Project management and property consultancy company sold to Leicester group

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Project management and property consultancy company Capital and Provincial has been sold to Bellrock Group. Established in 2010, Capital and Provincial provides client-focused and results-led project management, quantity surveying and property consulting services to a wide client base, from international corporations to developers and individuals across the UK and Europe. The company has a team of more than 20 consultants at its offices in Farnham, Surrey, and central London having become one of the leading operators in its industry, serving clients in the South of England in the corporate, hotel, hospitality, residential, technical and education sectors. Bellrock Group, headquartered in Leicester, is a provider of specialist risk-focused workplace and property management solutions with a turnover of £170million. Its team of 1,600 property and facilities professionals is located at 70 sites across the UK, working on behalf of clients with access to 700 carefully selected suppliers. “I’m excited by the opportunities the acquisition holds for us,” said Andrew Chisholm, Capital and Provincial Managing Director. “Being part of the Bellrock Group will open the door to scale and capabilities, whilst keeping the things that make us successful – our people, our relationships and our culture. “This package will enable us to strengthen our offering to our clients and continue to deliver our growth ambitions. “With exposure to new sectors, regions and clients, I’m especially positive about the career development potential for our Capital and Provincial people who make me proud every day. “It’s an exciting time for our clients and people alike.” Paul Bean, Bellrock Group CEO, added: “Capital and Provincial’s stable of loyal clients and enviable portfolio is testament to the depth of their capabilities and their exacting standards in delivering successful projects for clients who can now benefit from the offerings of the wider Bellrock Group. “I look forward to collaborating with the team as we explore the exciting opportunities ahead.” Daniel DiMarco, KBS Corporate Deal Executive who oversaw the transaction, explained Capital and Provincial had been keen to explore the market to see what was achievable to help drive the growth of the business and release equity. “The company received a good amount of interest and eventually decided to move forwards with Bellrock Group, which is backed by private equity,” said Daniel. “This was due to them believing in the potential for synergy, as well as being excited by the idea of being part of a larger group of companies and continuing to drive the business forwards. “Bellrock has acquired a well-respected and profitable company which has been successful for over a decade, with a team of four highly knowledgeable and experienced directors that had built up a significant and loyal client base. “I believe the outlook for the companies is extremely bright and I’m sure they will continue to go from strength to strength.”

Honey to deliver 563 new homes in Duckmanton, Edwinstowe and Killamarsh with value of £170m

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Housebuilder Honey aims to deliver a combined total of 563 new build homes on three sites across the East Midlands.

The housebuilder has exchanged contracts on a site in Duckmanton and acquired sites in Edwinstowe and Killamarsh to deliver three proposed developments which will have a combined gross development value of £170m.

Located on Tom Lane on the outskirts of Duckmanton and adjacent to the M1, Pearl will deliver a £78m, 275 new home development, subject to planning. The proposed development will comprise a mix of two-, three-, four- and five bedroom homes and will include terraces, semi-detached and detached properties.

On an 11-acre site located off Upperthorpe Road in Killamarsh, Honey intends to deliver a £50m, 174 new home development. The land was acquired from land and property regeneration company Harworth Group.

Subject to planning, the site, which will be called Aurelle, will comprise a mix of semi-detached and detached one-, two-, three-, four- and five-bedroom homes.

Homes by honey at Thoresby Vale in Edwinstowe will deliver a £42m, 114 new home development comprising a mix of three-, four- and five-bedroom homes including semi-detached and detached properties.

The housebuilder’s proposed development is part of the wider Thoresby Vale masterplan, located off Ollerton Road. Once complete, the new sustainable community will comprise 800 new homes, a new primary school, a local centre and up to 250,000 sq ft of commercial space. The site was also purchased from Harworth Group.

Plans have been already submitted for the proposed development in Edwinstowe, with planning expected to be submitted for the sites in Duckmanton and Killamarsh early this year.

Honey Chief Executive Officer, Mark Mitchell, said: “Our proposed developments in  Derbyshire and the East Midlands will provide much needed new homes for people living in, or wanting to move to, Duckmanton, Edinstowe and Killamarsh.

“We have painstakingly designed a range of house types that combine style, substance and sustainability. This ensures our buyers, and the wider community in which we build, benefit from a high quality, high specification development.

“We are excited by the opportunity to make our vision for our developments a reality and we now look forward to our plans being considered by the relevant local authorities.”

Spa hotel near Peak District National Park snapped up

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Specialist business property adviser, Christie & Co has sold the New Bath Hotel near Matlock Bath, Derbyshire. Set within 4.5 acres on the edge of the Peak District National Park and close to the tourist hotspot of Matlock Bath, the hotel features 54 bedrooms, with bar, restaurant and conferencing facilities, as well as a spa. There is also a spring water fed open-air swimming pool. The hotel has been acquired by Deventure Hotels & Resorts, an Indian based conglomerate that is expanding into the UK hotels market. There is potential to create additional letting bedrooms, subject to planning permission, as well as develop the tourism trade, focusing on weddings, which the group intend to look into. Rohan Mukul, a spokesperson for the group, said: “We are happy that the New Bath Hotel & Spa marks our inaugural venture in the UK. Nestled in a perfect location with a rich history, it boasts unique features such as the 1930s outdoor pool and a 19th-century indoor pool, both fed by natural spring water. “Despite the current need for service enhancements, we recognise the immense potential of this business. Our strategic plan includes a comprehensive refurbishment, with a planned re-launch scheduled ahead of the summer season in 2024. “Christie & Co played a pivotal role in this venture, and we look forward to collaborating with them in future again. This marks the beginning of our journey to further expand and establish a significant presence in the British hospitality market.” Gavin Webb, associate director at Christie & Co who handled the sale, said: “We are delighted to have completed the sale. The transaction is yet another example of a good quality hotel being sold by Christie & Co in Derbyshire. The regional market remains positive and buyer appetite is strong for similar opportunities.”

Willshee’s wins contract with modular homebuilder

Willshee’s Waste & Recycling has been appointed by construction company TopHat to undertake a major waste management contract that showcases sustainability in practice. TopHat produces low carbon modular homes. With ambitions to significantly increase output when it begins operations in its new factory in Corby in 2024, TopHat is committed to significantly reducing its percentage of waste. Zero waste to landfill is now a given and the focus is on using insight to maximise the amount of reused materials and the most responsible disposal methods possible. TopHat group supply chain & logistics director Rachel Beech said: “We have been hugely impressed with the slick operation and level of technology at Willshee’s MRF site and also, in particular, the effort that goes into researching and implementing the reuse of materials. Waste wood, for example, goes to a manufacturer of chipboard – of which we need huge amounts! “Once a month, we study the data provided through Willshee’s customer portal and look at trends and examine ways to further improve efficiencies in manufacturing. The insight has helped us to reduce the volume of materials such as timber and plasterboard that we dispose of. “Having understood more about waste quantities, we have invested in new software that allows us to process the raw material in a more economical way – resulting in less waste. “Seeing the stats for the amount of cardboard we handle was another learning, we now rent an onsite compactor from Willshee’s which reduces the number of waste collections, and subsequently reduces our costs. “Simple things too, like the layout of our bins, have also been improved. And this commitment to learning and continuous improvement will remain a core part of our strategy as we embark on our next stage of growth.” Dean Willshee, Managing Director at Burton-based Willshee’s, says: “We feel very pleased and privileged to be working with this innovative, highly sustainable business. At the heart of our partnership with TopHat is following a solutions-based strategy that’s hard-wired into the insight provided via the customer portal. “This approach uses live data to drive business decisions about how to reuse more materials and reduce waste. This is complemented by a programme that delivers the most responsible methods of disposing with waste to support the company’s commitment to continually improving their carbon footprint.”

IT firm secures Pride Park office building

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On behalf of private clients, FHP Property Consultants have let 4 Riverside Court, Pride Park, Derby to L.E.A.D. IT Services Ltd. The property comprises a two storey detached office building with parking. The accommodation provides a mix of cellular and open plan offices set across two floors comprising 391m2 (4,187ft2). The property has been let to L.E.A.D. IT Services Ltd on a new lease following a simultaneous lease surrender. Darran Severn from FHP Property Consultants says: “We were initially instructed by the existing tenant to dispose of their unexpired lease. They had several years remaining and were looking to limit their liability onwardly. “Following a comprehensive marketing campaign, we were pleasingly able to place property with L.E.A.D. IT Services who have taken a new lease releasing our client from their ongoing liability. This was an excellent result for our client, L.E.A.D. IT Services and the landlord who benefitted by us securing a new long lease.” Sarah Thompson from L.E.A.D. IT Services says: “At L.E.A.D. IT Services, we’ve long awaited this move, and it’s been an incredibly fulfilling journey for our entire team. Our new building represents a milestone, offering us the ideal space in a fantastic location to support our expanding team and client base. “In addition, the training room we now have creates avenues for us to engage in hands-on training and development for the schools and businesses we support, which has always been important to us. The next step involves working together on refurbishments, making it our very own, and paving the way for the exciting projects and opportunities that lie ahead in our future.”

2024 Business Predictions: Simon Bond, Director, Bond Legal Limited

It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Simon Bond, Director at Bond Legal Limited. There is no doubt that 2024 looks set to be a year of change and uncertainty in relation to HR and employment law. Employers will need to grapple with a substantial quantity of new legislation that is expected to come into force throughout the year. A combination of new rights for employees and additional duties for employees include:
  • changes to the way in which employees can make flexible working requests;
  • additional protections from redundancy for pregnant employees and those on maternity and other family leave;
  • a new right for carers to take one week’s unpaid care leave each year;
  • the statutory right for those on zero-hour contracts to request a more predictable working pattern;
  • a new duty on employers to take reasonable steps to prevent sexual harassment;
  • the introduction of 12 weeks’ paid leave for the parents of babies in neonatal care;
  • changes to the rules around the calculation and payment of holiday pay;
  • provisions allowing direct consultation with employees under the TUPE regulations; and
  • increases to the rates of the national minimum wage.
Further legislative change is likely as a General Election looms. If the Labour party win, they have pledged to introduce an Employment Rights Bill within their first 100 days of office, which is likely to unveil far reaching changes. I predict that the economy will also have a significant impact within the workplace next year. According to the Advisory, Conciliation and Arbitration Service (Acas), 30% of employers may make redundancies in the next year as a result of financial challenges, so it’s a good idea to get your employee handbooks up to date so that both employers and employees know where they stand on all HR matters. It will no doubt be another interesting year ahead. For more information on protecting your organisation with Employment Law and HR Consultancy expertise, visit Bond Legal at https://www.bondlegal.co.uk/.

Sills & Betteridge gain new ground in top 200 law firms table

With a 27 place climb since they first entered The Lawyer publication’s prestigious UK200 rankings in 2019, Sills & Betteridge LLP are now in position 160 – with growth of 15% on the previous year placing the firm in the top 10 best performing firms in the country. The report is seen as the benchmark for anyone with a serious interest in the business of law. It comprises months of detailed, impartial research into the firm’s financial performance, characteristics of its service delivery and analysis of its people – looking forensically at diversity, progression and development. Chief Executive Martyn Hall said: “A combination of factors has led to these results, but they are principally due to organic growth, our acquisition of niche matrimonial practice Acclaimed Family Law of Sheffield, the recruitment of several senior fee earners across the firm and continuous efficiency initiatives across our working practices and operations.” But it’s not just about financial performance, the firm is also recognised in the gender analysis section of the report with another top 10 position for a notable number of female partners (60%) and female lawyers (64%) working across the firm. Karen Bower-Brown now goes into her 3rd year as Senior Partner – the first female Senior Partner in the firm’s 265 year history. Other highlights for Sills & Betteridge in 2023 included the Legal 500 Legal Directory results which saw the firm retain two prized accolades – Leading Law Firm and Top Tier Family Law Team, with a record 10 teams making the list and 30 individual lawyers. The firm also won the Solicitor Firm of the Year at the British Wills & Probate Awards and Children Team of the Year at the national Family Law Awards. Plans for 2024 include the relocation of the firm’s Sleaford, Sheffield and Northampton operations, significant refurbishment of its Boston premises and continued investment in its people and delivery of excellent service.

Provantage Corporate Finance appoints new partner

Mid-market corporate finance boutique, Provantage, with offices in Nottingham and Birmingham, has welcomed Maria Thomas as partner, to bolster its presence in the Midlands. Maria brings a wealth of experience advising shareholders, directors, and private equity over a 16-year career focusing on the mid-market. Maria joins from Grant Thornton. Her experience of cross border transactions, the local market, as well as her knowledge across a broad range of sectors will complement the continuing growth and success of the Provantage Team. Maria said: “I am delighted to be joining such a high performing and successful team and look forward to helping drive the business on its next phase of growth. It’s a great time to be joining the team on the back of their recent deal successes, including the sale of Alpha Instrumatics to Halma Plc and Foresight Group’s exit of Datapath. “Provantage has built an enviable culture with a focus on client delivery and the development of lasting partnerships, something that very much mirrors my approach.” Her arrival signals Provantage’s ongoing commitment to the Midlands market with further investment to grow the team expected over the next 12 months. Jamie Hope added: “I am thrilled Maria has joined us, she will be a great addition to an already hugely talented team here at Provantage. It is an exciting time in our evolution, which is reflected by the fact we have been able to attract an adviser of Maria’s experience and calibre. “Despite the challenging market conditions, we enter 2024 with a strong pipeline and look forward to a very active and successful year supporting our clients.”

Fastest rise in East Midlands business activity since May 2023

The headline NatWest East Midlands PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – posted 50.7 in December, up notably from 47.1 in November, to signal a return to growth in output at firms across the region.

The rise in business activity was the quickest since May 2023, albeit slower than the UK average. Anecdotal evidence suggested that increased output was due to signs of improvement in demand conditions and efforts to clear backlogs.

December data signalled only a marginal contraction in new orders at East Midlands firms. The rate of decline softened for the second month running and was the slowest since July. Nonetheless, the decline in new business was linked to subdued demand conditions and economic uncertainty.

The decrease in new orders in the East Midlands contrasted with the wider UK trend which indicated the fastest rise in new business since May.

East Midlands companies recorded a slight pick up in the level of optimism regarding the year-ahead outlook for output in December. Expectations of greater activity stemmed from hopes of an improvement in customer demand, a more focused approach to marketing and investment in facilities. Although stronger than in November, the degree of confidence was below the long-run series average and the UK trend level.

Firms in the East Midlands registered a sixth successive monthly drop in employment during December. That said, the pace of job shedding eased to only a slight rate that was the slowest in the aforementioned sequence of decline. Companies reportedly cut workers in a bid to reduce costs, but some noted that staff growth was due to the hiring of temporary workers.

Companies in the East Midlands saw a slower fall in employment compared to the UK average.

The level of outstanding business at firms in the East Midlands fell further at the end of 2023, thereby extending the current sequence of decline which began in October 2022. Companies continued to state that lower new orders allowed them to work through existing business. The pace of contraction was solid but eased to the slowest since June.

The decrease in work-in-hand was led by manufacturers, as service providers registered a faster rise in incomplete business.

December data signalled a marked rise in input prices across the East Midlands private sector. Business expenses increased at the fastest pace in three months, and at a rate that was sharper than the series average. Hikes in input costs were attributed to greater wage bills, higher utility prices and increased component costs.

The pace of increase in input prices was the second-fastest of the 12 monitored UK regions, with only London recording a steeper uptick.

Selling prices at East Midlands businesses rose at a steep rate at the end of 2023. The increase in output charges was the quickest for six months and sharper than the series average. Firms reportedly sought to pass through costs to customers amid a faster uptick in input prices. The pace of inflation was broadly in line with the UK average.

Rashel Chowdhury, NatWest Midlands and East Regional Board, said: “East Midlands firms ended 2023 on a slightly better note, as output returned to expansion and the decline in new orders softened for a second successive month to only a marginal pace. Firms noted signs of improvement in demand conditions, but continued to highlight that economic uncertainty weighed on customers’ minds.

“Glimmers of hope regarding future demand led to only a fractional drop in employment despite a marked contraction in outstanding work.

“Meanwhile, inflationary pressures gained momentum as input prices and output charges rose at the fastest rates for three and six months, respectively. Greater utility costs and hikes in wage bills placed strain on margins, with paces of increase historically elevated which may constrain customer spending further in the opening months of 2024.”

East Midlands Cyber Resilience Centre reflects on its past year

A fortnight into the new year the East Midlands Cyber Resilience Centre has had a chance to reflect on its inaugural Christmas networking event which brought together the EMCRC’s wider network of partners and stakeholders. The event was hosted by Nelsons solicitors –  Community Ambassadors of the Centre, and whose Partner Kevin Modiri advises the Board. EMCRC Chairman Chief Superintendent Dave Kirby delivered a welcome address to the network where he discussed the important work the Centre is undertaking before handing over to MD Colin Ellis. He said: “To really help protect our businesses, schools and charities to stay secure online we at the EMCRC and policing need to work together with those sectors to understand the needs and the complexities of those organisations. “Our CRC network is made up of a broad church for this reason, who have a wide breadth of experience, capability and reach. We are not just made up of cyber security professionals, we have industry professionals from diverse sectors with diverse skills, all of whom recognise the threat to business that cyber and online crime bring. “Getting our partners all together in a room was really important to talk about the work we are doing to support SMEs and devise how we can better reach and help all organisations across the east midlands. Its also really important to acknowledge that a collaborative approach is needed to achieve this. All our partners and friends understand this and often give up their own time to help – so it was nice to be able to thank them too.”