Work starts on £2m children’s care home in Lincolnshire

Steve Fisher
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Work starts on £2m children’s care home in Lincolnshire

Lindum Group has started work on a £2m children’s care home designed by Kier Construction, Design & Business Services on behalf of Lincolnshire County Council.

The council is looking to create additional places in the county for children aged between 12-18 that require a safe place to stay. The project will involve the creation of a two-storey, six-bedroom traditional brick and block property, with PV solar panels on the roof to improve energy efficiency. The proposed building aims to appear as domestic as possible, providing a safe, homely feel. The home will also include staff accommodation, a dining room, kitchen, and lounge. It will also be fully accessible for those with disabilities. In addition, the building will be fully soundproofed, with acoustic floor, ceiling, and panels under the roof. The grounds will feature landscaped gardens, a new car park and a gated entrance, and will be protected by a six-foot fence. Lindum will also be taking on improvement works to the road leading up to the house, benefitting both the children’s home and the nearby theatre. The scheme will cost over £2m and is being jointly funded by the county council and the Department for Education. The works contract was awarded through the Pagabo Medium Works Framework. The project will create 15 new jobs. Cllr Mrs Patricia Bradwell OBE, executive member for children’s services at Lincolnshire County Council, said: “Over the last few years, we’ve seen a rising number of young people needing care, so it’s important we have enough accommodation here in Lincolnshire for those who need it. To that end, the council has earmarked funding for the creation of two new children’s homes at sites in Louth and Lincoln. “The new homes will provide high-quality facilities for children in care and will mean that fewer children will need to be placed in homes outside the county. This will ensure these children remain close to their local community and existing support networks, leading to better outcomes.” The Louth home will be located behind the Riverhead Theatre, on the site of the former Pilgrim School. Work to demolish the existing building is due to start on 7 November, with the home expected to be completed in late summer 2023, with the first residents arriving in autumn 2023.
 

East Midlands businesses restructuring to cope with mounting cost pressures

Tess Egginton
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East Midlands businesses restructuring to cope with mounting cost pressures

A combination of inflationary pressures, rising interest rates, high energy costs, and ongoing supply chain issues are significantly impacting the financial viability of many businesses, according to new research from Grant Thornton UK LLP.

The business and financial adviser’s latest Business Outlook Tracker found that over a quarter (28%) of mid-sized businesses in the East Midlands have restructured their operations to face these challenges, with a further 48% having plans to do so.

30% of business leaders in the region have already reviewed their headcount due to the impact of rising costs and inflationary pressures, with an additional 36% intending to do so.

The survey recorded that optimism levels from respondents on their business’s funding position dropped to 64%, which is a fall of -28 percentage points (pp) compared to August.

Many businesses in the region are having to secure additional finance to work through the escalating costs facing the market, with 36% already having secured further funding and 38% planning to do so.

The strain on funding has also led to a considerable drop in investment expectations across most areas monitored by the Tracker. The most significant drops compared to the last round in August 2022 were seen in skills development (-33pp), recruitment (-27pp) and employee wellbeing (-23pp). There was also a -19pp drop in the number of businesses planning to increase investment in plant, machinery and new buildings.

But investment looks to be being directed to areas that will have the most impact on reducing costs. Over three quarters (78%) of respondents have already invested, or are planning to invest, in productivity, efficiency and automation.

The number of businesses in the East Midlands that are optimistic about the outlook of the UK economy has also plummeted by –30pp, compared to August 2022.

James Brown, partner and practice leader at Grant Thornton UK LLP, said: “Businesses in the East Midlands are facing a long list of cost pressures, ranging from input cost price increases and high energy bills to rising interest rates and supply chain bottlenecks. All of this means that many businesses are being faced with cost increases from 5% to as much as 100% in some cases.

“The severity of the current market landscape is causing many firms to restructure their operations and review their headcount. While these pressures are going to be with us for some time, there are steps that businesses should be looking at if they’re not already. This includes reducing their debt level to counter interest rate rises, minimising energy usage, looking for efficiencies wherever possible, and considering alternative, cheaper suppliers.

“Right now, many East Midlands businesses will be looking ahead and reviewing their budgets for the next 6-12 months. These forward plans should account for factors that may spring up in 2023, such as the energy bill relief scheme ending, and rising interest costs. Thankfully, I know that this region is full of proactive, agile and dynamic businesses that will take on the challenges and emerge as more resilient, efficient organisations.”

Rotheras to expand in Derby with JH Powell & Co acquisition

Tess Egginton
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Rotheras to expand in Derby with JH Powell & Co acquisition
Rotheras Solicitors LLP is set to expand its services into Derby with the acquisition of JH Powell & Co. The deal will see JH Powell & Co take on the Rotheras name in a partnership that will see the two historic firms combine to reinforce service offerings, whilst paving the way for growth and expansion into the Derby legal market for Rotheras. The deal consists of 15 staff including 7 legal advisors, 2 of which will join as partners, increasing the headcount to 131 at Rotheras, with the addition of city centre premises located next to Derby Cathedral coming under the umbrella of Rotheras’ 4 branch locations in Nottingham. Both firms share a rich history and legacy in their neighbouring legal markets with Rotheras having been established in 1824 and JH Powell & Co in 1873. Rotheras CEO, Christina Yardley said: “We are delighted to be joining forces with JH Powell & Co and we welcome their highly skilled and experienced team into the Rotheras family. JH Powell & Co operate with similar values to our own, particularly around their ethos for developing lasting client relationships, which is something that underpins the history and longevity of both of our firms. “We found a natural synergy in our desire to increase the quality and depth of service we can offer to our clients. We are extremely excited to bring the Rotheras name to the Derby market and we can’t wait to get our recruitment plans underway and further expand our legal presence in Derby.”

Confidence and output growth fall to lockdown levels as recession looms

Steve Fisher
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Confidence and output growth fall to lockdown levels as recession looms
Confidence and output growth have fallen to the levels experienced during lockdown as recession looms, according to a new report from BDO. October saw BDO’s Output and Optimism Indices fall to their lowest levels since the third national lockdown in February 2021, as record-high inflation continues to dampen the economy and prompt fears of a recession, according to the latest Business Trends report from accountancy and business advisory firm, BDO. The latest figures indicate that inflationary pressures are to blame for the decline across three of BDO’s four indices, as Optimism, Output and Employment all recorded their weakest readings for at least six months. BDO’s Inflation Index reached an all-time high in October forcing businesses to re-evaluate production in line with demand and supply-side headwinds and exercise caution in their outlook and hiring intentions. October saw BDO’s Output and Optimism Indices plummet to 93.10 and 94.63, respectively, their lowest levels since the third national lockdown in February 2021. Both indices now sit in contractionary territory, below the 95-point mark – regarded as the watershed between growth and decline, an indicator of a recession. The dip in productivity was driven by a fall across both the Services and Manufacturing Indices for the second month in a row. Continued disruption to global logistics networks and increased input prices have pushed manufacturing activity into negative territory, whilst the cost-of-living crisis has impacted consumer demand, driving down services output. Confidence amongst businesses followed a similar downward trajectory as the weaker macroeconomic environment drove a seventh consecutive month of decline for BDO’s Optimism Index. BDO’s Inflation Index rose by 1.67 points in October to a record high of 120.67 following an increase in the energy price cap which caused consumer price inflation to climb. At the same time, diminished spending power due to a weaker currency put considerable upwards pressure on input inflation leading to a record high of 121.26, as businesses importing goods paid higher prices. Driven by inflationary fears, the Employment Index mirrored waning confidence among businesses with a fall of 1.14 points to 113.05 last month. However, the index has remained resilient, and the unemployment rate stood at a historic low of 3.5% on the most recent reading in the three months to August. Despite the index remaining firmly in positive territory, hiring intentions are set to decline in the longer-term as businesses continue to tackle mounting inflation and a recession, resulting in further falls in the index over the coming months. Kaley Crossthwaite, Partner at BDO LLP, said: “A contraction in both optimism and output is a concerning bellwether for firms, as inflation is expected to continue climbing in the run-up to Christmas. A weaker currency and drop in consumer spending power will have real and tangible consequences for firms relying on imports or customers in the retail and services sector, alongside the knock-on effects of managing political and economic uncertainty. “We also know that rising energy costs are a top concern for nearly half of mid-sized businesses this winter as we’re only just beginning to see the impacts of the energy price cap rise. Firms will be looking to the Autumn Statement for the support they need as they navigate a tough period ahead.”

East Midlands workers name job security and flexible working as top reasons to stay in their jobs

Tess Egginton
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0
East Midlands workers name job security and flexible working as top reasons to stay in their jobs

A new survey has revealed that job security and flexible working are the top reasons given by employees in the East Midlands for choosing to remain in their current jobs.

Acas commissioned YouGov to ask employees of East Midlands-based businesses what are the three most important things that are keeping them in their current main job. The poll found that:

  • 55% job security;
  • 38% flexible working; and
  • 33% picked competitive pay and feeling valued, respectively.

Acas East Midlands area director Dwinder Virk said: “Our latest survey gives East Midlands employers a crucial insight into what their employees currently value most in their job.

“For workers in the East Midlands, job security and flexible working are the two main things keeping them in their current roles. One-third also chose competitive pay and feeling valued.

“These findings can help employers when they are considering the types of workplace practices and benefits that aim to attract and retain talent.”

Acas’ advice is that building good staff relations and supporting flexible working can help businesses attract and retain staff as well as increase staff productivity. Flexible working can allow employees to balance work effectively with their personal life and responsibilities.

Leicestershire, Derbyshire and Lincolnshire to receive a share of £17.5m funding boost to spur future growth

Steve Fisher
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Leicestershire, Derbyshire and Lincolnshire to receive a share of £17.5m funding boost to spur future growth
Leicestershire, Derbyshire and Lincolnshire are to receive a share of £17.5m funding to support high-growth potential creative businesses in sectors such as film, gaming, fashion and architecture. Businesses will also be able to draw from a fund of up to £7 million being managed by Innovate UK to support them in achieving their growth potential. The creative industries are one of the major UK economic success stories in recent years. They have grown at twice the rate of the wider economy since 2010 – generating approximately £115.9 billion for the economy and providing more than two million jobs. Indeed, Data from the Association for UK Interactive Entertainment (Ukie) estimates the value of the UK consumer games market reached a record £7.16 billion in 2021. Today’s plans will build on this stellar success and make sure the next generation of creative talent succeeds, companies continue to scale-up and those that need support have access to it. Creative Industries Minister Julia Lopez said: “From product design and video games to music and film, the creative industries are a stellar UK success story.

“Today’s plans will help get more creative businesses off the ground so they can spread jobs and wealth and help more people, including those from underrepresented backgrounds, break into these world-class sectors.”

Each of the six regions have been awarded £1.275 million in grant funding from the Department for Digital, Culture, Media and Sport (DCMS) to develop a targeted programme of business support. Companies applying for finance will need to demonstrate their potential to grow rapidly and become sustainable through private investment. The investment fund and investor building activities will be delivered by the UK’s innovation agency, Innovate UK. Also announced are seventeen start-up video games studios which have been given grants of up to £25,000 to realise their ideas for innovative new projects as part of the UK Games Fund. The cash injection is for firms across the country with great ideas but lacking in development funding. The fund, which was established in 2015, has received increased government funding of more than £8 million for 2022 to 2025. It aims to help high-potential companies raise new funding, spur economic growth and create new jobs. Games spanning formats from virtual reality to mobile and themes from space exploration to eco-education, with developers based across the country – from Cardiff to Paisley and Brighton to Yorkshire – will benefit from the scheme’s latest funding round.

Revival of iconic Derby retail street looming

Tess Egginton
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0
Revival of iconic Derby retail street looming
Independent Derby apparel designer, Karl Shaw is returning to Sadler Gate, this time at number 49, with his ‘Derby centric’ clothing venture ‘Mr Shaw’. Karl Shaw, Managing Director at Mr Shaw, said: “We want to bring Sadler Gate back to life. Being a Derby heritage brand, we have the city deep rooted within in our DNA. As well as opening our retail shop at number 49 where we will be selling Mr Shaw apparel, we will be using the space to generate a hub for creatives on the upper floors, a coffee and craft beer bar, a pop-up selling space and promote our ‘Reminisce’ music nights, designed to celebrate Derby’s 90s music culture.” It’s no secret that the Cathedral Quarter has been hit by various economic factors affecting footfall and trade over recent years. But, there remains a resilient hunger by local businesspeople who are committed to returning culture rich retail streets like Sadler Gate back to their former glory. Local property company, Clowes Developments, own several properties in and around Derby City Centre. Whilst most of their units are fully occupied, their team have been looking to find suitable occupiers for their empty retail units on Sadler Gate, The Strand and St James’ Street to help regenerate this historic part of the town, breathing fresh life into the city centre. Sadler Gate and its surrounding streets including Iron Gate, The Strand and The Strand Arcade are collectively known as the ‘Cathedral Quarter’. Historically, this part of town has been the home to high-end, independent, luxury shops with a diverse culture. Since the 1970s there have been some legendary shops which coined the path for high-end commerce within Derby. The likes of Napoleons and Josephine’s which then became His and Hers, Ziggies, Seargent’s Barbers, R E Cords, Roomes Fish Mongers, Potts Shoemakers, Interior Options, The Eye Gallery, Big Blue Coffee House, Limeys, Scenario, Ethos, the Forum, Mark Scott hairdressers… this list goes on. These names all played a huge part in forming the history and reputation of Sadler Gate. The stories created on this street still linger in the conversations of its frequenters and will continue to do so for years to come. Unfortunately, many of those names have since closed their doors but some continue to flourish and evolve with the trails and tribulations of high street retail. Canopy, established in 1992 has been a resident of Sadler Gate for many years. Thirty years on and the family business continues to face its challenges with creative optimism for turning a challenge into an opportunity whilst retaining its core values of great product and excellent customer service. Brigden’s has also stood the test of time and remained true to is roots in the Cathedral Quarter. In recent years, Brigden’s have expanded their offering to include a new shop dedicated to country attire, selling high-end lifestyle brands including Fairfax & Favor, Le Chameau and Holland Cooper. Importantly, there are many other businesses thriving along and around this historic street. Retail is not the only reason Sadler Gate holds such nostalgic fond memories for its patrons. The 90s and 00s were fantastic periods for the Sadler Gate night life scene. Some of those hot spots are still providing evening entertainment years on. Vines, The Old Bell, which has been recently renovated, and The Blue Note are still going strong, keeping the true spirit and kudos of Sadler Gate alive. Karl and his wife, Emma knows the significance and history of this part of Derby City Centre. They are keen to support the revival of Derby’s iconic Sadler Gate by encouraging collaboration between neighbouring occupiers and hosting events to encourage people back to the old streets of Derby. “When I started, Mr Shaw was a great way to keep my creative juices flowing; free from commercial and client constraints. I had often thought about developing a clothing brand as fashion is a great love of mine and I can’t deny the buzz from knowing someone would wear my brand… a living, breathing identity. I’m excited to combine this with my passion for Derby as we open up Mr Shaw House and combine our love for fashion, music, creativity, craft beer and coffee all in one place!” Kevin McFarlane, associate director at Clowes Developments, commented on the deal: “As landlords of several commercial properties within Derby city centre, Clowes recognise their responsibility to help regenerate the town. “We have been working with the Council and invested parties such as Marketing Derby over the past year to provide upgraded premises for start-ups and continue to improve the aesthetics of some of our more tired looking properties. Our aim is to encourage occupiers and promote increased footfall into the area. “We are delighted to welcome Karl Shaw back to one of our properties on Sadler Gate. Our vision and aspirations for Derby are aligned and we wish him all the best in his venture.”

Multi-million landmark scheme reaches completion in Chesterfield

Steve Fisher
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Multi-million landmark scheme reaches completion in Chesterfield
Seven street-level retail units at Elder Way in Chesterfield are now complete and ready for tenants. Elder Way, a former Co-op department store in the North Derbyshire town has been transformed into a landmark mixed-use leisure scheme by regeneration specialists Jomast Developments. The transformation of the street-level units, all with glazed frontages, has now been completed, offering prospective tenants a flexible and blank canvas for their business. The units, which range in size from 1,420 sq.ft to 16,076 sq.ft are targeted at food and drink businesses. Additionally, there is 16,285sq.ftof gym/D2 space in the basement of the building. The site boasts a hotel on the upper floors and now, retail units on the ground floor. Each of the units has been boarded out and painted, creating a blank canvas for new tenants. Situated in the golden triangle of investment with Chesterfield town centre, Elder Way sits within the recently completed £19.9million Northern Gateway regeneration scheme which comprises a new multi-storey car park, the Northern Gateway Enterprise Centre and large-scale public realm improvements. Jomast, one of the UK’s leading property development and investment specialists, acquired the famous 1930s, Mock-Tudor building in 2016. It has since developed it into hotel accommodation and the new retail units which are targeted at food and drink operators. The new units complement the upper two floors of the four-storey building which have been operated as a 92-bed Premier Inn hotel since 2019. Mark Hill, Development Director at Jomast said: “The transformation of the iconic and characterful former department store in Chesterfield has been a labour of love that has created a vibrant new leisure quarter for the town of which we are immensely proud. Interest in the units has been strong and we hope to welcome tenants soon.” Mark added: “The position and location of the site at times has been challenging but our ongoing collaboration with Chesterfield Brough Council has enabled us to create a premium and attractive business address on Chesterfield’s high street.” Northern Gateway Enterprise Centre, which opened in July earlier this year, already boasts more than 50% occupancy with 17 of the 32 offices now tenanted. Chesterfield Borough Council is making further investment in the town centre following £20million of Levelling Up funding which, along with additional funding from Chesterfield Borough Council, will transform key event spaces and public areas. The £26million Revitalising the Heart of Chesterfield scheme that will revitalise and better connect key areas of the historic town centre and revamp the Stephenson Memorial Hall. Work has already started and will be completed in phased until 2025. Elder Way and the golden triangle of investment in the town centre is part of £2billion of regeneration projects currently underway across Chesterfield, which includes the £400million Peak Resort and £340million Chesterfield Waterside developments.  

South Lincolnshire Food Enterprise Zone welcomes first tenant

Steve Fisher
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South Lincolnshire Food Enterprise Zone welcomes first tenant

Moving into new office space was a well-calculated decision for local accountant Tim Burrows, of Station One Accountants.

Tim owns and runs the accountancy firm, whose main client base is agricultural and food businesses, making the South Lincolnshire Food Enterprise Zone the perfect location for his new office. Cllr Colin Davie, executive councillor for economy and place at Lincolnshire County Council, said: “The Hub building is a great new space for established, growing and start-up businesses. I’m delighted that an existing local business has chosen to re-locate here as the first of many new tenants, and wish Tim every success. “All businesses who locate at the Hub will benefit from being at the forefront of new developments and innovation in agri-tech and in turn, will add their own expertise to support the sector.” Tim Burrows, said: “To have my own office with high-tech spec and the support of The Hub staff, but with the opportunity to hire a Meeting Room as and when I needed one, was just what I was looking for, and I am not disappointed. “When the Café is open on the ground floor, it will be even more attractive for client visits in a more informal, but professional environment. “There is plenty of parking on site, with EV charging points too. The building has been well thought out, with a shower room for example, if you cycle to work. “I am looking forward to the opportunity of working alongside other companies to offer advice where I can with my experience of working as an accountant within the food industry to help their business flourish.”  

Cambridge & Counties Bank appoints Patrick Newberry as its new Chairman

Steve Fisher
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Cambridge & Counties Bank appoints Patrick Newberry as its new Chairman

Specialist lender Cambridge & Counties Bank has appointed Patrick Newberry as its new Chairman. He replaces Simon Moore, who retired from the Bank after serving 10 years as a Board member.

Patrick joined Cambridge & Counties Bank as Non-Executive Director in June 2021, taking responsibility as Chair of Audit from September 2021. His executive career spans over 30 years with PwC, where his primary focus was on strategy, performance improvement as well as all things regulatory within the financial services and insurance sectors. During this time, he was the lead in major transformational programmes and worked with large financial institutions to set strategy and transform performance. Over the last nine years, Patrick has spent his time as non-executive director and freelance consultant for a number of financial and non-financial services organisations. He is currently on the Board as Chair of the Audit and Risk Committee at Brunel Pensions Partnership, is a Commissioner of Historic England and Chair of its Audit and Risk Committee. He is also Chair of the Cornwall College Group. Patrick Newberry, Chairman at Cambridge & Counties Bank said: “I’m honoured to be taking on the role of Chairman at a time when Cambridge & Counties Bank is continuing to expand its presence across the UK and building on its strong growth momentum. The bank’s tailored approach and deep relationships with clients and brokers allows it to offer a differentiated service and we have seen continued demand across 2022.” Cambridge & Counties Bank announced in June this year that total lending had topped £1 billion for the first time. Originally focused on the East Midlands region, the Leicester-headquartered bank has seen staff numbers increase to more than 200 over the past decade, with major offices now in Sheffield, Bristol, London, and Glasgow.
 
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