Construction starts on new £1.5m locomotive maintenance facility in Leicester

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Construction starts on new £1.5m locomotive maintenance facility in Leicester
Construction has begun on a new £1.5 million locomotive maintenance facility at rail vehicle engineering and maintenance provider, UK Rail Leasing Ltd.’s (UKRL), depot in Leicester. This new facility has been designed to maintain new classes of locomotives and provide UKRL significant extra capacity in Leicester to expand its maintenance business. It is also expected the expansion, once operational in early 2024, will create 15 new, highly skilled jobs. Construction of the new shed, which will be completed in 2023, is being supported by a development loan from HSBC UK. Mark Winter, Managing Director at UKRL, said: “This expansion in Leicester means we will be playing our part in developing a more efficient rail network by providing maintenance services for clients where they are needed. The new shed also increases our capacity for all our customers who know our expertise in maintenance and servicing rail vehicles ensures reliability.” Leicester’s City Mayor Sir Peter Soulsby said: “UKRL’s expansion with this new locomotive shed is good news for the city. Since founding in Leicester almost ten years ago, this important and innovative engineering company has gone from strength to strength, making major local investment, creating new skilled jobs and helping to put our city on the map as a fantastic place to do business.” John Smith, CEO of GB Railfreight, said: “For the rail freight sector to grow, we need investments like the one that UKRL are making in Leicester. This state-of-the-art depot will provide a new facility for locomotive maintenance that will improve sustainability and efficiency for freight operators, in addition to driving jobs and growth in the East Midlands region.”

New Derby primary school hits construction milestone

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New Derby primary school hits construction milestone
A topping out ceremony has taken place to mark the progress made on a new Derby school. Oak Grange Primary School will open in September, ready for the new academic year. The school at Boulton Moor is being built within the Snelsmoor Grange housing developments, The Meadows and Holbrook Grange. New developments at Snelsmoor Grange and Fellow Lands Way in Chellaston are creating 990 new homes, creating more demand for primary school places in the area. Morgan Sindall Construction started work on the Oak Grange project last August. The topping out ceremony celebrated the completion of the external structure and roof of the building, which has been funded through Section 106 contributions from the housing developer. East Midlands Education Trust, a partnership of 22 high-performing schools in Derbyshire, Nottinghamshire and Leicestershire, has been chosen to open the school. Oak Grange Primary will build pupil numbers incrementally, increasing by one year group each year. When it opens in September, admissions will be for Nursery and Reception children only. The school will then increase in size gradually each academic year until it reaches its capacity of 315 pupils, aged from 4 to 11 years, in September 2029. The new school building has been designed to allow community use at evenings and weekends and the school’s facilities will be made available for out-of-hours use by local community groups. Councillor Evonne Williams, Cabinet Member for Children, Young People and Skills at Derby City Council, said: “It’s wonderful to see Oak Grange Primary School reach this exciting milestone. The school will be at the heart of this new neighbourhood, becoming a hub not just for the children but the wider community.” Richard Fielding, area director for Morgan Sindall Construction, said: “We’re incredibly pleased to mark this important milestone at Oak Grange Primary School. It’s great to see the building take shape and to have completed the external structure and roof. “This project is particularly exciting as it hasn’t just been designed with pupils in mind, but for the whole community to utilise at evenings and weekends too. This will make it a real focal point for the area when it opens later this year. It’s a place we hope all local residents can enjoy.”

Race car manufacturer to open new corporate headquarters at Donington Park

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Race car manufacturer to open new corporate headquarters at Donington Park
Radical Motorsport, the race car manufacturer, is opening new corporate headquarters within Britain’s oldest motor racing circuit, Donington Park. The facility will be located at the main entrance to Donington Park, just 100 metres from the circuit itself at the Melbourne Hairpin entry. The move into the former Formula E headquarters comes after Radical Motorsport’s most successful year in its 25-year history, and marks an historic moment for the company, moving the customer-facing sales and marketing teams away from its factory in Peterborough for the first time since its incorporation. Radical Motorsport’s manufacturing and production base will remain at the Peterborough factory, with customer-facing and commercial departments expanding to the new Donington Park facility. The factory in Peterborough has been home to Radical Motorsport since it was founded 26 years ago in 1997, and the company remains fully committed to its roots in Cambridgeshire. The new Radical Motorsport corporate HQ is set to become a destination for owners and fans alike, a venue for automotive events and a unique meeting space for business partners and corporate reservations. Open to the public throughout the year Monday to Friday (9 am to 5 pm) and on selected race weekends, Radical Motorsport will open its doors to welcome all visitors to Donington Park. Behind the scenes, in addition to the office space for its sales, marketing, and motorsport staff, the premises will be able to provide the expanding Radical Motorsport dealer network with dedicated training opportunities to be able to better serve its growing customer base across the world. Joe Anwyll, Radical Motorsport CEO, said: “We looked at a number of non-circuit-based locations in the UK to host our expanding commercial team. However, with British motorsport tracks widely known as being some of the best in the world, we had to take this opportunity, as a British motorsport manufacturer, to be right on the doorstep of the action. “As well as our expanding team and record production numbers this year, this move to Donington Park will allow us to pursue ventures we’ve been unable to from our factory. Our cars belong on track, so it’s only fitting we be present there too.” Jonathan Palmer, Chief Executive of circuit operator MotorSport Vision (MSV), said: “I’m delighted that Radical Motorsport has decided to move its corporate headquarters to Donington Park. Since MSV took over the running of the venue in 2018, it’s been our ambition not just to create an improved competitor and spectator experience, which we’ve already achieved through numerous venue improvements, but also to elevate the circuit’s standing as a major national hub of motorsport businesses. “Radical Motorsport is a much-admired and globally recognised manufacturer of sports racing cars, and I’m delighted it’s recognised the significant benefits of being based at one of the UK’s leading race circuits. With the addition of Radical Motorsport alongside a growing portfolio of businesses, and further developments planned at the estate, including the renovation of Donington Hall as an incredible mansion house hotel, the future for the site is looking very bright indeed. “I extend a very warm welcome to Joe Anwyll and his team and look forward to seeing the completed facility soon.” Plans are afoot for the new facility to complete and open to the public Spring 2023.

Warsop Health Hub works fully approved to begin in the summer

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Warsop Health Hub works fully approved to begin in the summer

A new community hub will now be able to move ahead at full speed following successive decisions by Mansfield District Council and recent funding grant success.

The council has been offered a £1.8m capital grant by Sport England to kick-start the Warsop Health Hub project, based at Carr Lane Park, off Carr Lane. The scheme is one of six projects included in the council’s bid to the Government’s Towns Fund. Of the £12.3m awarded from the Fund to the district, £3m is allocated to the health hub plan. The council will provide £1.5m from reserves and the £3.5m shortfall will be made from council borrowing to bring the project to fruition, making the final project cost £9.2m. On February 3, the council was also successful in its bid to create a Changing Place at the hub, and was offered £103,967 of funding. The decision to accept this funding was taken on 17 February by the Head of Health & Communities. On March 13, the planning committee met again following a site visit the previous week to discuss the application for the hub and gave it full planning permission. This was followed by an executive decision by Mayor Andy Abrahams on March 14 to confirm the total project costs, the council’s borrowing amount, make Serco Leisure Ltd/More Leisure Community Trust the centre operator and for works to begin on the site in the summer. Councillor Andy Burgin, Portfolio Holder for Environment and Leisure, said it was brilliant news to see the project begin to take shape. “We are absolutely thrilled not to have just been successful in our bid for funding to progress our plans at Warsop,” he said. “I’m pleased to say our work doesn’t stop here in trying to secure further funding to support this project, which may reduce the council’s borrowing level further. “We are committed to improving health and wellbeing facilities in the area, and with the offer of a grant from Sport England and full planning permission, we can now press ahead with these exciting plans for Warsop. “Following a consultation with residents in 2020 about what their priorities were and what they wanted to see in the area, we are delivering this new health hub that’s packed with new facilities inside and outside with the new and improved multi-use games area. “I want to thank the whole team – both at the council and our wider community groups and partners – who put the case together for this successful bid, and I look forward to the project moving to the next stage.” Once complete in October 2024, the hub will see a new 15×8 metre swimming pool, splash play area, a changing village, a fitness suite, a multi-purpose hall, café viewing and IT area, Multipurpose meeting / Community space and a new and improved multi-use games area created in the parish. The decision to press ahead with the project aligns with the delivery of three of the council’s corporate priorities: wellbeing, aspiration and place. Elected Mayor of Mansfield Andy Abrahams added: “With the additional offer of a grant from Sport England, plus confirmation of our additional borrowing, I am thrilled to see our plans for providing improved health hub facilities to support health and wellbeing activities for the residents of Warsop moving ahead with pace. “This health hub will make a real difference within the immediate and wider community in the district, and I look forward to seeing works begin in the summer now we have full planning permission.”

Connect Derby has best start to the year for five years

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Connect Derby has best start to the year for five years
Connect Derby, the city’s primary managed workspace provider, has enjoyed the best start to a year for five years, with 6% of space currently under offer. 78,000 sq ft of office and studio accommodation is currently let, with 5,600 sq ft under offer – the highest level in the past five years and a clear indication that the managed workspace provider has recovered from the downturn following the pandemic. In the current financial year, the workspace provider has let more than 7,600 sq ft of space. The success comes as a result of Connect Derby’s strategy of responding to the changing nature of the workplace with the introduction of new, flexible ways of working. A diverse range of businesses have already taken space at Connect Derby buildings this year, including property, construction and infrastructure consultancy Pick Everard who have left their former home on Queen Street in the city to join Sadler Bridge Studios. Launched in 2014, Connect Derby supports small and medium enterprises, providing them with the flexible accommodation, advice, and guidance they need to support growth. A variety of accommodation is available, including conventional offices and studios, along with co-working space, hot desk facilities and virtual tenancies. Connect Derby continues to innovate in order to support businesses following the pandemic. Fully furnished offices were introduced in 2021, giving businesses the opportunity to rent offices on a short-term basis of up to six months. A new hybrid office scheme is soon to be launched at Friar Gate Studios for businesses who want to combine the flexibility of remote working with having an office base. Businesses will be able to occupy a hybrid office for up to three days a week, with another business occupying the space on the remaining days. They will occupy the same office on the same days each week. Commenting on its success so far this year, Ann Bhatti, head of Connect Derby, said: “To see such growth across the Connect Derby portfolio is a fantastic achievement and is a testament to the quality of our offer. “Over the past couple of years, we’ve introduced a number of new, flexible ways of working to support businesses as they navigate the new world of work, the cost-of-living crisis, and rocketing energy bills. “Our diverse workspaces and the flexible packages we offer mean that all types of business can join us, regardless of their size. “We will continue to innovate as we help businesses face the new challenges presented by the evolving nature of the world of work.”

Free places for 200 SMEs at Growth Hub ‘cost-of-business’ expo

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Free places for 200 SMEs at Growth Hub ‘cost-of-business’ expo
Businesses have been invited to a free business expo to learn more about reducing costs, saving on energy use, and recruiting more effectively. Delegates will be able to build networks and gain business support advice at the event being staged by the Business Gateway Growth Hub next month. Its purpose is to signpost business owners to available support, whilst also providing practical tools and tips to help manage the current cost of doing business crisis. Businesses can register now to attend the one-day conference, which will take place in Leicester in April. The expo is aimed at small and medium-sized businesses in Leicester and Leicestershire which are looking for tools, tips, and information as they head into the new financial year. Glynis Wright MBE and Sonia Baigent, both Members of the Leicester and Leicestershire Enterprise Partnership (LLEP) Board, will host the event. Subjects to be covered are set to include:
  • What small businesses need to know about saving on energy costs
  • Effective recruitment, onboarding, and engagement of employees
  • Navigating debt and maintaining financial resilience
  • Leadership in challenging times
  • An anonymised Q&A session offering free practical advice to your questions.
Sonia Baigent, Chair of the LLEP’s Business Board, said: “The LLEP’s recently-published Business Tracker survey showed us that local SMEs are concerned about recruitment, skills, and inflation. “This event will provide opportunities to learn more about the support available and will also include a marketplace for business owners to network with local business support providers and other businesses.” The expo, which is provided through the European Regional Development Fund (ERDF), takes place at the Morningside Arena, in Leicester, from 8am to 3.30pm on Tuesday 18 April 2023. Organisers are planning space for up to 200 businesses to attend. Free refreshments and a buffet lunch will be provided. Business support providers are also invited to set up stands and speak with delegates. However, support providers must have a free business offer for delegates to take up after the event. Speakers and a full agenda will be published in due course. Anyone with accessibility or dietary requirements, can email BGevents@bizgateway.org.uk prior to the event. The Business Gateway Growth Hub is part-funded by the ERDF. It is delivered by a partnership that includes Leicester City Council, Leicestershire County Council, East Midlands Chamber (Derbyshire, Nottinghamshire, Leicestershire) and the Leicester and Leicestershire Enterprise Partnership Limited (LLEP). Book your place now at https://bit.ly/BGGHexpo

Government “coming after” developers failing to sign Gove’s building safety contract

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Government “coming after” developers failing to sign Gove’s building safety contract
Michael Gove has secured the signatures of the country’s biggest housebuilders on the developer remediation contract, a major step toward ending the building safety scandal. Thirty-nine developers – including the top ten biggest housebuilders in the UK – all put pen to paper on the legally binding document before this week’s deadline and irreversibly committed themselves to fix unsafe buildings they developed or refurbished. Signatories represent a substantial proportion of the housing market, and the signed agreements will raise at least £2 billion for remediation costs. Developers will be legally bound to pay to fix their unsafe buildings and eligible developers who fail to sign will not be able to operate freely in the housing market. Developers who have yet to sign the contract include: Abbey Developments, Avant, Ballymore, Dandara, Emerson Group (Jones Homes), Galliard Homes, Inland Homes, Lendlease, London Square, Rydon Homes, Telford Homes. Following the contract deadline passing, Secretary of State for Levelling Up, Housing and Communities, Michael Gove, said: “I have been clear all along – those that are responsible for this crisis must pay. So, I am grateful to those developers who have done the right thing today by signing this legally binding contract. “We will be monitoring their progress on remediation very closely, to ensure this work is completed urgently and safely. For those developers that have taken responsibility, today offers the chance for a reset, so we can get on and build more of the safe, decent and affordable homes we so desperately need. “To those developers that have failed to sign the contract without good reason, let me be very clear – we are coming after you. If you do not sign, you will not be able to operate freely in the housing market. Your investors will see that your business model is broken – only responsible developers are welcome here. “But today should not be about developers, or about government. Today is about innocent leaseholders. I want to put on record my apology to all leaseholders for the years of misery and hardship you have endured. You should never have been ignored, asked to pay and let down. “Today marks a turning point – and an important step towards resolving this crisis. There is so much more to do, but I will always act to protect leaseholders and end this injustice.” Signatories are required to fix all life-critical fire-safety defects in all English buildings over 11 metres they had a role in developing or refurbishing. It also requires them to reimburse the taxpayer where government funds have already paid for remediation, with that money being used to make other buildings safe faster. For developers who have signed, their obligations start immediately. Leaseholders will benefit from a common framework of rights and responsibilities that will get their buildings fixed without them having to pay, and developers will be required to inform residents in affected buildings how they will be meeting these commitments. The Government will publish further information next week on how developers will be prohibited from carrying out major development or from receiving building control approval unless they sign and adhere to the contract, using Building Safety Act 2022 powers. Regulations will establish the Responsible Actors Scheme and set out the criteria for eligibility and the conditions of membership. Eligible developers who do not sign the contract will not be able to join the Scheme and will be subject to the prohibitions.

CAPITAL Seating secures succession plan through Santander UK-backed management buyout

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CAPITAL Seating secures succession plan through Santander UK-backed management buyout

Swann Systems, the holding company for CAPITAL Seating, has undergone a management buyout in a deal supported by FRP Corporate Finance and Santander UK.

Based in Leicester, CAPITAL Seating was established in 1968, and specialises in the supply of suspension seats and accessories to improve driver safety and comfort for all types of vehicle, as well as vehicle trimming services under the AUTO-TRIM Systems brand.

The company is an official distributor for major seat brands including Grammar, KAB and Recaro, and supplies a wide range of sectors, catering to trade and retail customers across the UK and Europe.

The sale to a new holding company will see the existing, long-serving management team led by Joe Beales, Darren Tuckley and Melinda Tyack assume control of the business, as part of the next stage in the company’s long-term succession planning. The buyout funded by Santander will also provide finance for further growth of the successful company into the future.

The deal sees an exit for the Swann family, who have been involved in owning and managing the business since its inception, with current Managing Director, Stephen Swann, transitioning into a consultancy role to provide on-going non-executive support for the management team.

FRP Corporate Finance was appointed to assist CAPITAL in raising new debt facilities to support the management buyout. Led by corporate finance partner Harry Walker and senior manager Fahim Kassam, the team sourced a number of competitive offers from several traditional and alternative debt funders and worked closely with the team at CAPITAL to identify Santander as the funding provider that would best suit the business’s ambitions.

Commenting on the deal, Harry Walker, director at FRP Corporate Finance, said: “For any business owner, formulating a viable succession plan is a key step in ensuring that the vision they have worked so hard to deliver is continued into the future.

“With this in mind, we’re glad to have been able to support CAPITAL with its management buyout and financing in anticipation of future growth. We’re excited to see where they go next and wish the Swann family, the management team and everyone at the company the very best.”

Stephen Swann, Managing Director at CAPITAL Seating, said: “Since the business’s founding more than 50 years ago by my father, we’ve prided ourselves on being a local employer that strives to deliver the best client service in our industry.

“I am proud to be handing on the business to a management team that have worked alongside me and led the business for a number of years now. The company is in a great place for further growth and development in the future and this deal will provide a fantastic platform for the team to take it forwards.

“Fahim and Harry at FRP Corporate Finance exceeded our expectations in securing a range of attractive funding options for the buyout, whilst ensuring the deal was transacted smoothly for the benefit of all parties. We’re very thankful for their support and really appreciate the value that their involvement in the deal added.”

Simon Clewlow, director, Growth Capital, at Santander UK said: “We are delighted to provide this exciting business with funding to support its management buy-out and look forward to working with it as it grows over the years to come.”

FRP Corporate Finance provided fund-raising, project management and deal structuring advice, with tax advisory support from Rowley’s Chartered Accountants.

A team from BHW Solicitors led by Steve McElhone provided legal advice to the vendors, with a team from Howes Percival led by Jahid Ali, Oliver Brookshaw and Haydon Simmonds supporting the MBO team and company.

A team from Browne Jacobson led by Emma Hinton and Chereta Edmeade provided advice to the Santander UK team, led by Simon Clewlow and Paul Elliott. Pippa Miller-Hawkes and Phil Todd from BSN Associates provided financial due diligence to Santander UK.

Business insolvencies hit four-year high

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Business insolvencies hit four-year high

The number of insolvent businesses in England and Wales has hit a four-year high, with company directors choosing increasingly to shut down their companies voluntarily.

This is according to the Midlands branch of insolvency and restructuring body R3 and follows statistics published [14/3/23] by the Insolvency Service which show that corporate insolvencies rose by 6% in February to 1,783 compared to January’s total of 1,682, and by 17.5% in comparison with February 2022’s figure of 1,518.

The government statistics also show that corporate insolvencies in England and Wales increased by 160.3% against February 2021’s total of 685, and by 32.6% compared to 1,345 in February 2020.

R3 Midlands committee member Stephen Rome, a director of Thursfields Solicitors in the region, said: “Corporate insolvency numbers are at their highest level in four years due a rise in Creditors’ Voluntary Liquidations. Numbers for this process exceed those for 2022, 2021, 2020 and 2019 as more and more directors are deciding to close their businesses.

“After nearly three years of lockdowns, supply chain issues, rising costs and falling revenues, many business owners have simply had enough, and are shutting up shop before they are forced to.

“Trading conditions remain tough in the region – and it seems like the traditional Christmas and New Year trading period didn’t give them the boost they needed to survive.

“People are still very worried about money and the economy and are reluctant to spend on anything other than the basics. At the same time, the costs of energy, fuel and wages continue to be a major concern for businesses.

“Now is the time for directors to be aware of the signs their company is struggling and to seek appropriate professional advice. Cashflow issues, payment delays and rising stock are all indicators of a business in distress. The earlier directors seek help, the more options are available to address the challenges they face.”

Fundraising target quadrupled as MHR employee shaves head in support of mental health charity Mind

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Fundraising target quadrupled as MHR employee shaves head in support of mental health charity Mind
20-year-old Nottingham local, Martin Bassey, has ‘braved-the-shave’ this week and raised over £1,200 for mental health charity Mind – more than four times his fundraising target of £300. Martin works in the marketing department at Ruddington-based HR, payroll, and finance specialists MHR. Contributions have come from friends, family, colleagues and a £500 donation from MHR itself. Martin’s mobile barber arrived at MHR’s office on Monday morning where the transformation to his new, sleek look was filmed live for his JustGiving page. At any given time, one in six working-age adults have symptoms related to mental ill health, yet mental health services are often lacking funding. Mind states that care services are largely under-resourced, understaffed and overstretched, and that is despite significant awareness being raised around mental health during the COVID-19 pandemic. Martin recently understood what it is like to be negatively impacted by poor mental health and realises the importance of a strong support network of friends and colleagues. He is an advocate for those without this structure and for the lifesaving support charities like Mind offer the vulnerable, particularly young men with the male suicide rate standing at 15.8 per 100,000 – almost three times higher than for women (ONS). Mind is a mental health charity that focuses on tackling the stigmas of mental health in all areas from healthcare, work life, and law. The charity offers informative and supportive services that in the last year were accessed 21.4 million times. Mind also lobbies government and local authorities on behalf of people suffering from poor mental health. Jessica Mills, chairman of MHR, said: “Martin’s openness about his recent mental health struggles and his efforts raising money for Mind have been an inspiration for the team at MHR. His charitable nature has really shone through in the last few weeks and Monday was an exciting culmination for his fundraising campaign. “As an employer we believe in raising awareness about mental health issues and ensuring people get the right support, so we’re delighted to back this initiative and know that the funds will go to Mind, towards helping those in need.” Martin Bassey, business development representative at MHR, said: “I might be sporting an ‘interesting’ new look, but I know this has all been for a very worthy cause. Mental health services have suffered from lack of funding in recent years, but charities like Mind play a critical role helping to support those in need. If shaving my head helps just one individual in difficulty, then that can only be a positive thing.” You can donate to Martin’s fundraising efforts here: https://www.justgiving.com/page/martin-bassey-1676990126679
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