Rolls-Royce SMR has signed a multi-million-pound contract and Memorandum of Understanding (MoU) with nuclear services and technology company, BWX Technologies.
Signing the detailed design contract for the nuclear steam generators is another step forward in the development of the Rolls-Royce Small Modular Reactor (SMR).
BWXT subsidiary, BWXT Canada Ltd based in Ontario, has been producing steam generators for the nuclear energy industry for more than 60 years and has supplied more than 315 steam generators to plants around the world.
Ruth Todd, Rolls-Royce SMR’s operations and supply chain director, said: “The agreement with BWXT for the design of the nuclear steam generators – reinforced by an MoU to support the first units in a global fleet of Rolls-Royce SMRs – is another major stride forward for our organisation.
“Sourcing these critical components from world-leading suppliers is part of our ‘designed for delivery’ approach – combining modularisation and proven nuclear technology – significantly reducing cost, construction time and removing project risk. This is undoubtedly an important milestone, and there remain a huge range of opportunities for the supply chain to become involved and contribute to this transformational programme.”
John MacQuarrie, president for BWXT Commercial Operations, added: “This agreement is a strong example of how BWXT is positioned to enable nuclear reactor developers around the world to meet the growing demand for clean, reliable energy. We look forward to further developing this collaboration with the team at Rolls-Royce SMR and continuing to build out this robust nuclear manufacturing chain.”
The agreement includes development of a localisation strategy to support future manufacturing and related activities in the UK, Czech Republic and across Europe – maximising opportunities for local suppliers to engage in this work supporting jobs, growth and skills, and delivering meaningful benefits to local communities.
To enable its localisation strategy, Rolls-Royce SMR will host supplier days in both the UK and Czech Republic.
These events are the latest in a series that will provide updates on the opportunities ahead across critical categories, including pumps, valves, heat exchangers, tanks, vessels, turbine island and aspects of civil engineering and construction.
Rolls-Royce SMR has multiple SMR commitments in Europe, having been selected as preferred bidder in the Great British Energy – Nuclear SMR competition, and by European utility, ČEZ, to build up to three gigawatts of new nuclear power in the Czech Republic.
East Midlands take-up growth dominates Big Box market for Avison Young
The East Midlands continues to dominate as the most active region in the UK Big Box market for Avison Young, accounting for 39% of all take-up and contributing to a third consecutive quarter of growth, the highest level of activity since Q3 2022.
Most of the region’s activity was located at the Prologis-owned DIRFT in Daventry. Occupiers include Marks & Spencer (acquiring a 1.3m sq ft warehouse), GXO (acquiring a 328,000 sq ft logistics warehouse) and XPO (acquiring a 280,000 sq ft unit).
Overall, the market recorded Grade A take-up of 7.2 million sq ft between July and September 2025, highlighting sustained momentum across the sector, but supply constraints could threaten to slow progress.
Across the UK, retail occupiers took the highest share of space at 42%, driven by significant deals involving Furniture Village, Tesco, and Marks & Spencer’s Northamptonshire development, the largest contributor.
David Willmer, principal and managing director, industrial and logistics at Avison Young, said: “We’ve seen another strong quarter of big box occupier activity – just 6% below the five-year Q3 average – underpinned by strong retail demand. The East Midlands continues to cement its position as the UK’s industrial heartland, with a notable surge in activity.”
Nationally, the year-to-date take-up is 9% higher than 2024, with full-year volumes anticipated to surpass last year’s total. Investment volumes in Q3 reached £389 million, up 30% year-on-year but still 48% below the five-year Q3 average.
Despite demand peaking, there are warning signs of challenges on the horizon. Supply continues to be unchanged from the previous quarter at 55.3 million sq ft, dominated by second-hand units at 44% of the total.
Only 16% of space is under construction, limiting the immediate options for occupiers, and the current supply pipeline is also heavily weighted towards smaller units (100,000 sq ft – 399,999 sq ft), which made up almost nine in every ten units available (88%), severely restricting options for occupiers with larger space requirements.
With occupier appetite showing no sign of slowing, the market’s next test will be how quickly new, larger-scale stock can come forward to meet demand. Sustained take-up growth is a positive signal, but without fresh supply, that momentum could soon be constrained.
David added: “While the outlook for the sector remains highly positive, with take-up expected to surpass 2024 levels, persistent stock constraints are becoming a growing concern. Only around one in ten units currently on the market exceeds 400,000 sq ft – a real challenge given the unprecedented demand for larger retail space, exemplified by Marks & Spencer’s 1.3m sq ft facility in Northamptonshire.
“To sustain this growth trajectory, the market needs to accelerate the delivery of new, large-scale Grade A space. Without fresh supply coming through, there’s a real risk that momentum could stall just as confidence returns to the sector.”
Center Parcs chief corporate officer appointed CBI East Midlands Council chair
Raj Singh-Dehal, chief corporate officer at Center Parcs UK & Ireland, will be taking over as chair of the CBI’s East Midlands Council in the new year from Danielle Gillett, chief executive of EMB Group, who has held the role for the past two years.
A qualified solicitor and business professional, Raj Singh-Dehal brings over 25 years of experience in strategic leadership across legal, risk, HR, ESG, procurement, technology and strategic projects. Raj has built a career working across private practice, financial services and large businesses.
Raj brings extensive experience of leading across multi-disciplinary teams and business challenges and of working in fast-paced environments. Over the years, Raj has worked across a wide range of stakeholder influencing and management activity across the UK and in Ireland.
Raj is a passionate advocate for diversity, equity and inclusion whether in the workplace, in education or broader settings, with a particular interest in social mobility.
Nikki Paterson, CBI Midlands regional director, said: “I’d like to thank Danielle for her support to the CBI team and our members throughout the past two years. She’s championed the region through her work with the CBI and other regional and local organisations, and I would like to thank her for her commitment as chair.
“I’m really pleased to welcome Raj as Regional Chair from January. Raj brings a wealth of experience and strategic insight from his role as Chief Corporate Officer at Center Parcs, which will be hugely valuable as we continue to champion the interests of businesses across the region. I look forward to working with him to ensure the East Midlands remains a dynamic and competitive place to do business.”
New CBI East Midlands Council chair, Raj Singh-Dehal, said: “Having lived and worked in the East Midlands for 20 years, I’ve seen its significant transformation. With excellent universities, superb connectivity, and a diverse business base, from micro-businesses to multi-nationals, the region is uniquely positioned to drive economic growth and national regeneration.
“The CBI is the essential voice needed to champion this agenda, and I look forward to ensuring our collective influence shapes Government thinking.”
Outgoing CBI East Midlands Council chair, Danielle Gillett, said: “It’s been an honour to be in this role and to have contributed to the CBI through a time of economic turbulence and change. Over the past couple of years we’ve clearly demonstrated the value of the CBI’s strategy and unique economic insights to policy makers and members, as well as continuing to amplify the voice of businesses from the East Midlands.
“It’s great to know that the leadership of the Regional Council goes forward in very capable hands with Raj picking up the reins, supported by the CBI’s regional team. I wish him all the best and he’ll continue to have the support of the diverse and outstanding business leaders who comprise the Council, and the wider business community who we represent, too.”
Stepnell reports steady growth and plans for expansion
Stepnell has recorded its fifth consecutive year of profit, with turnover rising to £112 million and expected to reach £140 million in the current financial year. The construction firm attributes this sustained performance to disciplined sector targeting, regional expansion, and its participation in framework projects.
The company recently established a new regional base in Liverpool to strengthen its presence across the North West. It has also benefited from high levels of repeat business and selective bidding, supported by several senior appointments and refined governance processes designed to manage risks in a volatile construction market.
Stepnell has increased its investment in directly owned plant, helping to reduce operational costs and improve delivery efficiency. Its cash reserves have also grown due to stronger financial management, including tighter payment controls and account closures.
Tom Wakeford, chief executive at Stepnell, said:
“I am really pleased with where Stepnell is. We are ambitious and are currently focusing on setting longer term plans for the business. The organisation is in a strong position heading into 2026, with 96% of its planned revenue being secured by August.”
The release of its year-end accounts provides Stepnell an opportunity to take stock of its position, Tom added.
“We can rightly be proud of Stepnell’s performance over the most recent reporting period. This ever-improving position is indicative of our ongoing focus in making sure we are the right construction partner for each new scheme we take on, and our experience has shown that the earlier we are engaged on a project, the greater the probability the scheme will be a success for both us and our client.
“We’re proud to say that more than three-quarters of our work is with repeat clients where our previous projects have exceeded their expectations, a key driver being our ongoing focus on delivering excellent engagement.”
These results mark Stepnell’s first full year of trading since its demerger in September 2025, which transferred the business to Wakeford and his family. The company remains focused on steady expansion, improved profitability, and maintaining financial resilience as it moves into the next financial cycle.
Ilkeston leisure club placed on the market for new ownership
A major sports and leisure venue in Ilkeston, Derbyshire, has been put up for sale, marking a new chapter for one of the town’s most established fitness destinations.
The Manor, a long-standing health and racquet club, is being marketed by business property adviser Christie & Co. The site features international-standard squash courts, a multi-level gym, a dance and martial arts studio, a lounge bar, treatment rooms, and a fully equipped catering kitchen. It also includes a function space frequently used for events, parties, and weddings.
Located centrally in Ilkeston, the club operates on a membership model, with pay-as-you-go access available. It has served as a community hub for sport and fitness for nearly two decades.
Owned and operated by the Hayden family since 2007, The Manor is now being offered for sale as the family turns its attention to other ventures. The listing provides an opportunity for investors or leisure operators to build on the existing facilities or introduce new offerings, such as padel courts, subject to planning approval.
Gabriela Williams at Christie & Co commented, “This is a very exciting prospect which we expect to appeal to a wide range of potential buyers. It would be fantastic to see the building and the value it brings to the community thrive under new ownership.
“The club would be a great addition to an independent health and fitness operator’s portfolio, or a fantastic opportunity for a new start-up business. We encourage interested parties to get in touch with us.”
Christie & Co is inviting offers for the property’s long ground lease.
£175m decline in R&D tax relief claims by Midlands SMEs
There has been a marked fall in the number of SMEs in the Midlands making research & development tax relief claims, according to research by accountancy and advisory firm Azets.
The drop has prompted a specialist at the firm to warn that local businesses should use the valuable tax relief support – or lose it.
Chris Dale, a partner with Azets, issued the warning after analysing the latest HMRC figures for 2023-24.
There were 2,245 claims [3,350 in previous year] in the East Midlands, with a total cost of £120m [£215m in previous year]; Derbyshire and Nottinghamshire made 970 [1,395 in previous year], Leicestershire, Rutland and Northamptonshire 980 [1,545 in previous year] and Lincolnshire 295 [410 in previous year].
Manufacturing led with 835 claims [1,160 in previous year], followed by information & communication at 395 [545 in previous year] and professional, scientific & technical at 320 [450 in previous year].
Chris said: “We are finding that the reduced benefit for SMEs, the latest compliance rules and relatively high time and cost investment to make an R&D claim are discouraging SMEs, in particular smaller SMEs.
“The decrease is concerning because the funding helps encourage businesses to develop new technologies, which in turn benefit the regional economy.
“Innovation costs are considerable, yet successful innovation, whether a new product, service or process, can generate new revenues and additional tax, which then offset the relief. Companies with genuine claims should not be put off.”
Claims by SMEs – which account for nearly 99% of businesses in the UK – fell by nearly one-third compared to the previous tax year. Just under 47,000 R&D tax credit claims for 2023-24 were made overall, a fall of just over a quarter. Tax reliefs can be between £15 to £27 for every £100 spent on R&D, based on the government’s own figures.
Chris added: “The decrease, seen locally and across all the regions, is a crying shame because this kind of funding pays the people who help local businesses develop new and exciting technologies, which in turn grow the regional and wider economy.
“Innovation costs considerable money – and a lot of innovation wouldn’t happen without taxpayer support because loss-making companies wouldn’t risk bankrolling further financial hits and profitable ones may fear being dragged into the red without recourse to public money to offset R&D outlay.
“Yet successful innovation can generate new revenues for businesses and create new taxes which more than cover what was put in by the taxpayer. Companies with genuine claims should not be put off.
“Worryingly, the government’s figures show that SMEs aren’t making as many R&D tax credit claims, with a decrease of nearly one-third compared to the previous year, and this is undoubtedly a direct consequence of the latest compliance rules. Indeed, the number of claims last year for R&D tax credits by scheme overall was the lowest since 2016-17.”
The amount of tax relief claimed through the SME scheme in the UK fell by 29%, compared with the previous year, to £3.15 billion.
In comparison, claims for the larger companies’ RDEC scheme fell by 5%, although the amount of relief claimed rose by 36% to £4.41 billion.
According to HMRC, the provisional estimated amount of total R&D tax relief support claimed for 2023-24 was £7.6 billion, a decrease of 2% from the previous year and corresponding to £46.1 billion of R&D expenditure, which was 1% lower.
Regional allocation is based on the postcode of the company’s registered address, which might not correspond to where the R&D activity takes place.
HMRC states that it has included estimates for claims not yet received, with revisions expected in next year’s publication.
The information & communication, manufacturing and professional, scientific & technical sectors account for the greatest volume of claims, making up 72% of total claims and 71% of the total amount claimed.
Earlier this year, Azets sent a wish-list to the Chancellor about making the application process less fraught with difficulty following a tightening up on bogus claims.
On behalf of the Chancellor, the then-Exchequer Secretary to the Treasury James Murray MP responded, stating that the government is “committed to periodically evaluating the R&D reliefs to ensure they are as effective as possible and underpinned by a credible, up-to-date evidence base.”
The reply included that the government “recognises the important role that R&D plays in driving innovation and economic growth as well as the benefits it can bring for society.”
It was “committed to maintaining the generosity of the rates in both the merged R&D Expenditure Credit scheme and the Enhanced Support for R&D Intensive SMEs.”
The government stated that each £1 of public R&D stimulates between £0.41 and £0.74 of private R&D within the same year, and between £1.96 and £2.34 of private R&D over time.
In Azets’ letter to the Chancellor, attention was drawn to flaws in the claim system which have caused some significant cash delays for genuine claimants seeking to reinvest their credit on further R&D wages, prototypes and vital materials.
Mr Murray responded: “Merging the SME and RDEC schemes has simplified the system as there is now a single set of qualifying rules for the vast majority of R&D claimants. The enhanced support for R&D-intensive SMEs shares many of the merged scheme’s rules, albeit with a different rate mechanism. The Government will continue to consider longer-term simplifications and improvements to the effectiveness of the reliefs.”
Curve Theatre reports record year with £18.5m turnover
Leicester’s Curve Theatre has reported its most successful financial year to date, achieving an annual turnover of £18.5 million for 2024/25.
Between April 2024 and March 2025, more than 265,000 tickets were sold for performances at the venue. The programme included Made at Curve productions such as My Fair Lady, The Mountaintop and Fantastic Foxes, alongside national tours including Tina – The Tina Turner Musical and My Son’s a Queer (But What Can You Do?). The theatre also staged 132 accessible performances, including BSL-interpreted, captioned, and relaxed sessions.
Curve’s reach extended beyond Leicester, with its productions touring over 107 cities and drawing more than two million ticket sales. The year also marked the launch of the Kinky Boots UK and Ireland tour and the return of A Chorus Line, which completed a sell-out season at Sadler’s Wells.
As a registered charity, Curve raised over £1 million through donations, grants and sponsorship. Its creative engagement programmes attracted 27,500 participants, with more than 350 school groups attending performances. Around 1,000 artists participated in development programmes, supported by 1,220 hours of in-kind rehearsal space.
Speaking about the results, Curve’s Chief Executive Chris Stafford and Artistic Director Nikolai Foster said:
“We are immensely proud to report on another terrific year for our theatre — the most successful since we opened our doors in 2008. Not only did attendance reach an all-time high for audiences here in Leicester, but working in partnership with other theatres and commercial producers we were able to fly the flag for Curve around the UK and internationally, reaching over 2 million people.
Curve would not be the place it is today without the people who make it happen, and these outstanding results are a testament to the incredible team at Curve and the talents of our wonderful freelance colleagues. As always huge thanks to the support from our fantastic audiences, donors, sponsors, and our principal funders Arts Council England and Leicester City Council.
Whilst we are delighted to share such positive news, like most theatres we are operating in an ever-more challenging environment, with rising costs continuing to affect our operations. We urgently need to build sufficient funds for essential capital replacements to ensure Curve thrives into the future.”
Nearly one-third of audiences were first-time visitors, and 1,000 free tickets were distributed through community networks, reinforcing Curve’s commitment to accessibility and community engagement.
£25m investment fund to power East Midlands growth
The East Midlands Combined County Authority (EMCCA) has opened its Autumn 2025 Investment Fund, making up to £25m available to support projects that will drive growth, create jobs, and improve lives across the region.
The fund will back strategic, deliverable projects that align with the region’s ambition to build a fairer, greener, and more prosperous East Midlands.
Mayor of the East Midlands, Claire Ward, said: “This is a major milestone for the East Midlands. By launching this £25m fund, we are backing the brilliant ideas that deliver real results for local people.”
This funding round follows the EMCCA Board’s approval in September of a new “twin-tracked” investment approach – supporting both short-term deliverable projects and longer-term strategic programmes that can make a lasting difference.
About 75 project proposals were received though the expression of interest call, representing about £160m of investment opportunities – demonstrating strong demand and ambition across the East Midlands.
A shortlist of projects will now be invited to bring forward full business cases to secure investment.
Mayor Claire said: “We want to see bold, practical projects that will shape the future of our places and our people. This is about supporting businesses to grow, improving skills, and investing in the places we’re proud to call home.”
Alongside this funding round, EMCCA is evolving its investment approach. Future funding rounds will move towards a thematic, place-based approach. EMCCA will work closely with public and private partners to develop project portfolios that focus on shared priorities rather than traditional open competitions.
eComOne appoints ex Rise at Seven co-founder, Stephen Kenwright, as non-executive director
Lincoln-based Google Premier & Shopify Plus eCommerce marketing agency eComOne has appointed Stephen Kenwright, ex co-founder and former chief commercial officer of Rise at Seven, as non-executive director as the business enters its next phase of growth.
Stephen co-founded search-first creative agency Rise at Seven in 2019, serving first as COO and then CCO. During his tenure, he grew the agency to £7m in annual revenue, 110 staff, offices in Sheffield, Manchester, London and New York, and more than 70 industry awards before exiting after three years.
With over 13 years’ experience in leading agencies that have set the standard for high-quality digital experiences for global retailers, Stephen joins eComOne to support strategic operations and help the agency become the go-to eCommerce specialist for search and paid media in the UK.
Stephen Kenwright, non-executive director of eComOne, said: “I’ve known Richard and the eComOne team since I joined them on their eCom@One podcast a few hundred episodes ago (before it was cool), so I’ve watched them grow and enjoyed advising them along the way.
“I’m excited to make it official and help them accelerate the impact they’re already having on clients and the industry. I’d especially love to help put Lincoln on the digital map in the same way I’ve helped Sheffield and Leeds in previous businesses.”
Richard Hill, CEO and founder of eComOne, said: “Stephen has built and led one of the most exciting agencies in the UK and his experience will be invaluable as we continue to scale. I’ve followed his journey for years and have always admired the way he combines creativity, strategy and commercial thinking.
“Having him officially join us feels like a perfect fit at the perfect time, as we push to become the go-to eCommerce search and paid media agency in the UK and continue to put Lincoln on the digital map.”
eComOne was recently promoted to Shopify Plus Partner status, reinforcing its commitment to delivering world-class eCommerce marketing solutions. Stephen’s appointment comes at a pivotal time as the agency continues to scale nationally.
Amazon expands East Midlands footprint with £1.7bn investment
Amazon has channelled £1.7 billion into Derbyshire and Nottinghamshire since 2010, underscoring the region’s growing importance to the company’s UK operations.
According to Amazon’s latest Economic Impact Report, the investment has supported more than 8,000 full and part-time jobs in the East Midlands, alongside the upskilling of over 1,800 employees through training and career development schemes. Around 190 local workers have also joined its national apprenticeship programme since its introduction.
Amazon’s regional investment forms part of a wider plan to inject £40 billion into the UK between 2025 and 2027. The three-year expansion includes four new fulfilment centres, additional delivery stations, and upgrades to over 100 existing facilities. This nationwide rollout is expected to create thousands of full-time roles, including 2,000 each at new fulfilment centres in Hull and Northampton.
The company currently employs more than 75,000 people across the UK, with salaries starting from £28,000 outside London. New roles span robotics maintenance, mechatronic engineering, and workplace safety.
Amazon’s community engagement in the region includes volunteer initiatives, product donations, and partnerships with local charities. Nationally, the firm supports educational and social projects such as Amazon Future Engineer and the Multibank initiative, which redistributes surplus goods to families in need across the UK.
