£9.2m secured for Hucknall town centre regeneration

Ashfield District Council has secured £9.2 million for their Levelling Up Fund Round 2 application for Hucknall. The Council’s ambitious plan to drive economic regeneration in Hucknall has been recognised by the government as being high-quality and ready to deliver. The Levelling Up Fund bid is centred around three main themes – Skills and Economic Regeneration, Cultural and Heritage Gateway, and Access to Hucknall town centre. The Levelling Up Fund investment is part of the Council’s ambitious regeneration programme for the District which will see well over £100m of investment during the next 2-3 years. Cllr Matthew Relf, Executive Lead Member for Growth, Regeneration and Planning, said: “We are absolutely thrilled that the Council’s ambitious plan for Hucknall has been recognised by the government. We aim to improve the access into the town to attract more visitors, and businesses to reinvigorate the town centre. “The cultural and heritage enhancements will celebrate Hucknall’s rich heritage and provide new opportunities for people to learn about this history. This outcome is tremendous and will support the Council’s aspirations for Hucknall to be a modern town centre where businesses prosper, and residents are proud to be from.” Councillor Jason Zadrozny, Leader of Ashfield District Council, said: “This is the culmination of a lot hard work from Hucknall’s Councillors, our administration and Officers from the Council. “It will fulfil our vision of creating a vibrant, thriving town centre. Now we have secured money for every major town in Ashfield – our concentration will now be on securing more investment for the Selston Parish and our other villages.” Cllr Lee Waters, Ward Councillor for Hucknall North, said: “I am overjoyed that Hucknall’s Levelling Up Fund bid has been approved. It is hugely ambitious and will be one of the biggest investments in our town for decades. “It will focus on improving the life chances of residents, turbo charging investment, fast tracking public transport improvements – all whilst remembering our heritage. This is our chance to make significant change that will be benefit Hucknall for generations to come.”

College site sold in Melton Mowbray

FHP, acting on behalf of Melton Mowbray Town Estate, have completed the sale of the former Brooksby College on King Street in Melton Mowbray. David Hargreaves, who handled the sale, said: “The college relocated long ago from this site and it had sat there partly derelict for a while despite being in a really good central location in the town centre, opposite a car park and close to the bus station.” The building totals some 16,000 sq ft with parking for 10 cars and was marketed with a guide price of “offers over £400,000.” Hargreaves said: “Our marketing targeted Residential Developers, Housing Associations, Office, Workshops and Medical users and we had significant interest. This ranged from an Art Gallery, to a Dance Studio, a Church, Manufacturing and a Recording Studio, as well as interest from Developers looking to either refurbish or demolish the building for housing. “We started marketing in August which was not ideal due to holidays and with the property market as a whole still in shock from Base Rates rising to 5.25% from sub 1.00%. “Because of the market conditions we ‘guided low’ in terms of price which generated strong interest and enabled us to go to ‘Best Bids’. “We received 5 offers with a sale completing at the end of January – just 5 months after launch at a price well in excess of £500,000.” It is understood the Peterborough-based buyer is proposing a refurbishment of the property into apartments for rental plus some new build accommodation. Graham Betts, Chair of Melton Mowbray Town Estate, said: “We are delighted to have sold this building and look forward to seeing it being brought back in to use for the benefit of the town. “David Hargreaves and FHP did a great job in terms of marketing and generating interest and secured a price above our expectation – brilliant.” Chattertons acted as legal advisors, and Nottingham-based FHP Property Consultants as property advisors.

Nottingham Building Society reports “strong” 2023 financial performance

Nottingham Building Society (The Nottingham) has reported “a positive financial performance” for the year ended 31 December 2023, achieving growth in mortgage lending in a challenging economic environment as it continues its transformation plan. The Nottingham saw an increase in gross new lending (reaching £887m), total mortgage assets (reaching £3.6bn), and new mortgage customers (6,957), while its total savings balance also grew, as well as total interest paid to savers. The firm’s CEO praised the results, despite a dip in profit, where profit before tax stood at £8.3m, representing a decrease of £10.6m on the prior year. Underlying profit before tax of £24.2m, however, represented a £9m increase.

Sue Hayes, CEO of The Nottingham, said: I am pleased to report our financial results for 2023 alongside the progress towards delivering our strategy. Our financial performance in 2023 was strong, with profit before tax of £8.3m (2022: £18.9m), an underlying profit before tax of £24.2m (2022: £15.2m) and an 18.3% increase in mortgage balances compared with 2022.

“We achieved significant growth in mortgage lending while overall lending in the UK mortgage market fell. We helped 6,957 (2022: 3,984) customers either take out a mortgage with us for the first time or move to a new mortgage.

“We achieved good growth in our savings balances of 18.3%. We diversified our proposition to offer a variety of attractive products and savings rates to our customers via our branch network and online savings app.

“As interest rates have risen and remained high throughout this year, we have focused on paying savers the best rates we can whilst doing what we need to strengthen the Society. We paid a total of £91.8m in interest to savers in 2023 (2022: £23.9m). 

“I am proud of the results we are sharing today and would like to thank our members, and each one of our dedicated colleagues, for their continued trust in the Society. We look ahead to the coming years with a renewed sense of focus, guided by a clear and impactful purpose, with mutuality as our bedrock. 

“Looking to the future, we will continue to monitor the impact of movements in base rate on our mortgage and savings propositions, while focusing on innovation in our products as part of our ongoing transformation journey. We will also continue to support our saver members with attractive savings propositions.

Frasers Group’s recently acquired luxury retailer MATCHES put into administration

Shirebrook-based retail giant Frasers Group has put recently acquired luxury fashion retailer MATCHES into administration. The company said MATCHES has consistently missed its business plan targets and has continued to make material losses. Frasers Group told the London Stock Exchange: “Whilst MATCHES’ management team has tried to try to find a way to stabilise the business, it has become clear that too much change would be required to restructure it, and the continued funding requirements would be far in excess of amounts that the Group considers to be viable. “In light of this, Frasers has been informed that the directors of MATCHES have taken the decision to put the MATCHES group into administration. Frasers remains committed to the luxury market and its brand partners.” It comes shortly after Frasers Group bought the business in a £52 million deal. At the time it said the acquisition would be an opportunity to further develop Frasers’ Elevation Strategy and strengthen its luxury offering. The MATCHES business had been loss making in recent years.

£432m bid lodged for Mattioli Woods

The sale of Leicester-based Mattioli Woods is on the horizon, with an agreement reached on the terms and conditions of a recommended cash offer.

Under the terms of the acquisition, shareholders will be entitled to receive 804 pence in cash for each Mattioli Woods Share.

The consideration values the entire issued and to be issued ordinary share capital of the wealth management firm at approximately £432 million.

Tiger Bidco Limited, a wholly-owned subsidiary of investment vehicles advised and managed by private equity firm Pollen Street Capital, is behind the offer. Mattioli Woods Directors intend to recommend unanimously that shareholders vote in favour of the offer.

Ian Mattioli MBE, CEO of Mattioli Woods, said: “Since our admission to AIM in 2005, we have seen significant expansion in both the size and nature of our business, integrating asset management, financial planning and employee benefit services to serve personal and corporate clients throughout the UK.

“We have a strong track record of combining like-minded businesses that share the same culture and ethos of putting clients first. The team at Pollen Street Capital share our passion for delivering exceptional client outcomes and have demonstrated their ability to partner with entrepreneurial financial services business.

“I believe that with Pollen Street Capital’s support and access to capital we can accelerate the delivery of our strategy and provide our clients with the proactive advice and bespoke investment solutions they require.”

Anne Gunther, Non-Executive Chair of Mattioli Woods, said: “The Mattioli Woods Board is pleased to announce its unanimous recommendation of this cash offer for Mattioli Woods, which not only delivers attractive value to Mattioli Woods shareholders in cash, allowing them to crystallise the value of their holdings, but also provides significant opportunity for clients, employees and wider stakeholders.

“Mattioli Woods is recognised as a leading advice-led wealth manager and enjoys both direct distribution through its consultancy team and intermediated distribution through certain third parties. I believe that Mattioli Woods’ success is driven by an unwavering client-centric culture, the quality of its people and a responsibly integrated business model.

“The Mattioli Woods Board recognises the opportunities that can be delivered under private ownership, including access to incremental growth capital and other resources to accelerate the development of its technology and pursue transformative acquisitions.

“Pollen Street Capital is highly supportive of the Mattioli Woods management team’s strategy to create one of the UK’s leading wealth managers with the critical scale and holistic product offering to address the changing financial planning and investment needs of its clients.”

Lindsey McMurray, Managing Partner of Pollen Street Capital, said: “We are pleased to have reached agreement with the Mattioli Woods Board on the terms of Bidco’s offer to Mattioli Woods Shareholders.

“We believe Mattioli Woods would benefit from a transition to private ownership, which would enable Mattioli Woods to accelerate its growth strategy and to capitalise on the market opportunity in UK wealth management.

“Pollen Street Capital has strong heritage in supporting companies in the financial and business services sectors and we are excited by the opportunity to work with Mattioli Woods in achieving our ambitious goals for the business.”

Senior promotions signal continued growth at Flint Bishop

Top 200 law firm Flint Bishop has announced a series of senior promotions, amidst a period of solid business performance and strategic expansion. Angela Davis has been promoted to Partner & Head of Family & Matrimonial. Since joining Flint Bishop as an Associate in May 2018, she has demonstrated exceptional dedication, expertise, and leadership, earning a promotion to Senior Associate in November 2021. With over 30 years of post-qualification experience in family law, Davis has held significant roles at reputable firms. She specialises in advising individuals on wealth preservation during divorce or relationship breakdowns, regularly handling high-net-worth cases with estate values ranging from £1m-£10m, often with international aspects and foreign laws and regulations. Mark Wilcock, promoted to Corporate & Finance Partner, has over 10 years of expertise in a diverse array of corporate matters, including acquisitions and disposals of businesses, management buy-ins and buy-outs, share buybacks, complex restructuring, and shareholder/investment agreements. Wilcock has served as the lead adviser on numerous high-profile transactions since joining Flint Bishop, overseeing deals with values exceeding £10m. He has also been instrumental in forging key client relationships for both the Corporate & Finance and wider Deals team. These accomplishments were swiftly recognised by the firm, leading to his promotion to Senior Associate in August 2022. Briony McDermott, promoted to Employment Partner, brings nearly 15 years of experience in employment law to her new role. Her portfolio includes handling litigated matters, addressing complex company reorganisations projects, TUPE and restructures, undertaking education-specific work, and providing invaluable corporate support. McDermott’s significant contributions to the team and collaborative support with other departments, notably Corporate & Finance, Commercial, and Commercial Property, earned her a promotion to Senior Associate in February 2023. Completing the series of promotions, Sam Balmbra now assumes the role of Senior Associate in the Wills, Probate, Tax & Trusts team. Joining the firm as a newly qualified solicitor in November 2019, he has consistently enhanced his technical expertise, handling progressively complex high-value cases, particularly in probate and estate matters, leading to his promotion to Associate in May 2022. Earlier this month, Balmbra was confirmed as a full member of STEP, joining an elite group of internationally recognised professionals known for their expertise in family planning. This addition means Flint Bishop now boasts 4 out of the 14 fully qualified STEP members in the entire Derbyshire region. Flint Bishop Chief Executive Qamer Ghafoor said: “I am extremely passionate about creating a platform for our people to progress within the firm and take responsibility for projects and areas of work that really excite them. It is excellent to see staff achieve long term careers with the firm in line with the leadership team’s growth ambitions.” Ghafoor added: “These latest promotions stand as a testament to the success of our associate and partner promotion programs, which have been instrumental in fostering talent within the firm which has been a significant contributing factor to our recent growth. “Flint Bishop’s position as a leading law firm in the region is a direct result of the continued investment at our Birmingham and Derby offices as we roll out our further strategic growth plans for 2024 and beyond.”

7 subtle ways to make your company culture stand out

Today’s competitive market requires a strong business culture to attract and retain top talent. A prospering, healthy, and pleasant work environment increases worker satisfaction, loyalty, and productivity, but getting there (and staying there) can be difficult. Celebrating “culture cultivation” rather than “fun” requires more than team building or a Christmas party. After being awarded one of the Best Software Companies in the UK 2024 by G2, employee recognition software experts Mo present seven real-world ways to improve business culture. These methods avoid overly interventionist tactics to create an environment where employees feel valued, inspired, and united.

Open up communication

Making work a setting where individuals feel comfortable communicating can boost morale. Whenever possible, foster an environment that values honest feedback. Feedback sessions between employees and management can foster continuous improvement and mutual respect by making employees feel heard and respected, as well as helping management understand their team’s beliefs and motivations. Regular open forums where anybody may discuss workplace culture, projects, and processes can promote free discourse and community belonging. These forums can help people overcome challenges and brainstorm business growth. Your office can also include anonymous suggestion boxes. These, whether digital or physical, are helpful for eliciting people’s perspectives who may not feel comfortable speaking up in public. These suggestion boxes allow staff to voice ideas and issues without fear of being judged or “singled out” from the crowd. Opening communication can boost employee engagement and collaboration, making the workplace more productive and peaceful.

Flexible work arrangements

Today’s workforce values workplace flexibility, and there are many ways to provide it, each with its own benefits. Allowing employees to work remotely, from home or elsewhere can raise morale and reduce stress. Recognising employee needs and preferences promotes a healthier work-life balance. If your business model permits, give your personnel more scheduling flexibility to work when they’re most productive. Employees will be happier and more engaged if they can schedule their work around their obligations, and at times when they feel most inspired and energetic. Work-life balance is crucial to employee health and satisfaction, and various instances of research have shown that workplace flexibility boosts productivity and reduces absenteeism. These types of arrangements can show employees that you trust them and are willing to meet their needs, earning their loyalty and respect.

Professional development investment

Online courses and qualifications are a great way to enhance staff members’ skill sets and knowledge bases. Employers can look to funnel some of their budget into providing memberships to top educational platforms, or paying for online seminars and workshops. Similarly, encouraging mentorship ties inside an organisation can help with knowledge transfer and career development. Employees can learn from more seasoned coworkers and improve their own career navigation through mentorship programmes – what’s more, this is a great way to get staff members engaging with one another in a productive and engaging way that could foster genuine bonds of trust. Giving each employee a learning and development budget empowers them to take charge of their own progress and direction in your company. This money could cover conferences, certificates, and specific training. Give employees the “keys” to their career growth and let them pursue learning opportunities that meet their interests (preferably in a way that suits your business goals).

Recognise success

To encourage and retain your staff, you may want to make efforts to recognise and reward team members for their contributions. There are innumerable ways to do this, and some work better than others. Encourage employees to acknowledge the accomplishments of their coworkers through a peer recognition platform. This helps to create a more positive work atmosphere, and encourages a culture of vocalised gratitude. Meetings on a regular basis or a digital platform might both serve as facilitators for such programmes. Extra vacation days, public recognition, or chances for professional development are examples of non-monetary incentives that can have a big influence. Workers will feel appreciated because these prizes can be personalised to their requirements and tastes, showing them that you, as an employer, recognise and value them as an individual, not just another “cog” in the machine. No matter how big or small, it’s important to celebrate both individual and team accomplishments and milestones. This will raise morale and inspire people to keep working hard. There is a wide spectrum of celebrations, from handwritten messages of gratitude to extravagant team parties. Organisations can motivate their staff to keep performing well and committing to the company’s objectives by establishing a culture that frequently acknowledges and rewards accomplishments in a genuine and meaningful way.

Promote wellness

Workplace wellness programmes should promote employees’ physical, mental, and emotional health. Your employees will be more productive, creative, and happy at work if they lead healthy lifestyles. For the body, offering gym memberships or cash donations encourages staff to be active and healthy, improving wellness and productivity. Ergonomic furniture and tools help reduce physical strain and long-term health issues, showing your commitment to employee well-being. Supporting mental health days, reducing stigma, and enforcing work-hour limitations for all employees helps create a healthy work environment. Companies that emphasise health can help employees find a better balance, which enhances their satisfaction at home and at work and their productivity.

Encourage relationships

Fostering workplace social interactions improves teamwork and employee satisfaction. Your workforce may have a diverse set of values, interests, and qualities, making this a tricky – but by no means impossible – environment to traverse. You can’t force people to like one another, but there are some things you can do to encourage the natural development of social relationships. Lunch-and-learns or interest-based groups can help employees bond without the demands of formal events like a workplace Christmas party. Outside of a structured setting, creating “breakout” spaces for leisure or casual talk can help team members relax and open up, leading to better bonds and more unplanned encounters. Don’t underestimate the power of a ping pong table! Promote a supportive and inclusive workplace to boost morale and belonging. Instead of talking about work, encourage your workers to talk about their personal lives, interests, and ideals to build camaraderie and deeper understanding. Team members should feel valued and included, and generating a welcoming culture can promote a more cohesive and supportive workplace.

Lead by example

Leadership has an enormous effect on company culture. When leaders model the behaviour they want to see filter through their business, they set the tone for everyone to follow. A leader’s dedication to the company’s principles and culture might be best shown by taking the lead in implementing the changes they promote. A leader’s example can motivate followers to do the same, whether that’s through vulnerability, open communication, or taking part in professional development opportunities. A culture of trust and open communication may flourish when leaders set an example by being vulnerable and honest about the struggles they face. When workers feel their opinions matter, they are more likely to voice them. When leaders set a good example, they inspire their teams to do their best work by creating an environment of mutual respect, trust, and constant progress.

Conclusion

In closing, if you want your employees to be happy, stay, and productive, it starts with the creation of a pleasant work environment. From encouraging open communication and providing flexible work arrangements to setting a good example to your staff, all of the tactics discussed in this article aim to improve workplace culture in a genuine and successful way. Businesses should take it slow when introducing new policies and procedures, testing several approaches to see what works best for their employees. By taking baby steps and providing constructive criticism, you may make changes and encourage a growth mindset.

The Access Group appoints new Managing Director of Access PaySuite

The Access Group, a provider of business management software, has appointed Giulio Montemagno as Managing Director of its Access PaySuite division. Giulio takes over from Andrea Dunlop, who will stay with The Access Group and PaySuite division as a non-executive director. With 25 years of extensive general management, operations and strategy experience, Giulio has a distinguished career as a technology executive in payments, financial services and eCommerce.

He has a strong track-record in starting and scaling businesses within fast-growing, tier-1 technology companies and is passionate about delivering exceptional customer experiences and driving continuous innovation at scale.

Before joining Access PaySuite, Giulio was executive vice president of Payments-Platform-as-a-Service at Ingenico. Before that, he held senior leadership roles at Amazon, RetailMeNot, PayPal, and eBay across Europe. He has an MBA from Columbia Business School and London Business School.

Giulio said: “This is an exciting time to be joining Access PaySuite and I am keen to contribute to the Group’s exceptional growth and help propel and deliver success across the division.

“I am looking forward to working with a likeminded team at The Access Group globally to continue to drive innovation on behalf of our customers and partners in the ever-evolving payments landscape.

“I am committed to ensuring that we continue to deliver exceptional service and value to all our customers and stakeholders and look forward to the opportunities ahead.”

The Access Group CEO, Chris Bayne, added: “I am delighted to welcome Giulio as Managing Director of Access PaySuite, he will be responsible for the strategic and operational development of the division and has the skillset, drive and passion to make a great success for both our customers and our people.

“I would also like to take the opportunity to thank Andrea Dunlop for helping build Access PaySuite to the organisation it is today. Her hard work and dedication has laid the foundations for the future of payments at Access PaySuite, and we can continue to build on that.

“I am delighted that she has committed to remaining with The Access Group and PaySuite division as a non-executive director and will be supporting Giulio with both FCA and regulatory support and M&A strategy and we are looking forward to the value she will bring in her new role.”

Rights to offshore wind innovation for sale after administrators appointed

The rights to an innovative product in the offshore wind market, Gravity Tripod™, are up for sale after Michael Roome and Dean Nelson, Business Recovery and Restructuring Partners at PKF Smith Cooper, were appointed as administrators of East Midlands-based OWLC Holdings Limited on 26 February 2024.

OWLC Holdings Limited own the rights to Gravity Tripod™, a unique and internationally patented design for an offshore subsea foundation structure.

Following the appointment of administrators of OWLC Holdings Limited, an accelerated sale of business has commenced with the aim of finding a purchaser for Gravity Tripod™, which management believe can deliver an average of 11-12% reduction in the cost of electricity generated by offshore wind.

The Gravity Tripod™ is a unique design for an offshore subsea foundation structure, requiring little or no seabed preparation.

It uses concrete in place of steel, which allows the Gravity Tripod™ to expand the supply chain and deliver an offshore wind solution that is quicker, cheaper and more environmentally friendly than traditional monopoles or jackets. The patent is registered in a number of key geographies worldwide.

Michael Roome, Business Recovery and Restructuring Partner at PKF Smith Cooper, said: “Our aim is to maximise returns for creditors by seeking a sale of this unique design in the offshore wind market.

“If you are interested in purchasing the company, please contact me as a matter of urgency. We will keep stakeholders and the press informed of any developments as matters progress.” 

Full occupancy reached on Nottingham’s Castlebridge Office Village

FHP have reached full occupancy at Castlebridge Office Village, with the remaining suite secured by Altia Solutions Ltd. The Village is set within Castle Marina and benefits from being situated within 1.25 miles from Central Nottingham with retail and leisure facilities in immediate vicinity. Altia Solutions Ltd secured a self-contained office suite situated on the ground floor and benefited from a generous level of parking set within an ‘in-town’ location. Castlebridge Office Village is occupied by a diverse range of tenants including legal, technological, professional services and more. Initially the property was available over two floors with a floor area of circa 5,000 sq ft. But the demand for this type of office size was scarce due to government implements that have been put in place such as the ‘working from home’ / hybrid approaches. With further advice and discussions with the client, FHP said it was evident that they needed to reduce the size available to attract further enquiries to achieve occupation. Amy Howard, Surveyor at FHP Property Consultants, said: “Castlebridge is an estate I have been working on from the start of my FHP journey, so to achieve full occupancy is a great result, having secured 6 new tenants. It portrays the desire for office space is still apparent and that demand is still there within the market. “If landlord’s are open to spending capital on their properties and listening to the market to improve overall quality of the office space, the demand is still there and tenants will pursue these spaces. “Altia Solutions Ltd have been in the market for several months and viewed numerous properties over this time frame, so not only was it a good result for my client but also great to see Altia secure their new premises and I wish them all the best in their new premises.” Sarah Venn, from Altia Intel Ltd, said: “After diligently searching for alternative office space throughout 2023, we are thrilled to have found the perfect unit to accommodate our needs. Amy Howard and John Proctor’s support and expertise made the entire transaction seamless and efficient. Their professionalism ensured that every aspect of the process was handled with the utmost care and attention to detail. “As Landlords, FHP have proven to be a breath of fresh air – their approachable nature, coupled with their commitment to simplifying processes and addressing queries promptly has made our transition into Castlebridge a smooth and enjoyable experience.”