Monday, June 9, 2025

Sale to see former Chesterfield care home reopen

Tess Egginton
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Sale to see former Chesterfield care home reopen
Specialist business property adviser, Christie & Co, has sold the former care home, The Heights, in Chesterfield. The former care home comprises a 33-bedroom purpose-built property that was constructed in the 1990s, along with communal and back-of-house accommodation. It is located in a residential area in Tupton, a village in North East Derbyshire, approximately 4.5 miles south of Chesterfield. The home was previously registered for 36 residents and closed in November 2022. Following a sales process with Sam Fazackerley at Christie & Co, it has been purchased by Good Day Care Homes Limited which owns two other homes in South Yorkshire. Alexmon Baby, business development director at Good Day Care Homes Limited, said: “We opened our first home, Jubilee Care Home, a 59-bed care home in Rotherham, in November 2019, and expanded further with the acquisition of Alexander Court, a 56-bed care home in Sheffield, in September 2023. “With The Heights, we plan to refurbish the building and to reopen the home as a dedicated EMI residential/nursing facility, with in the next 6 months. Looking ahead, we are committed to expanding Good Day Care Homes into a large-scale care provider, delivering high-quality services across a broader portfolio.” Sam Fazackerley, business agent – care at Christie & Co, said: “As expected, there was a lot of interest in The Heights, attracting considerable interest from both regional and national care operators and local developers for alternative use. “I am so pleased to have completed on the sale with Good Day Care Homes Limited, and look forward to the home being reopened as an EMI nursing facility, especially considering there is an ongoing need for this type of requirement across the country.” The Heights Care Home was sold for an undisclosed price.

£15m retrofit investment targets hundreds of homes in North East Derbyshire

April Lara
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£15m retrofit investment targets hundreds of homes in North East Derbyshire

Two major retrofit programmes worth over £15 million have been awarded to Sustainable Building Services (SBS) to upgrade the energy efficiency of more than 700 homes in North East Derbyshire.

The projects, spanning both social housing and privately owned properties, will be delivered over the next three years. Funding comes from the UK Government’s Warm Homes: Social Housing Fund Wave 3 (WH:SHF) and the new Warm Homes: Local Grant (WH:LG).

Rykneld Homes is leading a £10.4 million initiative under the WH:SHF banner, aiming to upgrade around 400 properties. Meanwhile, North East Derbyshire District Council is managing a separate £5.1 million programme, funded through WH:LG, which targets over 300 fuel-poor households using a place-based strategy.

All homes involved are set to be upgraded to at least an EPC C rating. Retrofit measures will include cavity and external wall insulation, loft insulation, new double-glazed windows and doors, solar PV systems, and air source heat pumps. The focus is on reducing energy consumption, lowering carbon emissions, and cutting household energy bills.

SBS will deliver both schemes and is building on previous experience in the area, including a £21 million programme completed with Rykneld Homes under the Social Housing Decarbonisation Fund Wave 2, which retrofitted over 640 homes.

The appointment was made through a direct award under the EEM Property Improvements and Decarbonisation Works Framework. Both retrofit projects are part of broader national and regional efforts to address fuel poverty, support decarbonisation goals, and stimulate the local green economy through job creation and infrastructure upgrades.

Timms Solicitors makes associate promotion

Tess Egginton
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Timms Solicitors makes associate promotion
A family lawyer at Timms Solicitors has been promoted to associate – a role which will include greater responsibility in business management, financial oversight and the training and development of key staff. Melissa Knight takes up the post with immediate effect at Timms, which has offices in Derby, Burton-on-Trent, Ashby, and Swadlincote. Her promotion is an unprecedented direct appointment and comes without her even needing to complete the firm’s standard in-house programme. Melissa specialises in care proceedings, representing children removed from their parents, as well as parents and grandparents navigating complex legal challenges. For the past three years, Melissa has received the Children Law Accreditation, a recognised quality benchmark which enables solicitors to represent children. Timms managing partner, Fiona Moffat, explained: “Melissa’s promotion to associate is testament to the extraordinary value she brings to the firm. “Beyond her financial contributions, she plays a vital role in mentoring and supporting others within the firm. “This promotion is testament to her commitment, skill and ability to secure high-value cases due to her exceptional reputation in the sector. “Melissa embodies the qualities of an outstanding legal professional, mentor and leader. She never seeks recognition for her efforts and works tirelessly to drive the firm’s success.” Melissa said: “I am delighted to have been made an associate solicitor at Timms who have continually supported my development since I started working at the firm five years ago. “Timms has an exceptional reputation in both family law and providing legal services across the Midlands for over 130 years now. “I am very proud to be part of a strong team of staff and have had the benefit of inspiring role models within the firm to assist me with my progression. “As part of my role, I look forward to supporting my colleagues with their development within their careers and assisting with maintaining the firm’s success.”

Views sought on plans for new, multi-use community building on site of Derby’s former Assembly Rooms

Tess Egginton
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0
Views sought on plans for new, multi-use community building on site of Derby’s former Assembly Rooms
The partners behind the re-development of the area around Derby city centre’s Market Place are kicking off a consultation on a new, multi-use community building on the site of the former Assembly Rooms. VINCI UK Developments and Ion Developments are inviting local communities to give their views on the project, which the partners have described as a “landmark community building,” provisionally named ‘Derby MADE’. Derby MADE is intended to provide a place for all communities to come together. With a combined 60,000 sq ft of public spaces to gather, learn, share ideas, play and work, it is envisaged that it will become the city’s “living room” and become a natural place for the people of Derby to meet and visit. The vision for the building, which would operate throughout the day and evening, includes spaces for families, meeting rooms, co-working spaces, library area, exhibition spaces, a roof-top bar, office and retail units. Derby MADE would form the first phase of the Market Place redevelopment, utilising the entire site of the Assembly Rooms. Graham Lambert, managing director, VINCI UK Developments, said: “Derby MADE is at the heart of our shared initiative, designed to shape the vision for the city centre around a newly bustling Market Place, and this is the first opportunity we have had to share some of those plans. “We are only too aware of our responsibility in transforming the site of the former Assembly Rooms, with something that is equally iconic, but also of equal or greater relevance to Derby’s citizens. We have assembled what we think is an amazing project and we would love to hear feedback to help us shape the vision as it moves forward.” Steve Parry, managing director at Ion Developments, added: “We are delighted to be involved with this project which is designed to celebrate civic pride and the city’s identity. The building is intended to give the people of Derby a reason for visiting the heart of the City Centre and to help build the visitor economy building up the Vaillant Live and Derby Market Hall. “We have taken inspiration from similarly transformational and successful projects at Storyhouse in Chester, and in Culture House in Sunderland. We are hoping to draw over three quarters of a million visitors a year to the Market Place, we expect that will be a new lease of life for the square and hopefully for the businesses that are understandably relying on its careful rejuvenation.” Councillor Nadine Peatfield, leader of Derby City Council and cabinet member for city centre, regeneration, strategy and policy said: “Redeveloping the Market Place, combined with the opening of Vaillant Live and revitalised Market Hall, will reinforce our efforts to transform Derby City Centre into a vibrant and welcoming place, with culture at its heart. “This is a huge step forwards for this site and I’m really excited to hear what the public think of the plans. It’s vital that we create a space that matters to the people of Derby and attracts visitors from further afield. By creating a multi-use, flexible building, we believe we can strike that balance and give Derby residents somewhere they can call home, but at the same time creating a central visitor destination through a variety of attractions and activity. “Derby has been eagerly anticipating the next steps for this site, and we’re confident that our preferred strategic development partners, VINCI UK Developments and Ion Developments have taken the time to get this right for the people of Derby and future-proof the site for generations to come.” Derby residents, businesses owners, and stakeholders are invited to participate in the consultation as it launches with drop-in exhibitions at the City Lab space in the Derbion Shopping Centre. The drop-ins will run on 7 May (2pm – 5.30pm) and 8 May (3pm – 6.30pm). As well as the consultation events, members of the public will be able to find out more about Derby MADE on a consultation website.

35-acre Strategic Rail Freight Interchange completes at Northampton logistics park

Tess Egginton
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0
35-acre Strategic Rail Freight Interchange completes at Northampton logistics park

SEGRO has completed a 35-acre Strategic Rail Freight Interchange at its multimodal development SEGRO Logistics Park Northampton, enabling freight trains to access the site ahead of the launch of regular services later in the year. Maritime Transport agreed terms to operate the terminal in June 2022.

The completion follows a 54-hour rail possession over the Easter period, during which SEGRO and its contractor Winvic, along with Network Rail delivered all critical elements of the scheme, including the commissioning of the main line and intermodal signalling. The rail terminal connects to the West Coast Mainline via the Northampton Loop Line and is expected to play a pivotal role in shifting freight movement from road to rail, reducing emissions and congestion. Kate Bedson, senior director, national markets at SEGRO, said: “We’re excited to see real momentum at SEGRO Logistics Park Northampton, with the completion of the rail freight terminal infrastructure and strong progress on Yusen Logistics’ new facility – the first warehouse on the park to be constructed. “Each freight train can remove up to 76 HGVs from the road with a consequential reduction in carbon emissions, making this a crucial step towards more sustainable logistics. With rail freight contributing £1.7 billion to the economy, this milestone is not only a shot in the arm for growth, also it supports a greener, more efficient supply chain.”

The rail terminal is part of SEGRO’s wider £200 million investment in local infrastructure around Northampton, delivered in partnership with National Highways, Network Rail and local authorities.

The development has consent for 5 million sq ft of logistics and warehousing space and can accommodate units starting from 100,000 sq ft.

The development is expected to create around 7,500 new jobs.

East Midlands business confidence falls in April

Tess Egginton
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0
East Midlands business confidence falls in April
Business confidence in the East Midlands fell seven points during April to 36%, according to the latest Business Barometer from Lloyds. Companies in the East Midlands reported lower confidence in their own business prospects month-on-month, down 12 points at 38%. When taken alongside their optimism in the economy, which held steady month-on-month at 35%, this gives a headline confidence reading of 36% (vs. 43% in March). Looking ahead to the next six months, East Midlands’ businesses identified their top target areas for growth as evolving their offering, for example by introducing new products or services (44%), investing in their team, for instance through training (39%) and introducing new technology (35%). The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. National picture Overall, UK business confidence fell ten points in April to 39%. Firms’ optimism in their own trading prospects dropped seven points to 50%, while their confidence in the wider economy fell 13 points to 28%. The North East was the most confident UK nation or region in April (59%), followed by the West Midlands (53%) and the North West (52%). Sector insights Confidence fell across the four broad sectors. Manufacturing confidence remained broadly unchanged from last month, falling by one point to 38%, while the construction sector saw the largest decrease in business confidence this month, declining 22 points to 26%. Retail confidence also fell by 13 points down to 45% and the service industry fell seven points to 40%, both now at three-month lows. Dave Atkinson, regional director for the East Midlands at Lloyds, said: “While business confidence in the East Midlands has dipped this month, it’s encouraging to see firms remain focused on the future, with many targeting innovation, skills development, and technology to drive growth. “At Lloyds, we’ll continue to support firms in the region as they pursue these ambitions, helping them invest in their people and capabilities so they can fully capitalise on new opportunities ahead.”

Corporate insolvencies rise as East Midlands economy shaped and buffeted by national and global politics

Tess Egginton
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0
Corporate insolvencies rise as East Midlands economy shaped and buffeted by national and global politics
Political issues at both national and global level have impacted heavily on local businesses as the prospect of higher employment costs and the threat of trade tariffs across England and Wales pushed up corporate insolvencies by almost a tenth in March. This is according to the Midlands branch of the UK’s insolvency and restructuring trade body R3 and comes on the back of latest figures from the Insolvency Service which show that corporate insolvencies increased by 9.1% last month [March] to a total of 1,992 compared to March 2024’s figure of 1,826. R3 Midlands chair Stephen Rome, a partner at local law firm Penningtons Manches Cooper, said: “Longstanding challenging trading conditions and the increased willingness of public and private sector creditors to turn to winding-up orders to pursue monies owed have impacted heavily on business distress, both locally and nationally. “However, it is the announcement of the US tariffs and the rises in National Minimum Wage and Employers National Insurance which have caused directors most concern over the last few weeks. “While it is too early to understand the extent the tariffs will impact on businesses, we know they will influence purchase and sale prices as well as margins and profits and, potentially, a firm’s ability to service debt and source rescue funding. “At the same time, March was the last month before the NI and Minimum Wage increases came in, and this has affected business confidence locally, as well as recruitment and investment. If firms have not made the most of the time between its announcement and introduction, we could see an increase in corporate insolvency numbers in the region over the next quarter. “R3’s message to anyone worried about their finances is to seek professional advice as soon as concerns arise. It can be an incredibly hard conversation to have, but timely discussions with a qualified advisor may provide more options than waiting until a problem becomes more severe. “Most R3 members will give prospective clients a free consultation so they can learn more about the issues they face and outline the potential options to resolve them.”

New £81.5m fund targets growth for SMEs in Midlands and North

April Lara
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0
New £81.5m fund targets growth for SMEs in Midlands and North

Frontier Development Capital (FDC) has launched a £81.5 million fund to support established small and medium-sized enterprises (SMEs) in the Midlands and North of England with tailored debt financing.

The Evolution Fund will offer flexible loan packages ranging from £1 million to £8 million to SMEs across all sectors. The fund is structured to support business growth, sustainability improvements, and various corporate transactions such as management buyouts, acquisitions, shareholder changes, and debt refinancing.

Backed equally by the West Midlands Pension Fund and the British Business Bank, with £40 million each, the fund is positioned to address a longstanding gap in the market for sub-£10 million business loans. Its eight-year structure features ‘bullet repayment’ terms, enabling companies to defer most capital repayment to the end of the loan period, thus easing short-term cash flow pressures.

FDC, headquartered in Birmingham with offices throughout the UK, has previously invested more than £200 million since its 2016 inception. The Evolution Fund marks its second collaboration with the British Business Bank and its third with the West Midlands Pension Fund.

CMS Cameron McKenna Nabarro Olswang LLP provided legal support for the fundraising and structuring.

The initiative is expected to strengthen regional investment flows and offer a scalable template for further institutional backing in underserved SME markets.

Bakkavor exits China in £50m sale to streamline operations

April Lara
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0
Bakkavor exits China in £50m sale to streamline operations

Bakkavor has sold its Chinese division for £50 million as it refocuses on core markets and works to strengthen its balance sheet. The buyer, Lihe Xing (Qingdao) Food Technology Co., part of China’s Lihoo Food Industry group, will take over Bakkavor China’s seven manufacturing sites and around 2,300 staff.

The unit generated £105 million in revenue in the 2024 financial year. Bakkavor expects to make a £15 million profit from the sale, which is subject to regulatory clearance and is expected to be completed in the second half of 2025. Proceeds from the deal will be used to reduce group debt and support its target of reaching a 6% profit margin.

The move comes as Bakkavor weighs a possible tie-up with rival Greencore, whose £1.2 billion bid could be extended, potentially leading to the creation of a combined group with £4 billion in annual revenue.

This strategic exit signals Bakkavor’s intent to simplify its structure and improve margins as consolidation in the prepared food sector accelerates.

Central Technology acquires yoko:10 to expand Microsoft consultancy offerings

April Lara
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Central Technology acquires yoko:10 to expand Microsoft consultancy offerings

Central Technology, based in Chesterfield, has strengthened its portfolio with the acquisition of yoko:10, a UK-based consultancy specialising in Microsoft solutions. This move marks a key milestone in the company’s growth and enhances its position as a provider of consultative technological and business services.

For the past eight years, yoko:10 has established a strong presence in Microsoft consultancy, offering expertise across several technologies including SharePoint, Microsoft Teams, Purview Data Governance & Security, Copilot, Intranets, Viva Engage, and Power Platform. The company’s focus has been on helping businesses optimise their digital workplace through planning, deployment, governance, and adoption of Microsoft cloud technologies.

With the acquisition, yoko:10 will operate from Central Technology’s offices and take on the role of the group’s dedicated Microsoft Consultancy provider. This integration follows legal guidance from BRM, based in Chesterfield, ensuring a smooth transition and operational continuity.

The acquisition also aligns with Central Technology’s vision for continued growth and innovation within the sector, as it further strengthens its ability to meet the evolving demands of businesses in a rapidly changing digital landscape.

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