Wednesday, April 30, 2025

Boots sale worth £8bn possible after 300 store closures

April Lara
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Boots sale worth £8bn possible after 300 store closures

Boots, the well-known UK pharmacy and retail chain, is poised for a potential £8 billion sale, with reports suggesting a deal could be finalised this week. This follows the closure of 300 stores as part of a significant cost-saving effort by its parent company, Walgreens Boots Alliance, which is facing financial challenges. The private equity firm Sycamore Partners is expected to acquire the business, raising questions about Boots’ long-term presence on the UK high street.

Despite the closures, Boots in Nottingham, has seen a marked performance improvement. The company’s retail sales surged by 8.1% between September and November 2024, driven by strong online growth and its pharmacy services. Online sales increased by 23%, while pharmacy sales grew by 5.8%, bolstering the company’s appeal to investors.

This shift in performance could lead to a separation from Walgreens and Shields Health Solutions, with speculation that Boots might be listed on the London Stock Exchange.

Next major step taken in Derbyshire Waste Treatment Facility Project

Tess Egginton
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0
Next major step taken in Derbyshire Waste Treatment Facility Project
Three major waste management firms have been selected to progress to the next stage of the procurement process to appoint a contractor to fix and operate Sinfin waste treatment centre. Following a first stage selection process, Biffa, Thalia and Viridor have been identified by Derby City Council and Derbyshire County Council as the most suitable qualified companies to move forward to the Competitive Dialogue phase. This marks a significant step in the councils’ joint project to secure a long-term waste management solution for Derby and Derbyshire, ensuring efficiency, sustainability, and value for residents. The timeline for the next steps in the procurement are:
  • Competitive Dialogue – October 2025
  • Contract award (Cabinet decision) – December 2025
  • End of due diligence and commencement of rectification phase – June 2027
  • Start of commissioning – June 2028
  • First waste acceptance – November 2028
  • Completion of commissioning and transition to normal operations – Winter 2028 – Winter 2031
Over the next six months the councils and selected bidders will enter ‘Competitive Dialogue’ – structured discussions designed to provide equal treatment of all three companies to clarify, specify and enhance their proposed solution to fix and operate the facility. The process enables both the Councils and bidders to assess approaches and ensure opportunities that strike the right balance between cost and quality are explored. A spokesperson for Derbyshire County Council said: “We were confident we had developed a procurement process and commercial proposition that would be attractive to the right companies. “Shortlisting three major players in the UK waste market proves there’s a competitive market for this project, and operators with the skills and experience to successfully deliver it and its expected benefits. “Fixing and operating the facility was found to be the most viable, cost-effective, and sustainable long-term solution to manage household waste which residents in Derby and Derbyshire either cannot or choose not to recycle.” A spokesperson for Derby City Council said: “This is an important milestone in our commitment to securing a sustainable and cost-effective waste management solution for Derby and Derbyshire. “Reaching this stage with three leading waste management companies demonstrates both the strength of our approach and the level of industry interest in this project. “The council is keen to ensure a sustainable way to dispose of residents’ waste in the long term and seeks to find the most cost effective solution.”

UK opens first public electric charging hub for HGVs

April Lara
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UK opens first public electric charging hub for HGVs

The UK’s first public electric charging hub for heavy goods vehicles (HGVs) has been launched at Able Humber Port in Immingham, North Lincolnshire.

Developed by Milence, a joint venture between Daimler Truck, Traton Group, and Volvo Group, the hub features eight charging bays, four of which are high-performance chargers, and two bays are served by a megawatt charger. It can fully charge an electric HGV in about 90 minutes.

The hub is strategically located off the A180 with direct access to the motorway network, making it an important site for HGV operators. In June 2023, North Lincolnshire Council granted the development planning consent.

Milence plans to expand its network across Europe, including routes connecting Immingham to Birmingham. The company aims to establish 1,700 charging points by 2027.

The new hub is seen as a key step in supporting the transition to electric vehicles in the logistics sector, with significant potential for further infrastructure growth in the UK and Europe.

Trio of industrial assets acquired by joint venture

Tess Egginton
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Trio of industrial assets acquired by joint venture
A joint venture between global investment firm Sixth Street and Copley Point Capital, an owner and operator of UK industrial property, has acquired a portfolio of three logistics assets from National Farmers Union Mutual Insurance Society totalling 0.9 million square feet. Two of the assets totalling 0.5 million square feet are leased to Fowler Welch and Great Bear, and are located within Magna Park, Lutterworth, the distribution park located in the Golden Triangle. The third asset is leased to Amazon and located in Doncaster. The acquisition brings the joint venture’s portfolio to six assets across 2.5 million square feet – each acquired since its formation in November 2024. Guillaume Savoie-Coulonval, Managing Director at Copley Point, said: “We are delighted to expand our partnership with Sixth Street and add to our high-quality portfolio. These three distribution warehouses exemplify the type of investments we are targeting across the UK. We remain acquisitive and continue to offer a reliable solution to sellers in the current market environment.” BSBRE advised the seller on the transaction.

Stagecoach offers free sustainability training to suppliers

April Lara
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0

Stagecoach, part of the UK’s leading bus operators, has joined an innovative initiative to offer free sustainability training to its suppliers, marking a first in the UK. As part of the United Nations Global Compact (UNGC) UK Network’s Sustainable Suppliers Training Programme, the initiative aims to educate suppliers on sustainability and the 10 principles of the UNGC, supporting Stagecoach’s journey to reduce its environmental impact and meet its net-zero targets.

The programme will provide Stagecoach’s suppliers with the necessary tools, resources, and guidance to enhance their sustainability practices. The operator’s commitment is seen as a step toward strengthening the environmental credentials of its supply chain, which includes businesses accounting for £200 million in procurement spend.

This move represents a strategic effort by Stagecoach to integrate sustainability into its procurement practices, demonstrating the potential for collaboration between businesses to drive collective action towards a more sustainable future.

£880,000 set for Grantham town centre upgrades

April Lara
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£880,000 set for Grantham town centre upgrades

Grantham town centre is set to benefit from £880,000 in improvements, following approval of seven key projects by South Kesteven District Council. The funding, secured through a successful bid to the government’s Future High Streets Fund in April 2021, aims to revitalise the town centre and support local businesses.

The projects include installing power supplies to Market Place and Westgate and improving infrastructure, such as new planters, benches, cycle parking, and direction signs for key transport links like the railway and bus stations. Further developments will see the addition of removable bollards around the Conduit Lane car park and enhancements to the cultural quarter and Grantham Market, supporting their growth.

Cllr Ashley Baxter, leader of South Kesteven District Council, highlighted that these projects would be funded from an underspend in previous works, including improvements to Market Place and Station Approach. The upgrades are part of the council’s wider investment programme, which includes resurfacing, better pedestrian access, and traffic signal improvements. The council is committed to completing all new projects by March 31, 2026, with contracts due to be finalised by March 31, 2025.

Wren Sterling makes trio of acquisitions

Tess Egginton
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Wren Sterling makes trio of acquisitions
Nottingham financial planning firm Wren Sterling has welcomed around 520 clients through a trio of acquisitions, as it continues its strategy of acquiring profitable firms that are geographically well-positioned to support its growth. JLS Associates near Perth will join Wren Sterling’s Glasgow team, Investment Choices, a Kent-based business, will expand Wren Sterling’s growing presence in the South-East, and Broadway Financial Planning, located in the Cotswolds, will help expand Wren Sterling’s Oxford-based team. Together, the three deals bring in over £300m of assets under management, taking Wren Sterling’s total assets to around £9bn. James Twining, Chief Executive Officer at Wren Sterling, said: “Wren Sterling had a strong year for acquisitions in 2024 and it’s great to get 2025 underway so decisively. Through these deals we are able to improve our client offering for both new and existing clients and bring hugely talented people into the Group for the benefit of all. “Our dedicated integration team has the skills and experience to ensure that client and staff disruption is minimised and that advisers are given a stronger platform with which to serve their clients. “We expect to complete more transactions throughout 2025 and beyond and, with our financing in place, remain eager to partner with firms that share our client first values and entrepreneurial culture.”

Milligan appointed strategic asset manager at Chesterfield’s Pavements shopping centre

Tess Egginton
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Milligan appointed strategic asset manager at Chesterfield’s Pavements shopping centre
Chesterfield Borough Council has appointed Milligan as the strategic asset manager for The Pavements shopping centre, applying its experience in town centre regeneration, strategic leasing, asset management and repositioning to play a key role in unlocking The Pavements’ full potential as a cornerstone of Chesterfield’s regeneration. The Pavements is owned by Chesterfield Borough Council and strategically positioned between the town’s historic market and bus station. Now, with the support of Milligan’s expertise, the Council will review The Pavement’s role in Chesterfield’s town centre as public realm improvements progress. It’s current occupiers include Tesco, WHSmith, Boots, other national retailers and a selection of independent businesses. Working in partnership with Chesterfield Borough Council, Milligan will develop a strategic action plan for The Pavements, ensuring it meets the needs of the community while supporting Chesterfield’s regeneration. The plan will focus on maximising the shopping centre’s value to its occupiers, enhancing its appeal to Chesterfield’s growing catchment, and integrating it seamlessly with the town’s ongoing transformation. Alex Hyams, Head of Asset Management at Milligan, said: “Milligan has a long history of successfully delivering strategic asset management interventions to unlock performance for challenged schemes. “We’ve worked across the country with mixed-use and retail-led destinations and bring a very experienced team. As the role of town centres evolves, shopping centres like The Pavements must adapt to meet the changing needs of their communities. “Chesterfield is a location we know very well, it brings a unique blend historic character, walkability, good infrastructure which supports the growing tourism appeal of town and the surrounding Peak District. We’re excited to be working with such a forward-thinking Council, where important public realm works are already underway. “Alongside this, The Pavements has the potential to become a cornerstone of Chesterfield’s regeneration and visitor experience and sustainable offer for the local community.” Cllr Tricia Gilby, Leader of Chesterfield Borough Council, said: “We’re thrilled to welcome Milligan to the team as we work to enhance The Pavements as part of Chesterfield’s town centre transformation. “Milligan’s impressive track record of revitalising retail-led destinations, combined with their understanding of Chesterfield, makes them the ideal partner to help realise our vision. “The Pavements will play a vital role in delivering a stronger, more vibrant town centre that benefits our residents, businesses, and visitors.”

2024 “a highly successful year for Nottingham Building Society”

Tess Egginton
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0
2024 “a highly successful year for Nottingham Building Society”
Nottingham Building Society has hailed a “strong financial performance” in 2024, driven by a 37% growth in new mortgage lending. Results for the year ended 31 December 2024 show £1.2bn gross new lending, representing an increase of £328m on 2023, while the Society is now its largest in asset terms, with £4.2bn in total mortgage assets and £5.2bn in total assets.

The Society saw 9,166 new mortgage customers in the year, an increase of 32% on 2023.

Meanwhile, £154.6m in total interest was paid to savers, an increase of £62.8m on the prior year. The business saw pre-tax profits rise to £13.9m, representing an increase of £5.6m on 2023.

Sue Hayes, Chief Executive Officer, said: “2024 was a highly successful year for Nottingham Building Society – and the Society is now its largest in asset terms than at any time in its 175-year history – we have reached a record level of £4.2bn in mortgage assets and £5.2bn in total assets.

“Our strong set of results for 2024 are driven by a 37% increase in gross new mortgage lending, an uplift in new business margins and continued strong customer service feedback.

“We helped 32% more customers own their own home by taking out a mortgage with us for the first time or moving to a new mortgage.

“Most importantly our strategy of supporting those who find it more difficult to get a mortgage in the first place has started to be evidenced and we are establishing our Society as a specialist residential lender. In 2024, we launched a new proposition aimed at foreign nationals living in the UK, supporting those entering the country to support our valued service sector to own their own home.

“Our mortgage balances increased by 18.6% compared with the previous year, whilst overall lending in the UK mortgage market has fallen. Our total mortgage assets have grown by 40 per cent since we began our transformation journey in 2022.

“We were delighted to welcome more savings customers to the Society via our online savings app as well continuing our commitment to passbooks for our branch customers – leading to an increase of 22% in our savings balances. As interest rates remained high throughout the year, we focused on paying savers the best rates we can whilst investing to strengthen the Society. In total, we paid £154.6m in interest to savers in 2024.

“We maintained our Trustpilot score of 4.9 reflecting our exceptional service that we know is highly valued by our customers.

“We are proud that we have seen an increase in statutory profit enabling us to invest for our members and make good progress in delivering our strategy. We invested in our technology, our brand and in developing our propositions to ensure our Society is well placed for the future.

“We took the decision to provide voluntary financial support to those members impacted by Philips Trust Corporation.

“Looking ahead, we believe it is important to enable a market where saving is encouraged and incentivised and alongside other Societies, we advocate for the current cash ISA regulations to be maintained. 

“I am proud of the results we are sharing today and would like to thank our members for their continued trust and support to the Society. In 2025, the sector celebrates 250 years of building societies and we are more committed than ever to the mutual values that we know are fundamentally important and highly valued by our members.”

Digital marketers find recipe for teamwork as they serve up lunch for YMCA

Tess Egginton
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Digital marketers find recipe for teamwork as they serve up lunch for YMCA
Digital marketers swapped their computers for chopping boards when they volunteered to cook lunch for dozens of people at the YMCA Derbyshire. Five members of staff from JDR Group gave up their morning to prepare a two-course lunch on Friday as part of the YMCA’s monthly community meal, which it offers in partnership with the Head High mental health organisation. The chefs – John Skidmore, Ashlesha Wargantiwar, Sophie Teece, Emma Ablewhite and Rhys Laven – planned and prepared the meal from scratch, serving up a meat and vegetarian chilli with jacket potatoes, followed by fruit crumble with custard. The community meals have become a popular event at the YMCA, with a different local company volunteering to cook them each month. It was the first time that JDR Group, which served around 80 people last Friday, has taken part in the event and John, who is head of client development at the firm, which is based in Stephenson’s Way, on the Wyvern Business Park said everyone enjoyed the experience. He said: “We’re a big team at JDR Group, so it’s good to see how our staff get on and co-operate in a different environment, as well as to meet people in the community who we wouldn’t normally come into contact in our working lives. “Our team have done really well, helped by the fact that Rhys is an ex-professional chef. It’s been great to see him step into a leadership role, and the food has gone down extremely well too.” Debs Powell, YMCA Derbyshire’s Head of Marketing and Communications, said: “The community meal is all about giving members of our community the chance to have a free warm meal and a chat. “We’re incredibly grateful to the JDR Group team for getting involved and cooking a delicious meal. The generosity of local businesses and organisations allows us to continue to provide support to people that need it most.”
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