Improvements to the Castle Line rail corridor in the East Midlands would boost economic growth in tourism and hospitality sectors, according to the latest research.
The Castle Line is an important route linking multiple key destinations – Nottingham, a business and nightlife hotspot, renowned for the historic legend of Robin Hood, Lincoln, a historic cathedral-city, and Newark, a quaint market town.
Midlands Connect submitted plans to upgrade the route, to the Department for Transport last year. The proposals include increasing the line speed from predominantly 50mph to 75mph, with a long-term aim to double the frequency of services in the future.
A recent report titled ‘Tourism on Track’ explores how improved connections to the East Midlands would expand the visitor bases of these hotspots, shift the demographic groups attracted to the area and reduce car use.
Hamish Falconer, MP for Lincoln, said: “I wholeheartedly support Midlands Connect’s outline business case for funding to improve the Castle Line from Nottingham to Lincoln, allowing for faster and more frequent trains along the route.
“Lincoln has a lot to offer its visitors, with sites of major historic significance, as well as a bustling network of medieval streets, packed with quaint pubs and charming independent shops. But it is clear that the state of the city’s rail links has become a barrier to the city’s growth as a competitive tourist destination.
“Visitors are a major driver of our local economy, and by investing in the Castle Line rail upgrades – better connecting Lincoln to the wider Midlands and East Coast main line – we would support our tourism industry to flourish.
“Midlands Connect’s plans have my full support, and I hope to see the project progress.”
Tourism stakeholders in the East Midlands outlined concern that the current rail provision between Lincoln and Nottingham is presenting a challenge to the tourism and hospitality sectors in both cities.
The research found these sentiments were shared by rail customers who referenced issues such as slow, crowded and infrequent trains, affecting the appeal of using the trains for tourism.
Current timetable re-structuring is providing the opportunity to increase to two services an hour between Nottingham and Lincoln and these plans are also being considered.
Claire Ward, Mayor of the East Midlands, said: “Investing in the Castle Line rail corridor will be a significant step forward for the East Midlands’ visitor economy.
“By improving the speed and frequency of services between key destinations like Nottingham, Lincoln, and Newark, we will unlock new opportunities for tourism growth across the region.
“This investment would not only attract more visitors to our historic cities and market towns, boosting local businesses in hospitality and leisure, but also support sustainable travel options, reducing car use and enhancing the overall visitor experience.
“The East Midlands is rich in culture, history, and natural beauty, and better rail connections will ensure more people can enjoy everything we have to offer.”
Nottinghamshire motorcycle retailer falls into administration
Pidcock Motor Cycles Limited, an approved motorcycle retailer for a number of well-known manufacturers, has entered administration.
The Nottinghamshire business fell into financial difficulty following a challenging trading period linked to cost inflation and weak consumer demand.
Nathan Jones and John Lowe, partners at FRP Advisory, were appointed as joint administrators on 21st October 2024.
Through an accelerated sales process, the administrators have secured interest in the company’s BMW site and are currently considering offers from prospective buyers. The company’s Ducati and Triumph sites have been closed permanently.
18 employees have been made redundant across the two closed sites and are being supported with applications to the redundancy payments service.
Nathan Jones, joint administrator of Pidcock Motor Cycles and partner at FRP, said: “Pidcock is not the first retailer to struggle in challenging market conditions over the past year. The company is a reputable seller, partnered with some of the world’s best-known bike brands, and we’re not surprised that there has been interest from prospective buyers.
“While it’s unfortunate that a viable route forward for all three sites hasn’t been possible, we’re hopeful of a positive outcome for the Company’s BMW outlet. Securing that, as well as supporting employees affected by the closures, is our focus now.”
Sales from all of the company’s sites have been paused and a managed system put in place to allow owners to collect vehicles that have already been purchased. All customer deposits are being protected throughout the administration process and FRP plans to contact customers about how to collect either their vehicle or their deposit in the coming days.
Plans submitted for new Mansfield homes
Plans for 380 new homes at Penniment Farm, Abbott Road, Mansfield, have been submitted to Mansfield District Council.
The site, which is part of the Mansfield Local Plan, already has outline planning permission for up to 400 homes. The application includes significant financial contributions exceeding £2.5 million, including nearly £1.6 million contribution towards primary school education in the Pleasley, along with over £500,000 allocated for bus service improvements. The proposed development will feature a mix of 1 to 4-bedroom homes, all fitted with electric vehicle chargers. As part of the development, 28 homes will be offered as affordable rent or shared ownership options. Residents will benefit from approximately 6.25 acres of public open space, equivalent to four football pitches, and two on-site children’s play areas. The development also features biodiversity enhancements such as a bat commuting corridor, hedgehog highways and bird boxes. George Breed, Senior Land and Planning Manager for Persimmon Nottingham, said: “We are delighted to have submitted our reserved matters application for Penniment Farm, this development will provide high-quality new homes for local homebuyers alongside significant investment into the local area. “We look forward to working with Mansfield District Council and local stakeholders to bring this project to life.”boohoo responds to Frasers Group’s CEO push
Online fashion group boohoo has responed to a letter issued by Frasers Group in which it pushes the business to make Frasers’ founder Mike Ashley CEO, amidst a “leadership crisis.”
While the Board of boohoo is in the process of reviewing the requisitions with its advisers, it has spoken out to give clarification on certain matters raised by Frasers.
boohoo says it has neither delayed responding to Frasers’ requests for Board representation or ignored them, adding: “Frasers’ wish for Mike Ashley to be appointed as a Director and Chief Executive Officer was first communicated by Frasers to boohoo at an in-person meeting on the evening of Friday 18 October 2024, when Frasers sought to establish a 48-hour deadline for the Board to confirm that it would proceed to make this appointment.
“This was the first occasion on which Frasers had identified its preferred Board candidate and followed Frasers having formally ruled out Mr Ashley for the role on 9 October 2024 and having previously and consistently indicated that its one nominee would perform a non-executive role.”
With Ashley a 73% shareholder in Frasers, Frasers owning a 23.6% stake in ASOS, and both Frasers and ASOS operating in similar markets to boohoo, boohoo noted that “these are important facts that need to be taken into account and carefully considered by the Board.”
Boohoo continued: “Whilst the Board remains willing to discuss Board representation with Frasers in a constructive manner, it has been clear with Frasers that before any appointment can be made, appropriate governance will be required to protect the Company’s commercial position and the interests of other shareholders. boohoo has sought assurances from Frasers in this regard and they have not to date been provided.”
Boohoo also commented on Frasers’ critique of its recent debt refinancing, saying it is “inaccurate and unfair.” Boohoo said: “The refinancing provides certainty for the Company around its future requirements and is supported by its existing group of high street banks.
“The Company’s approach to its recent debt refinancing was discussed on numerous occasions with Frasers and its advisers. As part of those discussions Frasers were advised that the Board would be pleased to consider any alternative proposals they might wish to present, but none were forthcoming.”
Shirebrook-based Frasers Group, the largest shareholder in boohoo, with 27% of the issued share capital, is calling for a meeting of shareholders to vote on appointing Mike Ashley as a director and CEO, as well as Mike Lennon, a restructuring expert, as a director. It comes after boohoo announced that John Lyttle would be stepping down as CEO, following five years with the Group, and amidst declining revenue. In its letter, Frasers critiqued the business’s Board, saying it has lost its ability to manage boohoo’s business and investments.Step forward for Northampton’s Greyfriars regeneration as council completes purchase of iconic Corn Exchange
West Northamptonshire Council (WNC) has completed the purchase of the Corn Exchange in Northampton, marking a key milestone in its ambitious plans to revitalise Northampton town centre and transform the Greyfriars area.
The Corn Exchange, a historic building that has stood empty for over a decade, will soon be brought back to life as part of a wider vision for a vibrant, multi-generational neighbourhood.
Once a-thriving hub for cinema and entertainment before becoming the Chicago Rock Café, the Corn Exchange has long been a beloved part of the town’s history.
The Council’s acquisition of the building signals a significant step forward in the transformation of Greyfriars, where WNC plans to create a new, connected neighbourhood featuring green spaces, entertainment areas, and improved transport routes.
The Corn Exchange will serve as the cultural anchor of the Greyfriars redevelopment, reimagined as a venue for entertainment, leisure, and performance that will attract both daytime and evening visitors.
Cllr Daniel Lister, Cabinet Member for Local Economy, Culture and Leisure at WNC, said: “The Corn Exchange has been a part of Northampton’s rich heritage, and we are thrilled to take ownership of this iconic building as part of our broader vision for Greyfriars.
“By restoring it to its roots as a place for entertainment, we are safeguarding its history while creating new opportunities for cultural and economic growth. This project is not just about redeveloping a site—it’s about reconnecting our community with its town centre, breathing new life into a cherished space, and building a future that is vibrant and inclusive for all.”
The site will be an integral part of the Greyfriars masterplan, which has been developed through extensive public consultation with local residents and businesses. The 25-acre area is set to transform into a dynamic and inclusive neighbourhood, integrating the historic building into a space designed for the future.
The Council is working closely with the English Cities Fund (ECF)—a partnership between Homes England, Legal & General, and Muse—to take the project to the next level of detail.
WNC will now work with ECF to further evolve the masterplan, investigate the best uses for the building and explore funding opportunities for the delivery of the scheme. Together, the partnership will present an updated masterplan to the public and Council in spring next year for consideration and consultation.
Following the public consultation, and approval from Council, the project will then begin the necessary next steps such as planning, to bring this scheme forward.
The regeneration of the Corn Exchange also promises to improve connectivity within Northampton. Once isolated, the Greyfriars area will be seamlessly linked to the town centre, creating a direct route between the newly transformed Market Square and the Greyfriars site.
This development will create a cohesive and accessible town centre, positioning the Corn Exchange as a focal point for both the local community and Northampton’s broader cultural landscape.
76% of UK financial services chiefs to increase office attendance in next 12 months
More than three quarters (76%) of financial services leaders across the UK are planning to increase office attendance in the next 12 months, according to new research from KPMG UK.
The survey of 150 leaders working across banking, insurance, asset and wealth management and private equity found that more than a third (37%) of those planning to increase attendance will expect employees to be in the office at least four days a week.
Financial services were a first mover in returning staff to the office post-pandemic, with some of the major investment banks being the first to vocalise a vision for a full office return. However, they also see the value of the hybrid working model, with more than half (58%) of UK financial services leaders saying it is a competitive opportunity for the sector; 20% of these say the opportunity is significant.
A separate study by KPMG into the working preferences of financial services employees found that just 10% want to work in the office full time. Despite differing locational working preferences, all age groups of employees said flexibility around hybrid working is important when choosing a job.
Karim Haji, Global and UK head of financial services at KPMG, said: “There is no one-size fits all approach to this and businesses are still trying to find the hybrid working sweet spot more than two years on from the pandemic.
“Leaders see the commercial value of hybrid working models, particularly when it comes to attracting and retaining talent, but they are still expecting greater office attendance in the coming months to retain collaboration with colleagues and clients. Leaders also have to balance regulatory and risk pressures as part of managing hybrid models, which will be a contributing factor for getting staff back into the office.
“What is important is that companies find the right balance that works for their business and their employees. This will ensure that the sector retains good people and fosters a collaborative, productive culture that is successful and competitive.”
Leaders are planning to track attendance in several ways. Almost 45% plan to monitor attendance through office card swipe systems, followed by 40% using timesheets and just under a third (29%) will install digital cameras.
East Midlands businesses invited to have say on government Industrial Strategy before time runs out
With one month left until the government closes public consultation on Invest 2035 – its Industrial Strategy – East Midlands Chamber is to hold three round table webinars for the business community to help shape and influence the consultation response ahead of the 24th November deadline.
Insight and evidence gathered at the webinars – to be held on 11th, 18th and 20th November – will provide the core elements, shaping the response East Midlands Chamber delivers to the government.
The government’s Industrial Strategy proposes to boost growth across clean energy, advanced manufacturing, creative industries, clean energy, design and technologies, defence, life sciences, financial services and professional and business services. The final Industrial Strategy will be published in spring 2025, alongside the multi-year spending review.
East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “This is a critical moment where, with only 4 weeks until the clock runs out on the government’s public consultation, it’s essential the voice of business in the East Midlands is heard.
“The Green Paper identifies 8 key sectors which offer the highest growth opportunities for the UK economy. It is vital the East Midlands is seen as a key delivery partner for some, or all of these to ensure the region benefits from the impact on growth this strategy is set out to deliver over the next 10 years.
“We’re calling on the region’s business community share their views and experiences on the 10 questions we’ve raised including ‘How should the government identify the most important subsectors and technologies’ and ‘What barriers are there to investment?’
“It’s just a case of a business choosing one of the three webinar dates that work for them and registering. Sparing a short amount of time could really make a difference.
“These opportunities to influence policy on this scale are rare. It’s seven years since the previous government released the last Industrial Strategy, so now is a key opportunity which I’d urge businesses in the East Midlands to seize and shape the response that the Chamber presents to the government.”
Allscreens Nationwide secures windscreen repairs and replacement deal with Tesco
Leicester-based Allscreens Nationwide Ltd has been appointed as the sole-provider of windscreen repairs and replacements for Tesco.
Tesco has a national fleet of 10,000 lorries and home delivery vehicles. Operating out of 64 UK branches, Allscreens Nationwide specialises in minimising the downtime of fleet vehicles.
This contract is the largest Allscreens Nationwide has secured this year. Commenting on the deal, Sarah Harper, National Sales Manager at Allscreens Nationwide Ltd, said: “This is a significant national deal which helps to further establish Allscreens Nationwide as a leading windscreen repair and replacement company.
“We’re thrilled to add such a well-known brand to our roster of clients and we’re excited to start our work with Tesco over the coming months.”
Allscreens and Nationwide Windscreens form part of the Sole Automotive Glazing Group, which now has combined sales of £24m per annum, servicing many of the UK’s major fleets and insurance companies.
Chesterfield restaurant & foodservice supplier gobbled up
Chesterfield-based speciality restaurant & foodservice supplier, MSK Ingredients has been acquired by food ingredients specialists Ingå Group.
Founded in 1998, MSK supplies speciality functional ingredients, technical support and tools & equipment to professional chefs, restaurants, and foodservice across the UK and Europe, helping them create dishes with more precise control over flavour, colour, texture, and presentation.
Original owner, Kevin Bateman, is retiring after starting MSK in 1998, whilst partner and Managing Director, Deborah Prynne, will continue to lead the business, saying: “We are delighted to have found the right partners for this next exciting chapter of the business.”
Prynne added: “We’re confident that we have found a long-term partner that shares our vision of growing MSK for the benefit of our customers and colleagues alike, while maintaining and strengthening the values that have built the business to the success that it is today.”
This latest addition further strengthens the Ingå Group family of autonomous ingredients businesses across Europe, joining UK-based functional clean-label ingredient specialists, Ulrick & Short, France-based speciality premium ingredients company, Louis François, and Netherlands-based ingredients distributor, Verdant Ingredients.
CEO of Ingå Group, Adrian Short, said: “We are very happy to welcome MSK as our latest family member & to support them on the journey ahead. It was clear from the start of the process that MSK was a remarkable, market leading, gem of a business with compatible values to our own.
“We are looking forward to helping MSK create sustainable, long-term, value & growth helping the business achieve its potential for the benefit of existing and new customers.”
Short added: “MSK is an important piece in the puzzle as we look ahead to further acquisitions.
“The potential for future collaborations, along with the added experience and expertise, will allow us to even better access a broader customer base and product innovation within the ecosystem, ultimately creating better products for all users of food ingredients – from large scale food manufacturers to Michelin star chefs.”
Warehouse investment sold in Ilkeston
On behalf of private clients, FHP Property Consultants has completed the sale of 1 & 2 St Andrews Court, Manners Industrial Estate, Ilkeston, comprising 12,718 sq ft of industrial warehouse space.
The property features a steel portal frame building split into two units. Unit 1 comprises 6,877 sq ft of open plan warehouse accommodation with offices and staff welfare facilities and was vacant. Unit 2 comprises 4,594 sq ft of open plan warehouse accommodation and is let to Adams Engineering (Ilkeston) Limited at a rent of £27,000 per annum for a term expiring October 2029.
The price achieved was £981,755.
Corbin Archer from FHP Property Consultants said: “I am pleased to have sold this property on behalf of a longstanding client of FHP, achieving an excellent result having only been marketing the investment for two weeks prior to placing it under offer showing the strong demand for freehold warehouse properties in Ilkeston.
“Even after placing the property under offer, I was still getting constant calls from owner occupiers/investors wanting to purchase the property as there is such little available in the area for sale.”
Revenue declines at “distracted” Travis Perkins
Group revenue is down at Travis Perkins, the Northampton-based builders’ merchant, with the firm’s CEO saying “the Group has allowed itself to become distracted and overly internally focused which has led to the underperformance in recent periods.”
According to a third quarter trading update for the three months to 30 September 2024, revenue declined by 5.7%, driven by the Merchanting segment.
Toolstation, meanwhile, delivered a “robust performance” with growth of 2.9% in the quarter in the UK and Benelux like-for-like sales up 9.6%.
Toolstation France remains on track for full closure by the end of FY24, with 8 branches being sold to Quincaillerie Angles as a going concern and the remaining 43 branches, alongside the transactional website, having now ceased trading.
Given the shortfall in the Merchanting segment, the Board now expects FY24 adjusted operating profit to be around £135m.
Pete Redfern, Chief Executive of Travis Perkins plc, said: “My first few weeks at Travis Perkins Group have reaffirmed that this is a business with many strengths – the quality of our nationwide branch network, strong customer and supplier relationships and, above all, an experienced team of branch managers and commercial leaders within the business.
“Travis Perkins Group plays a critical role in the construction industry. Connecting our customers with the products and tools they need and removing the friction from fragmented and complex supply chains will be core to our strategy.
“However, it is clear that the Group has allowed itself to become distracted and overly internally focused which has led to the underperformance in recent periods. We now need to get back to a focus on operational execution – delivering great products and great customer service and better leveraging our reach and scale.
“Over the last nine months the team has made good progress on implementing cost discipline, improving working capital management and exiting Toolstation France.
“In addition to supporting these ongoing actions, my immediate priorities are driving and incentivising branch-led performance and motivation, identifying further ways to make the business run more efficiently and ensuring that we turn and face the anticipated recovery in the UK construction market.
“During this important period, I will combine the roles of Group Chief Executive and Managing Director of the Travis Perkins General Merchant business. This will allow me to shorten reporting lines and develop our new strategy, working closely with the operational leaders of this business as well as the Group Leadership Team.
“I am confident that together we can bring significant improvements in performance and the execution of change.”
Administrators appointed to Nottinghamshire manufacturer
Nottinghamshire-based business Dale (Mansfield) Limited has fallen into administration.
Dale was established in the early 1970s, initially offering engineering, manufacturing, design and subcontracting services to the deep mining industry.
Following the decline of the UK mining industry, the company diversified its business into other industries including manufacturing hydraulic cylinders and supplying quality machined parts through to fabricated assemblies. It employed 34 members of staff.
The company has now ceased to trade, with employees made redundant.
Richard Pinder, Director, Restructuring and Insolvency, at Leonard Curtis, who alongside Sean Williams was appointed joint administrator of the business on 15 October, said: “The company ran a marketing campaign last year to find a purchaser or investor to take the business forward which unfortunately was unsuccessful.
“Upon my instruction to advise the company, it was clear that its financial and operational position was such that there was no realistic prospect of avoiding a cessation of trade and there was insufficient working capital or work in progress to support continued trade, even in the immediate short term.
“The company therefore ceased to trade earlier this month and the employees were made redundant.
“We are currently assisting the Redundancy Payments Service in dealing with the processing and payment of employee claims for redundancy and their other entitlements.
“It is possible that unsecured creditors will receive some funds back through the administration process, although at this early stage this position is uncertain.”
A public auction of the company’s assets will be conducted by John Pye & Sons.
Frasers Group makes push to install Mike Ashley as boohoo CEO
Shirebrook-based Frasers Group has said there is a “leadership crisis” at fashion retailer boohoo, proposing the solution is to make its founder Mike Ashley CEO.
Frasers, which is the largest shareholder in boohoo group, with 27% of the issued share capital, has sent an open letter to the Board calling for a meeting of shareholders to vote on appointing Mike Ashley as a director and CEO, as well as Mike Lennon, a restructuring expert, as a director.
It comes after boohoo announced that John Lyttle would be stepping down as CEO, following five years with the Group, and amidst declining revenue. In its letter, Frasers critiqued the business’s Board, saying it has lost its ability to manage boohoo’s business and investments. In a statement to the London Stock Exchange, Frasers added: “Frasers is requisitioning a general meeting of boohoo to appoint Mr. Mike Ashley as a director and CEO of boohoo and Mr. Mike Lennon as a director of boohoo, to take effect without delay. Frasers firmly believes that these appointments are in the best interests of boohoo, its shareholders and its stakeholders.“The Board appointments proposed by Frasers are now the only way to set a new course for boohoo’s future. Frasers urges boohoo shareholders to vote in favour of its proposals.”
The boohoo Board is in the process of reviewing the content and validity of the requisitions with its advisers.Streets Chartered Accountants’ golf day secures hole in one for Air Ambulance
Lincoln-based Streets Chartered Accountants, a top 40 accountancy practice, has hosted their eleventh annual Charity Golf Day raising a record amount of more than £7,500 for the Air Ambulance.
The total amount fundraised will be divided between three regional charities; East Anglian Air Ambulance, Lincolnshire and Nottinghamshire Air Ambulance, and Yorkshire Air Ambulance.
The winning team on the day was Bickford Ltd with Martin Sheardown coming in second and Fisher Motor Factors in third place. The winners of the Longest Drive and Nearest the Pin competitions were Scott Park (Mens) and Alice Gray (Ladies) and Rory Colhoun respectively.
Streets would like to say a huge thank you to all those people who sponsored, donated, gave their time and helped in some way, without whom the day would not be possible.
The event received fantastic support with 25 teams taking part and more than 30 local businesses sponsoring the day, including Business Link Magazine, which sponsored a hole at the event. There were Stableford team prizes as well as competitions such as Longest Drive, Nearest the Pin, Beat the Pro, All four hit the Green and Hole in One.
Commenting on the day, Streets Partner Mark Bradshaw said: “The support we have received has been truly overwhelming and has helped us raise a staggering £7,545 for our three local Air Ambulance services. We’re delighted to be able to support our local Air Ambulance Services, who are the true winners of the day.”
Streets’ 12th Charity Golf Day will take place on Friday 4th July at Lincoln Golf Club, Torksey. Once again this will be in aid of the three Air Ambulances for which Streets have raised more than £70,000 for over the last 11 years.
Derbyshire manufacturer snaps up Wrexham firm
Derbyshire-based Prisma Colour, the independent Thermoplastic masterbatch manufacturer, has acquired Silvergate Plastics of Wrexham.
By joining forces, Prisma Colour and Silvergate Plastics expand the capabilities that both organisations have but also enhance their ability to serve all customers and potential customers with a broader range of products and services with the same speed of response.
Dominic Philpot, group MD, said: “Combining the expertise, market knowledge and processing skills of both organisations really does bring a massive benefit to our entire customer base.
“There will be no disruption to any of our clients as we continue to operate both sites fully and maintain the excellent quality and great customer service that both entities have become well known for. This obviously means our employees will also be looked after and retained.”
He added: “Joining forces with an already outstanding organisation like Silvergate, expanding and sharing human, financial and equipment resources can only provide greater opportunities to support customer developments with timely innovation for wider product offerings.”
Founded originally in 1984, Silvergate Plastics became part of the Vita group before becoming independent again following an MBO in 2008. Tony Bestall, who led the MBO in 2008, said: “Owning Silvergate with my fellow shareholders for the last 16 years has been a real privilege. Seeing it now join forces with Prisma Colour is extremely exciting for the two companies. “The combined operation will become the driving force of the sector, offering an unrivalled portfolio and the best customer service the industry has ever seen. I’m very excited to watch it develop!” Prisma Colour was established in 1991, and has remained independent and owned by the same family, primarily supporting the rubber, plastics and associated industries with colour and additive concentrates.Powering up rail electrification could create 4,300 East Midlands jobs
Regional leaders, MPs and the biggest business organisation in the East Midlands have joined forces to urge government to power up plans to electrify more sections of the Midland Mainline railway.
More than 4,000 skilled jobs could be created if government signs off plans to electrify parts of the line which go north of South Wigston in Leicestershire.
And industry experts say the most cost-effective way to deliver on those plans will be to let the firms and workers who have been building electrification infrastructure further south know that more work is on the way.
Midland Mainline is the main rail link between the East Midlands region, South Yorkshire and London, carrying more than nine million passengers a year and bringing annual economic benefits of £450m.
Unlike the East and West Coast main lines, it is not fully electrified, meaning trains must switch to polluting diesel power when they go north past South Wigston in Leicestershire and on to Leicester, Derby, Nottingham, Chesterfield and Sheffield.
Ahead of the 30 October Budget, Transport for East Midlands (TfEM) has revealed analysis showing that alongside the transport and environmental benefits, electrification of the line up to Sheffield could create 4,300 new jobs, including skilled occupations, and more than 100 apprenticeships.
The analysis also shows that over the remaining course of the project, electrification of the Midland Mainline could generate an additional £61m in economic value from jobs created in the East Midlands, and nearly £18m in social value benefit.
Sir Peter Soulsby, the Chair of TfEM, said: “After the cancellation of the eastern leg of HS2, it’s vital that the East Midlands’ existing rail infrastructure is improved and upgraded to support rising passenger demand and the need for economic growth.
“One of the critical components of getting electrification done cost-effectively is to ensure we’ve got a workforce that has the skills and capacity to deliver. I’m urging government to signal progress on the next phase beyond South Wigston so that we can keep the workforce together and develop the skills we’ll need for future sections to be electrified.”
In a clear demonstration of regional consensus, the elected Mayor of the East Midlands, Claire Ward, says the jobs electrification will create are vital to the region achieving its growth ambitions.
She said: “The electrification of the Midland Mainline is a vital step in unlocking the full economic potential of our region.
“By electrifying the line, we not only honour our region’s rich rail heritage but also create thousands of skilled jobs and apprenticeships, driving investment and improving connectivity for towns and cities across the East Midlands.
“This is a chance for the government to power up our economy, attract new businesses, and ensure a greener, more efficient transport network for generations to come.”
MPs and businesses are also supporting TfEM’s call for government to provide certainty.
Catherine Atkinson MP, whose Derby North constituency is a national centre for rail engineering, said: “For generations, Derby has been a rail industry leader and is the proud home of Great British Railways. Investment in our regional rail infrastructure will solidify that legacy for future generations to come, support our economic growth, whilst also retaining the rich skills we already have in the city’s workforce right now.
“This is an opportunity to signal a bright future for the rail sector, both at home and internationally, which is essential in protecting our supply chains, nurturing innovation and keeping recruitment and retention of this highly skilled workforce on track.”
One of the businesses involved in Midland Mainline electrification is Derby-based Overhead Line Engineering, headquartered at Pride Park.
Keith Orgill, owner-director of the business, said: “OLE is one of very few East Midlands businesses capable of carrying out electrification design. We employ 15 engineers and we have successfully delivered electrification of the Midland Main Line up to South Wigston.
“The delay to the procurement of the next stage of the electrification programme has created a hiatus in design work. This has already had an impact on design companies based in the East Midlands and the longer confirmation is delayed the harder it will be to keep the specialist workforce together.
“Should it be lost, it will be really difficult to reestablish this capability in the region. However, if government commits now, we can recruit, train, prepare and deliver cost effectively.”
James Naish is MP for Rushcliffe, which includes East Midlands Parkway on the Midland Mainline. He said: “After the cancellation of HS2, it is important that connectivity to the region isn’t forgotten and with electrification of the Midland Mainline, the East Midlands Parkway station will finally act as a proper gateway to the area.
“We know that there’s the prospect of high-quality jobs nearby on the Ratcliffe-on-Soar power station site, as well as fantastic and growing businesses and universities within a short journey, so I’m really pleased that we’re speaking as one on the importance of this project.”
East Midlands Chamber of Commerce has identified transport infrastructure as one of its key asks of government in the Autumn Budget.
Richard Blackmore, the Chamber’s Director of Policy & Insight, said: “Full electrification of the Midland Mainline is long overdue. We represent more than 4000 businesses across the region, and they tell us regularly about the challenges they face from inadequate rail and road links.
“Rail engineering is also an important part of the regional economy and an investment in improved connectivity is going to pay back directly in skilled jobs, greater productivity and increased growth. Government needs to commit to give the industry the certainty it requires to deliver.”
Tom Newman-Taylor, the CEO of East Midlands Freeport, has also joined calls for greater investment in the region’s transport infrastructure.
He said: “East Midlands Freeport is the biggest growth opportunity in the region, with the potential to create 28,000 jobs and deliver an additional £9bn in economic output.
“The Midland Mainline runs directly alongside our Ratcliffe-on-Soar Power Station investment site, with a station at East Midlands Parkway. If we are to unlock the region’s full potential, then we need to see investment in both upgraded rail and road infrastructure.
“Without this, transport could become a major barrier to growth and prevent us from realising these ambitious opportunities.”
Monthly insolvency figures rise, but seeds of recovery emerging
A rise in the number of monthly company insolvencies in England and Wales does not reflect the seeds of recovery which are beginning to germinate in the Midlands business economy.
This is according to the Midlands branch of insolvency and restructuring body R3 and follows latest monthly statistics published by the Insolvency Service which show that corporate insolvencies increased by 1.5% in September 2024 to a total of 1,973 compared to August’s total of 1,943 but decreased by 7.4% compared to September 2023’s figure of 2,130.
R3 Midlands chair Stephen Rome, a partner at Penningtons Manches Cooper in the region, said: “Although corporate insolvencies have risen by a small percentage compared to last month, there have been some positive indications for the local marketplace, with construction output increasing, retail sales volumes continuing to rise in August and consumers spending more in the hospitality sector in September.
“Across the wider local economy, however, the business climate remains difficult as almost every firm faces a multitude of issues, including ongoing cost challenges and uncertainty around announcements in the Budget.
“Of particular concern is the impact of future tax rises, and R3 members are telling us that there’s an increased demand for support around Member Voluntary Liquidations as directors take steps to reorganise their business and its finances ahead of any changes announced in the Budget.
“Also of significant concern are the potential knock-on effects of the conflict in the Middle East, particularly for local companies in the energy, manufacturing and retail sectors. Increasing instability could further disrupt trade routes, impacting on the supply of imports or exports. Businesses will have to weigh up whether they pass any cost increase onto customers or absorb it themselves.
“With so much uncertainty ahead, R3 urges Midlands businesses to keep a close eye on finances and seek advice at the first sign of significant distress. Most R3 members will give prospective clients a free initial consultation to learn more about their circumstances and to look at potential solutions.”
Region’s role in leading development of hydrogen as an energy source to be celebrated at summit
The future of clean energy and the region’s role in leading the development of hydrogen as an energy source will be celebrated at a high profile summit next month.
Mayor of the East Midlands, Claire Ward, will be the keynote speaker at the East Midlands Hydrogen Summit on November 8th, organised by East Midlands Hydrogen, an industry-led initiative supporting the region’s energy revolution by growing the UK’s largest inland hydrogen cluster.
At the Summit, Mayor Claire is set to share her vision for decarbonising the region and stimulating inclusive growth.
Mayor of the East Midlands, Claire Ward, said: “I’m thrilled to be speaking at the East Midlands Hydrogen Summit during such an exciting time for our region. Our spirit of innovation and enterprise, which drove the first industrial revolution, gives us the chance to lead once again.
“With our ideal location, outstanding infrastructure, and skilled workforce, we’re perfectly positioned to power the UK’s green energy future and make a real difference.”
Dr Jeevun Sandher MP, Chair of the All Party Parliamentary Group (APPG) on Hydrogen and MP for Loughborough, will also be speaking at the summit. The APPG for Hydrogen focuses on raising awareness of, and building support for, large scale hydrogen projects to help the country meet decarbonisation targets.
The East Midlands Combined County Authority (EMCCA), Cadent and the East Midlands Freeport, will be showcasing the investments, advances and innovation underway in the region at the summit.
Delegates will also hear from East Midlands Hydrogen Consortium partners and members who are playing their part in establishing the full hydrogen value chain, from production, distribution and industrial end use, forecasted to result in carbon dioxide emissions savings of at least 1.9 million tonnes per year, equivalent to removing gas-related carbon emissions of 860,000 homes per year.
The event takes place at Loughborough University on Friday 8th November 2024 10am – 2pm.
Delegates can register for the event using this link using the password EMHregister2024
Computer repair firm plugs in at Burton business park
Rushton Hickman Ltd has let Unit 11 at Eccleshall Business Park to Thinktech IT Services Ltd, a provider of computer and laptop repair services.
Eccleshall Business Park is located on Hawkins Lane, situated within one of the principal industrial areas of Burton upon Trent.
Specifically, the 1,725 sq ft unit features a layout that includes a ground floor area of 1,440 sq ft equipped with two roller shutter doors, providing seamless access for deliveries and operational needs. Additionally, the unit also offers extra first-floor space of 285 sq ft, ideal for office use. It also benefits from a small, self-contained yard.
Bilal, director of ThickTech IT Services Ltd, said: “I want to thank the team for all their help from start to finish. We viewed a few units and were struggling to find the right one for our needs at first, Richard and Steph were very helpful throughout. They made us feel comfortable and explained everything in detail. The whole process was smooth and trouble free.”
As Rushton Hickman Ltd welcomes the new tenant to Eccleshall Business Park, Richard Fairey, Director, said: “We take pride in finding businesses like Thinktech IT Services Ltd the best premises and supporting facilities available to operate and grow from. We believe Eccleshall Business Park is the ideal location for this to happen.”
Hortons to deliver 200,000 sq ft industrial redevelopment in Corby
Independent property company, Hortons, has secured planning consent for the redevelopment of a vacant warehouse unit in the UK’s logistics ‘golden triangle’.
The project will deliver more than 200,000 sq ft of premium warehouse/logistics accommodation at Saxon Park off Saxon Way West, in Corby.
Hortons will extensively redevelop a single existing building to create two new units, known as Saxon 79 and Saxon 129, which will comprise 78,500 sq ft and 129,300 sq ft respectively.
The new units will include secure yard space, integral first floor offices and a power supply of up to 1 MVA, with the ability to increase capacity. Environmental sustainability lies at the heart of the refurbishment, with features such as LED lighting, PV roof panelling and EV charging stations. Both units will target an EPC A+ rating.
Hortons acquired Saxon Park in 2023 and has since completed the comprehensive upgrade of Saxon 58, a 58,350 sq ft warehouse/logistics unit, which was pre-let to Russell & Bromley.
Saxon 79 and Saxon 129 are expected to be available for occupation from Q3 2025.
James Slater of Hortons said: “We are investing in a full scale redevelopment programme to create two new high specification warehouse/logistics units, offering enhanced power and sustainability. The project is one of a series of developments we are undertaking at Saxon Park. It will provide occupiers with grade A accommodation in an established and sought after industrial location.”
