String of deals completed at Nottingham’s Teal Trade Park scheme
Agents FHP and Phillips Sutton, acting on behalf of Northwood Urban Logistics, have concluded a string of deals at the Teal Park Trade & Industrial Scheme in Nottingham. It sees an established line up of trade occupiers now in place with just 1 of the 14 trade units remaining.
The latest occupiers to sign up on the trade scheme include ETB Tyres, a brand owned by Bridgestone, Clifton Trade Bathrooms, and Octopus Energy, who join an already established trade line up including PaintWell, Screwfix, Howdens, Toolstation and Karcher.
The scheme also includes a 155,000 sq ft industrial scheme with individual units from 9,606 sq ft up to 31,553 sq ft. The recent letting of Unit 1 and Unit 2 to Yellow Octopus UK and Upcycle Labs leaves remaining availability from 17,785 – 31,553 sq ft.
Anthony Barrowcliffe of FHP said: “This scheme has proven very popular and we are delighted to have secured such a high quality tenant line up for our clients.
“The scheme is located on a busy arterial route to the east of Nottingham surrounded by a lot of new housing development taking place which makes it a perfect new location for new trade occupiers, last mile logistics companies and also production occupiers who can take advantage of the emerging population in this location.
“There are ongoing discussions on the remaining units and we hope to announce further occupiers in the near future.”
Brodie Faint of Phillips Sutton said: “It is great to see this development fulfil its potential as a new location for both trade and industrial occupiers. The strength of the trade counter scheme has been further enhanced with the most recent lettings to Clifton Tiles & Bathrooms and Octopus Energy.
“With continuing demand and limited remaining availability, the goal of securing 100% occupation across the estate is now within reach.”
Iain Taylor at Northwood said: “We are very pleased to welcome our latest occupiers to Teal Park demonstrating that it is appealing to a wide range of occupiers who will be able to adapt the units for a variety of uses.”
Plenty more to do to tackle rising economic inactivity, says East Midlands Chamber as latest labour market data released
The unemployment rate in the East Midlands was 3.5% in the three months to February, according to the Office for National Statistics’ latest regional labour market figures published today (18 April).
This was unchanged from last month’s data, with the region still below the UK average of 3.8%.
There was a slight decline in the region’s economic inactivity rate – which measures the number of working-age people who have dropped out of the labour market for reasons such as retirement, caring duties, long-term ill health or studying – which was down four-tenths of a percentage point to 21.9%.
However, this remains 0.8% above the UK average and above pre-Covid levels, having been 18.7% in the three months to March 2020.
East Midlands Chamber Chief Executive Scott Knowles said: “The consistently low unemployment rate, like the recent ONS analysis showing the UK economy is heading off a widely-forecast recession, demonstrate the resilience of the East Midlands business community in protecting jobs despite the upheaval and cost pressures of the past year.
“The Chamber’s latest research suggests there is further optimism for what lies ahead, with our Quarterly Economic Survey for Q1 2023 showing a 7% net increase in the proportion of our region’s firms that have grown their workforce in the past three months, along with a 14% net increase in those that expect to add to headcount in the next three months.
“However, there is still a long way to go and this must start with tackling the economic inactivity problem that, despite a very slight decline in the latest data, continues to be a thorn in the sides of many employers.
“There are many reasons for this, including long-term sickness, increased caring responsibilities and early retirement.
“While the Chancellor rightly identified rising economic inactivity as an economic priority in last month’s Spring Budget, the measures could have gone further and quicker. It is never too late to make significant interventions, though, and in our Business Manifesto for Growth, we have set out a list of policies we believe will make the required difference.
“These include introducing flexible incentives for businesses that invest in staff training and bringing forward the introduction of the Lifelong Loan Entitlement to support retraining and the retainment of an older workforce.
“We must also tailor policies to recognise the diversity of people who are out of work and avoid a one-size-fits-all solution, while we would also like to see Government work with businesses to offer support and share best practice on what a flexible and inclusive workplace looks like as this is another vital ingredient in enticing people back to work.”
Relocation deal for Excel Therapy
Excel Therapy Limited has taken the lease on a prestigious office building in the heart of Nottingham’s historic Lace Market in a deal completed by commercial property specialists Landa Associates and FHP Property Consultants.
Sunny Landa FRICS, director of Landa Associates, acted on behalf of Excel’s founder Scott Poundall to successfully secure a new home for the sports and performance therapy business at 48-50 St Mary’s Gate.
Amy Howard, surveyor at FHP, acted for landlord Nigel Rhodes.
Poundall established Excel Therapy in early 2019. The specialist osteopath has worked with members of the Nottingham Forest first team squad and the Nottingham Panthers, where he worked for 14 years.
The Excel Therapy team will use the space to deliver a wide range of therapeutic services including rehab, osteopathy and sports massage as well as high-level specialist training for aspiring and established therapists.
The site has something of a storied history, having once been occupied by Bombardier, who took a lease on the premises in 2008 in another deal completed by Sunny Landa. The property has also belonged to the well-known Strauss family in times past.
Sunny Landa FRICS said: “I’m delighted to have acquired this distinguished property for a great client. Excel Therapy really is a one-of-a-kind business, great to work with, and I firmly believe Scott will do very well there.
“48-50 St Mary’s Gate has a fascinating history and it’s a property that’s very close to my heart, given I once let it to Bombardier. I used that deal as a case study for my APC qualification many years ago.”
Scott Poundall, founder of Excel Therapy Limited, said: “I’d like to thank Sunny for securing such fantastic premises for the business. His work on this deal was meticulous and his expertise was invaluable at every stage of the process. We will be using our new home to offer an expanded range of services and specialist training.”
Amy Howard of FHP said: “It was a pleasure to work with Sunny and Scott on this deal. This is one of the most prestigious properties in an area brimming with prime assets. The building really is special – you can almost feel the history of the place. Excel Therapy is exactly the kind of tenant my client was looking for. They will bring something fresh and exciting to this historic part of Nottingham. I wish them all the best in their new home.”
Nigel Rhodes, landlord, added: “Excel Therapy is already one of the most dynamic businesses in Nottingham and I am delighted to welcome Scott and the team to the Lace Market. Hats off to Amy and Sunny for their sterling work in getting the deal over the line. As a landlord, it’s vital to surround yourself with advisors who know the market inside out, and I’m very pleased to say the advice I received on this occasion was second to none.”
Derby regeneration plans accelerated with Midland House acquisition
Placemaking and regeneration expert LCR has completed the £2.8m acquisition of Midland House, further accelerating Derby’s city centre regeneration plans.
The high-profile 19th century heritage building sits adjacent to Derby railway station amid an area earmarked for regeneration by Derby City Council to create a new, more effective gateway to the city centre.
The acquisition was made possible with the support of £500,000 funding from Derby City Council. LCR and the City Council are now working to bring forward a regeneration masterplan for the station area as part of the wider regional growth story. The plans will then be subject to consultation with residents, local businesses and other key stakeholders.
The c.55,000 sq ft building was originally the headquarters for Midland Railway and has also served as a free school. Local residents may associate the building with its most recent use as a COVID vaccination centre.
Midland House forms a key component of regeneration plans for the area, with the building linking multiple plots of underutilised land ready for regeneration. The sale of the building to government-owned LCR ensures that the heritage of the building will be protected and serve as a focal point for the wider regeneration of the city.
The transformation of Derby has gathered pace in recent years, with the Castleward and Derbion projects among those aiming to provide new housing, amenities and public realm. The news also follows the confirmation that Derby will be the home of the headquarters for Great British Railways.
Karl Drabble, regional director at LCR, said: “It is an exciting time to live, study and work in Derby, with plans to transform the city and its surrounding areas already moving at pace. News of Great British Railways’ arrival will only galvanise these, and it’s crucial that the area around Derby station, which has long been under-loved, provides a gateway that is symbolic of the direction the city is heading.
“We’ll be working hand-in-hand with Derby City Council to kickstart plans to regenerate the area, and the iconic Midland House will play a crucial role. Residents’ and visitors’ experience will sit at the heart of efforts to revitalise the area, and in partnership with the council, we want to ensure that the area is an exciting space for people to live and work again.”
Rachel North, Deputy Chief Executive (Communities and Place) at Derby City Council, said: “The news of the acquisition of Midland House by LCR is particularly welcome now that Derby has been confirmed as the new home of Great British Railways. It is an important building close to Derby station and its heritage will be protected. As well as having a proud rail history, Derby has an exciting future.
“The planned regeneration will help build the potential of the city’s Railway Conservation Area and continue to make Derby a more attractive place for residents, businesses, tourists and investors.”
Pinsent Masons advised on the acquisition for LCR.
Logistics developer continues commitment to the Midlands with new facility
A global developer and operator of logistics real estate, data centres, renewable energy and related technologies has struck a deal to occupy a landmark scheme developed by Clowes Developments.
GLP has signed a 15-year lease for a 135,000 sq ft warehouse at G-Park South Normanton.
GLP completed G-Park South Normanton as a forward funded project with NFU Mutual at the end of 2022, developed by Clowes.
It forms part of a development within Castlewood Business Park, which totals more than 1.5 million sq ft of warehouse space and is home to a range of tenants such as Co-op Food, Alloga and Parker Knoll.
Adrienne Howells, senior development director at GLP, said: “G-Park South Normanton Castlewood is another important step in our ongoing commitment to the Midlands – one of the UK’s major logistics hubs.
“We’re continuing to invest in the region to provide high-quality, strategically located, sustainable logistics space to our growing pool of top-tier customers.”
Strong pipeline of work within the public sector for G F Tomlinson
Midlands-based contractor, G F Tomlinson is celebrating success on several local schemes it has secured preferred contractor status on via a number of public sector frameworks, including Pagabo, Scape and the Department of Education, giving the firm a forward pipeline of work for the second half of 2023 and through to 2024 of £60 million.
These schemes include 90 new council houses in Worksop for Bassetlaw District Council valued at £21 million which will comprise of a mix of two, three and four-bed houses and two-bed bungalows. The scheme contains a host of green credentials including energy efficient air source pumps, solar panels, high insulation and electric vehicle charging points. There will also be cycle routes to encourage health and wellbeing.
George Betts Primary Academy in Smethwick valued at £9 million comprises a newbuild replacement school for 420 pupils and 26 nursery places. Once on site the works will be phased so that the existing school can continue to operate whilst the new school is being built.
Another high-profile scheme is the refurbishment of the Grade II Listed Stephenson Memorial Hall, which houses both the Pomegranate Theatre and Museum, for Chesterfield Borough Council valued at £16 million. The project aims to enhance the building by creating a modern visitor experience in the heart of the town centre and extend the life of an important heritage asset – creating a gateway impact and a ‘sense of arrival’ to the town.
Works comprise refurbishment, refit and extension to the listed building, which stands within a conservation area. This includes creation of a new café bar to enhance the theatre and museum experience and the installation of new lifts and a changing places toilet to improve accessibility. The scheme also includes improvements to Corporation Street with new paving and lighting that will revamp this key gateway to the town centre and provide a welcoming environment for visitors to the refurbished theatre and museum.
The final project to highlight is the Sherwood Observatory Science Discovery Centre in Sutton in Ashfield, valued at £5 million, which will transform a disused underground Victorian reservoir, dating back to 1880, into an education centre for school and group visits. The scheme will feature an exhibition hall, classroom, a cafe and meeting rooms as well as the state-of-the-art planetarium. It is hoped the new facility will increase annual visitor numbers from 3,000 to 20,000.
The company’s strategy has been to concentrate on the public sector, particularly through frameworks, which continues to provide ongoing opportunities in buoyant markets such as education, healthcare and bespoke civic schemes being funded by Government Spending initiatives including Towns Fund, the Levelling Up Agenda and Department for Education.
Andrew Sewards, group chairman at G F Tomlinson, said: “We are delighted with these recent successes, which are testament that our strategy of concentrating on the public sector is paying off. We continue to invest in and strengthen our workforce in order to capitalise on the opportunities we have moving forward, ensuring we remain in a very positive position within the marketplace.”
G F Tomlinson is also providing sustainable employment for its local supply chain, helping to generate social, economic and environmental benefits to the surrounding communities in which they work in.
82 jobs saved as street style brand rescued from administration
Street style retailer, Just Hype Limited (Just Hype) has been sold out of administration.
Quantuma Chief Executive Carl Jackson, and director Kelly Mitchell were appointed as joint administrators of Just Hype on 31 March 2023, and completed a sale of the business and assets shortly afterwards.
Just Hype was established in 2012 and operated from headquarters located in the East Midlands. The company’s target market is primary and secondary school aged children and it primarily sells direct to consumers through its online platform and from a single retail store located on Carnaby Street, London. According to its latest accounts filed in December 2020, the business reported a turnover of £22.8m.
The business has been jointly acquired by Lux360 Ltd and JHB2C Ltd who also acquired sister company Toatee Limited, which facilitates the sale of products through high street retailers and other online retail platforms.
The transaction secures the jobs of all 82 members of staff and enables the brand to continue to thrive and the business to move forward without the burden of legacy debt.
The store located on Carnaby street has closed, following the forfeiture of the lease prior to the involvement of the joint administrators.
Quantuma joint administrator Kelly Mitchell said: “The business was adversely affected by the Covid pandemic which was further compounded by the cost-of-living crisis. Just Hype has a globally recognised brand presence, regularly collaborating with other established brands. However, the investment in marketing to raise profile did not translate into revenue, as a result of public reduction in spending on non-essential items.
“Our strategic accelerated sale process enabled us to protect the value in the brand and the established online platform, to improve realisation prospects. The absence of a break in supply of goods and services, is also likely to ensure a more effective debt collection process to ensure realisations are maximised on behalf of creditors.
“I am delighted to have been able to complete the sale of this popular worldwide street fashion brand, and in doing so, securing all roles of all staff members.”
Light Science Technologies raises £1.6m
Derbyshire-headquartered Light Science Technologies Holdings has confirmed it has raised aggregate gross proceeds of £1,588,555 through the issue and proposed issue of 158,855,500 new ordinary shares at a price of 1 penny per share.
£1,077,500 was raised by the controlled environment agriculture (CEA) technology and contract electronics manufacturing (CEM) group through the issue of 107,750,000 placing shares, £355,000 was raised through the issue of 35,500,000 subscription shares, and £156,055 was raised through the issue of 15,605,500 WRAP retail offer shares.
An application has been made for the conditional placing shares, subscription shares and WRAP retail offer shares to be admitted to trading on AIM, which is expected to take effect on or around 24 April.
The funds will be predominantly used for product development and intellectual property protection within the company’s CEA division, as well as for general working capital purposes, including funding costs associated with the fundraising.
Leicestershire records 30% increase in job vacancies
Newly-released report data on the local employment market shows that the number of job vacancies in Leicestershire was up by about a third last year.
Recruits were sought for roles in traditional sectors including health and social care and business, finance, and professional services – but there were also vacancies in emerging areas of the economy that are creating green jobs and creative vacancies.
World of Work Leicester and Leicestershire is collated annually by the Leicester and Leicestershire Local Enterprise Partnership (LLEP) to offer an overview of the local labour market.
It crunches data relating to vacant and advertised roles, skills sought by employers, and roles being created by emerging new sectors and markets.
Anna Cyhan, LLEP Skills Officer and the compiler of the report, said: “We have a healthy labour market with opportunities and roles across the board. We have large international and national companies as well as thousands of small and medium enterprises and a good showing of microbusinesses too. All of this means there is something out there for anyone looking.
“Many people are not aware of the breadth of sectors open to them and the guide should help individuals to find out more.It’s a great time for people looking to develop new or existing skills, with lots of free options, to find themselves a role to match.”
The new World of Work shows that business, finance and professional services accounts for the largest share of employees in the Lecester and Leicestershire economy (74,879), followed by health and social care.
The release of World of Work 2022-23 comes after results from the most recent LLEP Business Tracker Survey, conducted in December 2022, suggested that the region is currently in a jobseekers’ market.
In total, 38% of businesses had experienced difficulties with recruitment during the preceding six months, responding with salary rises and increased training.
In response, the LLEP Business Gateway Growth Hub is this week staging a day-long conference to help SMEs build workforce.
Among events will be sessions providing practical ways to overcome recruitment challenges, and attracting and retaining staff.
Also on the agenda during the free event at the Morningside Arena will be practical tips and advice around energy, finance, personal resilience.
Five thousand printed copies of the guide are currently being handed out across the city and county to organisations including Job Centres, adult education centres and careers centres.
Tax advisory firm expands into East Midlands with Nottingham office
The independent tax advisory firm, Claritas Tax, has expanded into the East Midlands through the opening of its newest office in Nottingham.
The firm currently has offices in Birmingham and Manchester.
Ses Memhi, associate partner, who will lead the Nottingham office, explained: “The office will allow us to attract high calibre students and professionals in the region who are keen to develop their professional career in an environment where they will be provided with many challenging opportunities to develop, progress, and become part of our exciting growth story.”
The office has been designed with the needs of the team at its core, to enable flexible working and collaboration, and great transport links in a thriving business district.
Ses continued: “This is an exciting time for Claritas as we embark on the next stage of our growth plan with a new office in the East Midlands. My own professional journey continues having joined Claritas almost 8 and ½ years ago as the 4th fee earner; there are now 47 of us!
“Having previously worked in Nottingham and continuing to work alongside many contacts and clients in the region, I am fully aware of the talented professionals and leading-edge businesses in the region.
“I have also lived in Derby for over 13 years and with family in Leicester, I am truly excited and enthused at the prospect of leading our offering in the East Midlands and would like to thank everyone for the support they have shown to Claritas and to me personally.
“My role as head of transactions tax means my time will be split between the West and East Midlands, so don’t worry my ‘West’ friends; I’ll still be there!”
Iain Wright, partner and founder of Claritas, adds: “Ses has been an important member of the senior team over the last 8 and ½ years, bringing in a wealth of experience, knowledge, and ideas. He has some fantastic long-standing relationships within the East Midlands, which we are keen to see grow. With this move, our clients will benefit from greater local collaboration, enabling us to deliver enhanced outcomes for them and their businesses.”
