£10.8bn funding deficit uncovered in East Midlands

Tess Egginton
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£10.8bn funding deficit uncovered in East Midlands
The East Midlands continues to receive the lowest levels of public investment in the UK, according to a new analysis of government data released by East Midlands Councils. Despite a growing population and a strong track record on economic growth, the region lags significantly behind on spending in key areas such as transport, infrastructure, and economic development. Figures drawn from the Treasury’s Public Expenditure Statistical Analyses (PESA) show that, between 2019 and 2024, the East Midlands received £10.8bn less than it would have if funded at the UK average. Transport funding in the region is particularly low. In 2023–24, transport spending in the East Midlands was just 54% of the UK average, the lowest level of any UK region or nation. On rail investment, the disparity is starker still: the East Midlands received just £175 per head, compared to £477 in the West Midlands and £1,047 in London. Cllr Sean Matthews, chair of East Midlands Councils, said: “These figures lay bare the extent to which the East Midlands has been taken for granted by Governments of all colours over the last 20 years. “The disparities in transport and rail spending are truly shocking. Ministers and Government funded transport bodies must do much more to close the investment gap in the East Midlands if we are going to generate the economic growth the country needs.” While the region has kept pace with national growth rates in terms of GDP, the analysis highlights that this has largely been driven by population growth rather than productivity gains. Labour productivity in the East Midlands remains at just 84.8% of the UK average, with the gap widening over the last 20 years. The report also compares the East Midlands to neighbouring regions. The West Midlands received £6.7bn more in total public investment over the same five-year period. On economic development alone, the East Midlands received 30% less per head than the West Midlands in 2023–24.

Nottingham set for 200 new homes through Platform4 redevelopment

April Lara
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Nottingham set for 200 new homes through Platform4 redevelopment

Nottingham is set to see a significant boost in housing with the development of 200 new homes on surplus railway land. As part of the government’s Platform4 initiative, this project will transform a brownfield site into a thriving residential area.

Platform4, a newly established property development company, is tasked with unlocking railway land across England and Wales for housing projects. In Nottingham, the development is expected to contribute to the creation of sustainable communities while addressing the region’s housing needs.

The redevelopment of this site is part of the government’s broader plan to build 40,000 homes across surplus railway land over the next decade. This project aligns with the government’s brownfield-first approach, ensuring that underused land is repurposed for much-needed housing.

By consolidating property development efforts under one entity, Platform4 aims to streamline processes and deliver developments more efficiently. The profits generated will be reinvested into the UK’s rail infrastructure, supporting long-term growth for both the housing and transport sectors.

Derby City Council reports underspend as it moves towards financial stability

April Lara
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Derby City Council reports underspend as it moves towards financial stability

Derby City Council has reported a forecast underspend of £1.318 million for the first quarter of the 2025/2026 financial year. This marks significant progress in the Council’s ongoing efforts to achieve long-term financial stability.

The underspend comes after the implementation of effective financial management and careful budget setting, despite the challenges facing local governments nationwide. The Council has also made notable investments in essential services, with approximately £40 million allocated for this financial year, while working to restore general reserves to £15.8 million. This will bring reserves to the highest level in several years, representing 4.54% of the revenue budget.

In addition, the Council is on track to meet its £9.861 million savings target for the 2025/26 year. The commitment to rebuilding reserves forms part of Derby’s broader strategy to create a more resilient financial position, ensuring the city is well-prepared for any future economic shocks.

Although positive, the report acknowledges ongoing pressures, particularly in adult social care and services for children with special educational needs. However, these costs are being offset by savings in other areas. The Council remains focused on maintaining responsible financial leadership to ensure continued service delivery and stability.

Looking ahead, Derby City Council is preparing for potential changes linked to Local Government Reorganisation across Derbyshire. The financial position will be further reviewed at the Cabinet meeting on 6 August.

Charnwood Forest to bid for prestigious international designation

Tess Egginton
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Charnwood Forest to bid for prestigious international designation
Leicestershire’s Charnwood Forest is taking to the world stage with an application for a prestigious international designation supporting education work and growing the local economy. The area, home to some of the oldest animal fossils in the world, will be applying for UNESCO Global Geopark status later this year. If successful, it would become the county’s first site with a UNESCO status. Charnwood Forest Geopark has been developed over the past four years as part of a National Lottery Heritage Fund supported scheme, hosted by the National Forest. Working with 17 partner organisations, the Geopark team has delivered projects including conservation work, schools outreach, arts programmes, volunteering, and interpretation infrastructure. The Geopark includes sites such as Bradgate Park and Beacon Hill, but also the lesser-known Morley Quarry and Markfield’s Hill Hole. There are currently 229 UNESCO Global Geoparks in 50 countries, each hosting internationally significant geological features that communities use to support education work and growing the local economy in a sustainable way. Charnwood Forest’s bid focuses on the 560 million year old fossils found in the Geopark, which tell the story of the rise of the first animals on the planet. Cllr Cartwright, chair of the Geopark’s board said: “This is an exciting time for Charnwood Forest and all of Leicestershire. The partner organisations behind Charnwood Forest Geopark have long been working hard to conserve our heritage, share our unique story, and grow the local economy. “UNESCO Global Geopark status will give Charnwood Forest the international recognition it deserves, helping us to further protect and celebrate our unique geological story. Such enormous effort has gone into this by so many people and I would like to thank you all, including the committee, volunteers, and delivery team. Together we are stronger, keep up the great work.” The Geopark team will be submitting the application to UNESCO later this year, and in 2026 two international evaluators will visit to judge if the region meets the standards of a Global Geopark. This could see Charnwood Forest awarded the status when the UNESCO Executive Board meets in the spring of 2027.

“The Bricks Awards showcase the people and firms that are to thank for shaping how our urban spaces and architecture will be seen for future generations”

Tess Egginton
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“The Bricks Awards showcase the people and firms that are to thank for shaping how our urban spaces and architecture will be seen for future generations”
As Business Link’s East Midlands Bricks Awards 2025 draws ever-nearer, East Midlands Chamber has highlighted the opportunity it provides to “showcase the people and firms that are to thank for shaping how our urban spaces and architecture will be seen for future generations.” With nominations closing on Friday 15th August, it’s time to make your free entries for the 10th annual celebration of the property and construction industry. Take this chance to spotlight exceptional new commercial and residential developments, those demonstrating a leading position in sustainability and design excellence; gain recognition as outstanding developers, architects, contractors, and agents, as well as for significant deals; and ensure efforts in corporate social responsibility are rewarded, from eco initiatives to charity work, to social value schemes. East Midlands Chamber Chief Executive Scott Knowles said: “Property and construction are significant drivers of growth and despite having had to overcome tough challenges like higher National Insurance contributions or the skills shortage making recruitment hard, the East Midlands can be proud of the impressive scale of modernisation to our towns and cities. “Whether Nottingham’s Island Quarter, Derby’s Castleward Urban Village, Leicester’s Waterside or Ashton Green projects, you don’t have to look far to see progress. The Bricks Awards showcase the people and firms that are to thank for shaping how our urban spaces and architecture will be seen for future generations and it’s right we recognise that work.” A key event in the business calendar, the East Midlands Bricks Awards 2025 will take place on Thursday 2nd October, at the Trent Bridge Cricket Ground. Revealing the winners in a glittering awards ceremony, the evening also offers time to establish new connections with property and construction professionals from across the region and hear from keynote speaker Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands. To nominate your (or another) business/development for the East Midlands Bricks Awards, please click on a category link below or visit this page. Entry is free – with finalists also winning free tickets to the awards ceremony. Categories include:

Nominations will close on Friday 15th August.

Tickets can now be booked for the East Midlands Bricks Awards 2025, click here to secure yours.

Connect with local decision makers over nibbles and complimentary drinks while applauding the exceptional companies and projects in our region.

New for this year, all entrants will also have the opportunity to be featured on our dedicated nominee showcase on the East Midlands Business Link website, providing space for marketing your achievements.

The East Midlands Bricks Awards 2025

What: The East Midlands Bricks Awards 2025 When: Thursday 2nd October (4.30pm – 7.30pm) Where: Derek Randall Suite, Trent Bridge Cricket Ground, Nottingham Keynote speaker: Councillor Nadine Peatfield – Leader of Derby City Council, Cabinet Member for City Centre, Regeneration, Strategy and Policy, and Deputy Mayor of the East Midlands Tickets: Available here Dress code: Standard business attire Thanks to our sponsors:                                                                      

To be held at:

Wholesale company ‘LUCs’ to Swadlincote for expansion

Tess Egginton
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Wholesale company ‘LUCs’ to Swadlincote for expansion
Rushton Hickman has completed the letting of 4,131 sq ft on Midland Road Industrial Estate to LUC Group Ltd. The newly let Unit 11, close to Swadlincote town centre, comprises primarily an open plan ground floor workshop with additional first-floor offices and storage. LUC Group Ltd are a wholesale company, sourcing produce from all over the UK. They plan to utilise the facility to support their expanding operations. Richard Fairey, director at Rushton Hickman, said: “We knew the unit would generate plenty of interest being situated on such a popular estate and this proved to be the case. LUC Group came along quickly, and we were able to agree terms with the minimum of fuss. We are sure the unit will be perfect for their expanding business.”

Business school reaches major milestone as keys to new building handed over

Tess Egginton
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Business school reaches major milestone as keys to new building handed over
The keys to The Cavendish Building, the new home of Derby International Business School, have been officially handed over ahead of its opening this September. Located in the heart of the city centre, the seven-storey building features cutting-edge facilities including a Google-style creativity lab, a finance lab for budding investment bankers complete with Bloomberg and London Stock Exchange Group terminals, a logistics lab, a creativity lab and an XR suite to create an immersive learning experience. Now the construction has been completed by Kier Construction, the final touches will be undertaken by the University, ready for students starting in September 2025. Professor Kathryn Mitchell CBE DL, vice-chancellor and chief executive of the University of Derby, said: “We are delighted to be one step closer to opening the doors of our Cavendish Building. “This is an incredibly exciting time for the University as this new landmark building will serve as a dynamic hub where industry, students, and academics come together to drive innovation and shape a better future for society. “Designed for applied learning and pioneering research, the new space will foster collaboration and empower industry and academic partnerships for impact across the globe.” Small businesses and start-ups are set to be co-located within the building, complementing the University of Derby’s links with global organisations such as Rolls-Royce, Toyota and the NHS. Dr Nicola Lynch, head of Derby International Business School, said: “Our priority from the outset was for The Cavendish Building to be a central hub where students, academics and industry co-locate, co-create, share knowledge, gain skills and collaborate to help solve some of the world’s biggest challenges. “We look forward to further strengthening our business partnerships and to continue developing a blueprint for how universities can work effectively and meaningfully with industry.” Tony Shenton, regional director of Kier Construction Eastern & Midlands, said: “Handing over this world-class business school building is a major milestone, and we are delighted to celebrate it with the University of Derby. “The new Cavendish Building is cutting-edge, bespoke in its design and is a testament to Kier’s skills and experience in delivering modern and sustainable learning environments. This flagship building will serve as a hub of collaboration and learning, benefitting the staff, students and local community for decades to come.”

Gusto restaurant chain undergoes rescue deal, but 190 jobs affected

April Lara
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Gusto restaurant chain undergoes rescue deal, but 190 jobs affected

Gusto, the UK-based Italian restaurant chain, is set to be acquired by Cherry Equity Partners in a pre-pack administration deal that will preserve 300 of its 500 jobs. This transaction follows the company’s announcement of its intention to appoint an administrator.

The deal, orchestrated by insolvency firm Interpath Advisory, comes after Gusto faced significant financial challenges amid ongoing pressures in the hospitality sector. As part of the deal, six locations will be closed, leading to the loss of approximately 190 positions, predominantly from smaller suburban sites that have struggled financially in recent times.

Cherry Equity’s acquisition marks the firm’s third restaurant purchase in six months and highlights its commitment to the UK hospitality industry. The new owners aim to stabilise the brand and set a foundation for future growth despite the current economic challenges facing the sector. Gusto’s leadership expressed regret over the closures and thanked its employees and customers for their support.

Derbion set to open major sports facilities at former Eagle Market site

April Lara
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Derbion set to open major sports facilities at former Eagle Market site

Derbion is set to transform the former Eagle Market site with the launch of two large-scale sports facilities this autumn. Social Sports Society will open one of the UK’s largest indoor padel tennis centres, while Flo Skatepark will create a premier skateboarding hub for the East Midlands.

The 54,000-square-foot padel facility will be the third venue outside London for Social Sports Society, following successful launches in Birmingham and Manchester. The facility will offer affordable sessions for schools and local groups, aiming to increase participation in the rapidly growing sport. Padel tennis, played in doubles on a smaller, enclosed court, is gaining popularity across the UK.

Alongside, Flo Skatepark will occupy a 20,828-square-foot space, providing a world-class skateboarding venue with lessons, events, and community programmes. The skatepark is expected to be a key location for brand collaborations and local exhibitions.

Both facilities will complement the development of Derbion’s Eastern Gateway, which is set to enhance the city’s leisure offerings. The project, supported by £3 million from the Government’s Future High Streets Fund, is part of a broader effort to revitalise the area with family-friendly amenities, a new play area, and food stalls. The new facilities are expected to drive foot traffic to Derbion and further establish the site as a prime leisure destination for the region.

Games Workshop marks record year

Tess Egginton
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Games Workshop marks record year

Games Workshop has marked a record year in its results for the 52 week period to 1 June 2025, as its CEO hails “exciting times.”

Revenue at the Nottingham-based manufacturer of miniature wargames has risen to £617.5m from £525.7m, while the business has posted a pre-tax profit of £262.8m, up from £203m.

Kevin Rountree, CEO of Games Workshop, said: “After a record year, we remain focused on delivering our operational plans and working tirelessly to overcome any significant obstacles that get in the way.

“We will continue to give ourselves the freedom to make some mistakes, constantly working on improvements in product quality and manufacturing innovation.

“Despite our recent successes we will never take our hobbyists’ support for granted. I wish to thank all of them together with our staff, trade accounts and broader stakeholders for their ongoing support. Exciting times.”

Games Workshop noted that new tariffs could impact profit before tax by £12m in 2025/26.

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