2023 Business Predictions: Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire

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2023 Business Predictions: Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Bobby Singh Braich, Managing Director of Belvoir, Northamptonshire. The current cost of living crisis is unsettling for all, with our landlords and tenants sharing concerns about keeping up with rent. The recent release of the 2022 State Of The Lettings Industry report showed that almost half of tenants (46.48%) are concerned that the current economic climate could impact their ability to pay rent as the crisis continues. Across the country, 2023 will see millions of homes facing financial difficulty and I anticipate this will mean the housing market will slow as buyers – and builders – become hesitant at making large financial investment. Add to that the recent dramatic hike in mortgage rates and the end of the Help To Buy scheme and it is likely that we will see the previous property boom begin to slow down in the coming months. The rise in interest rates has seen mortgage rates soar, which will have a knock-on effect on buyer confidence. Landlords will also be impacted by higher mortgage repayments on their properties. But rather than house prices drop, I believe they are more likely to plateau momentarily, as demand is still there. It is a sellers’ market, as supply remains low. First time buyers are still likely to struggle to get onto the property ladder with prices of even the smallest properties hitting a record high in 2022. Those who are able are likely to be hesitant with the rising rates and uncertainty. The Stamp Duty change announced in Kwarsi’s autumn mini budget is one of the only measures to have stayed in place to help buyers. The previous Stamp Duty holiday helped to keep the market buoyant so this could have a positive effect on the market and offer some relief to wary house buyers.

2023 Business Predictions: Sue Knight, partner, Grant Thornton UK LLP in the Midlands

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2023 Business Predictions: Sue Knight, partner, Grant Thornton UK LLP in the Midlands
It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.  It has become something of a tradition, given that we’ve been doing this now for over 30 years. Here we speak to Sue Knight, partner at Grant Thornton UK LLP in the Midlands. 2022 has been dominated by political uncertainty and volatility, combined with geo-political instability in Europe which caused soar-away inflation. This continues to pose profound difficulty for households and businesses alike as the cost of borrowing has increased and the Bank of England looks to put the brakes on inflation. With inflation at a 41-year high and casting a shadow over the economy, the last few months and the most recent Autumn Statement were always going to be focused on trying to fix the state of the nation’s finances with a package of tax hikes and spending cuts. That said, all the tax changes in the most recent Autumn Statement were heavily trailed and the emphasis on energy security, infrastructure, and research and development as drivers of growth will be welcomed across the Midlands. Also in the Statement, many of us were pleased to see the commitment to invest in HS2 rail staying high on the agenda. The acknowledgement that regional devolution is a key lever of growth was good to hear too. We look forward to learning more about the new ‘trailblazing” devolution deals between the Government and key cities. Levelling-up our economy remains very much a work in progress, with many people in our region struggling amid the current cost of living crisis. 2022 was also a busy year for our Corporate Finance team, with very strong investor demand from UK private equity and more recently international corporates for technology, healthcare and tech-enabled business services companies and businesses with strong ESG credentials.

IT firm’s Chesterfield HQ refurb wins approval

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IT firm’s Chesterfield HQ refurb wins approval
Matthew Montague Architects has secured planning permission for the full refurbishment of Old Birdholme House on Derby Road, Chesterfield – the HQ of technology business, CCS Media.

CCS Media has 13 offices across the UK and has been based in Chesterfield for 40 years.

Chesterfield Borough Council has granted planning permission for internal structural alterations and major refurbishment of the Grade II Listed commercial building.

The refurbishment of the 330 square meter building was specifically developed to enable CCS Media to create facilities that will carry the business forward for the foreseeable future and cement their position as a major employer in the Chesterfield area by providing facilities that enable the business to retain and strengthen the workforce; creating and sustaining employment.

The refurbishment will see an increase in open plan working spaces, improved accessibility and diversity, provision of a new, large, flexible training space and more intelligent energy efficiency. Plus, retaining, exposing and displaying more of the historic features of the building.

Works will begin on site later in the year.

Applications open for £1.3m Create Growth East Midlands

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Applications open for £1.3m Create Growth East Midlands

Creative businesses in the East Midlands can now apply for a free programme of support to accelerate business growth, create jobs, and prepare for investment. 

East Midlands Creative Consortium (EMC²) has today begun accepting applications from high-potential creative businesses after being awarded more than £1.3million of Government funding.

Led by the Leicester and Leicestershire Enterprise Partnership (LLEP), the consortium provided one of six successful regional bids for the Government’s Create Growth Programme.

Andy Reed OBE, LLEP co-chair, said: “The creative sector has created almost 4,000 jobs since 2010 in Leicester and Leicestershire alone. The vast majority of those jobs are in microbusinesses and Create Growth will help these high-potential employers to scale up.”

EMC² has commenced its regional project across Leicester and Leicestershire, Derby and Derbyshire, Rutland, and Greater Lincolnshire.

It is backed by a coalition of partners including regional universities, Innovate UK, local businesses, and non-profit organisations.  

The EMC² website is now live and accepting applications from local creative organisations. The programme starts in the Spring and runs to 2025.

It aims to support 100 creative businesses in four cohort groups across the three years. Around 50 creative organisations have already made early-stage expressions of interest.

EMC² is available to growing creative businesses operating in:

  • advertising and marketing

  • architecture

  • crafts design and designer fashion

  • film, tv, video and radio

  • photography

  • IT, gaming, software and computer services

  • publishing

  • museums, galleries and libraries

Since funding was confirmed by the Department for Digital, Culture, Media and Sport, the LLEP has been working with partners to develop a delivery plan that meets the specific needs of local creative businesses. It will offer bespoke business support and investor outreach activities.

Applicants will also gain the opportunity to go on and apply for finance support from a £7m Government fund delivered by InnovateUK.

Creative industries are worth more than £100 billion to the UK economy and account for 2.3 million jobs.

De Montfort University Leicester helped the LLEP to prepare the Create Growth bid.

Helen Donnellan, PVC Regional Business and Innovation, said: “The Create Growth fund has the potential to transform the creative sector by supporting ambitious businesses to scale up their business in the region.

“We already have one of the largest creative clusters outside of London but as Andy says, many of these are microbusinesses and this fund will help them to grow, creating more jobs and creating a thriving creative centre here. 

“We’d encourage creative businesses to apply for this funding and not miss this opportunity.”

Leicester City Mayor, Sir Peter Soulsby, said: “This investment will help create new jobs and opportunities for growth, not just in Leicester but across the East Midlands, and we look forward to working with our partners to continue to develop this important sector.”

East Midlands businesses offered fully-funded support for technology growth

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East Midlands businesses offered fully-funded support for technology growth
Businesses across Derbyshire, Leicestershire and Nottinghamshire are being urged to take advantage of the support available from the Digital Upscaler project before funding comes to an end. The project, which is part-funded by the European Regional Development Fund and delivered by East Midlands Chamber, supports businesses looking to invest in new technologies to propel growth or to overcome barriers due to a lack of understanding of new technologies. It offers businesses the knowledge, investment and capacity to scale-up by embracing new technologies, and includes: · Intensive one-to-one adviser support from a team of digital experts · Funded consultancy to support new technology integration · An extensive programme of in-person, two-day digital workshops · Peer networks and the East Midlands Manufacturing Network – a Chamber initiative launched last year as a peer-led network, regularly bringing together makers across the region. Nearly 500 businesses have so far enrolled on and engaged with the programme, which runs until the end of June 2023. Paul Humphreys, head of scale-up services at East Midlands Chamber, said: “Time and again, we’re told the Chamber’s ‘deep dive’ workshops offer hugely practical advice that can be implemented immediately when staff are back at their desks. “Beyond our extensive programme of workshops – which are fully-subsidised for staff in businesses across Derbyshire, Leicestershire and Nottinghamshire – we’re offering one-to-one support from our digital advisers to businesses considered to be high growth. Those showing the best growth potential will be invited to apply for a consultancy award. “By getting to know a business, we can help its senior management team improve their knowledge when choosing a solution, developer or system provider, and make informed and considered decisions about technology investments. Our ultimate aim is to ensure their digital solutions meet the desired performance and functionality needed for future growth.”

Rutland and Melton awarded £23m through Levelling Up Fund

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Rutland and Melton awarded £23m through Levelling Up Fund
£23m of funding has been awarded to Rutland County Council and Melton Borough Council to help boost the local economy and improve connectivity following a successful joint bid for the Government’s Levelling Up Fund. Oakham and Melton Mowbray are historic market towns with huge potential for economic growth. This funding will focus on realising the economic potential of both areas by supporting five key projects focusing on economic innovation, cultural destinations, health science and mobility. At the heart of Rutland’s vision is to maximise the potential of the health sector and improve the area’s mobility through the development of a new digital innovation facility and Mobi-Hub at the Rutland Memorial Hospital site. The Council will also use the funding to support the economic regeneration of the area by the introduction of a mobile, digital visitor experience that makes the most of Rutland’s unique cultural assets. The Rutland Memorial Hospital site proposals accommodate a £3.5m, 1000m2 facility, providing lab and light assembly space for the development of medi-tech level clinical trials, a Continuous Professional Development centre for clinicians working in the area and a training base for students involved in relevant disciplines at the local universities, including medical schools and schools of nursing. This investment will build on the well-established understanding at Health Education England (now a core part of NHS England and Improvement), that the antidote to the skills shortages, at the heart of rural health inequalities, lies in the development and training of people in rural settings themselves. The facility will also be a community health related hub, including a café and housing health trainers and potentially care workers developing their business on a self-employed basis. Further funding will be used at the Rutland Memorial Hospital site as the County Council plan to implement a £6.5m, 500m2 travel anchor Mobi-Hub. The Mobi-Hub will be supported by a Demand Responsive Transport system based on the Bus Service Investment Plan approach developed by Rutland Council and extended to cover the Melton Borough area linking the overall package of Levelling Up investments. It will focus on two routes, which have been developed through evidence led analysis, with further refinement to be completed. This service aims to enable people to access work, learning and services more fully across the two market towns. Rutland will also use the funding to include a £2m investment in the creation of a mobile, digital visitor experience to view two of the area’s unique heritage treasures – the largest Ichthyosaur fossil in Europe and the remains of a stunning 4th Century Roman Villa with an exceptional mosaic. Neither of these assets can currently be displayed easily to the public directly, however this funding will enable the council to create the virtual models, storage and touring facilities to enable the finds to be showcased. Lucy Stephenson, leader of Rutland County Council, said: “We are delighted that our joint bid was successful and that we’ve been awarded this funding to invest in Rutland and Melton. This money will help us to support key priorities around reducing health inequality, increasing highly skilled job opportunities, improving transport and connectivity in our area and enhancing access to the county’s unique cultural attractions.” Melton Borough Council will use the funding to develop over 2500sqm of flexible food and drink production units, creating a food and drink innovation showcase in the heart of Melton Mowbray. The Stockyard will also include a support service to help small or upcoming local producers develop and grow in the Rural Capital of Food. In addition, the funding will be used to deliver a multifunctional event space at the stockyard which could host exciting events and activities throughout the year, bringing additional footfall and attracting repeat visitors to the area. Complementing this activity, £2m of improvements will be made to the theatre on SMB group’s Melton campus. These improvements and upgrades will make the space more accessible and ensure it is able to secure and attract larger scale commercial events more often to provide a regular calendar of activity that will, alongside the stockyard, support the town centre and its burgeoning evening economy. Joe Orson, leader of Melton Borough Council, said: “This is absolutely fantastic news for Melton and alongside the pre-Christmas announcement on the relief road, will provide a massive boost to the economy and regeneration of our borough. “The delivery of these projects will enhance our reputation as the Rural Capital of Food, providing economic opportunities and support for established business and start up producers. Moreover, the creation of an event space at the Stockyard and investment into the theatre will together enrich our cultural offer and events, which will support the town centre and its expanding evening economy. “I’m excited we can now start working with our partners on this long term project to ensure the proposals set out in the bid are delivered to our community as soon as possible.” Alicia Kearns, MP for Rutland and Melton, has been supportive of, and involved, throughout the bid process: “I am absolutely delighted that Rutland and Melton’s Joint Levelling Up Bid has been successful! This is the most fantastic news and will change the future of so many of our communities. “I have worked hard alongside Councillor Joe Orson and Councillor Lucy Stephenson to promote our wonderful Levelling Up Bid focused on rural innovation and I am just so pleased that our work has paid off. “Rurality should never serve as a barrier to our thriving communities, and this funding will be truly transformative in promoting our local culture, health and transport infrastructure. Thank you to everyone involved and I look forward to seeing our plans become a reality!”

Leicestershire architects masterplan new Whetstone homes development

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Leicestershire architects masterplan new Whetstone homes development

IMA Architects (IMA), an architectural firm based on Lutterworth Road in Blaby, Leicester, has partnered with Jessup Partnerships on a new housing scheme that will deliver 49 new homes in Whetstone.

Work is now underway at the site, located on Cambridge Road. When completed, the development will consist of a range of one-bedroom apartments and maisonettes as well as two-and-three-bedroom houses. The project comes as a result of the continued high demand for smaller new homes in this area of Leicester.

Previously a brownfield site in the form of a car park, the scheme will transform the land into a residential hub that’s aesthetically pleasing, attracting new families, and working professionals to the area. Once complete, the new buildings will have feature brickwork panels on the front of each property, elevating the design to create an attractive place to live.

Working closely with Jessup Partnerships, IMA will provide architecture services, act as the principal designer and masterplan the entire site.

Speaking on the new scheme, Jack Mellor, IMA’s senior architectural technician, said: “We are delighted to be working alongside leading affordable homes provider Jessup Partnerships to deliver high-quality affordable homes for small families, first-time buyers and working professionals alike. By combining innovative design with cost-effective solutions, this scheme will facilitate the creation of stylish dwellings that are also practical and affordable.”

Giovanni Corbo, head of development and technical at Jessup Partnerships, said: “The Cambridge Road scheme will bring much needed new homes to Whetstone and we are pleased to have now broken ground on site.

“IMA have a proven track record in delivering housing projects across the East Midlands and we are pleased to have partnered with them. Our combined expertise will ensure Cambridge Road is a great place for Whetstone residents for years to come.”

Nottinghamshire visitor economy plans boosted

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Nottinghamshire visitor economy plans boosted
Post-pandemic plans to reinvigorate Nottinghamshire’s visitor economy have been given a boost – thanks to feedback from those at the heart of the industry. Visitor attractions, local businesses and suppliers had their say on the future of the county’s visitor economy as part of a six-week consultation which included an online survey and face-to-face events last Autumn. Those who took part included the Arts Council, business forums, the National Lottery Heritage Fund, Visit England as well as district, borough and parish councils. Based on feedback from industry and partners, plans have been updated to help give Nottinghamshire an even stronger identity when promoting the county as a unique place to visit. For the first time, there’s a separate theme for sport. The six main themes/selling points are: • Making even more of the global brand of Robin Hood and Sherwood Forest • The county’s fascinating history and heritage • Green and active – making the most of the county’s countryside and green spaces • Local produce and crafts • Sport as a spectacle • Contemporary culture These plans and themes to revitalise Nottinghamshire’s visitor economy were debated and discussed at Full Council. Final plans will be presented to Economic Development and Asset Management Cabinet for official sign-off then used as the framework to focus on practical ways to support the industry. A full action plan will be announced this Spring. Cllr Ben Bradley MP, leader of Nottinghamshire County Council, said: “We want to see the visitor economy get back to the pre-pandemic days of it being one of the fastest growing industries in the UK generating billions in GDP a year and employing over two million people. “Which is why we’ve listened to the industry to build on our existing plans. Sport warrants being a focus in its own right, after all the Tour of Britain cycle race brought a massive £4.3 million into the county’s economy and attracted 225,000 spectators – of which nearly 70 per cent were from outside the local area. “And should plans for a combined authority go ahead, having more decision-making powers and resources means bringing in more investment across Derbyshire, Nottinghamshire, Derby, and Nottingham making the region an even more attractive place to visit.” Cllr Keith Girling, the county council’s cabinet member for economic development and asset management, said: “We know there’s still challenges for the industry, particularly with rising costs, but it’s vital we boost our visitor economy by being even clearer about what we are all about and what we have on offer. These six themes give us a great basis to do that. “We thank everyone who fed back on this consultation to help us better focus on our visitor economy, which is wider than you may think, as it includes traditional tourism and everything in the supply chain that attracts visitors to Nottinghamshire – including construction, farming and sport – and the infrastructure that supports it.”

£20 million secured to invest in Kimberley

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£20 million secured to invest in Kimberley
Kimberley will benefit from £20m investment after the Government announced it has been selected to receive £16.5m from the Levelling Up Fund.
Broxtowe Borough Council has committed to add a further £3.5m to that figure to help improve the area for local people. Broxtowe MP Darren Henry, who supported the bid, said: “I am thrilled that Kimberley’s Levelling Up bid has been successful in securing £16.5 million worth of Government investment into the Town with additional support from Broxtowe Borough Council totalling £20 million investment. “From the moment the Government announced the Levelling Up scheme, I was clear there should be a bid centred on Kimberley and for the past two years I have been working with the Town and Borough councillors, and with local residents and businesses to ensure we submitted a strong and successful bid. “I am looking forward to getting these exciting new projects off the ground and ensure that the people of Kimberley and the surrounding area can take advantage of the fantastic opportunities on offer.” Councillor Tim Hallam, Portfolio Holder Economic Development and Asset Management, said: “This is fantastic news for Kimberley. It’s taken a huge amount of work to produce such an excellent bid, so it’s great to see this recognised in the funding awarded. “I look forward to seeing these projects come to life in the coming months and years, really giving Kimberley a boost towards a prosperous and sustainable future. “It’s a real shame that the Eastwood bid didn’t get the go-ahead from Government, but that won’t stop us from finding ways to invest in the town and continuing to add to the excellent plans that have already been developed. It’s vital that all of Broxtowe moves forward together and that nobody in the community is left behind.” The funding will be used to deliver the following projects: A Town Centre Improvement Project
  • In place of the existing Parish Hall on Newdigate Street, a new Business and Community Hub will be constructed. This will offer co-working and office space for start-ups and small businesses, as well as improved space for community activities on the ground floor.
  • Small Business Grants will also be made available to businesses in Kimberley to improve the feel and appearance of the town and the functionality of these businesses.
  • Lighting equipment will be purchased to create light displays and VR attractions similar to that on Valentine’s Day last year, to encourage events-based attractions in Kimberley and drive visitor footfall.
Digby Street Industrial Units and Swingate Farm sports facilities
  • The current football pitch at Digby Street will be redeveloped into 20 new industrial units to allow new businesses to move into Kimberley, driving job creation and economic growth.
  • A new sports facility at Swingate Farm will be developed in its place, with a new football and cricket pitch to support the outstanding Kimberley sports teams.
Cycle Path Network and Bennerley Viaduct Eastern Ramp
  • A new active travel route would link up Kimberley with Eastwood, Giltbrook, Phoenix Park Tram Stop and Bennerley Viaduct.
  • This project will also fund the construction of an accessible Eastern Ramp at Bennerley Viaduct, a Grade 2* listed railway viaduct of great historical and cultural significance and important tourist attraction.
  • These routes would allow more people to cycle and walk to commute to work and for leisure purposes, and would encourage more visitors to the area. It would also support reducing carbon emissions and healthier lifestyle choices.
The bid was produced by Broxtowe Borough Council in consultation with local residents, groups and Kimberley Parish Council.

Newly refurbished warehouse unit let on Derby industrial estate

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Newly refurbished warehouse unit let on Derby industrial estate
G5 Cranmer Road, West Meadows Industrial Estate, Derby, has been let, with Darran Severn of FHP Property Consultants acting on behalf of long term clients. G5 Cranmer Road is situated just off Pentagon Island on the A52. The unit provides 8,598ft2 of clear span industrial/warehouse accommodation and benefits from a self-contained yard to the rear. Darran Severn, director at FHP Property Consultants, said: “This is an excellent result for all parties involved and we were able to secure a new 5 year lease for our clients. The building benefitted from a comprehensive refurbishment and attracted good interest due to its self-contained secure yard which is always a big selling point these days. “Due to the demand, we were able to secure a rent which breaks back to £6.50ft2. We currently have unit E9 ‘under offer’ which is situated on the same estate and I look forward to announcing details on this in the coming weeks.”
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