Construction work has officially commenced on the fourth phase of the major Castleward development in Derby city centre, where a further 112 new homes will be delivered.
Regeneration specialist Compendium Living, Derby City Council, housing developer Lovell Partnerships and Homes England celebrated the occasion with a breaking-ground ceremony on the brownfield site.
Castleward is a £100 million development and one of the city’s largest housing projects, situated between Derbion shopping centre and Derby Midland Station. In total, the scheme will provide around 700 new homes, as well as green space and nearly 35,000 square feet of commercial retail space. It is a long-term placemaking project, being delivered over a period of 15 to 20 years.
The fourth phase of Castleward will be close to Liversage Square and split over two sites, one located on Canal Street providing 62 homes and one on John Street with 50 homes. The development will consist of a range of two and three-bedroom houses and one and two-bedroom apartments.
The properties will be a mix of 78 open market sale homes and 34 affordable homes. Work on phase four is expected to be completed in early 2027.
Bruce Lister, Managing Director at Compendium Living, said: “Castleward is a hugely significant development, both for us at Compendium Living and for the people of Derby, and we couldn’t be happier to have commenced work on our fourth phase.
“Phase one of Castleward commenced over a decade ago and I am so proud of the bustling, vibrant community that has grown here in that time. To now be breaking ground on phase four is an incredible milestone, and we are looking forward to adding to our previous success and welcoming more residents into their new homes.
“We are committed to delivering this next phase to the same high standards, as we continue to breath a new lease of life into this brownfield site.”
Cllr Nadine Peatfield, Leader of Derby City Council, said: “It’s great to see work beginning on this latest phase of the Castleward Urban Village and I’m delighted to attend this groundbreaking ceremony with key partners behind the project.
“This development is a key part of our work to transform our city centre into a vibrant and attractive place to live, work and visit. Already we’ve seen hundreds of people call the area home and have created a new gateway between the city centre and the railway station.
“I’m looking forward to seeing the new homes take shape over the coming months and seeing more residents make the switch to city centre living.”
Midlands property agency Bond Wolfe has secured the £1.3 million sale of a unit on Derby’s Southgate Retail Park to Connect Derby Properties Ltd.
The modern retail unit has The Gym Group as its long-term tenant on a reversionary lease until 20 March 2031.
As a result, the 11,643 sq ft purpose-built unit is currently generating a passing rent of £97,344 per annum exclusive, representing a low £8.36 per square foot.
The Gym Group has leased the unit since 2011. Southgate comprises 48,000 sq ft of retail space, anchored by a Lidl store.
Clark Brookes Turner Cary Solicitors in West Bromwich acted for the seller and Elliot Matther in Derby advised Connect Derby Properties Ltd.
James Mattin, managing director agency at Birmingham-based Bond Wolfe, said: “We are pleased to announce the sale of this key retail investment on Southgate retail Park.
“The property went under offer very quickly after being released to the market, which demonstrates further evidence of the demand for these types of assets from the private investor market.
“We are shortly releasing a number of similar opportunities in the area and would be pleased to discuss specific requirements from investors looking for opportunities.”
Preston-based Turner Accountants has merged with Lincolnshire’s Streets Chartered Accountants, seeing the establishment of Streets Turner Chartered Accountants.
This latest merger is one of more than seven that Streets Chartered Accountants have completed in 18 months and which has seen the practice grow, now with more than 27 offices and fee income over £35 million.
Mike Turner, Managing Director at Turner Accountants, said: “I am delighted and excited about the merger. The practice was founded in 1996 by myself and over the years it has grown based on our reputation and the demands of clients in and around Preston.
“As with any business we cannot stand still and to overcome the challenges we and our clients face, we needed to develop our business. We looked for some time to find a perfect partner to support us and one with which we share mutual values and we believe we have found that in Streets.
“Certainly, there is a great match, both in terms of client focus and cultural fit. The merger has also given us the opportunity to promote three, highly valued, members of the team, Henry Abell, Lynda Rainford and Catherine Clifton to directors.
“Now that Turners is part of a larger practice, we can confidently promise greater continuity of service to our clients and improved career prospects for our team.
“We also believe that our clients will benefit in that the combined firm will be able to offer a wider range of services including areas of specialist corporate and private client tax planning, banking and finance, international advice, personal financial planning and even a virtual finance office whilst still retaining those personal relationships.
“As a result of the merger, we are also now able to undertake statutory audits for larger clients, as well as businesses and organisations across Preston.”
Streets Chartered Accountants’ Managing Partner, Paul Tutin, said: “In line with our strategy to become a truly UK practice we are looking at and working with a number of firms looking to become part of Streets. The merger of Turner Accountants in Preston is the latest in line with our plans to expand our geographical coverage and provides us with an ideal presence in Lancashire.
“We were delighted to enter into a conversation with Mike Turner and his team at Turner Accountants. Very early on in our discussions it was clear that we shared the same vision and values for the profession and for supporting our clients.
“We are really looking forward to working with Mike, Henry, Catherine and Lynda to grow the practice and to further establish it as a pre-eminent accountancy, business and tax advisory firm servicing the needs of businesses and individuals across Lancashire and the North West.
“Looking ahead with a number of further mergers and acquisitions in the pipeline which include a number of practices across the UK, we are on track to achieve our target revenue of £40m by the end of the year.
“The profession is going through significant consolidation with heightened levels of merger and acquisition. In contrast to many our approach seeks to build on the success of merging firms, ensuring we retain and build on their winning approach. An approach we believe is particularly liked by many of those looking to exit routes, the challenge of growing their practice or facing increased competition and the need to widen their service offering.”
Streets Law, Streets Chartered Accountants’ dedicated corporate and commercial law offering led by Managing Director and Solicitor, Adam Aisthorpe, undertook the legal work on Streets Chartered Accountants’ behalf for the merger, including drafting the sale and purchase agreement and dealing with the due diligence process in collaboration with internal colleagues in tax and audit teams.
Lightsource bp has completed its largest UK solar project to date. Completion was followed by the sale of the solar farm and co-located energy storage project to specialist renewable investment manager Schroders Greencoat.
Lightsource bp will provide asset management and Operations and Maintenance (O&M) services for the solar project via its in-house O&M team.
Tiln Farm is a 49.9MWac solar project near Retford in Nottinghamshire and, now complete, is providing power to building products manufacturer Forterra via a long-term Power Purchase Agreement (PPA).
The signing of the PPA with Forterra in 2022 heralded the company taking significant steps to a sustainable future. Tiln Farm solar will provide the Northampton-headquartered brick, block, and concrete producer with around 70 percent of its electricity needs, in a sector-leading investment that will provide renewable energy to Forterra’s 17 sites for 15 years.
Construction on the project began in 2022, on what is the first Lightsource bp project globally to be co-located with energy storage, with a 25MW/50MWh (two-hour duration) battery also now operational onsite.
Declan Keiley, Head of Business Development for the UK and Ireland at Lightsource bp, said: “We’re proud to have completed our first co-located energy storage project and largest solar project in the UK to date. The Tiln Farm project is a milestone for the company in many ways, and the ongoing partnership with Schroders Greencoat, as the project’s new owner, underscores Lightsource bp’s strong credentials as a trusted development partner.”
Matt Tingle, Investment Director at Schroders Greencoat, said: “We’re proud to continue to lead in renewable infrastructure with this investment. Co-located assets like this have an important role to play in balancing intermittent renewable energy generation, as well as delivering vital grid stability services. Sharing the same grid connection also helps to optimise increasingly scarce grid capacity as the UK transitions towards net zero.
“As the largest manager of operating ground mount solar farms in the UK, with around 1.9 GWp of solar assets under our management, this acquisition adds to our diverse UK portfolio. It will play an important part in meeting our investment objectives, helping to deliver long-term inflation-linked cashflows to our investors.”
Lightsource bp was advised by TLT and JLL throughout the process, and Schroders Greencoat was advised by Norton Rose Fulbright and Everoze.
Fire safety experts Global HSE Group are launching their Global Academy during Fire Door Safety Week, 23rd – 27th September 2024.
The Global Academy specialises in elevating professional knowledge in the fire safety sector. The recognised qualifications have been designed for newcomers to the fire safety sector, for those already working, and CPD for upskilling experienced professionals.
Global HSE Group has worked with the Awarding Body of the Built Environment (ABBE) to create more than just a selection of courses, but industry recognised qualifications.
Level 3 Award in Fire Door Inspection
Level 3 Award in Understanding, Maintaining and Repairing Fire Doors
Level 3 Award in Understanding and Installing Fire Doors
Level 3 Award in Understanding and Installing Passive Fire Protection
Ross O’Loughlin, Director at Global HSE Group commented, “We created Global Academy as we knew we had the skills and expertise within the business to upskill and enhance individual knowledge within the fire industry.”
For more information about Global HSE Group or Global Academy visit here
With just one week remaining until nominations close for the East Midlands Bricks Awards 2024, ensure to submit your entries for the annual celebration of the property and construction industry by Thursday 5th September.
The Bricks shine a light on the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools. We also highlight the work of architects, agencies and those behind large schemes.
Take this chance to showcase exceptional new commercial and residential developments, those demonstrating a leading position in sustainability and design excellence; gain recognition as outstanding developers, architects, contractors, and agents, as well as for significant deals; and ensure efforts in corporate social responsibility are rewarded, from eco initiatives to charity work, to social value schemes.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:
Overall winner (this award cannot be entered, with the winner, and recipient of a year of marketing/publicity worth £20,000, selected from those nominated for the event’s other awards)
Nominations end Thursday 5th September
A glittering awards ceremony revealing winners will take place on Thursday 3rd October (4:30pm – 7:30pm) in the Derek Randall Suite at the famous Trent Bridge Cricket Ground, also offering the perfect opportunity to forge new contacts with property and construction professionals from across the region.
The event will additionally feature Paul Southby, partner at Geldards LLP, chair of the Advisory Board to Nottingham Business School, chair of Broadway independent cinema, trustee of Clean Rivers Trust, chair of Nottingham Partners, board member of Marketing Nottingham and Nottinghamshire, and former High Sheriff of Nottinghamshire, as keynote speaker.
Guests network at the East Midlands Bricks Awards
Tickets can now be booked for the East Midlands Bricks Awards 2024 – click here to secure yours.
Connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region.
Leicestershire-based e-bate Limited has been acquired by ebate Software Limited.
ebate Software Limited was formed from Evolved Ideas, a provider of bespoke software development, technology consultancy, and staff augmentation services.
Founded in 2019, e-bate Limited established itself in the rebate management industry, offering software solutions that help organizations across various sectors, including automotive, pharma, retail, and construction, to manage complex and high-value rebate programs.
The acquisition is not just a merger of two companies, as with the acquisition ebate Software Limited is forming a partnership with Enable, the rebate management platform. This strategic alliance aims to revolutionize rebate management, making it more modern, efficient, focused on financial outcomes, and overall more data-driven.
Colette Wyatt, CEO of Evolved Ideas and an original founder of e-bate Limited, said: “This is an exciting milestone for Evolved Ideas, and for the rebate management industry. In acquiring e-bate Limited, we’ve ensured that the company’s customers will continue to receive a high level of service. And in partnering with Enable, we are bringing about extensive technical capabilities and ensuring firm financial foundations.”
Andrew Butt, founder and CEO of Enable, said: “We’ve created this partnership with Evolved Ideas, and indeed have invested financially into its success, in order to add additional value for rebate strategists. Rebate management is undergoing a transformative shift due to advancements in technology, and this is leading companies to work together to drive additional innovation and set new standards for the industry.
“Enable’s acquisition of Profectus’s Rebate Deal Management arm in 2022 is representative of this, and so is our recent announcement of AI-based analytics for rebates. Followed now with this strategic partnership with Evolved Ideas, we are taking a significant step forward in our mission to enable trusted trading relationships where companies serve customers better together using the best incentive there is — rebates. By combining strengths, we are not just enhancing service delivery but actively shaping the future of the industry.”
New figures from KPMG UK’s mid-year Fraud Barometer show that money laundering has been the most common fraud type by value in the last six months.
Nine cases have been heard in UK Crown Courts collectively worth £128.2 million so far this year. With the UK regularly cited as a hub for illicit finance, it is positive that more suspected perpetrators of this crime are appearing to be prosecuted.
The research, which records alleged fraud cases with a value of £100k and above heard in UK Crown Courts, has revealed 122 fraud cases in total were heard in the first six months of the year. This is up from 105 cases during the same period in 2023.
By contrast, fraud value was just over £305 million, a 14% drop compared to the first six months of the previous year, when the total fraud value stood at £354.2 million.
Roy Waligora, Partner and Head of UK Investigations at KPMG, said: “Money laundering continues to be a problem in the UK due to the complexity and sophistication of financial systems that can be exploited for illegal activities. It will be interesting to see if the relatively new requirement for overseas entities to be registered at Companies House will result even more of these cases reaching the courts soon.”
The public sector has been the biggest victim of fraud in terms of value so far in 2024. 26 fraud cases related to the government have been heard, with a combined value of £193.4 million, an increase of 30% compared to the same period in 2023.
The general public also continues to bear the brunt of fraud, with 41 cases totalling £33.2 million being heard in the UK’s courts during the first half of 2024.
Roy Waligora observed: “Greater focus on fraud in the public sector may have contributed to more effective identification and prosecution of fraudulent activities against the government. This proactive approach to tackling fraud may also result in a higher number of similar cases being seen during the second half of the year.
“However, UK courts remain under pressure to address high volumes of fraud at a time when the UK justice system is also under pressure to tackle hard crime. The widely expected publication of guidance on what constitutes ‘reasonable procedures’ by Government will kickstart the timeline for corporates to implement improved fraud management and may make the prosecution of fraud somewhat simpler.”
When examining the most common type of fraud, account takeover fraud was the highest by volume in 2024 so far. 16 cases with a combined value of £7.2 million have reached the UK Crown Courts in the last six months. This was followed by fraud related to counterfeit, pirated, or below stated quality goods (15 cases) and embezzlement (15 cases).
Roy Waligora added: “Methods for perpetrating account takeover fraud are becoming more sophisticated, so it is promising to see that so many of these criminals are being brought to justice. However, with UK Finance reporting 121,650 cases of account takeover fraud in the whole of 2023, it’s clear that only a tiny fraction of these criminals are brought to justice.”
Work is on track to be completed at the brand new planetarium at Sherwood Observatory by the end of November.
The dome is now ready to be transformed into the planetarium which will transport visitors out of this world.
Work is now due to start on the internal areas with a specialist planetarium contractor coming in to fit it out with everything it needs – including the screens and the projectors.
It will feature 59 seats as well as disabled access with a 10 metre diameter screen that will go inside the dome showing tours of the solar system and beyond.
The project team will also get to work on the groundwork outside of the planetarium to get it ready to welcome visitors.
Councillor Matthew Relf, Executive Lead Member for Regeneration, Growth and Local Planning at Ashfield District Council, said: “It is wonderful to see construction of the new Planetarium and Science Discovery Centre nearing completion. It has been a monumental effort by all involved.
“It will be a fantastic place for schools and youth groups as well as individuals and families to come and see shows about space and about science. We know this will light the fire and passion for future scientists and engineers in the area.
“It has been a privilege to be part of the journey of seeing this move from an initial pitched idea while walking around the dark Victoria water tank, to securing the funding and now seeing the space transformed into a modern and exciting facility. I could not be more excited to see my first show in the finished planetarium.
“This really will be an incredible asset for the District and broader region and will inspire so many people with the wonders of space and inspire many onto new and exciting careers.”
The planetarium construction is part of Sherwood Observatory and Ashfield District Council’s development to create a Science Discovery Centre and planetarium at the Observatory in Sutton.
The plans for the site aim to create a unique, world-class facility that will rival those elsewhere in the UK. The observatory, on Coxmoor Road, sits alongside a Victorian subterranean reservoir which will be sympathetically transformed into an education and exhibition space. The original features of the reservoir, such as the intricate brick arches, will be kept, preserving the history of the building.
Steve Wallace, Planetarium Project Manager, said: “This is going to be a cutting edge facility and it has been fascinating to work on. We are now moving to the next stage where a specialist planetarium creator will be coming in to transform the dome.
“It is a very unique bit of software that offers theatrical shows and give visitors a tour of the solar system where they can go from planet to planet and then out into the wider Milky Way and Universe.”
A Nottingham charity that empowers young people to break the cycle of crime and gang criminality will soon be receiving additional support thanks to a new partnership between Nottingham Venues and 200 Degrees Coffee.
Nottingham Venues, the collection of hospitality destinations located on the University of Nottingham’s campuses, has announced that it will be supporting the charity Switch Up by changing the coffee it uses in its venues to 200 Degrees’ Switch Up Blend.
The blend will be served daily across Nottingham Venues’ Spokes Café, Jubilee Hotel and Conferences, and Orchard Hotel. For each 1KG of coffee sold, 200 Degrees will donate £1 to Switch Up.
Stephanie Moss-Pearce, Director of Marketing at Nottingham Venues, says: “We employ over 270 people and want all our team members to feel that they have the opportunity to progress. Unfortunately, for thousands of young people across our city, they do not feel they have opportunity and face immense struggles in which they are not supported.
“Switch Up provides that support and helps to steer young people onto the right path. The charity is an immense force for good in Nottingham and we are committed to furthering the excellent work of Dr Marcellus Baz and his colleagues, initially through our new coffee partnership.”
The coffee partnership is the first step in an ongoing programme of support Nottingham Venues will provide to Switch Up, including hosting a number of its upcoming fundraising events. More details will be announced in the autumn.
Tim Moss, Co-Founder of 200 Degrees Coffee, says: “Through our Switch Up coffee blend we have donated thousands of pounds to Switch Up in the past two years and we are proud to support the charity. It is great to see other Nottingham companies getting on board and helping our city’s young people through stocking the Switch Up blend.
“The coffee is not only improving lives in Nottingham, but also in Guatemala where it’s sourced. The coffee is produced exclusively by female farmers, and by providing women artisans with skills and income opportunities, our importer Volcafe is able to help transform cycles of poverty to cycles of prosperity – something that Switch Up is doing in Nottingham.”
Dr Marcellus Baz, Founder and CEO of Switch Up, says: “Establishing partnerships with leading businesses in Nottingham like 200 Degrees and Nottingham Venues is essential for us to continue our mission. We now rely solely on fundraising and donations to fund our work and I’m hugely grateful for all our supporters. I am looking forward to developing our partnership with Nottingham Venues over the coming months.”
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