Holmewood site acquired to deliver £60m, 247-home development
Chesterfield-based Avant Homes Central has acquired a 28-acre site in Holmewood to deliver 247 new-build homes with a gross development value (GDV) of around £60m.
Called Earl’s Park, the development is located just a 10-minute drive from Chesterfield town centre on Tibshelf Road.
The development received planning permission in December last year, and will comprise a mix of two, three, four and five-bedroom homes.
Work is due to start on site in February.
Of the 247 homes, 20 per cent have been designated to affordable housing. Avant Homes has also committed to community contributions of around £2.3m towards the provision of local education and healthcare.
The first homes are scheduled to be ready for occupation in September with a showhome expected to open this summer. The overall construction period is expected to take approximately four and a half years.
The Imps post £2m loss despite rising turnover
The Imps have posted a £2m loss in annual results, despite turnover being on the rise with crowds returning to stadiums.
Lincoln City Football Club said turnover in 21/22, its first full season in League One with fans in attendance, was at its peak over the past four years, growing to £6.9m from £5.6m in the year prior on the back of significant increases in matchday and commercial/hospitality revenues.
While the football club incurred an increased loss, of £2m for the year, still affected by the aftermath of the pandemic and with all expenditure significantly increased, the Imps’ losses amounted to £186k less than the 2018/19 League Two promotion season.
Lincoln City Football Club finished the season in 17th position.
Nottingham spin-out raises almost £1m to commercialise Tourette’s wrist device
A new wrist device to help control Tourette’s Syndrome is a step closer to being commercialised after University of Nottingham spin-out company Neupulse raised almost £1m in additional funding.
Neupulse completed a second round of funding in December 2022 and raised £918,000 from existing investors and groups of High Net Worth individuals from around the world.
The investment will start the development of the commercially available wearable for use by individuals with Tourette’s Syndrome to stop tics.
“This is an exciting time for the company as we move forward to the next stage of our development by starting to design the wearable that will bring choice to thousands of individuals that have Tourette’s Syndrome,” said Paul Cable, chief operating officer at Neupulse.
The spin-out company has used research from scientists from the University of Nottingham’s School of Psychology that uses repetitive trains of stimulation to the median nerve (MNS) at the wrist to entrain rhythmic electrical brain activity – known as brain-oscillations – that are associated with the suppression of movements. They found that rhythmic MNS is sufficient to substantially reduce tic frequency and tic intensity, and the urge-to-tic, in individuals with TS.
Tourette’s Syndrome is a neurodevelopmental disorder that is usually diagnosed between the ages of eight and 12. It causes involuntary sounds and movements called tics. Tics are involuntary, repetitive, stereotyped movements and vocalisations that occur in bouts, typically many times in a single day, and are often preceded by a strong urge-to-tic, referred to as a premonitory urge (PU).
“We’re delighted to have secured the funding for the next phase of development. In addition to raising additional investment in the company, we have also successfully completed our double-blind sham-controlled clinical trial of the Neupulse device, demonstrating the effectiveness of the Neupulse device in reducing tics in Tourette syndrome. I very much look forward to developing the commercially available device,” said professor Stephen Jackson, research lead at the University of Nottingham and director at Neupulse.
Since being launched in March 2021 Neupulse has achieved several significant milestones including development of a prototype device for use in a trial that has just been completed; the results of this double blinded study are being analysed and are due to be published later this year. An app is also being developed to support individuals in recording their tics. 400 jobs at risk as Central Co-op plans to close Leicester distribution centres
Central Co-op is planning to close its three distribution centres and garage in Leicester and transfer distribution operations to the Co-operative Group.
The company’s proposal puts nearly 400 jobs at risk, although the food retailer has given a commitment to offer alternative roles to all staff affected.
John Gorle – Usdaw (the retail trade union) national officer, says: “This is devastating news for staff affected by the company’s proposal, our members are deeply concerned about their future employment prospects.
“We will now enter into a period of meaningful consultation where Usdaw reps and officials will interrogate the company’s business case for the transfer of distribution operations.
“We welcome that Central Co-op has given an early commitment to offering alternative roles to all staff affected, both within Central Co-op the Co-operative Group. Our priorities are to avoid redundancies and secure the best support package possible.
“In the meantime we are providing our members with the advice, support and representation they need during this period of uncertainty.”
Central Co-op is one of the largest independent retail co-operative societies in the UK, with a history stretching back over 175 years, over 440 trading outlets and around 7,700 colleagues.
2023 Business Predictions: Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire.
The current cost of living crisis is unsettling for all, with our landlords and tenants sharing concerns about keeping up with rent.
The recent release of the 2022 State Of The Lettings Industry report showed that almost half of tenants (46.48%) are concerned that the current economic climate could impact their ability to pay rent as the crisis continues.
Across the country, 2023 will see millions of homes facing financial difficulty and I anticipate this will mean the housing market will slow as buyers – and builders – become hesitant at making large financial investment.
Add to that the recent dramatic hike in mortgage rates and the end of the Help To Buy scheme and it is likely that we will see the previous property boom begin to slow down in the coming months.
The rise in interest rates has seen mortgage rates soar, which will have a knock-on effect on buyer confidence. Landlords will also be impacted by higher mortgage repayments on their properties.
But rather than house prices drop, I believe they are more likely to plateau momentarily, as demand is still there. It is a sellers’ market, as supply remains low.
First time buyers are still likely to struggle to get onto the property ladder with prices of even the smallest properties hitting a record high in 2022. Those who are able are likely to be hesitant with the rising rates and uncertainty.
The Stamp Duty change announced in Kwarsi’s autumn mini budget is one of the only measures to have stayed in place to help buyers. The previous Stamp Duty holiday helped to keep the market buoyant so this could have a positive effect on the market and offer some relief to wary house buyers.
2023 Business Predictions: Sue Knight, partner, Grant Thornton UK LLP in the Midlands
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Sue Knight, partner at Grant Thornton UK LLP in the Midlands.
2022 has been dominated by political uncertainty and volatility, combined with geo-political instability in Europe which caused soar-away inflation. This continues to pose profound difficulty for households and businesses alike as the cost of borrowing has increased and the Bank of England looks to put the brakes on inflation.
With inflation at a 41-year high and casting a shadow over the economy, the last few months and the most recent Autumn Statement were always going to be focused on trying to fix the state of the nation’s finances with a package of tax hikes and spending cuts.
That said, all the tax changes in the most recent Autumn Statement were heavily trailed and the emphasis on energy security, infrastructure, and research and development as drivers of growth will be welcomed across the Midlands.
Also in the Statement, many of us were pleased to see the commitment to invest in HS2 rail staying high on the agenda. The acknowledgement that regional devolution is a key lever of growth was good to hear too. We look forward to learning more about the new ‘trailblazing” devolution deals between the Government and key cities. Levelling-up our economy remains very much a work in progress, with many people in our region struggling amid the current cost of living crisis.
2022 was also a busy year for our Corporate Finance team, with very strong investor demand from UK private equity and more recently international corporates for technology, healthcare and tech-enabled business services companies and businesses with strong ESG credentials.
IT firm’s Chesterfield HQ refurb wins approval
Matthew Montague Architects has secured planning permission for the full refurbishment of Old Birdholme House on Derby Road, Chesterfield – the HQ of technology business, CCS Media.
CCS Media has 13 offices across the UK and has been based in Chesterfield for 40 years.
Chesterfield Borough Council has granted planning permission for internal structural alterations and major refurbishment of the Grade II Listed commercial building.
The refurbishment of the 330 square meter building was specifically developed to enable CCS Media to create facilities that will carry the business forward for the foreseeable future and cement their position as a major employer in the Chesterfield area by providing facilities that enable the business to retain and strengthen the workforce; creating and sustaining employment.
The refurbishment will see an increase in open plan working spaces, improved accessibility and diversity, provision of a new, large, flexible training space and more intelligent energy efficiency. Plus, retaining, exposing and displaying more of the historic features of the building.
Works will begin on site later in the year.
Applications open for £1.3m Create Growth East Midlands
Creative businesses in the East Midlands can now apply for a free programme of support to accelerate business growth, create jobs, and prepare for investment.
East Midlands Creative Consortium (EMC²) has today begun accepting applications from high-potential creative businesses after being awarded more than £1.3million of Government funding.
Led by the Leicester and Leicestershire Enterprise Partnership (LLEP), the consortium provided one of six successful regional bids for the Government’s Create Growth Programme.
Andy Reed OBE, LLEP co-chair, said: “The creative sector has created almost 4,000 jobs since 2010 in Leicester and Leicestershire alone. The vast majority of those jobs are in microbusinesses and Create Growth will help these high-potential employers to scale up.”
EMC² has commenced its regional project across Leicester and Leicestershire, Derby and Derbyshire, Rutland, and Greater Lincolnshire.
It is backed by a coalition of partners including regional universities, Innovate UK, local businesses, and non-profit organisations.
The EMC² website is now live and accepting applications from local creative organisations. The programme starts in the Spring and runs to 2025.
It aims to support 100 creative businesses in four cohort groups across the three years. Around 50 creative organisations have already made early-stage expressions of interest.
EMC² is available to growing creative businesses operating in:
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advertising and marketing
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architecture
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crafts design and designer fashion
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film, tv, video and radio
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photography
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IT, gaming, software and computer services
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publishing
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museums, galleries and libraries
Since funding was confirmed by the Department for Digital, Culture, Media and Sport, the LLEP has been working with partners to develop a delivery plan that meets the specific needs of local creative businesses. It will offer bespoke business support and investor outreach activities.
Applicants will also gain the opportunity to go on and apply for finance support from a £7m Government fund delivered by InnovateUK.
Creative industries are worth more than £100 billion to the UK economy and account for 2.3 million jobs.
De Montfort University Leicester helped the LLEP to prepare the Create Growth bid.
Helen Donnellan, PVC Regional Business and Innovation, said: “The Create Growth fund has the potential to transform the creative sector by supporting ambitious businesses to scale up their business in the region.
“We already have one of the largest creative clusters outside of London but as Andy says, many of these are microbusinesses and this fund will help them to grow, creating more jobs and creating a thriving creative centre here.
“We’d encourage creative businesses to apply for this funding and not miss this opportunity.”
Leicester City Mayor, Sir Peter Soulsby, said: “This investment will help create new jobs and opportunities for growth, not just in Leicester but across the East Midlands, and we look forward to working with our partners to continue to develop this important sector.”
East Midlands businesses offered fully-funded support for technology growth
Businesses across Derbyshire, Leicestershire and Nottinghamshire are being urged to take advantage of the support available from the Digital Upscaler project before funding comes to an end.
The project, which is part-funded by the European Regional Development Fund and delivered by East Midlands Chamber, supports businesses looking to invest in new technologies to propel growth or to overcome barriers due to a lack of understanding of new technologies.
It offers businesses the knowledge, investment and capacity to scale-up by embracing new technologies, and includes:
· Intensive one-to-one adviser support from a team of digital experts
· Funded consultancy to support new technology integration
· An extensive programme of in-person, two-day digital workshops
· Peer networks and the East Midlands Manufacturing Network – a Chamber initiative launched last year as a peer-led network, regularly bringing together makers across the region.
Nearly 500 businesses have so far enrolled on and engaged with the programme, which runs until the end of June 2023.
Paul Humphreys, head of scale-up services at East Midlands Chamber, said: “Time and again, we’re told the Chamber’s ‘deep dive’ workshops offer hugely practical advice that can be implemented immediately when staff are back at their desks.
“Beyond our extensive programme of workshops – which are fully-subsidised for staff in businesses across Derbyshire, Leicestershire and Nottinghamshire – we’re offering one-to-one support from our digital advisers to businesses considered to be high growth. Those showing the best growth potential will be invited to apply for a consultancy award.
“By getting to know a business, we can help its senior management team improve their knowledge when choosing a solution, developer or system provider, and make informed and considered decisions about technology investments. Our ultimate aim is to ensure their digital solutions meet the desired performance and functionality needed for future growth.”
Rutland and Melton awarded £23m through Levelling Up Fund
£23m of funding has been awarded to Rutland County Council and Melton Borough Council to help boost the local economy and improve connectivity following a successful joint bid for the Government’s Levelling Up Fund.
Oakham and Melton Mowbray are historic market towns with huge potential for economic growth. This funding will focus on realising the economic potential of both areas by supporting five key projects focusing on economic innovation, cultural destinations, health science and mobility.
At the heart of Rutland’s vision is to maximise the potential of the health sector and improve the area’s mobility through the development of a new digital innovation facility and Mobi-Hub at the Rutland Memorial Hospital site.
The Council will also use the funding to support the economic regeneration of the area by the introduction of a mobile, digital visitor experience that makes the most of Rutland’s unique cultural assets.
The Rutland Memorial Hospital site proposals accommodate a £3.5m, 1000m2 facility, providing lab and light assembly space for the development of medi-tech level clinical trials, a Continuous Professional Development centre for clinicians working in the area and a training base for students involved in relevant disciplines at the local universities, including medical schools and schools of nursing.
This investment will build on the well-established understanding at Health Education England (now a core part of NHS England and Improvement), that the antidote to the skills shortages, at the heart of rural health inequalities, lies in the development and training of people in rural settings themselves.
The facility will also be a community health related hub, including a café and housing health trainers and potentially care workers developing their business on a self-employed basis.
Further funding will be used at the Rutland Memorial Hospital site as the County Council plan to implement a £6.5m, 500m2 travel anchor Mobi-Hub. The Mobi-Hub will be supported by a Demand Responsive Transport system based on the Bus Service Investment Plan approach developed by Rutland Council and extended to cover the Melton Borough area linking the overall package of Levelling Up investments. It will focus on two routes, which have been developed through evidence led analysis, with further refinement to be completed. This service aims to enable people to access work, learning and services more fully across the two market towns.
Rutland will also use the funding to include a £2m investment in the creation of a mobile, digital visitor experience to view two of the area’s unique heritage treasures – the largest Ichthyosaur fossil in Europe and the remains of a stunning 4th Century Roman Villa with an exceptional mosaic. Neither of these assets can currently be displayed easily to the public directly, however this funding will enable the council to create the virtual models, storage and touring facilities to enable the finds to be showcased.
Lucy Stephenson, leader of Rutland County Council, said: “We are delighted that our joint bid was successful and that we’ve been awarded this funding to invest in Rutland and Melton. This money will help us to support key priorities around reducing health inequality, increasing highly skilled job opportunities, improving transport and connectivity in our area and enhancing access to the county’s unique cultural attractions.”
Melton Borough Council will use the funding to develop over 2500sqm of flexible food and drink production units, creating a food and drink innovation showcase in the heart of Melton Mowbray. The Stockyard will also include a support service to help small or upcoming local producers develop and grow in the Rural Capital of Food.
In addition, the funding will be used to deliver a multifunctional event space at the stockyard which could host exciting events and activities throughout the year, bringing additional footfall and attracting repeat visitors to the area.
Complementing this activity, £2m of improvements will be made to the theatre on SMB group’s Melton campus. These improvements and upgrades will make the space more accessible and ensure it is able to secure and attract larger scale commercial events more often to provide a regular calendar of activity that will, alongside the stockyard, support the town centre and its burgeoning evening economy.
Joe Orson, leader of Melton Borough Council, said: “This is absolutely fantastic news for Melton and alongside the pre-Christmas announcement on the relief road, will provide a massive boost to the economy and regeneration of our borough.
“The delivery of these projects will enhance our reputation as the Rural Capital of Food, providing economic opportunities and support for established business and start up producers. Moreover, the creation of an event space at the Stockyard and investment into the theatre will together enrich our cultural offer and events, which will support the town centre and its expanding evening economy.
“I’m excited we can now start working with our partners on this long term project to ensure the proposals set out in the bid are delivered to our community as soon as possible.”
Alicia Kearns, MP for Rutland and Melton, has been supportive of, and involved, throughout the bid process: “I am absolutely delighted that Rutland and Melton’s Joint Levelling Up Bid has been successful! This is the most fantastic news and will change the future of so many of our communities.
“I have worked hard alongside Councillor Joe Orson and Councillor Lucy Stephenson to promote our wonderful Levelling Up Bid focused on rural innovation and I am just so pleased that our work has paid off.
“Rurality should never serve as a barrier to our thriving communities, and this funding will be truly transformative in promoting our local culture, health and transport infrastructure. Thank you to everyone involved and I look forward to seeing our plans become a reality!”
