Rolls-Royce appoints new CEO
Tufan Erginbilgic has been appointed as Rolls-Royce’s new Chief Executive Officer and an executive director of Rolls-Royce Holdings plc. Taking up his new role on 1 January 2023, Tufan will succeed Warren East.
Tufan, who has a background in engineering, has built his career in international business including over 20 years with BP, with five years as part of its executive team. In his last role before leaving in 2020, he led BP’s downstream business, which included Refining, Petrochemicals, Service Station Network, Lubricants, Midstream operations and the Air BP jet fuel operation.
During Tufan’s tenure, the business was transformed, achieving record profitability and delivering record-setting safety performance. He has held several non-executive directorships in heavy industry and manufacturing companies, including at aerospace technology group GKN. He is currently a partner at Global Infrastructure Partners (GIP), a private equity firm which focuses on large-scale investments in infrastructure businesses and manages $81bn for investors.
Anita Frew, chair, Rolls-Royce, said: “I am delighted to announce the appointment of Tufan Erginbilgic as Chief Executive. He is a proven leader of winning teams within complex multinational organisations, with an ability to drive a high-performance culture and deliver results for investors.
“He has extensive strategic and operational experience and a firm understanding of safety critical industries, including aerospace, as well as the challenges and commercial opportunities presented by the drive for low carbon technologies.
“He has a strong track record for execution, delivery and the creation of significant value. I look forward to him building on the strategic foundations that Rolls-Royce has laid over recent years.”
Tufan Erginbilgic said: “I am honoured to be joining Rolls-Royce at a time of significant commercial opportunity and strategic evolution as its customers embrace the energy transition.
“I am determined to deliver the full potential of the market positions which the company has built over many years, through its engineering excellence and innovative technology, and to build a platform for growth in order to create value for all stakeholders.
“I look forward to working with customers, partners and the Rolls-Royce team across the world on the next successful chapter for this iconic global engineering brand.”
Tufan Erginbilgic is currently a non-executive director of multinational transport vehicle manufacturer Iveco Group NV; energy, healthcare and technology group DCC plc; and energy company Türkiye Petrol Rafinerileri A.Ş (Tupras). Tufan will be reviewing his involvement in these positions.
Games Workshop CEO hails “astonishing year” as revenue and profit rise
The CEO of Games Workshop, the Nottingham-headquartered manufacturer and seller of fantasy miniatures, has announced another record year for the business.
According to an annual report for the 52 week period to 29 May 2022, revenue reached £414.8m, up from £369.5m in the year prior.
Profit before tax meanwhile grew to £156.5m from £150.9m.
Kevin Rountree, CEO of Games Workshop, said: “It’s been another astonishing year. I once again take great comfort that some things don’t change – our staff and customers love Warhammer. I thank you all for helping make this another very successful year.”
Manufacturing output and orders ease, but investment intentions recover
Growth in manufacturing output and orders eased in the quarter to July, slowing to more typical rates of expansion following a period of exceptionally strong growth over the previous year. Average costs and prices continued to rise sharply, although growth eased from recent highs.
Optimism within the sector fell for a third consecutive quarter. However, investment intentions generally improved, and employment within the sector continued to grow at a robust pace, though less quickly than expected last quarter (for the third quarter running). Concerns over shortages of labour and shortages of components and materials remained acute, but off their recent highs.
The survey, based on the responses of 237 manufacturing firms, found:
- Business sentiment fell for a third consecutive quarter, but at a slower pace than in April (-21% from -34% in the quarter to April).
- Output volumes in the quarter to July grew at the slowest pace since the quarter to April 2021 (balance of +6%, compared with +25% in quarter to June and a long-run average of +4%), with a similar rate of growth expected in the three months to October (+6%). Output rose in 10 out of 17 sub-sectors, with headline growth driven by food, drink & tobacco, and aerospace.
- Average costs in the quarter to July increased at a slightly slower pace compared with the previous quarter, but growth remained well above average (+82%, compared with +87% in April and a long-run average of +31%). Cost growth is expected to slow a little further in the quarter to October (+77%).
- Domestic price growth in the quarter to July also eased slightly (+51%, from +60% in April; the long-run average is +13%). Prices are expected to rise at a similar pace to the last quarter (+48%) in the quarter ahead.
- Investment intentions for the year ahead picked up in comparison to April for plant & machinery (+17% from +9%), product & process innovation (+10% from +1%) and training (+10% from -3%). Investment in buildings is expected to fall slightly over the year ahead (-7% from -6%, though this remains above the long-run average of -17%).
- Numbers employed grew at a similar rate to the previous quarter (+18% from +21%), with a similar rate of increase expected in the next three months (+19%).
Portfolio of apartments sold in West Bridgford
FHP, working in conjunction with sister company FHP Living, have completed the sale of a portfolio of 14 apartments at Bridgford Point on Radcliffe Road in West Bridgford.
David Hargreaves who handled the sale on behalf of a Sheffield-based private investment company that had owned the portfolio for 20 years said: “The fourteen 2 bed apartments which sit above a parade of shops in the heart of West Bridgford close to Trent Bridge Cricket Ground, were fully let but at rents below market level.
“The apartments are all larger than the norm and ranged in size from 750 sq ft to 920 sq ft with each apartment also benefitting from an on-site car parking space which again is quite unusual.”
The buyer – a local family property company, benefitted from a 10% discount to open market value to reflect the “bulk sale” and intend to redecorate and upgrade the spacious apartments as and when they become vacant for reletting and sale.
Top prices for 2 bed apartments in West Bridgford have been secured in The Waterside Apartments and at Trent Bridge Quays which have been sold by FHP Living achieving £250,000+, reflecting their location by the River Trent, and so this acquisition provides scope to add value to the properties through a proactive asset management plan.
FHP and FHP Living are due to bring a similar portfolio to the market but this time on the edge of the city centre as well as a £10m student portfolio.
Planning permission granted for new industrial space in Nottingham
Rayner Davies Architects have received planning permission for 20,000 sq ft of industrial and trade counter space on the Glaisdale Industrial Estate in Nottingham.
The site, which has been vacant for over fifteen years, will be developed to create seven units. Sizes range from 2,150 sq ft up to 3,250 sq ft, with further space available in some units on a mezzanine level.
The proposed building has been developed with a rational plan form to allow for an efficient portal frame design. The building is rectangular, with a shallow pitched roof behind parapets to screen and preserve a pure rectangular shape to the gable ends.
The minimalist approach to the building’s form is to be further emphasised in the material and colour choice. Each unit has a glazed pedestrian entrance and a roller shutter door.
Local developers Medina Green are behind the proposals. Box Property are letting the units, some of which have already been taken. Work is expected to start on site later this year.
Barrow Hill Memorial Hall recieves lottery funding for renovation and repurposing project
The Barrow Hill Community Trust has received initial support from The National Lottery Heritage Fund for the Barrow Hill Memorial Hall Centenary Project.
The £90,400 award will support the work, which aims to renovate and repurpose the upper floor rooms and exterior of the Memorial Hall whilst preserving its heritage.
The initial development funding has been awarded by The National Lottery Heritage Fund to help Barrow Hill Community Trust progress their plans to apply for a full National Lottery grant at a later date.
The project aims to restore the imposing frontage and key heritage features of the Memorial Hall and will renovate the first floor of the building, creating a learning, skills and heritage space in the reading room and a restored venue for celebrations and events in the former ballroom.
It will create a sustainable future for the building, filling community needs and providing accessible training opportunities for volunteers and staff. The building will be run with and for local people, and be open to the world. It will become a heritage-led wellbeing and cultural destination with community at its heart.
This first stage of funding will be used to replace the slate roof over the heritage space and appoint a project co-ordinator to plan a programme of activities that bring local heritage to life, giving local people the chance to find out about the past, get involved and have a say in this important development. Building on the last few years of consultation with local people, the Community Trust and design team will be finalising the designs for the building and agreeing how the hall will be re-opened to again provide much needed community services.
Built in 1863 as part of Richard Barrow’s industrial model village, the Memorial Hall has long been a focal point for the area and, over the years, has been used as a Dining Hall, Workmen’s Hall, War Memorial and social centre. Gifted in trust to the community by the Staveley Coal and Iron Company in 1924, the project aims to renovate and modernise the Memorial Hall for the future while continuing to honour its legacy and its past.
Commenting on the award, Simon Redding, chair of Barrow Hill Community Trust, said: “We’re delighted that we’ve received this support and would like to thank Lottery players for helping to make our vision a reality as we approach the centenary of community ownership of the Barrow Hill Memorial Hall.
“This grant will enable us to further our ambition to create a building which is truly inclusive and which embraces the whole community. It’s great to know that we are a step closer to conserving the Memorial Hall and preserving it for future generations.”
Put property and construction businesses centre stage at the East Midlands Bricks Awards 2022
Shining the spotlight on the region’s property and construction businesses, raise the profile of your firm, developments, and reward your people by submitting a nomination for Business Link’s prestigious East Midlands Bricks Awards 2022 before entries close on 19 August!
While winning an award at the Bricks will add considerably to a company’s or individual’s brand and enhance their commercial reach significantly, the business that clinches the ‘overall winner’ award will also take home a year of marketing/publicity worth £20,000.
A highlight in the calendar, winners will be revealed at a glittering awards ceremony on Thursday 15 September, at the Trent Bridge Cricket Ground – an evening that will also provide plenty of opportunities to forge new contacts with property and construction professionals from across the region.
The event will additionally welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker, as well as award-winning mind reader, magician, and professional mentalist Looch, who will bewilder and astonish guests during the evening’s networking.
To submit a business or development for the East Midlands Bricks Awards 2022, please click on a category link below or visit this page.
Find out who last year’s winners were here.
Thanks to our sponsors:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner (this award cannot be entered, the winner will be selected from those nominated)
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region. Dress code is standard business attire.
To be held at:
Part-time music teacher wins landmark case in the Supreme Court on holiday pay calculations for ‘part-year’ workers
Hopkins Solicitors on 20th of July 2022, saw a landmark judgment in favour of their music teacher client, Mrs Lesley Brazel, by the UK Supreme Court. This decision follows her case being heard before an employment tribunal (in 2017), the Employment Appeal Tribunal (in 2018) and most recently the Court of Appeal (in 2019).
The UK’s highest court confirmed the rights of part-year and zero hours contract workers to the full 5.6 weeks’ statutory paid holiday provided for under the Working Time Regulations 1998. They rejected the argument from the school that the entitlement of such workers, should be reduced on a pro-rata basis.
Thanks to the judgement, it will no longer be possible for employers to argue staff who don’t work all year are only entitled to pro-rata holiday based on the hours they work. Today’s decision is also good news for anyone working irregular hours or on zero-hours contracts. From now on, all workers will be due the same legal minimum of 5.6 weeks (28 days for full-time employees), even if there are months during the year when they don’t work.
Example: The Supreme Court judgment ensures leave must be paid at the rate of an ordinary week’s wages (or if pay varies every week, then an average of all the weeks worked in a year). Annual leave calculations are based on weeks, as a person can work a full week or part of one. The law says that someone working a full year is entitled to at least 5.6 weeks of annual leave (28 days for anyone working full-time hours in a week and this can include the eight bank holidays). The judgment means that an employee working all year, but say, for just two days a week is entitled to 11.2 days a year (2 x 5.6 weeks, so 2.24 weeks or 11.2 days).
Lesley Brazel, the part time music teacher, said: “After an eight year legal process I am pleased to have finally secured a basic employment right in accordance with the law and as stated in my employment contract. I would like to thank the Incorporated Society of Musicians, ARAG Insurance, and the legal teams at Hopkins Solicitors and 3PB Barristers, for their outstanding professional, legal and financial assistance throughout.
“I am an alumna of the Harpur Trust and I have worked for them as a visiting music teacher at Bedford Girls’ School and it’s legacy schools for 20 years, pursuing a career which I am passionate about. Emotionally it has not been an easy journey. I am indebted to my family and friends for giving me the self-confidence to see this through and for their continued encouragement and support throughout this time.”
3PB Barristers were instructed in this appeal by Hopkins Solicitors LLP to act on behalf of clarinet and saxophone teacher Mrs Lesley Brazel, who teaches at the independent Bedford Girls’ School run by the Harpur Trust. She was supported over several years of legal action by the Incorporated Society of Musicians (ISM) and ARAG who provide legal expenses insurance to the ISM’s members.
Mathew Gullick QC of 3PB said: “This judgment gives clarity on the method of calculating holiday pay for people in Mrs Brazel’s position working on permanent ‘zero-hours’ contracts and who are not required to work every week of the leave year. The judgment will be of particular interest to term-time workers at schools, colleges and universities, as well as many other types of workers whose working patterns do not fit the traditional ‘full-time’ model.”
Partner Carl Wright at Hopkins Solicitors said: “We are obviously delighted with both the outcome of the appeal and to have been able to clarify the law for the benefit of all of those workers who, like Mrs Brazel, work on term time only contracts. As a consequence of this decision, term time only workers will be entitled to the same minimum annual holiday as those that are contracted to work all year round.”
Plan to transform Mansfield department store unveiled
Mansfield District Council has unveiled its £25.75m plans to transform the town’s former Beales department store building into a new multi-agency civic hub.
The Mansfield Connect scheme was presented to strategic, community and business leaders on Mansfield Place Board.
The project forms a key part of the council’s ambitious, long term town centre regeneration plans and its £20m bid to the Government’s Levelling Up Fund (LUF).
The landmark 1930s building is set be modernised and extended to provide a new headquarters for the council and is expected to house a variety of other public, educational, enterprise and health and wellbeing services, alongside spaces for private sector investment.
Place Board members heard how Mansfield Connect would improve the co-ordination and delivery of public services, generate extra footfall in the town centre and act as a catalyst for wider development, stimulating both the day and night time economy in the town centre.
Executive Mayor Andy Abrahams said after the meeting: “If our bid to the Levelling Up Fund is successful, this scheme will offer a once-in-a-generation opportunity to develop new solutions to the challenges facing the town and district.
“Repurposing this landmark building will act as a kind of renaissance by bringing to life a new integrated space, which will then stimulate the local economy and encourage private sector investment.
“This really would be levelling up in action and it would also be a boost to the delivery of public services by consolidating them into one town centre space.”
To date, the Department for Work and Pensions, Nottinghamshire County Council, Vision West Nottinghamshire College, Nottingham Trent University, NHS health partners, and volunteering co-ordinator the CVS have all expressed interest in being involved in the new hub.
The council’s MP-backed submission to the LUF will be made before the second round deadline of 2 August 2022.
The Fund is targeted towards places with the most significant needs in terms of economic recovery, regeneration and growth and improved transport and connectivity. Mansfield has been ranked at level one out of three by the Government, putting it amongst those areas with the greatest need.
Mansfield Connect forms part of the council’s wider ambitions for the town, being drawn up in the emerging Town Centre Masterplan and aligns with broader Mansfield District Council strategies promoting Growth, Aspiration, Wellbeing and Place.
£9m sustainable SportPark expansion on Loughborough University Science and Enterprise Park reaches major milestone
A topping out ceremony has taken place to celebrate the latest milestone in the creation of a 2,000 sq m four-storey fourth pavilion to expand SportPark, the multi award-winning development on the Loughborough University campus.
The £9m project on Loughborough University Science and Enterprise Park (LUSEP) is being built to Passivhaus Classic Accreditation to significantly reduce CO2 emissions and is scheduled for completion at the end of the year.
The first Passivhaus development on the University campus, SportPark Pavilion 4 presents sports organisations with the unique opportunity to secure environmentally future-proof accommodation, tailored to their needs. It will enable occupants to reduce their carbon footprint thanks to highly efficient heat pumps, opening triple-glazed windows, solar shading to avoid summer overheating as well as a well-insulated building fabric to minimise heat loss.
Passivhaus consultants Beyond Carbon Associates hail the development as “an exciting, future-facing building, treading lightly on our planet’s resources using Passivhaus energy conservation, solar PV and a climate resilient design to manage future heat waves.”
SportPark already houses the UK’s highest concentration of sports governing bodies and national sports organisations. The latest organisation to join is UK Anti-Doping (UKAD), having relocated its central office from London in May 2021, as part of its new 2021-2025 Strategic Plan. UKAD is the anchor tenant of SportPark Pavilion 4, occupying the entire third storey.
Professor Mike Caine, Loughborough University associate pro vice-chancellor sport, said: “SportPark is a tremendous asset to the University and wider region – housing complementary organisations, working in partnership with the University, and harnessing the power of sport to benefit communities, locally, nationally, and around the world.
“SportPark Pavilion 4 will provide the capacity to welcome yet more mission-driven organisations to the University, and to reinforce the East Midlands region’s potential as a global sports innovation hub, with Loughborough at its heart.
“The SportPark expansion coincides with a growing number of innovation and technology-led sports businesses launching at, or relocating to, LUSEP, attracted to the collaborative environment and access to the University’s world-leading expertise in sports science, engineering, health and well-being, high-performance athlete base, and sports infrastructure.”
SportPark Pavilion 4 is delivered by the Leicester and Leicestershire Enterprise Partnership (LLEP) as part of the Getting Building Fund (GBF). Funds were designated for investment in local, shovel-ready infrastructure projects to stimulate jobs and support economic recovery across the country. The LLEP was allocated £20m, supporting the SportPark 4 project with £6m.
A separate £1.8m GBF allocation helped fund improvements at Junction 23 and the A512, which links the M1 with Loughborough. It makes LUSEP one of the most accessible science parks in the UK.
Andy Reed OBE, interim chair of the LLEP Board of Directors, said: “Loughborough University’s global reputation for sport brings tremendous opportunities for us all and, through this fourth pavilion, provides new jobs and opportunity for further growth across a range of services.
“This latest project directly supports 165 jobs, with more than 150 in the wider economy. Importantly, it also helps create further demand to bring sports-related organisations and businesses to the region.
“On a separate note, it’s really pleasing for me personally to see the continued development of SportPark. I was fortunate to be involved in creating the vision of a sports cluster at the University for the first phases of the development back in the mid-2000s. It’s wonderful to see it continue going from strength to strength.”
Henry Brothers Midlands are leading the project to build SportPark Pavilion 4. Managing Director, Ian Taylor, said: “SportPark Pavilion 4 is an exciting Passivhaus development which is supporting Loughborough University’s plans to decarbonise its estate to meet the Government’s zero carbon target by 2050.
“It also builds on Henry Brothers’ growing portfolio of environmentally sound schemes and we are very pleased to have reached this milestone in this important development for the University.” 