Derby security business expands through buy out
Derby-based Monarch Security have bought out another local company and taken a step further in their goal to become one of the region’s largest security and executive protection companies.
Monarch Security, based at Oberoi Business Hub in Pride Park, was set up during the pandemic by Farhaan Bhatti and Phil Wright who have more than 30 years’ combined experience in the industry.
The company was approached by Leigh Baldwin, the owner of Burton-based Security Kings, to take over his business – incorporating its clients and staff into Monarch Security’s operations.
The buy-out increases Monarch Security’s team which provides a range of services including personal protection, mobile patrols, manned guarding, key holding and alarm response for clients across the East Midlands as well as nationally and internationally.
Security Kings has been established since 2017 and provides a wide range of services to businesses and residents including retail and site security, alarm response and key holding.
Mr Baldwin is now concentrating on his new business Liberty Maze which provides supported housing for young people in care in the Burton and Derby areas.
He said: “Having built up a successful business, I was keen to diversify and the only people I trusted to take over Security Kings were Farhaan and Phil at Monarch Security.
“We have worked together for many years and I know that both the Security Kings clients and staff are in safe hands.”
Monarch Security co-director Phil Wright, whose expertise includes providing close security for high profile celebrities and members of several Royal families in the Middle East and Far East, continued: “We have achieved a great deal in a short space of time and merging Security Kings operations into our own is an important step in our expansion plans.
“We are particularly pleased with how we have grown in our own region of the East Midlands – expanding our local teams and vehicle fleet to protect premises and sites for businesses, organisations, individuals and families.”
Farhaan Bhatti continued: “The approach from Leigh at Security Kings reflects our reputation for service excellence and the investment we have made in our systems, fleet and calibre of team members.
“Our goal is to be one of the region’s largest security companies and we welcome the clients and staff from Security Kings who will be an important part in our continued success.”
Town Deal projects take shape in Long Eaton
Millions of pounds of investment in Long Eaton are making a positive impact for residents and businesses.
The Long Eaton Town Deal projects – made possible following Government funding of £25 million in 2021 – are reaching the development phase, with some now complete.
New lighting is now in place at West Park; 42 low-energy lampposts light up an extra 1.2 kilometres of pathway, and work has started on the park’s events field which will be a showcase venue for open-air concerts and outdoor events.
Work to put in place a new iconic bridge over the canal from Broad Street to the park and create an attractive waterfront where people can relax will start in January.
The design of a new bridge at the former Britannia Mills – which will form part of a much-improved walking and cycling network – is due to be finalised. Planning permission is expected in September with work anticipated to start in March.
Work continues to convert listed outbuildings at Long Eaton Town Hall to create a modern business hub providing managed workspace units for local businesses.
As well as this, Erewash Borough Council recently acquired all the properties at Galaxy Row which includes a former cinema. It is now in the process of finding a development partner so that work can begin on the exciting new project which will include new commercial space and homes.
Richard Ledger, chair of the Long Eaton Town Deal Board, said: “Years of planning has gone into these major projects, so it is fantastic when you start to see all the hard work paying off. In the not too distant future residents and businesses will start to notice more of the projects taking shape and I’m excited for the result.”
Councillor James Dawson, vice chair of the Town Board, said: “The Long Eaton Town Deal is a step closer to its aim of revitalising the town and improving facilities for residents. We will make sure that residents continue to be updated along the way.”
A High Street project to revitalise the town centre, led by the local Highways Authority Derbyshire County Council, has been delayed due to design changes, with a new completion date of October 2026.
Nearly 1,500 homes to be built on East Midlands brownfield sites
Nearly 1,500 homes are set to be built on brownfield sites across the region following a cash boost from East Midlands Combined County Authority (EMCCA).
A dozen schemes in Derby, Derbyshire, Nottingham and Nottinghamshire have been identified for grants to support housing development on brownfield land through the government’s Brownfield Housing Fund, which has allocated nearly £17m to EMCCA to deliver the developments.
Mayor of the East Midlands, Claire Ward, said: “I’m delighted we’ve been able to kickstart a housing revolution across the region so quickly and begin the challenges of delivering the homes people here need.
“These housing developments will see under-used sites brought back into life in our cities and communities with work starting on some sites. This is a significant stride toward unleashing the potential of brownfield regeneration across our region.”
EMCCA received 50 expressions of interest in bidding for funding for schemes across the region. Independent experts Cushman and Wakefield assessed the applications based on criteria including the ability to get schemes underway quickly.
Now the schemes will undergo further due diligence exercises ahead of business cases for each development being submitted to EMCCA’s Board for final approval.
“It’s really encouraging that applications for this funding were oversubscribed and I’m now working with Government to develop more opportunities for new homes on brownfield land and seeking support for extra funding to get more schemes underway.
“We’re also talking to Homes England about other ways to kickstart housebuilding across the region.”
Ben Pretty, Partner in Cushman & Wakefield’s national land, development and planning team, said: “We received a high number of quality expressions of interest and have been through a rigorous sifting process to identify those most aligned to the EMCCA and MHCLG criteria.
“We look forward to working with EMCCA and scheme promoters to progress the 12 shortlisted schemes through to delivery on site to unlock around 1,500 new homes across the region.”
Jo Nugent, MPP Midlands Director at Homes England, said: “Transforming brownfield sites into new communities with much needed new homes should benefit residents across the East Midlands.
“We’ve been working in partnership with EMCCA to bring these brownfield sites forward, and we now look forward to continuing to support these developments, providing expertise for the due diligence stage, and, ultimately, deliver high-quality homes, and thriving places in the East Midlands.”
Alstom’s Derby facility to refurbish CrossCountry’s Voyager fleet in £60m upgrade
Alstom has signed a contract to refurbish CrossCountry’s Voyager trains, transforming the on-board experience for customers.
The contract, valued at around £60 million, will see the trains receive an interior refresh – including new seats and tables – while their exteriors will be repainted in CrossCountry’s new livery.
The work will be carried out at Alstom’s historic Derby Litchurch Lane facility and encompasses 312 cars, comprising 136 Voyager (Class 220) and 176 Super Voyager (Class 221) vehicles respectively.
252 cars belong to the existing CrossCountry fleet, while an additional 12 trains – totalling 60 additional carriages – will be added following their release from Avanti West Coast.
Additional enhancements will see the trains fitted with new carpets, improved lighting and a new passenger counting system. Sustainability will be at the heart of the refurbishment; the Voyager’s new seats will be at least 95% recyclable and 98% recoverable, while lighter materials used throughout the trains will help reduce fuel and carbon emissions.
Design work will commence immediately, with physical work in Derby set to commence from next year until 2027. Around 100 Alstom staff will work on the contract, supported by many more in the company’s UK supply chain.
“For more than 20 years, CrossCountry’s Voyagers have proudly served towns and cities across Great Britain – travelling millions of miles in the process. We now look forward to giving these iconic Alstom-built trains some well-deserved TLC with a comprehensive overhaul that will include new seats, on-board technology enhancements and an exterior repaint,” said Peter Broadley, Managing Director, Services UK and Ireland at Alstom.
He added: “Not only will the refurbishment delight fare-paying customers with increased levels of comfort and accessibility, the overhaul programme will support UK suppliers and skilled jobs across the country.”
Owned by Beacon Rail, who are funding the upgrade, the Voyagers operate across the CrossCountry network, from Aberdeen, Scotland, to Penzance, England.
“We’re delighted to be moving forward on the refurbishment of our Voyager fleet which will transform the passenger experience for customers on our long-distance routes,” said Adrian Hugill, Fleet and Engineering Director at CrossCountry.
He added: “We look forward to working with colleagues at Alstom and Beacon Trains to give the ever-impressive Voyager fleet a new lease of life on the CrossCountry network.”
Last year, Alstom signed an eight-year extension to its Train Services Agreement (TSA) with CrossCountry. The contract extension, valued at around £825 million, sees Alstom continue to maintain, overhaul, service and clean CrossCountry’s Voyager and Super Voyager fleet until 2031 at their primary depot – Central Rivers in Burton upon Trent.
Meanwhile, in June 2024, Alstom signed a contract worth around £370 million for 10 new nine-car Aventra trains for the Elizabeth line to help meet growing passenger demand.
Like the rest of the fleet, the additional Aventra electric multiple unit (EMU) Class 345 passenger trains will be built at Alstom’s Derby Litchurch Lane Works, the only UK facility that designs, engineers, builds and tests trains for domestic and export markets.
Barratt’s £2.5bn purchase of rival Redrow Homes could complete this week
Leicestershire-based housebuilding giant Barratt’s £2.5 billion purchase of rival Redrow Homes looks set to complete later this week, the business has revealed.
Earlier this month, the Competition and Markets Authority (CMA) concluded a Phase 1 investigation into the deal. The CMA has found that overall, the merger does not raise competition issues except for concerns regarding the supply of new build private residential housing in one of the more than 400 local areas where the two companies overlap.
Barratt and Redrow are continuing to engage with the CMA with the objective of agreeing suitable undertakings which would address its concerns and avoid the need for a reference to a full Phase 2 investigation.
Clearance from the CMA is a condition to the combination. Further to the CMA’s announcement on 8 August, however, Barratt has waived the CMA condition and the parties now intend to complete the combination this week.
In a statement to the London Stock Exchange, Barratt added: “This removes uncertainty for the employees, supply chain and wider stakeholder groups of both businesses, and allows us to accelerate the creation of an exceptional UK homebuilder in terms of quality, service and sustainability, which in turn can accelerate the delivery of high-quality, sustainable homes and communities for customers across the UK, addressing the country’s need for homes.”
In accordance with the CMA’s standard practice and following completion, Barratt and Redrow expect the CMA to impose an initial enforcement order (IEO) on the parties, preventing any action which might prejudice the CMA’s process. As a result of the IEO, whilst integration planning can continue, Barratt and Redrow would be prevented from integrating their two businesses, until the proposed undertakings have been agreed with the CMA or the CMA otherwise agrees to such actions taking place.Doubts raised over Frasers Group deal as Ted Baker shuts stores
Myriad Ted Baker stores are shutting as doubts are raised for a future licensing partnership with retail giant Frasers Group.
According to reports in Sky News, talks between the Shirebrook-based group and Ted Baker’s owner Authentic have broken down, with sources close to Authentic indicating that there were no ongoing talks between the two, while property industry sources suggested there had been talks of reopening a few Ted Baker shops in the last few weeks.
Administrators of Ted Baker’s partner No Ordinary Designer Label are overseeing the closure of 31 remaining shops in the UK.
A source from one store told Sky News their last trading day would be Tuesday.
PwC fined £15 million
The Financial Conduct Authority (FCA) has fined PricewaterhouseCoopers LLP (PwC) for failing to report to the regulator their belief that London Capital & Finance plc (LCF) might be involved in fraudulent activity. This is the first time the FCA has fined an audit firm.
PwC encountered significant issues throughout their 2016 audit of LCF. A senior individual at LCF acted aggressively towards auditors, and the firm provided PwC with inaccurate and misleading information. PwC found the audit very complex, and it took considerably longer to complete than anticipated.
LCF’s actions, and PwC’s own work on the audit, led PwC to suspect that LCF might be involved in fraudulent activity. PwC was duty bound to report those suspicions to the FCA as soon as possible, but they failed to do so.
PwC eventually satisfied itself that LCF’s 2016 accounts were accurate. Whether or not its suspicions remained, it still had an obligation to report its previous concerns to the FCA.
LCF went into administration in January 2019 after the FCA ordered the firm to withdraw misleading promotional material for the sale of mini-bonds. Thousands of investors were misled because they were not given the full picture about the risks of the product. The Serious Fraud Office has an open criminal investigation into the failure of LCF.
Therese Chambers, Joint Executive Director of Enforcement and Market Oversight at the FCA, said: “Auditors have a central role to play in keeping our markets clean. They have privileged access to information and they are required by law to report suspicions of fraud to the FCA.
“There were a number of red flags that led PwC to suspect fraud. They should have acted on them immediately. Their failure to do so deprived the FCA of potentially vital information.”
Industrial site changes hands for first time in almost a century
A Derby industrial complex has new owners for the first time in nearly 100 years.
The 1.3-acre site on Bateman Street had been the home of chemical and cleaning product manufacturer Quadralene since 1930. However, Quadralene was acquired by global medical technology leader, Getinge in 2020 and the plan was to relocate Quadralene into new premises on Pride Park.
Salloway Property Consultants were appointed by the property owners to assist with the gradual relocation of Quadralene and to sell the property once it had been vacated. The premises, which comprise a number of interconnecting buildings totalling some 26,000 sq ft on a large site, had been adapted to suit Quadralene’s specific use.
“I am thrilled that the sale has now been completed,” says William Speed of Salloways. “It was very unlikely that an occupier would be found who could utilise the site in its current configuration and so it is no surprise to see that the new owners intend to regenerate the site.
“Despite a constant flow of enquiries since the site came to the market, it wasn’t a straightforward process, but it’s great to reach a satisfying conclusion for our client here.”
2i Investments, the new owners, are looking forward to making a start on the redevelopment. A spokesman said: “We have a number of plans for the site currently with different options presenting themselves. Ultimately, we are hoping to develop something that is attractive to the current market and offers flexibility to any occupiers that may be interested.”
Speed concluded: “There is an acute shortage of small to medium sized sites suitable for redevelopment for light industrial units and despite its challenges, the Bateman Street site could have been sold several times over. We would be delighted to hear from anyone considering selling similar sites.”
Nottingham entertainment venue renews naming rights with Motorpoint
Nottingham Arena – the largest venue in the East Midlands – has extended its successful naming rights partnership with Motorpoint for another six years.
Known as the Motorpoint Arena Nottingham since 2015, the renewal means the relationship between the UK’s largest independent used car retailer and the 10,500-capacity venue in the heart of the city will continue until at least 2030.
As part of the renewal, Motorpoint will expand the scope of the partnership and introduce a range of new initiatives with the venue’s support.
Andrew Thomson, Chief Digital Officer at Motorpoint, said: “We’ve been working with the Arena since 2015 and are delighted to be extending our partnership. As part of this renewal, we’ll be focusing our efforts on offering event goers something extra when visiting the Arena.
“We’re going to be featured much more prominently on the digital screens throughout the venue – making it easier for event goers to be kept up to date with all the exciting initiatives we’re running online and across our 20 stores nationwide.”
Martin Ingham, CEO, Motorpoint Arena, said: “The Motorpoint Arena attracts some of the biggest names in live music, comedy, family entertainment and indoor sporting spectacles to the city.
“These all entice a local, regional and national audience that provides Motorpoint with an ideal opportunity for their brand to engage with fans enjoying wonderful experiences during these exciting events.
“Naming rights partnerships are optimised for both parties with longevity and great activations and we are delighted to continue this successful relationship for many more years to come.
“As we head into our landmark 25th anniversary year in 2025, we have much to celebrate but, more importantly, much more to look forward to as we deliver cultural, social, sporting and economic benefits to Nottingham and the East Midlands with a great commercial partner by our side.”
“The East Midlands Bricks Awards is a fantastic opportunity to recognise the achievements of our region’s property and construction sector,” says Derby City Council
With only a short time left to make nominations for the East Midlands Bricks Awards 2024, Derby businesses are being encouraged to enter the prestigious event.
Councillor Nadine Peatfield, Derby City Council Leader and Cabinet Member for City Centre, Regeneration, Strategy and Policy, said: “We’re passionate about building a vibrant city for the people of Derby through an ambitious programme of regeneration projects. We’re already seeing the benefit of working with talented development partners and are looking forward to working with many more in the future to bring our vision for Derby to life.
“The East Midlands Bricks Awards is a fantastic opportunity to recognise the achievements of our region’s property and construction sector and I’m looking forward to celebrating the sector’s skills and expertise.”
A key event in the business calendar, showcasing the exceptional work of the region’s property and construction industry, the East Midlands Bricks Awards will take place on Thursday 3rd October, at the Trent Bridge Cricket Ground (4:30pm – 7:30pm). Revealing the winners in a glittering awards ceremony, the evening also offers an opportunity to establish new connections with property and construction professionals from across the region, and hear from keynote speaker Paul Southby.
Nominations for the annual event are open, and now is the ideal time to make your submissions, ahead of the deadline – Thursday 5th September.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Tickets can now be booked for the 2024 awards event, click here to secure yours.
Taking place in the Derek Randall Suite at the Trent Bridge Cricket Ground on Thursday 3rd October, from 4:30pm – 7:30pm, connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region.
Attendees will also hear from keynote speaker 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.
Dress code is standard business attire.
Thanks to our sponsors:
Award categories include:
- Most active agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- 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
Tickets can now be booked for the 2024 awards event, click here to secure yours.
Taking place in the Derek Randall Suite at the Trent Bridge Cricket Ground on Thursday 3rd October, from 4:30pm – 7:30pm, connect with local decision makers over nibbles and complimentary drinks while applauding the outstanding companies and projects in our region.
Attendees will also hear from keynote speaker 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.
Dress code is standard business attire.
To be held at:
