Heart of Chesterfield included in Midlands Engine Investment Portfolio

The Midlands Engine partnership has launched the Midlands Investment Portfolio – a ‘digital front door’ opening up investment opportunities across the region, with the heart of Chesterfield included in the range of investment opportunities available across the region. Taken together, it is estimated these opportunities could support or create a staggering 220,000 jobs and deliver more than £33bn in Gross Development Value. Within the digital portfolio, the ‘Heart of Chesterfield’ entry states: “Through a range of significant regeneration and redevelopment underway across the town, Chesterfield is building on its industrial roots and market town heritage to become a contemporary destination with a prosperous future. “Developments underway have already delivered new business units, office accommodation, innovation centres, modern housing, retail centres and new schools – and the town offers attractive investment opportunities in a range of schemes. “Over the coming years, the town centre will be transformed through developments including Chesterfield Waterside, Northern Gateway, Elder Way, public realm improvements and the delivery of the Chesterfield Station Masterplan. “There are a range of opportunities available for investment including capital investment, residential, end-user occupiers and leisure and hotel operators. “Chesterfield is a sub regional service centre for North Derbyshire, it has a great Town Centre that is steeped in history with a historic market but that is balanced by new investments and opportunities including the Levelling Up Fund.” The Midlands Investment Portfolio showcases exceptional investment opportunities across Midlands core sector strengths. The Portfolio has been developed in collaboration with Midlands Engine partners, including the region’s local authorities, local enterprise partnerships, and leading promotion and investment agencies – to present the most complete picture currently available of Midlands priority investment propositions. Working with Midlands champions in geographies across the world, the Portfolio now becomes a vital asset for their continued advocacy and support for the economic growth and future prosperity of the region. The Portfolio forms the keystone of Midlands Engine’s involvement at the UK Real Estate Infrastructure Investment Forum (UKREiiF). Throughout the Forum, the Midlands Engine partnership will showcase the region’s strengths in support of the urgent need to level up and drive economic growth and prosperity. Sir John Peace, Chairman of the Midlands Engine, said: “The Midlands offering to the world has always been prodigious – from our heritage as the birthplace of the Industrial Revolution, to the cutting-edge technologies that are being developed right now in sectors as diverse as health and life sciences, digital and clean energy. The Midlands Investment Portfolio showcases the exceptional breadth of our region’s investment potential in one place – a comprehensive resource to pinpoint the primary investment opportunities our wonderful region has to offer. As Midlands Engine partners continue our work, together, to accelerate growth and prosperity in our region, the Portfolio will be a vital tool in our collaborative efforts to drive inward investment.” Minister for Investment, Lord Grimstone said: “The Midlands Investment Portfolio provides a world-leading resource to maximise investment into the region which will support jobs, boost the local economy and level up the UK. This government is committed to supporting the Midlands Engine through trade and investment, thanks to my department’s support and ambition in signing Free-Trade Agreements that will benefit every region of the UK.” Minister for Levelling Up, Neil O’Brien MP said: “The Midlands is home to a hotbed of talent across a range of important sectors. With this investment portfolio, the Midlands Engine have done a great job of showcasing the very best investment opportunities across the region. “The Government is working to ensure the Midlands Engine continues to fire on all cylinders as we deliver our mission of levelling up every corner of the country.”

Plans for Derby Business School get green light

Plans put forward by the University of Derby to build a Business School in the city centre have been approved. Earlier this year the University submitted a planning application to build Derby Business School on land adjacent to the University’s One Friar Gate Square building, and last night (Thursday 26 May) Derby City Council’s planning committee unanimously gave it the go ahead. Construction for the new development, which is proposed to be net zero carbon in construction and operation, is due to start in November 2022, with the building earmarked to open in September 2024. Professor Kathryn Mitchell CBE DL, Vice-Chancellor and Chief Executive of the University of Derby, said:“We are delighted that the planning application for our city centre-based Derby Business School has been approved. “This is a key milestone for the project, and we are extremely pleased to have reached this stage. The building will be crucial in the city’s regeneration plans and will offer students a high-quality, innovative learning and teaching environment. Working closely with our partners, we are looking forward to the next phase of this ambitious and significant development.” The new building is projected to be the study base for more than 6,000 students by 2030 and is the first element of the University’s City Masterplan, which is the vision for how the University intends to develop its city centre presence and improve connectivity between its sites. The new Business School building will feature innovative teaching and learning spaces including a virtual reality suite, stock market trading room and creative labs. Alongside this, the building will be a technology-enabled smart campus and be used as a living lab for research projects from across the University and industry. Manjit Paget, Programme Manager for Derby Business School, added: “We expect this development to be a welcoming and interactive space – a building where students will learn, but also where businesses can come in for advice, work with our student community, researchers and business support units. The idea is that it will host specialist spaces for collaboration and idea generation, and will enable us to further enhance our research with partners across the D2N2 corridor.”

Oxenwood secures £65 Million development loan from Blackstone

Oxenwood Real Estate, the UK and European real estate investment management firm, has secured a £63 million debt facility from Blackstone Real Estate Debt Strategies to fund two UK logistics developments. The three-year development loan has been secured on behalf of Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood. The largest of the two developments is the 426,000 sq ft Power Park in Nottingham, which Oxenwood has agreed to forward fund for £53.8 million. Power Park is located on part of the former Imperial Tobacco plant and involves the development of six logistics units ranging from 30,000 sq ft to 145,000 sq ft. The development, which is being delivered by HBD, is expected to complete in early 2023. The second development is a last-mile logistics facility on a 2.2-acre site on the A13 in Barking, east London. Oxenwood has entered into a development management agreement with Graftongate to obtain planning consent and construct a 60,000 sq ft unit, which is expected to be completed in the second quarter of 2023. Tom Boardman, chief financial officer of Oxenwood, said: “This development finance will enable our fund to deliver high-quality logistics space in the supply-constrained London and Midlands markets. “We are delighted to be working with Blackstone and we hope this will be the first of many opportunities as we continue to build out our development pipeline”. Oxenwood was advised by Knight Frank Capital Advisory, Jones Day and AKD.

Leading agent celebrates filling empty shops in Derby retail scene

It has been a promising couple of months for the Derby retail scene.  Despite the current challenges surrounding inflation, interest rates and tax rises, there is certainly a sense of restored confidence within retailers in comparison to the previous couple of “pandemic years”.   We are witnessing a good level of enquiries from a range of different occupiers which are pleasingly turning into lettings, some of which I am excited to now be able to reveal… Looking firstly at Derby’s high street, following ALB Group’s acquisition of the block on Albion Street just a couple of months ago, FHP announce that they have already completed on three new lettings.  The former card shop unit has been let to “Hatchet Harrys Axe Throwing”, the old Goldsmiths unit has gone to an independent speciality coffee shop “Barista Lab” and the former EE store has been let to “Pace”, a lifestyle fitness boutique that will offer a wide range of gifts, wellbeing products, exercise classes and personal training. FHP has also have exchanged contracts on the former Dorothy Perkins/Burtons unit on Victoria Street with “Boo” – a fast food burger restaurant chain who have a number of locations across the Midlands. Within the Cathedral Quarter, Derby Brewing Company are taking the former Las Iguanas premises on Friar Gate and are opening their new concept in “The Clubhouse” which will be a unique addition to Derby’s hospitality scene.  The company has also agreed an offer on the old Burger King unit on East Street to an exciting leisure occupier. This is in addition to several new brands into the Derbion Shopping Centre in recent months, with Tommy Hilfiger, Mango, Flannels and Lids having taken place and the likes of Frasers and Jack Wills set to open their doors very soon. No doubt there will be concerns in 2022 for retailers, however FHP are highly optimistic about the rest of the year and excited as to what it will bring to Derby.

Further expansion of the FHP agency team

FHP Property Consultants are delighted to announce further expansion of their Retail & Leisure agency team, with the appointment of Ellis Cullen.  Ellis brings with her 3 years of property experience in the East Midlands having previously worked for NG Chartered Surveyors. Ellis joins us at an exciting time for the business where we are seeing growth in all sectors and will add to our aims of trying to provide the best possible service to clients new and old alike.  FHP were ranked the 4th most active retail agent nationally in 2021 by EG Radius, transacting on 430,000 sq ft of accommodation. Director Alan Pearson commented: “I am delighted that we have found the need to be on the recruitment trail again.  We are continuing to experience good levels of enquires for retail and leisure properties throughout the Midlands and the ongoing transactional volumes has resulted in the need to expand our team to service our valued client, both new and existing There is no doubt the High Street is evolving, and we continually strive to be at the forefront of this.  In Ellis we have a terrific colleague who can help our business grow as well as developing and growing her own career, as we continue to invest into the next generation of talent in the region.” Ellis commented: “I am thrilled to join FHP’s busy retail and leisure team.  FHP is the ideal firm for young surveyors looking to thrive and establish their own property network.  I have been empowered by my colleagues to think creatively and go out and make a mark in the sector.  These values are particularly important to me and my ambition to progress in my career as a surveyor. I am thoroughly looking forward to working with our current clients and finding new opportunities in the market.”

New city centre ambitions for Derby

Derby City Council are taking the first steps in launching a new ambition document and city conversation to address the issues that are facing UK cities.
As part of the city’s recovery from the COVID-19 pandemic, and to meet the challenges of the 21st century, Derby City Council has created a new ambition document which outlines ideas for a bold, transformational vision for Derby city centre, now is the time to have your say!
Derby’s city centre conversation begins on Wednesday 8 June on the Let’s Talk Derby website and will be a chance for residents and businesses to review emerging ideas and share your feedback.
The conversation is a way for citizens to engage with the new ambition document, that was approved at a Special Cabinet meeting in May.
The vision will focus on longer-term ideas and interventions that will transform the city centre and secure its future as a vibrant place that people can feel proud of and want to visit. It will recognise the challenges facing all city centres, not just Derby, and provide an over-arching ‘direction-of-travel’ that will inform future plans and actions.
The document is broken down into 12 themes that focus on the main issues facing our city centre and the key areas we want to improve or reimagine.
• Climate change • Culture • Public realm • Green and blue infrastructure • City living • Accessibility and connectivity • Heritage • Design quality • Learning • Business and creativity • Shopping and leisure • Delivery and coordination
Cllr Chris Poulter, Leader of Derby City Council said: “We’re excited to start this open conversation with our residents, businesses and stakeholders. This is a fantastic opportunity to talk about what we want Derby to be in the future. From these discussions we’ll be creating a brand new vision for the future of our city centre. I urge everyone to take the time and share ideas for the Derby of the future.
Whilst we need to take urgent action now to deal with the immediate challenges and the impact of the COVID-19 pandemic, we also need a longer-term plan that addresses the structural issues that face the city centre, of which can’t be solved overnight.
We’ll be working closely with our Team Derby partners and to get a greater understanding of what our residents and businesses would like and need to see in their city centre. These conversations will be the first step towards creating a new vision which will restore its position as the heart and soul of Derby.”
This is the first time a city-wide future regeneration conversation has taken place of this size since the creation of the City Centre Masterplan in 2016. The previous plan brought about exciting developments within the city, including the Becketwell development and Our City, Our River flood defence scheme.
These conversations around the ambition will inform the next stage in the process for developing a new City Centre vision to be published in 2023.
The conversation begins on Wednesday 8 June and will run for 12 weeks over the summer on the Let’s Talk Derby website for residents, business and stakeholders to share ideas and feedback

Nottingham Castle claims leading RICS award

The RICS Awards showcase the most inspirational initiatives and developments in land, real estate, construction and infrastructure. They recognise outstanding achievement, teamwork and companies. Nottingham Castle was submitted for the award by architects, master planners and heritage consultants Purcell, who highlighted their remarkable work to transform the Castle. Purcell led both the conservation management plan and subsequent design that has preserved, restored and enhanced the site, safeguarding its future. The project included the refurbishment of the 17th century Ducal Palace, medieval Gatehouse, and sprawling cave networks. A new Visitor Centre, located within the foreground of the remodelled landscape, provides new guest facilities. The site was recognised for successfully creating a vibrant and accessible space which contributes to the Castle’s important cultural role in the city. Zoë Skelding, Partner at Purcell, said: “The works conducted at Nottingham Castle celebrate the site’s diverse heritage in a compelling and engaging way that reflects its national and global significance, and we are delighted that the RICS have acknowledged its remarkable transformation. “Our team worked closely with Nottingham City Council and its partners to restore and reimagine the site to conserve its historic fabric and enhance the visitor experience, safeguarding it for future generations. Sensitive conservation, contemporary new-build and sustainable technologies have been blended seamlessly to restore the Castle as a flagship for the City and a catalyst for its regeneration.” In granting the Award to Nottingham Castle, the RICS Judges commented that: “This project is a well-considered and executed revitalisation of a much-loved community asset, which has been saved for the benefit of many and will bring visitors to the city.” The work at Nottingham Castle will now go on to compete at the national Grand Final in London on 21 October this year. David Johns, interim CEO at Nottingham Castle Trust, said: “Congratulations to Purcell, Nottingham Castle Transformation Team and everyone involved in the restoration of Nottingham Castle which reflects the grand scale of what has been achieved. It’s our privilege to occupy a place with spaces so wonderfully designed and detailed for our visitors to experience.” Councillor Pavlos Kotsonis, Portfolio Holder for Leisure, Culture and Planning at Nottingham City Council said: “We’re delighted that the work to transform Nottingham Castle has received this recognition which is a testament to the ambition, skill and teamwork of all involved over the past few years. “Due to this transformation work we now have a Castle we can be truly proud of, showcasing Nottingham’s 1,000 years of history and providing a local as well as international heritage attraction”. The work recognised by RICS was partly funded by the National Lottery Heritage Fund, the D2N2 Local Enterprise Partnership, Nottingham City Council and Nottingham Castle Trust, the project brings to life the Castle’s architecture, heritage and significance, and the role it has played in the United Kingdom.

Civic celebration event for Forest after securing historic promotion

Nottingham has the opportunity to celebrate Forest’s famous promotion to the Premier League at a special event today (Monday) in Old Market Square. Players and club officials will be showing off the Championship play-off winners trophy on the Council House balcony as part of a lunchtime celebration. Comedian and lifelong Forest supporter Matt Forde and BBC Radio Nottingham commentator Colin Fray will host the event, which will include interviews with the players before the trophy is raised aloft to the crowd below. Forest played out a thrilling game this afternoon against Huddersfield Town in front of a capacity crowd at Wembley – it was the club’s first trip to the new stadium since it opened in 2007 and their first major final for 30 years. Tomorrow’s event will start at 1pm in Old Market Square and supporters are asked to arrive no earlier than 11.30am to ensure time for preparations. The celebration falls on the first day of the school half-term holiday and is designed to be a family event. There is strictly no alcohol, flares or pyrotechnics – anyone caught with the latter may be subject to a club ban. It is expected to be very popular and there will be road closures and diversions put in place, plus some temporary changes to bus services. Trams will not move through Old Market Square for a short time and services will terminate at Royal Centre and Nottingham station. Councillor David Mellen, Leader of Nottingham City Council, said: “We are absolutely thrilled that Forest secured promotion – it means a huge amount to the city after more than two decades outside the top flight. “On behalf of the Council, I’d like to congratulate Steve Cooper, his players and staff, the club’s board and owners, plus the wonderful supporters who travelled down to north-west London today in their thousands to represent our proud city. We must recognise Huddersfield, too, who played so well on the day. “This is a huge moment for Nottingham. We said last week that, beyond the sheer pride and joy that promotion brings, having a team in the Premier League offers the local economy an estimated £120m boost. “We expect it could lead to an extra 100,000 people coming to the city as visiting football fans, as well as an increase in national reputation helping to attract students applying to our two universities and people looking for holiday breaks, along with extra spend by Premier League club staff and players. “But above all that, this is simply a wonderful moment for Nottingham and we hope many Forest supporters, their families and city residents are able to join the players outside the Council House tomorrow. For those who unfortunately can’t attend, the event will be live-streamed.”

£5.9 million investment to refurbish Lincoln Central Market

City of Lincoln Council can confirm works to refurbish Lincoln Central Market have now begun.

Initial works began in April to the grade II listed Central Market following investment from Historic England through the High Street Heritage Action Zone (HSHAZ) scheme, which has enabled a programme of historic building restorations designed to revitalise the area and uncover the city’s rich history. Some £5.9 million investment has also been earmarked for the project thanks to a successful bid for funding through the Be Lincoln Town Deal, which has seen £19 million awarded to the city by government to drive economic regeneration and deliver long-term economic and productivity growth. The market was first built in 1937 to the design of architect Robert Atkinson and incorporates the relocated façade of the original 1737 butter market which was located at St Peters at Arches in Lincoln. The proposed scheme is for the major regeneration of the Central Market building, which will include:
  • The opening up of the blind arches on the north and east elevations
  • A new mezzanine floor and relocation of the existing butcher and fishmonger stalls into the main market hall under the mezzanine incorporating its own glazed entrance
  • Replacement roofing and glazed lantern
  • Demolition of the butcher’s corridor to the south of the building and the construction of a new two storey extension to accommodate a new restaurant with a roof terrace
  • New heating and lighting in the building
  • Freestanding stalls in the interior space of a contemporary, minimal design for local businesses to promote local produce and an area within the centre of the Market Hall to accommodate seating for the associated food outlets within the stalls.
  • Unisex toilets including disabled and baby changing facilities
It is also proposed to repave and enhance external areas in City Square and Sincil Street to encourage the evening economy, with space for outdoor dining by the waterway and events. The vision is to stem the decline in footfall, occupancy and turnover by reinventing the market to create a hybrid offer which combines local produce, food and non-food retailing, with expanded food and beverage and communal dining. The addition of the mezzanine level will allow for additional seating and flexible uses. The creation of the standalone restaurant unit within the new two storey extension, will create a further ‘destination’ dining space as well as supporting the evening economy. Cllr Neil Murray, Portfolio Holder for Inclusive Economic Growth at City of Lincoln Council said: “The vision for Central Market for some time has been to design a building of destination, an attractive and modern retailing and leisure space, offering a mix of stalls and delivering a place where people want to visit and dwell rather than simply pass by en-route to the High Street or the Transport links in the city. “Thanks to funding from government’s Towns Fund and High Street Heritage Action Zone (HSHAZ), we now have the opportunity for major investment into the market to create a sustainable future for this important historical asset, which will in turn support the diversification and recovery of the High Street.” David Walsh, Principal Advisor at Historic England added: “The start of the refurbishment of Central Market is a major milestone in heritage led regeneration in the Cornhill Quarter and Lincoln city centre. “The works will allow this wonderful building to have a new lease of life, support local businesses and provide a destination for visitors. “I am delighted to see the Lincoln High Street Heritage Action Zone now having a real effect on the ground, in this and other projects, and helping Lincoln move forward after a difficult few years.” Minister for Levelling Up Neil O’Brien said: “I am thrilled to learn that the £5.9 million refurbishment of Lincoln Central Market has started and that residents will soon be able to feel and experience the benefits of Towns Fund investment. The improvements to this historic market will increase visitor footfall, support local businesses and restore pride for the people of Lincoln. “The project is a key plank of the ambitious proposals set out in Lincoln’s £19 million Town Deal. We are levelling up communities like Lincoln up and down the country and delivering on our mission to spread prosperity to every part of the country, as set out in The Levelling Up and Regeneration Bill earlier this month.” Liam Scully, Chair of the Be Lincoln Town Deal Board added: “By restoring and repurposing the market building, this will create a modern and diversified market offer, combining retail, food, leisure and technology. “In doing so, the Be Lincoln Town Deal Board are proud to support the creation of this anchor destination with the Cornhill Quarter, which is emerging as a prime leisure and retail area in the city.” The designs for the market building have been carefully developed in conjunction with advice from Banks Long & Co commercial and letting agents, Lincolnshire County Highways, the LA Planning Conservation Officer, Historic England as well as feedback received from local businesses, traders and the residents of Lincoln following a public survey in February 2021. The works being carried out by local based construction company Lindum are expected to be complete by the end of 2023.  

Lincoln Community lottery raises over £150k for local good causes

Launched by City of Lincoln Council in August 2018, Lincoln Community Lottery has now raised more than £150,000 for good causes located in and around the city.

Every supporter of the lottery has contributed to raising these funds, with 60 pence in every £1 ticket purchased going directly to local good causes. Of this 60 pence, 50 pence directly goes to the supporters chosen good cause and 10 pence supports the Lincoln Lottery Community Fund. The remaining 40 pence in every £1 ticket contributes towards administration costs, prizes and VAT. To date, 81 local good causes are benefitting from the lottery. In 2021, £10,500 from the Lincoln Lottery Community Fund was awarded to five local good causes to deliver a range of activities aimed at supporting residents of the city. Those causes successful in securing a share of this funding in 2021 included Active Arena CIC, Development Plus, Busydays Day Care, Rhubarb Theatre and Building Resilience in Communities. Cllr Sue Burke, Portfolio Holder for Reducing Inequality at City of Lincoln Council, said: “It is incredible to hear over £150,000 has been raised by the supporters of Lincoln Community Lottery so far. “These additional funds have helped our local good causes to deliver a range of vital services to support the residents of Lincoln. “This additional support has been particularly needed over the past two years due to the pandemic, and I would encourage more good causes to consider using the lottery as a tool to raise additional funds in the future.” City of Lincoln Council is encouraging local good causes to join and benefit from Lincoln Community Lottery. There is no cost to a good cause to join the lottery, however, good causes will be required to meet set criteria to ensure the aims of the lottery continue to be met.