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Vistry Group, the provider of affordable mixed-tenure homes, has sealed a £34 million deal to bring 133 affordable family homes to Rushden in partnership with Platform Housing Group.
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East Midlands manufacturers see mixed start of the year
East Midlands manufacturers are seeing a mixed picture as they start the year but confidence is remaining robust despite the UK economy remaining weak overall.
However, Make UK is forecasting growth for manufacturing of just 0.1% in 2024 and 0.8% in 2025 which is weaker growth than the economy overall.
The findings come in the Q4 Manufacturing Outlook survey published by Make UK and business advisory firm BDO. According to the survey, output in the East Midlands was negative in the first few months of the year. However, looking forward both output and orders are set to pick up substantially in the second quarter of the year with orders in the next three months especially strong.
This positive picture is reflected in strong recruitment by firms and a jump in investment intentions to the highest level of any English region, which may be due to the full expensing policy announced by the Chancellor in the Autumn Statement.
Chris Corkan, Region Director for the Midlands at Make UK, said: “After the economic and political shocks of the last few years there is now strong confidence among manufacturers in the East Midlands, despite the mixed picture. While growth in the economy is not exactly supercharged, the positive announcements in the Autumn Statement and Budget can at least allow them to plan with more certainty for the future.”
Jonathan Lanes, Head of Manufacturing at BDO in the Midlands, added: “Manufacturers in the East Midlands have continued to show their ability to overcome wave after wave of challenges, but they cannot continue to do this indefinitely without some more long-term support from the Government.
“Despite the challenges faced across the region, demand for labour remains strong with investment intentions higher than in any other English region. That said, the next few months will be critical to the sector within the East Midlands.”
Administrators appointed to Robinsons Caravans group companies
Ryan Grant and Chris Pole from Interpath Advisory were appointed joint administrators to Golden Castle Caravans Limited and Robinsons Caravans Limited on 11 March 2024 and 14 March 2024.
Both companies are part of the Robinsons Caravans group which retails caravans and motorhomes from dealerships located across the Midlands and the South West.
Based in Twigworth, Gloucester, Golden Castle Caravans Limited sells new and used caravans and motorhomes, including from some of the UK’s leading manufacturers.
Robinsons Caravans Limited sells new and used caravans and motorhomes from two sites in Chesterfield, Derbyshire, and Worksop, Nottinghamshire.
While certain companies across the Robinsons Caravans group have been historically profitable, others have experienced lower than expected sales volumes in the wake of the cost-of-living crisis and pressure on household disposable incomes. This in turn served to place financial pressure on the wider group, which in recent times had become increasingly unsustainable.
As a result of these mounting pressures, the directors sought to undertake a review of their investment, refinance and sale options. When it became clear that a solvent solution could not be found, they took the decision to seek the appointment of administrators.
Immediately following their appointment, the joint administrators sold the business and assets of Golden Castle Caravans Limited to Gloucestershire Leisure Limited, a connected party by virtue of one of the directors. Seventeen members of staff have transferred to the purchaser as part of the transaction.
Separately, following their appointment to Robinsons Caravans Limited, the joint administrators sold certain of the business and its assets to a Storebon Holdings Limited, part of the Couplands Caravans group. Nine members of staff based at the Robinsons Caravans site in Worksop have transferred to the purchaser as part of the transaction.
The Robinsons Caravans site in Chesterfield, however, is not included in the transaction and as a result, will close with immediate effect. Consequently, 16 members of staff have been made redundant. The joint administrators will be providing support to all those impacted by redundancy, including assisting with claims to the Redundancy Payments Service.
Ryan Grant, managing director at Interpath Advisory and joint administrator, said: “These have been testing times for many businesses across the leisure sector as a result of high cost inflation and fragile consumer confidence. We are pleased to have secured these two transactions which safeguard the future of Golden Castle Caravans and the Robinsons Caravans operations in Worksop.”
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Local housebuilder set to bring 93 new homes to Nottingham
A local housebuilder is set to bring 93 homes to Fairham, in Nottingham.
Work is set to begin for Redrow East Midlands, who will be joining the Fairham scheme with planning now officially granted by Rushcliffe Borough Council.
Dovecote Grange will include a mix of private and affordable homes for those in the community, including a mix of three, four and five bedrooms on offer from the housebuilder’s Heritage Collection.
The properties will also be part of Redrow’s new Eco Electric generation, featuring air source heat pumps and underfloor heating as standard – designed to significantly reduce energy bills.
Dovecote Grange will form part of the wider 606-acre Fairham site, which will see a new neighbourhood created in the region, bringing new homes, employment opportunities, as well as a new sense community to this area of Nottingham. There will be shared foot and cycling paths, £100m invested in new infrastructure and 200 acres of open space as part of the scheme.
Ryan O’Sullivan, Sales Director at Redrow East Midlands, said: “We’re delighted to have been granted planning permission for this exciting new development. Dovecote Grange will provide much-needed new homes in the area and we’re thrilled to become part of the wider Fairham development.
“Here at Redrow East Midlands, we’re passionate about prioritising sustainability, which is why each home we build will be part of our Eco Electric generation, future proofed with air source heat pumps, underfloor heating and improved insulation.
“We anticipate homes will be incredibly popular, with lots of people looking to Fairham as a vibrant new community with positive prospects for the local area. Now that work is set to begin on site, we’d encourage those looking to purchase a home to register their interest as soon as possible.”