilient.
As a breakout UK entrepreneurial success story, the Wattbike team has been on an unexpected journey of rapid growth. The team now only chooses partners and suppliers who understand the vision and remain flexible to the business’s needs in an increasingly unpredictable environment.
Richard Baker, CEO at Wattbike, said: “We are fiercely proud to have built a business that is chosen by the world’s best teams and athletes. This has enabled us to continue to scale our brand, product and services into the consumer and commercial markets, domestically and internationally.
“We are excited about the future as we progress through the next phase of our plans: building a more accessible brand, products and digital services with the mission of improving the health and performance of every Wattbiker, with the continued support of Piper and new funding from Praetura Commercial Finance.
“Praetura’s ability to get in and understand the business quickly, see the opportunity and create ways to unlock finance options for Wattbike made them a natural partner.”
Stuart Bates, commercial director of Praetura Commercial Finance, said: “Helping a best-in-class business like Wattbike achieve its goals is why we started Praetura. Spending time with Rich and the team, hearing how they’ve built one of the most noteworthy brands in elite sport and helping design a funding solution that supercharged their strategy for the future were a real privilege.
“Needless to say, the Praetura team includes a few cycling fanatics who are evangelical about Wattbike’s products. You can see the passion Wattbike’s team put into its bikes and the fitness community that develops around them. We look forward to working with the team again in future and wish them every success.”
The deal was managed by Henry Wheeler at Praetura and introduced by Adam Simpson from Silkstone Consultants.
Loughborough Sport’s long-standing partnership with Computacenter has been extended.
The partnership will see Computacenter continue to support elite-level female and Para sport programmes as named sponsors of the Loughborough Cycling Academy, Loughborough Lightning Netball, and Loughborough Lightning Wheelchair Basketball.
This new agreement will also see the independent technology business further embed the very best of Loughborough’s performance sport expertise and education programmes into their organisation.
Computacenter will also aim to recruit top quality Loughborough students into their award-winning graduate training schemes alongside utilising Loughborough’s expertise in executive education courses for their current employees.
Craig Cobb, Future Talent Manager UK for Computacenter, said: “The Loughborough Partnership is important to Computacenter because it allows us to have a strong connection with an elite student base which ensures our intake of talent remains of the highest quality.
“We also benefit greatly from their coaching and mentoring which we use to help shape our recruits attitude and approach to working in sales, prioritising a healthy balance of a winning mentality, understanding the importance of preparation and focusing on healthy habits to allow them to perform at their best.”
Through inspiring leadership talks and practical performance testing, Loughborough are transferring their high-performance knowledge to benefit Computacenter’s highest-performing executives.
Jo Simpson, Commercial and Facilities Director for Loughborough Sport, said: “I am incredibly proud of the partnership we have developed with Computacenter, as an organisation they deeply align with our core values.
“This ground-breaking relationship supports our female and Para sport programmes and highlights the innovative and forward-thinking approach Computacenter take to their business and employees.
“I look forward to working with the team at Computacenter as we continue to bring our organisations ever closer together.”
Clare Parry-Jones, Managing Director, UK & Ireland for Computacenter, said: “We are delighted to continue our partnership with Loughborough Sport and are incredibly proud of what we have achieved over the last few years.
“The opportunity to hear inspiring stories from their elite athletes as well as take guidance from their superb coaching teams has really helped us to shake up how we educate our employees to benefit both their work and their personal lives.
“Supporting a wide range of sports means we’re able to impact success across a diverse group of people and support their careers as they strive for excellence – a value we mirror here at Computacenter. I’m incredibly excited to see what further success this partnership holds for us all.”
OakNorth Bank has provided a loan to Cottons, the independent chartered accountants & business advisors.
The capital from OakNorth Bank will refinance existing acquisition debt, support the firm’s acquisition programme of accountancy practices – including Roberts & Co. and J R Watson & Co – and provide a tailored facility for future unidentified acquisitions.
Headquartered in Northampton, Cottons is a fully regulated member firm of the Institute of Chartered Accountants in England & Wales, providing c.10,000 customers, including freelancers, contractors, SMEs, and large corporations, with expert business, taxation and accounting guidance.
Established in 1983, the firm has scaled to over 100 employees across offices in its Northampton HQ, as well as Rugby, Daventry, Milton Keynes, Market Harborough, and London.
Will Smart, managing partner of Cottons Group, said: “At Cottons, our people and our personalised approach are our greatest assets and we’re committed to offering our clients reliable, first-class service at every step in their business journey.
“This bespoke debt facility from OakNorth will help propel Cottons forward, as we look to continue scaling the business further through acquisitions, helping us to build upon our well-established branch network and strong long-term relationships with clients.
“OakNorth’s ability to create a truly bespoke package that provided all our funding under one facility has been invaluable.”
Dale Cowdell, associate director of debt finance at OakNorth Bank, added: “Cottons is a well-established and well-respected, full-service accountancy practice, that has a strong focus on quality and a personalised approach. As the firm prepares for the next chapter of its growth journey, we’re delighted to play a part in its push forward for further acquisitions.
“With the accounting and auditing market set for significant growth over the next five years, driven by factors such as increasing M&A activity, Cottons is in a perfect position to capitalise on this opportunity. We look forward to supporting them again in the future.”
The former headquarters for Nottinghamshire Fire and Rescue Service has been put on the market for sale. Agents Bishop Property Consultants and Salloway Property Consultants have been appointed to dispose of the property.
The premises are situated adjacent to Bestwood Country Park and the Bestwood Lodge Hotel and occupy a 12-acre site. There is an extensive range of buildings comprising approximately 37,000 sq ft of accommodation all of which are located on approximately 4 acres. The remaining site-area of 8.00 acres is attributed as playing fields.
In September, outline planning permission was granted for the demolition of the existing buildings and the erection of up to 32 residential units.
The agents are anticipating significant interest, not only from house-builders looking to take advantage of the planning permission but also from other organisations who might wish to re-purpose the existing buildings.
Chris Keogh, associate director at Salloway Property Consultants, expects the property to be popular. “The site is in a unique location and is surrounded by mature trees. It has obvious redevelopment possibilities and benefits from planning permission.
“I am sure people would love to live in this location – highly convenient and yet having a semi-rural feel – and there will be no shortage of house-builder looking to take advantage of the demand.
“However, the existing buildings on the site are in reasonable condition and I could not rule out interest from institutional buyers for uses such as training, healthcare, educational facilities, or offices.”
The site will be sold by informal tender with further details available through the joint agents upon request.
Sound accounts for 50% of a video and it’s well known in the video production industry that audio quality is even more important than visual quality, as far as ‘viewer retention’ is concerned.
While low-grade footage is far from ideal, a poor quality audio mix will comparatively turn off even more viewers. Bad sound detracts from your message – potentially rendering it impossible to understand – and can be simply unbearable for the viewer, who may consequently associate your company with low quality.
There is a direct correlation between how good your advertising videos are, in terms of production standards, and how the viewer therefore feels about the professionalism of your business.
Despite already offering great visual and audio quality in their promotional videos for businesses, Glowfrog Video Production have now taken this a step further, by hiring a dedicated in-house sound engineer. This is because they pride themselves on the premium-grade video content they produce for businesses across the Midlands and they’re always looking for ways to increase that quality even further.
Will Emmerson is the new sound engineer at Glowfrog
BSC Sound Engineering graduate of the BIMM Institute, Will Emmerson, will now be mixing and mastering audio for all video projects going forward.
Great sound is an underestimated yet very important factor within your advertising videos. If you want to optimise your video marketing with exceptional production standards, enquire today at www.glowfrogvideo.com.
Topps Tiles, the Leicester-based tile specialist, has posted its second consecutive record year of revenue.
In unaudited annual financial results for the 52 weeks ended 1 October 2022, the firm hailed strong recovery from the Covid period, trading ahead of 2019 levels.
Group revenue was up 8.4% to £247.2 million, adjusted profit before tax grew 4% to £15.6 million, while statutory pre-tax profits dipped 22.1% to £10.9 million.
Rob Parker, Chief Executive, said: “We are pleased to have delivered a year of strong strategic progress, with record sales for a second year running and excellent delivery against our ‘1 in 5 by 2025’ market share goal. We are continuing to develop and diversify the group and further strengthening our position as the UK’s leading tile specialist.
“Within our Topps Tiles brand, where the majority of sales are being made to professional tradespeople, our focus on fewer more profitable stores and category extensions has driven sales per store up 25% since 2019. Parkside, our commercial brand, has delivered a record year of sales and now moved into profit. Pro Tiler Tools and Tile Warehouse have added a new, high growth, online-only sales channel to the group, leveraging our core strengths in product, service and scale.
“Looking forwards, we are mindful of the macroeconomic headwinds which will impact both UK consumers and businesses in the year ahead. Against this backdrop, our trading performance in the early weeks of the new financial year has been robust, with like-for-like sales growth in Topps Tiles over the first eight weeks of 3.4%.
“Our market share growth during 2022, combined with our clear strategy and strong balance sheet, give us confidence that we will continue to deliver growth and create value over the medium term.”
Twenty2 Recruitment & Consultancy, a boutique recruitment agency based in Castle Donington, Leicestershire, have welcomed Lindsay Woolley to the team as their newest recruitment consultant.
Lindsay brings with her a wealth of experience gained from a career in customer service and HR. Having worked with a number of leading companies across the East Midlands region, Lindsay knows the area well.
In previous roles she has been instrumental in building successful and long-lasting relationships with her clients through her previous experience in people relations and customer service.
It is these values that align so closely with those of Twenty2 and make Lindsay an asset to the team. Her role will see her build on the existing offering of Twenty2 in the region, focusing on opportunities across professional services in Derby and Leicestershire.
Founder, Hayley Grange, says: “We’re really excited to welcome our new recruit into the team. I’m looking forward to working with Lindsay and introducing her to our brilliant clients in the Derby and Leicestershire area.”
Midlands Engine Investment Fund (MEIF) exceeds £200 million milestone
The Fund has made 856 investments into Midlands’ businesses since 2017
Additional £301m of private sector investment unlocked by the fund
Funding supports innovative sustainable companies and improves access to finance in region
The Midlands Engine Investment Fund (MEIF) has now invested over £200m into Midlands businesses since its launch in 2017.
The debt and equity funding options offered by the MEIF have benefitted 595 businesses across the region and has supported SMEs in the creation of jobs, investment into new products and services and wider growth opportunities.
The Fund was launched by the British Business Bank in partnership with Local Enterprise Partnerships, the Midlands Engine and the UK Government with the aim of improving access to finance and the landscape for small businesses in the Midlands.
MEIF funding breakdown
Over £200m invested, with £301m of private sector co-investment unlocked
856 investments in 595 businesses
2,371 jobs created
Businesses in various sectors benefit from MEIF funding, including its ongoing investment in the region’s sustainable development and green technology.
A recent sustainability investment into renewable energy provided debt funding to Nottingham-based Roadgas, to support the company’s growth in supplying further renewable gas refuelling stations across the UK.
Birmingham-headquartered I-Phyc received £2.3m to support expansion of its nature-based wastewater treatment solutions through the MEIF’s Proof of Concept & Early Stage Fund to create new jobs.
Ken Cooper, Managing Director at the British Business Bank, said:
“Our partnership with key regional stakeholders including Local Enterprise Partnerships and our fund managers has played a significant role in reaching this new milestone. Investment by MEIF has been shown to promote resilience, innovation and productivity in supported SMEs and has helped diversify and strengthen the region’s finance landscape. We look forward to continuing this through the next £100m of investment.”
Jon Corbett, Chair of Strategic Oversight Board for the Midlands Engine Investment Fund, added:
“The Midlands Engine Investment Fund provides financing options to smaller businesses with potential in the Midlands. The funding allows businesses to achieve their goals and give entrepreneurs the opportunity to realise their growth ambitions.
“MEIF funding has helped many SMEs contribute to the wider economic growth of the Midlands and its wider economic goals through investment to support safeguarding existing jobs, creating new roles, overcoming challenges faced during the pandemic, and helping the region’s businesses to reach their full potential.
“While we’re celebrating another milestone, we hope to help many more businesses and entrepreneurs who have innovative and sustainable ideas in the future by breaking down the barriers of access to traditional finance and will allow the Midlands region to continue to prosper.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
New figures show that the return of the world-famous AJ Bell Tour of Britain cycle race boosted Mansfield’s local economy by more than £525,000 when it returned to Nottinghamshire in September.
An economic impact assessment commissioned by the event’s organisers reveals that the high profile cycle race generated £4.34m in net visitor expenditure for Nottinghamshire’s economy – with an impressive 225,000 fans lining the 116-mile route.
In Mansfield which hosted the final eight miles of stage five of the race on Thursday 8 September, the a total of spend was calculated as £525,015, mostly on accommodation and food and drink.
The average daily spend for day visitors was more than £48, while overnight visitors spent more than £135 with 86% of people saying the experience was very enjoyable.
The race returned to Nottinghamshire for the first time in four years with the fifth stage meandering through the county from West Bridgford to Mansfield. The stage proved to be the final leg of this year’s race as the three remaining stages were cancelled due to the passing of Her Majesty Queen Elizabeth II.
In Mansfield, there were an estimated 25,000 visitors watching the race. The evaluation report particularly highlighted how much people enjoyed the event with the majority of visitors left feeling, happy, proud, inspired and nostalgic.
Very few visitors noted any negative feelings associated with the event and 93% of visitors said that they would come back if West Bridgford/Mansfield were to host future Tour of Britain events.
Executive Mayor Andy Abrahams said: “This is a fantastic boost for the district. It showed Mansfield at its best and demonstrated our ability to host major international events such as this.
“We look forwards to hosting more of these kinds of prestigious events in the future in this area as a way of regenerating our local economy and showing the wider world what we know already – that Mansfield is a great destination, and that we are ambitious and open for business.
“I hope local people feel the same sense of pride that I feel about how the community came together.
“After their previous positive experience of working with the council, the race organisers were willing to extend the number of miles the route took in Mansfield so that more parts of the district were able to join in.
“I would like to extend a huge thank you to the communities of Warsop, Mansfield Woodhouse and Forest Town for their support in the build-up to the race and their enthusiastic cheer point events and activities on the day – we could not have done it without them.”
Race organisers hailed the Nottinghamshire stage for its atmosphere and organisation and the report revealed that Mansfield District Council was the fourth name most associated with the event, after A J Bell, Skoda, and Nottinghamshire County Council.
The total spend in Mansfield was up from £390,752 in 2018 when the district last hosted the race. And while attendance in Mansfield was down by 10,000 compared to 2018, the average spend per person was higher.
The report also shows that in Nottinghamshire:
69% of race spectators came from outside of the county
60% said they would visit the area again
24% stayed overnight
86% described the race as ‘very enjoyable’;
76% came with their families;
50% said the race had inspired them to cycle more.
Engineering, digital services and project management company Assystem, which has offices in Derby, has acquired project management and controls group LogiKal.
LogiKal operates in UK and Asia-Pacific markets and generates annual revenue of ca. £15m (of which 65% is in the UK). This move aims to significantly strengthen Assystem’s project management services offer by bringing over 100 skilled project management professionals into the Assystem Group.
Both companies have a footprint in key programmes such as the UK’s high speed rail route (HS2), Lower Thames Crossing and National Grid. Internationally LogiKal also brings experience from major projects including the Mass Transit Railway (MTR) in Hong Kong and the Sydney Metro.
Christian Jeanneau, Assystem’s senior vice-president – Digital, said: “Assystem’s ambition is to accelerate the convergence of engineering and project management through digital. By bringing LogiKal into the Assystem corporate family we are taking a step further towards achieving this.”
Simon Barber, Assystem’s UK Managing Director, said: “We are delighted to welcome LogiKal into the Assystem family and to be strengthening our comprehensive Project Management Office and wider digital services with a community of experts who are passionate about supporting the delivery of the low-carbon projects that are key to Britain’s energy transition.”
Bryn Lockett, LogiKal’s CEO, said: “Joining Assystem on its mission to support the drive to net zero will provide many opportunities to get involved in a range of exciting energy projects in the UK and around the world, as well as enhancing our well-established offer to the rail and infrastructure sectors. We are elated to be joining the Group’s Switcher community to support global efforts to address climate change.”
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