Green light recommended to convert former Midland Railway Institute building in Derby

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Green light recommended to convert former Midland Railway Institute building in Derby
Plans to convert the former Midland Railway Institute building in Derby, which is now the Waterfall Public House, for residential use (while retaining the pub in a reduced form) have been recommended for approval.
The building is a non-listed heritage asset, which has historic association with the railway industry in Derby. The building is a two storey, high ceiling, late 19th Century, ornate red brick building, which was originally an education and recreational facility for rail workers and now comprises a public house and associated function rooms and pool room, kitchen and toilet facilities. The building also houses a former concert hall, which is currently vacant and in poor repair. Permission is sought to retain the public house, to the ground floor and southern end of the building, and convert of the rest of the building to residential use, to form 31 one and two bedroom apartments over two floors and through the subdivision of the principal rooms and formation of mezzanine levels to some of those rooms to form additional accommodation. The proposal involves some demolition of some 20th Century extensions which are on the rear of the building and include a two storey toilet extension and external staircase. A single storey outbuilding to the north west boundary of the site, is proposed to be renovated and altered to form cycle and bin store for the use of residents. The existing rear yard is also proposed to be landscaped to form a private amenity space for residents of the building.

Apartment plans for Derby hotel tipped for approval

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Apartment plans for Derby hotel tipped for approval
The demolition of a Derby hotel, to make way for new apartments, has been recommended for approval. The plans from Elgie Properties would see the La Gondola hotel on Osmaston Road replaced with 42 flats in two blocks.
The proposals for the closed two-storey hotel, which comprised of 20 bedrooms, a restaurant, function rooms and associated parking, follow the refusal of a larger scheme. The new application sees the scale of the development reduced and also looks to address concerns over bat activity.

Plans in for Leicestershire battery site

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Plans in for Leicestershire battery site
Following a period of public consultation and planning assessment, Exagen has submitted plans for Normanton Energy Reserve, a 500 MW / 1 GWh grid-scale battery site on land to the northeast of Earl Shilton, Leicestershire. With plans for further consultation with the local community, the site is a blueprint for co-locating energy with community green spaces and boosting biodiversity. Once built, the battery will be one of the largest in the UK and capable of powering 235,000 homes for two hours, the same number of homes as in Sheffield, or 80% of the homes in Leicestershire, the county in which it is situated. The £350 million battery site, which is around ten times larger than the majority of battery projects currently providing storage for the grid, will connect directly to the transmission network, playing a vital role in managing natural fluctuations in intermittent renewable energy. Sites like this are essential in helping the UK to transition to net zero and securing our home-grown energy supply, easing our reliance on foreign fossil fuels, and addressing fuel poverty. Exagen, a UK developer of renewable energy, is committed to a community-based approach, with plans to use approximately 45% of the 19 acres of land to improve biodiversity. This will include extending Normanton Millennium Wood with construction of a new permissive path open to the public, as well as the option of wildflower meadows, providing land for beekeeping and new hedgerows and tree planting. The project will deliver a more than 44% net gain for biodiversity habitat units, compared with the existing baseline habitats. The company will also establish a dedicated community fund to spend on improvements in the local area, such as sponsoring education courses for the skills the UK will need to develop renewable projects in the future. In order to decide how the land and fund is used, the company will consult with local communities, inviting citizens in the area to have their say. The project will be energised and connected to the grid in 2028 with much of the construction being in the year before this, however earthworks and landscaping would be implemented in advance to allow time for the planting to establish and begin to mature before the main development is constructed. Exagen will look to partner with local businesses on the project, inviting local contractors to get involved. Mark Rowcroft, development director at Exagen, said: “We’re committed to transforming energy for good, bringing batteries onto the grid to ensure we can store energy and keep the lights on when the sun doesn’t shine or the wind doesn’t blow. That’s why we’re excited to work with local communities and businesses to ensure the project is not only bringing clean, home-grown energy onto our grid, but that the site is also benefitting the local area. “Over the next few months, we’ll be announcing a variety of opportunities for individuals and businesses to get involved. We look forward to hearing from those in Thurlaston, Earl Shilton and the surrounding area about how we can make this site best work for them long-term.”

Rising prices add almost 20% to minimum cost of retirement

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Rising prices add almost 20% to minimum cost of retirement

The amount of money needed to retire at a minimum living standard has increased by almost 20% over the last year, according to new analysis.

This substantial increase highlights the need for pension reform to help more people achieve an adequate income in retirement, says the Pensions and Lifetime Savings Association (PLSA), who funded the research. This increase in what is needed for a Minimum Retirement Living Standard is in part a result of the higher proportion of a minimum budget going towards the things that have risen the most in price: food and energy. Based on independent research by Loughborough’s Centre for Research into Social Policy (CRSP), the Retirement Living Standards (RLS) are rooted in detailed discussions with groups of members of the public, who consider what are realistic and relevant expectations for retirement living. These expectations are described through three different baskets of goods and services needed to reach a minimum, moderate and comfortable standard of living in retirement. These baskets comprise six categories: household bills, food and drink, transport, holidays and leisure, clothing and social and cultural participation. The RLS are regularly reviewed to ensure they keep up with changes in the public’s expectations of what retired households need as well as the changes in prices on the shelves to remain relevant to real world retirement spending. The RLS are being used across the pensions and savings industry in the UK, helping savers to understand what they’ll need in retirement and how this compares to projected pensions income. Through the communications of more than 100 pension schemes and organisations, including some of the largest and best-known brands, the Standards are reaching up to 35 million savers. The annual increase in what is needed to reach each living standard over the last year is by far the largest since the RLS were first established in 2019. Across all of the RLS, the increase in the price of domestic fuel has been the most significant factor in increasing what is needed overall. Between 2021 and 2022, the weekly cost of domestic fuel rose by around 130%. The increase in the weekly cost of domestic fuel accounts for between 30-40% of the increases in the overall budgets for a minimum, moderate and comfortable living standard in retirement between 2021 and 2022. Increases in the costs associated with motoring at the Moderate and Comfortable RLS over the past year – driven by increases in the cost of second-hand cars and in the cost of petrol/diesel – have resulted in this element of the budgets increasing by 16%. Between 2021 and 2022, the cost of a Minimum RLS increased from £10,900 to £12,800 – or 18% – for a single person and from £16,700 to £19,900 – or 19% – for a couple. The Minimum Retirement Living Standard is the same as the Joseph Rowntree Foundation’s Minimum Income Standard (MIS) and reflects what members of the public think is required to cover a retiree’s needs, not just to survive but to live with dignity – including social and cultural participation. It includes £96 for a couple’s weekly food shop, a week’s holiday in the UK, eating out about once a month and some affordable leisure activities about twice a week. It does not include budget to run a car. Rising food and fuel prices have contributed significantly to the increase in the Minimum standard. The update also saw the amount of food included within the budget increasing to bring it into line with the up-to-date nutritional research on a healthy diet. The disproportionate increase in the cost of retirement at the Minimum RLS means the government’s commitment to the state pension triple lock, announced in the most recent Autumn Statement, is especially important. Rising by a record 10.1% to £10,600 per year, a couple who are each in receipt of a full new state pension would reach the Minimum Retirement Living Standard. The Moderate RLS increased 12% to £23,300 for a single retiree and by 11% to £34,000 for a couple. The Moderate Retirement Living Standard provides more financial security and flexibility than the minimum. This moderate level includes £127 for the weekly food shop for a retired couple, a two-week holiday in Europe and the cost of eating out a few times a month. At the Comfortable RLS, retirees can expect to have more luxuries like regular beauty treatments, theatre trips and three weeks holiday in Europe a year. A couple could spend £238 per week on food shopping. At this level, the cost of living increased 11% to £37,300 for one person and 10% to £54,500 for a two-person household. Matt Padley, co-director of CRSP, who led this research, said: “This latest analysis shows the impact of increases in the cost of essentials – such as food and fuel – on what is needed to be able to live with dignity in retirement. “The Minimum Retirement Living Standard sets out what the public think we should all able to have and do in retirement – this isn’t about luxuries, it’s about meeting your basic material needs and being able to take part in the world around you. The reality is that many are not able to do this and face impossible decisions about what to prioritise. As a society we need to work to ensure that everyone is able to reach this minimum in retirement.” Nigel Peaple, director policy & advocacy, PLSA, said: “The past year has been an enormously challenging one for many households in the UK. “Inflation has risen to its highest rate in 40 years with the cost of essentials and domestic fuel soaring, putting substantial pressure on incomes for working age and retired households, particularly for those on low incomes. “These figures underline why the Government was right to increase the State Pension in line with the Triple Lock in the Autumn Statement. “The jump in the Retirement Living Standards underscores the need for the Government to adopt the PLSA’s recommendations on pensions set down in our recent report, Five Steps to Better Pensions. “These include the need for the Government to adopt clear national objectives for retirement income, to ensure the state pension protects everyone from poverty and, later this decade once the cost-of-living crisis has passed, to increase the scope and level of automatic enrolment pension contributions.”

2023 Business Predictions: Ed Tripp, consultancy director at East Midlands Environmental Consultants (EMEC)

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2023 Business Predictions: Ed Tripp, consultancy director at East Midlands Environmental Consultants (EMEC)
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 Ed Tripp, consultancy director at East Midlands Environmental Consultants (EMEC). There is no doubt 2023 is going to be year of change for the construction and planning sector. Under the Environment Act 2021, all planning permissions granted in England (with a few exemptions) have to deliver at least 10% biodiversity net gain from an as yet unconfirmed date, expected to be in November 2023. Now more than ever sustainability has become a key focal point for residential and commercial developers. Our role as the consultant ecologist is as much about protecting habitats as it is about offering added value advice to developers so that the communities they create incorporate diversity. I predict the role of the environmental consultant will become even more important as new biodiversity legislation is implemented. The cost of living crisis and rising inflation rates are also going to have a major impact on Government funding which under normal circumstances would be utilised for further conservations efforts. This lack of funding could also cause a skills gaps within the sector. Finding the right candidates, with the right technical expertise is becoming increasingly difficult. Despite it being a challenging year, the more we support nature, the more it supports us.

2023 Business Predictions: Andrew Macmillan, partner and office head of Gateley Nottingham

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2023 Business Predictions: Andrew Macmillan, partner and office head of Gateley Nottingham
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 Andrew Macmillan, partner and office head of Gateley Nottingham. The predicted decline in the UK economy for 2023/2024 will mean minimal growth. This will lead to companies restructuring to ensure they remain cost effective, while many may enter administration, leading to redundancies. If instability continues it will become harder for businesses to make decisions on investments and they will hold off until the economy improves. Unless a solution is reached in Ukraine, fuel and energy costs will unlikely improve. This will place many businesses, particularly those in hospitality and retail, under pressure and unable to survive, leading to job losses and having to close. Many retailers are moving completely online, which is more bad news for the high street. Remote working is continuing post-pandemic. Employees have got used to the flexibility hybrid working brings and some businesses may consider a purely remote workforce, removing the need for expensive office space rent, rates and utilities. This is not good news for town and city centres. Another knock-on effect is technology developments and an increase in usage of AI. Many businesses will develop solutions to enable automation of manual and routine workloads.  Additionally, businesses would be advised to ensure they are familiar with the latest GDPR regulations and that they have good protection against cyber-attacks. Last but not least, the UK labour market is likely to remain very tight, resulting in low employment and rising job losses. Many companies are implementing freezes on recruitment and the minimum wage increase will impact on the potential for pay rises and bonuses for employees.

Green light for Colwick trade counter, urban logistics and industrial scheme

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Green light for Colwick trade counter, urban logistics and industrial scheme
Developer Chancerygate’s plans to speculatively build 98,000 sq ft of trade counter, urban logistics and industrial space in Colwick, Nottingham, have been approved. Called Colwick Gateway, the proposed scheme will be located on a 6.35-acre site in Colwick Industrial Estate and comprise 13 Grade A leasehold units ranging from 3,500 sq ft to 27,200 sq ft, and the erection of a building for use as a building merchants. The projected gross development value is around £25m. The site, which was formerly a major fuel distribution centre for Total Petroleum and has been unused for a number of years, is located off Colwick Loop Road approximately five miles east of Nottingham city centre. Chancerygate development manager, Mark Garrity, who is based in the company’s Birmingham office, previously said: “Our proposed plans at Colwick aim to satisfy the high demand for Grade A sustainable trade counter, urban logistics and industrial accommodation in the Nottingham area. “The site is situated in a prime industrial area of Nottingham, meaning it is best placed to serve businesses operating within the city as well as across the wider East Midlands region. “The proposed development will help support both the local and regional economy to stimulate further investment and job creation.” Agents for Colwick Gateway are FHP and Gerald Eve.

Things to consider before expanding your business into Leicester

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Things to consider before expanding your business into Leicester
The Midlands have a lot of potential for running a business. You have major cities such as Birmingham, Nottingham, Wolverhampton and, of course, Leicester. Leicester may not be as big as Birmingham, but it offers a great chance to expand your business into a new area without busting your budget. However, you need to consider a few things before doing this, which we will explore below. Where Will You Be Based? One of the first things you should think about when expanding into Leicester is where exactly you will be based in Leicester. There are many lucrative opportunities within Leicester. Your business may suit being in the city centre, around Highcross, or it may be that a surrounding outside village could be better. Areas such as Hinckley, Narborough and Oadby have the potential for business expansion. You may need to work hard to get your business’s name out there. This could involve you engaging in marketing copy. Overall, you need to ensure the place you are expanding to is aware of who you are and that they are even interested. Is There Demand For Your Services? Before bringing your new business over to the heights of Leicester, you should ensure that there is suitable demand for your services. This means you need to do some key market research to find out if there is anyone offering what you do or if it is something that people would be interested in if not. You can conduct various surveys across the Leicester area so that you can gather as much information as possible. The more information you have regarding this, the better informed you will be to decide and plan forward. You can use a polling platform such as Vevox that allows you to receive instant engagement and feedback. You can also use tools that allow you to create quizzes and run Q&A sessions. This can give you more insight into your customer base. This could also be done to your team, allowing you to find out what they think, and help prep everyone for the big expansion. Will You Need To Hire Locally? Once you’re aware of the demand in Leicester, then you will need to think about who you will need to employ potentially. Expanding your business to a new area such as Leicester will mean that you need local help. While you may be able to bring your employees over from your current store or location, it will be in your best interest to hire locals. This will be more convenient and allow you to gain more useful and relevant information from potential local experts. How Will You Source Funding? It will likely be costly for you to expand your business into a new area such as Leicester. As such, you will need to work hard to source funding. This funding could come from you directly, or you could be looking for angel investors. Angel investors have money that they are looking to invest in growth opportunities and are a vital source of funding for many businesses. You should also consider geographical sources of funding. As you will be looking to expand into Leicester, you could find business grants specific to this area. If you don’t look around and ask, then you won’t be able to find out. You may also partner with pre-existing businesses in Leicester that can help you gain a foothold.

Streets covers the closure of the Certificates of Tax Deposit scheme, the launch of Entrepreneurs Connect, and more in latest news bulletin

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Streets covers the closure of the Certificates of Tax Deposit scheme, the launch of Entrepreneurs Connect, and more in latest news bulletin
In its latest news bulletin, Streets Chartered Accountants covers the closure of the Certificates of Tax Deposit scheme, the benefits of an optimistic approach to business in 2023, the launch of the Entrepreneurs Connect initiative, and more. Closure of Certificates of Tax Deposit scheme ​​​​​​​The Certificates of Tax Deposit scheme had been available for many years. Under the scheme, a taxpayer could purchase a certificate from HMRC and subsequently use the certificate either to pay a tax liability or obtain a refund. They were often used where a liability was in dispute with HMRC, and a certificate was purchased to both put funds in place to pay the liability should HMRC win the dispute and also to mitigate the interest charge on the eventual payment of the liability… The benefits of a more optimistic approach to business in 2023 It is widely recognised and reported that business confidence declined during 2022, with the start of 2023 perhaps seeing little in the way of renewed confidence. The continued conflict in Ukraine, the continued aftershock of Brexit and the rising costs of living impact in one way or another on business optimism. Perhaps then business leaders, more than ever, need to focus on the importance of optimism as a state of mind, and the impact it has on the realisation of strategy, performance and success… Entrepreneurs Connect Streets are delighted to invite all entrepreneurs to the launch of Entrepreneurs Connect, an initiative that we have co-founded with the University of Lincoln’s Research & Enterprise Department. This new network aims to provide a creative and interactive platform, in the form of dynamic quarterly events and workshops, to bring together Greater Lincolnshire’s entrepreneurs. Like-minded, forward-thinking business founders will be able to exchange knowledge and create a strong and inclusive network of enterprising minds… Midlands Family Business Awards Launch 2023 Streets are delighted to continue to sponsor the Midlands Family Business Awards in 2023. The awards team have made some exciting changes, but the aim remains the same — to celebrate and shine a light on our region’s great family businesses. Streets would like to extend an invitation to members of family businesses to join them for lunch and be the first to find out about the changes that have been made and the 10 exciting Award categories for this year. The awards team will also detail the key dates and explain the 2023 entry and judging process… SmartMoney – January/February 2023 ​​​​​​​ SmartMoney is the bi-monthly magazine from Streets Financial Consulting plc, its independent financial planning arm, full of news and helpful information on personal financial planning…

Government must sort out EU trading relations amid Brexit problems for businesses, says Chamber

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Government must sort out EU trading relations amid Brexit problems for businesses, says Chamber
The East Midlands Chamber has called on Government to help firms trade more freely with overseas markets after research highlighted the Brexit trade deal is not delivering for them. Ahead of the third anniversary of the UK formally leaving the European Union later this month, East Midlands Chamber wants to see red tape cut and barriers to trade with EU countries reduced, along with enhanced support for companies looking to enter new global markets. A study by the British Chambers of Commerce, of which East Midlands Chamber is a member, found more than three-quarters (77%) of UK firms affected by the Trade and Co-operation Agreement (TCA) signed in December 2020 say it is not helping them to increase sales or grow their business. More than half (56%) of the 1,168 business leaders surveyed said they have faced difficulties adapting to the new rules for trading goods, while four in five (80%) had reported increased costs of importing since January 2022. As a result, 53% had seen their sales margins decrease, while 70% of manufacturers had experienced shortages of goods and services.

‘Honest dialogue’ needed between UK and EU leaders

East Midlands Chamber Chief Executive Scott Knowles said: “As a region of manufacturers, the East Midlands produces goods that are distributed around the world in industries ranging from automotive and aerospace to food and medical. “As we have stated in our Business Manifesto for Growth, there is a big opportunity to back us further as a Centre of Trading Excellence – a region that makes things, moving them and innovating in how we do this – to grow both the local and national economy. But the gridlock many firms have experienced at borders is having a significantly detrimental impact on trading relationships in Europe. “Businesses want our political leaders to move on from the debates of the past and find ways to trade more freely. This means having an honest dialogue with our EU counterparts about how we can improve our trading relationship. “We need to cut red tape and reduce barriers to trade with our neighbouring markets, but also make it easier to export to non-EU countries. “There should be enhanced financial support for businesses looking to enter new overseas markets, from initial exploration through to establishment. This should include funding an expanded trade mission and trade fairs programme, specifically targeted at SMEs and those looking to export for the first time. “With a recession looming, we must remove the shackles holding back our exporters so they can play their part in the UK’s economic recovery. If we don’t do this now then the long-term competitiveness of the UK could be seriously damaged.”

Five recommendations on improving UK-EU trade

The British Chambers of Commerce has published the TCA Two Years On report, which sets out 24 recommendations to increase UK-EU trade. Its top five proposals for quick action are: 
  • Create a supplementary deal with the EU that either eliminates or reduces the complexity of exporting food for SMEs
  • Establish a supplementary deal, like Norway’s, that exempts smaller firms from the requirement to have a fiscal representative for VAT in the EU
  • Allow CE-marked goods and components to continue to be used in Great Britain after 2024
  • Make side deals with the EU and member states to allow UK firms to travel for longer and work in Europe
  • Reach an agreement on the future of the protocol on Ireland/Northern Ireland with the European Commission in the early months of 2023, to stabilise our trading relationship.
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