Hucknall Peacocks store sold
FHP, acting on behalf of a private family property company, have completed the sale of the Peacocks store at 38-40 High Street, Hucknall, Nottinghamshire.
David Hargreaves said: “This has been a long and drawn out project following the administration of Peacocks during Covid. The new Peacocks Phoenix company wished to retain this store as it was one of the more profitable stores and so we began negotiations with the administrators and Peacocks to agree terms for a new lease.
“Once the new 5 year lease was in place at a rent of £43,000, we brought the investment to the market with an asking price of £450,000.
“As a result of the monthly increases in Base Rates throughout 2023 we had to reprice the investment in September resulting in a sale at a price of £420,000.
“This is a great buy for the private investors giving them a large store of circa 6,000 sq ft with rear parking and a yield of 10.00% for at least a further 4 years. Longer term there is an option to split the store to create 3 shops and 2 upper floor flats if Peacocks don’t renew the lease in 2028.”
FHP acted for the vendors, a private family company that had owned the store for 30+ years. The purchasers represented themselves.
Panther secures multi-million pound Silentnight deal
Two-person delivery specialist, Panther Logistics, which is part of AIT Worldwide Logistics, has been awarded a new four-year contract with Silentnight.
The new deal will see Northampton-based Panther continuing to support Silentnight’s contract with the Premier Inn hotel chain, delivering beds and mattresses to hotels across England, Scotland and Wales, for which it has delivered over 60,000 beds over the past 12 months.
Silentnight has been a Panther customer for the past nine years for its retail operation and has worked with Panther’s recently formed Specialist Operations Division since 2022.
Panther’s Specialist Operations Division delivers bespoke support solutions for large scale delivery clients such as Silentnight. These new commercial opportunities allow Panther to diversify from its two-person deliveries into a much larger scale operation, offering support across the country to clients who require higher volume deliveries that necessitate a more tailored individual solution.
The new multi-million-pound contract with Silentnight will see Panther delivering new beds and mattresses over the next four years, as well as removing the current mattresses and beds for recycling.
“Since its launch, our Specialist Operations Division has been a great success and is yet another milestone for Panther and further demonstrates our ability to consistently push the boundaries,” says Andy Dale, Panther’s Finance and Commercial Director.
“The specialist install and delivery solution by Panther for Silentnight demonstrates the strength of the partnership and we are delighted that we will be continuing to develop our offering with them.”
To support the operation, Panther has invested substantially in the sourcing and training of select teams of specialist installers, exclusively assigned to the Silentnight contract.
“We are very excited about this growing partnership between Silentnight and Panther, it marks another significant stride in our hospitality business, made possible by Panther’s invaluable support,” says David Lawrenson, Sales Director for Hospitality at Silentnight.
“Our hospitality contracts expect and thrive on seamless, large-scale logistics, demanding an expert partner for success. Panther’s unwavering commitment and impeccable service since our collaboration in 2014 have not only impressed us but played a pivotal role in fuelling Silentnight’s remarkable growth.
“They are a key driving force behind our continued success and the obvious choice of delivery provider to support us on our ongoing expansion.”
First-time buyers swoop for Nottinghamshire pharmacy as owner retires
Specialist business property adviser, Christie & Co, has sold Manns Pharmacy in Nottinghamshire.
Manns Pharmacy is a standard hours community pharmacy that dispenses an average of 5,000 items per month. It is located in the residential area of Mapperley, a suburb three miles north-east of Nottingham city centre.
The business has been owned by Gurinder Singh Mann for over 20 years and was brought to market to allow him to retire.
Following a confidential sales process with Carl Steer at Christie & Co, and with funding sourced through David Ward at Christie Finance, it has been purchased by first-time buyers, Mitan Maisuria and Rahul Patel. They will both work in the pharmacy going forward and will aim to increase its service offering.
Carl Steer, Director – Pharmacy at Christie & Co, says: “The sale proved popular, with eight offers from five parties. I have no doubt the pharmacy will benefit from being operated hands-on by Mitan and Rahul, and I wish them all the best with their first pharmacy business.”
David Ward, Senior Director at Christie Finance, says: “I am delighted to have arranged the funding for Mitan and Rahul for the purchase of Manns Pharmacy in what is currently a tougher lending market than this time last year. I am sure that they will take the pharmacy business to new levels.”
Manns Pharmacy was sold leasehold via asset sale for an undisclosed price.
Plans submitted for further student accommodation scheme at The Island Quarter, Nottingham
The Conygar Investment Company has submitted a detailed application for the next phase of development at The Island Quarter, Nottingham.
The application comprises a 383-bed student accommodation scheme.
Robert Ware, Chief Executive of Conygar, said: “We are delighted to submit this application for the next phase of our development.
“Nottingham is home to two top class Universities and this scheme will be an excellent addition to the mixed-use development we are creating at The Island Quarter.”
A 693-bed student scheme is already being built at The Island Quarter, topping out in June 2023.‘Put yourself forward for a King’s Award’, Lord Lieutenant urges Leicestershire’s small businesses
More of Leicestershire’s small business innovators should put themselves forward for a King’s Award, according to Lord Lieutenant Mike Kapur.
Speaking during the Leicestershire Innovation Festival 2024 Mr Kapur described the benefits of receiving the Royal recognition, and expressed a belief in the talent in the county. He said: “Thirteen Leicestershire businesses have won the Award for Enterprise since 2018 – seven of them in the Innovation category.
“The Leicestershire Innovation Festival has once again shown us the breadth of ground-breaking work going on in our city and county – we want to make sure that more of these businesses are recognised at the highest level and are aware of the opportunities happening around them.
“The King’s Award for Enterprise is the UK’s most prestigious business award, presented annually to businesses which have proved outstanding in their field.”
He and Deputy Lieutenant, Ian Borley, welcomed guests to the event at the National Space Centre and presented opportunities available through the King’s Award.
Winners come from all sectors and include large and small businesses. Recognition is awarded across four categories: Innovation, International Trade, Sustainable Development, and Promoting Opportunity through Social Mobility.
Winners are invited to a Royal reception, can fly The King’s Awards flag at their office, use the emblem on marketing materials, and are presented with the award at their premises by the Lord-Lieutenant.
Meanwhile, guests also received an update on opportunities linked to the ongoing Space City Leicester cluster.
Space City Leicester was launched by City Mayor Sir Peter Soulsby during an event at the Space Centre in March 2023.
It will create one of the UK’s largest Enterprise Zones for space-related activities, and represents up to £233 million of investment in new and planned facilities.
Chas Bishop, LLEP Director and CEO of the National Space Centre, said: “Plans for the Space City Leicester demonstrate the strategic importance of innovation in our region – as well as the opportunities being created to grow exciting businesses.”
Space City will work with partners from pre-school to post-doc – driving research, production, manufacturing, and development – as we builds on Leicester’s role as a key part of the UK’s Space sector.
It will also be home to other knowledge economy businesses, such as those working towards decarbonisation, innovative start-ups and growth businesses.
Regional business leader appointed to key devolution role
A top regional lawyer has been appointed to the shadow board steering the creation of the new East Midlands Combined County Authority (EMCCA), ahead of the very first election for East Midlands Mayor in May.
David Williams, Chairman of Geldards, will take on the role of interim business representative on the EMCCA shadow board, joining local politicians from the four key councils involved in the East Midlands devolution deal.
David said: “I’ve lived and worked in the East Midlands for over thirty years and I’m committed to doing what I can to raise the profile and economic prosperity of the region, developing the many successful partnerships between the private, public and third sectors.
“I’m looking forward to working with political leaders and other partners to maximise the opportunities that devolution will bring to the region.”
Councillor Barry Lewis, Leader of Derbyshire County Council, said: “David will be a tremendous asset to the shadow board and his appointment is another important step forward as we press ahead towards the creation of the new East Midlands Combined County Authority.
“David brings a wealth of experience and knowledge to the role and we look forward to working with him during this key period for East Midlands devolution.”
Councillor Ben Bradley MP, Leader of Nottinghamshire County Council, said: “It is vital that we have the very best expertise to help lay the foundations for the County Combined Authority.
“David’s experience and knowledge will ensure that we can maximise on the opportunities to attract investment into the region and ultimately give the people of the East Midlands the best possible outcomes in all aspects of their lives.”
Councillor Baggy Shanker, Leader of Derby City Council, said: “Our region is home to world-class industry and leading businesses, from major multinationals to fantastic small and medium-sized enterprises.
“I’m therefore delighted to have David as part of our shadow board – I have known David for many years and he has made excellent contributions to our region. He will play a crucial role to champion the business sector and bring in more investment and high-quality jobs to our local economy.”
Councillor David Mellen, Leader of Nottingham City Council, said: “It’s an exciting time as we move forward with the East Midlands Combined County Authority and it’s important that we have people with the expertise and knowledge to deliver this.
“David is a great asset to the new the shadow board and will be a key business representative for the region. He joins a strong team already working to deliver the best of the devolution deal for Nottingham and the region.”
Alongside his role as Chairman of Geldards, David holds a number of non-executive and trustee positions, including Chairman of EMB Group Limited, Deputy Chair of D2N2 LEP, Board member at Nottingham Trent University and a non-executive Director of East Midlands Chamber of Commerce.
EMCCA is set to bring in around £4 billion of funding for the region, alongside devolved powers for transport, skills and adult education, housing, the environment and economic development.
Revolutionary microscopy technique invented at University of Nottingham set for global use after adoption by US company
A revolutionary microscopy technique, invented at the University of Nottingham, which can image the microscopic elasticity of engineering materials is set for global use after being adopted by US company Coherent Photon Imaging (CPI).
Many materials are made up of thousands of small crystals. The size, shape, and stiffness of these are essential to the material’s performance. In real engineering materials, such as aero engine components, the stiffness of these crystals previously hasn’t been able to be measured, but could only be identified from specially prepared single crystals, which had to be prepared in laboratories at great expense.
These single crystals often had significantly different properties from the real engineering material they were supposed to represent due to differences in their preparation. This meant that it was previously impossible to determine the fundamental microscopic stiffness of real materials – an issue industry has faced for more than 100 years.
Now, the university’s patented invention, SRAS, and the newly patented SRAS++ technique, can measure this complex stiffness in real materials and “image” the stiffness, making it possible to map variations, for the first time. These brand-new discoveries pave the way for a myriad of other applications, such as the detection of residual stress and in situ monitoring the progress of processes such as heat treatment and annealing.
Supported by a six-figure funding boost from the EPSRC, the technology has already started to be used in aerospace to evaluate the structural integrity of materials used in the manufacture of critical engine components. Now, it’s set for global adoption through a collaboration with Iowa-based CPI.
Professor Matt Clark, co-lead on the study from the Optics and Photonics Research Group at the University of Nottingham, said: “Previously, the only way to measure the elasticity matrix of a material was to cut it up or attempt to grow a single crystal of the material, a process that cannot be done for many materials, such as the titanium alloys used in modern jet engines, which wastes money, time, and materials.
“We’re thrilled to be able to announce our partnership with the team at CPI, marking a significant step in the wider commercialisation of SRAS and SRAS++. Clients are already signing on the dotted line to adopt the technology and we look forward to seeing our research turn into reality.”
Pete Collins, Founder and Co-owner of CPI, said: “Rarely does a new measurement technique emerge that has the potential to truly transform the way that industry operates when it comes to materials characterisation, design, and qualification. Considering the advancements over the past 90 years, I assess that SRAS and SRAS++ are equivalently significant advances as the transmission electron microscope, scanning electron microscope, focused ion-beam microscope, and the local electrode atoms probe.
“What sets this apart is that it measures not only a material’s state, but also its elasticity, a capability none of these other methods can do. This is a game changer. We are delighted to be working closely with such a pioneering group to bring this technology to market as widely as we can.”
Dr Richard Smith, Associate Professor and member of the Optics and Photonics Research Group, said: “We’re continuing to look at other ways we can use SRAS and SRAS++ and have already incorporated it into 3D printing technology, creating a way to monitor the state of a material while it is printed. This is just the beginning for technology of this kind and we’re excited to see how far our research can take us.”
Land lease helps Northamptonshire County Cricket Club take first steps towards new facility
West Northamptonshire Council (WNC) has agreed to lease land to Northamptonshire County Cricket Club (NCCC) as it looks to deliver a brand-new cricket facility in Northampton.
At a cabinet meeting on Tuesday (13 February), councillors approved plans for a 125-year lease for land at New Manor Farm, Moulton to NCCC, which will enable the club to take a step forward in consulting with residents around the further progress of proposals to deliver a second site. Those proposals will be tested through the planning process and local licensing regimes, which will be subject to the usual consultation processes.
Ray Payne, NCCC Chief Executive, said: “This is an exciting milestone in a project that we’ve been working on for some time.
“There’s so much growth happening for cricket in the county, particularly in the women’s game and disability cricket, and over the last few years this has significantly increased pressure on our existing facilities.
“We cannot play any more games at The County Ground than we do currently, so it makes sense for us to investigate the idea of an additional venue, which the site at Moulton offers.”
The plans are for a permanent capacity of 2,000 and while the illustrative plans from NCCC show temporary stands which would substantially increase the capacity, this could only happen with the permission of the local authority and is not part of the lease agreement considered by WNC’s Cabinet.
The new venue would become a home for the development of women’s and girls’ cricket of all formats, including softball festivals, junior leagues and provide a consistent venue for pathway cricket. There are no plans to move the professional men’s setup or club offices away from The County Ground, a venue Northamptonshire County Cricket Club has called home since 1886.
Cllr Adam Brown, Deputy Leader of West Northamptonshire Council and Cabinet Member for Housing, Culture and Leisure, said: “We are pleased to have agreed to lease this land to NCCC so that they can begin the process of making this opportunity a reality.
“This is an exciting step forward in their plans to deliver a first-class facility in West Northamptonshire and supports the council’s commitment to providing accessible health and wellbeing facilities in local communities.
“These proposals will ensure cricket, as the primary use, continues to be an important element in the Northamptonshire calendar, providing high-quality training opportunities as well as improved walking routes throughout the local area and will follow thorough consultation and discussion with residents.”
Gavin Warren, NCCC Chairman, said: “We’re proud that prudent governance and commercial growth of the club have helped us to achieve an enviable level of financial security.
“Now we need to ensure that we invest in our facilities so we can increase opportunities for everyone to play and expand the club’s reach into communities across Northamptonshire and surrounding counties.”
G F Tomlinson partners with Derby clothing bank for new year support
Midlands-based contractor, G F Tomlinson, has linked up with the Hope Store Charity in Derby to support the local community with essential items.
The Hope Store – part of the Hope Centre food bank in Derby – seeks to provide clothing, toiletries, and kitchen equipment to those in crisis, alongside supporting with food donations and hot meals at its premises on Curzon Street.
The organisation currently serves approximately 30 customers per week, including young and elderly, refugees, asylum seekers, low-income families and single parents living in poverty or fleeing domestic violence.
Those in need of items are able to book an appointment and pick up a Hope Store voucher from a number of agencies within Derby, where they can access the donation services on a quarterly basis.
Since October 2023, G F Tomlinson has been organising a clothing and kitchenware collection at its offices and installed six donation containers across its Building and Group offices to enable employees to drop off items with ease.
A substantial amount of quality donations were received, which included essential clothing, shoes, saucepans, cutlery and crockery.
Adrian Grocock, Managing Director of G F Tomlinson, said: “Giving back to our local community is incredibly important to us as a business, and the Hope Store charity works hard to make a positive difference to the lives of so many in the area.
“Its services provide essential items to vulnerable people from all backgrounds, at a time when the cost-of-living crisis is making it very difficult for many to meet basic needs. We hope our donation can make a small contribution towards the important work that the Hope Store does for so many people in need.”
Denise Hawley, Manager of The Hope Store, said: “We would like to thank G F Tomlinson for the abundance of donations we have received. Their generosity will help improve the lives of those in the local community tremendously. We are extremely grateful for their support.”
AO World saves 73 jobs with A1 Comms acquisition
AO World, the electricals retailer, has swooped for A1 Comms, saving 73 jobs, following the Derbyshire mobile phone and communication solution provider’s fall into administration.
AO World has acquired certain assets of A1 Comms Limited, principally the intellectual property rights in and to the websites.
The consideration for these assets was £2.2m paid in cash.
A statement from AO says: “As AO seeks to expand its mobile proposition, the acquisition of the brands and platforms will provide AO with expertise and synergies that will accelerate this ambition. AO is also pleased to have saved 73 jobs through the transaction.”