Bellamy regeneration scheme takes shape

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Bellamy regeneration scheme takes shape

The £7.7m revitalisation of an estate in Mansfield is starting to take shape following the erection of the new shop parade steel structures.

Mansfield District Council’s redevelopment scheme on the Bellamy estate, near Tuxford Court, will see 22 high-quality affordable homes built, to be rented to families on the council’s housing list, as well as the creation of new retail outlets, demolition of the existing shop area, new through road, and a newly installed green space. Deliveries of the 133 beams and columns have been used in the last week to construct the new single-storey parade of retail outlets that will become a convenience store, cafe, and takeaway. All the steel used for the shops has been manufactured in Rugby and weighs around 12.6 tonnes. Once the shops are complete in May 2024, the next project phase will see the construction of the first phase of eco-friendly, affordable homes. Councillor Anne Callaghan, Portfolio Holder for Housing, said: “The new shop steel structure now in place just shows the scope and scale of one of the first phases of this transformational project, which will be of huge benefit to the residents of the Bellamy estate community and beyond. “We’re pleased that the construction work continues to move at pace, and it is just a testament to everybody involved in the project’s dedication and commitment to the scheme.” The council’s in-house architects have designed the 22 homes in line with the Future Homes Standard, which requires new homes to have low-carbon heating and high energy efficiency, resulting in considerably lower carbon dioxide emissions than properties built to current Building Regulations. The houses will include three four-bedroom semi-detached houses, eight three-bedroom semi-detached houses, nine two-bedroom semi-detached houses and two two-bedroom detached houses. The Bellamy regeneration scheme has been made possible with £7.7m of capital investment taken from the council’s Housing Revenue Account, which is made up of tenant rents and must be used to either build more homes or maintain the housing stock across the district. Part of the estate upgrade is already complete, with a new play park and learn-to-ride cycle track opening in early 2023.

New CBI East Midlands chair steps up

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New CBI East Midlands chair steps up
The East Midlands has a successful and diverse business community. In the run-up to the General Election, it’s more important than ever that the region’s business voice is heard – maximising opportunity to innovate and gearing up for a sustainable future. That is the view of the new chair of the CBI’s East Midlands Council. Danielle Gillett, Managing Director and founding member of EMB Group, is today taking over from Dr Nik Kotecha OBE DL, who stands down after completing his appointed two-year term. Danielle Gillett’s extensive experience in financial and commercial leadership spans more than 20 years. In her current role as chair of Leicester College, she is an avid promoter of collaboration between business and education, having held previous non executive directorships supporting students at De Montfort University and on national skills and enterprise advisory groups. She takes on this role at a crucial time for business in the East Midlands, which boasts unique growth potential for clean energy activities and zero carbon initiatives. She will advocate for increased investment in skills and R&D, boosting business confidence and seizing the economic prizes on offer in regional priority areas. This includes accelerating the UK’s push to net zero – aided by the development of a new Zero Carbon Innovation Centre as part of the East Midlands Freeport – and building on the skills of the East Midlands workforce. Nikki Paterson, CBI Midlands director, said: “Dr Nik has been a huge support to the CBI team and our members throughout the past two years. He has been, and will continue to be, a champion for the region through his work with the CBI and his many other ventures. I would like to thank him for his commitment and dedication as chair. “Danielle brings a huge amount of experience cutting across all sectors of the economy. She has an excellent understanding of the region’s needs through her roles with EMB Group and as chair of Leicester College. This year is of particular importance for local and regional politics, with Mayoral and national elections set to take place. I look forward to working closely with Danielle to ensure the region’s business voice is heard throughout.” Danielle Gillett, new CBI East Midlands chair, said: “I’m honoured and excited to be stepping into the role as chair of the East Midlands CBI Regional Council, and my thanks go to Nik for his leadership and focus in the East Midlands. “As we head into 2024, the role of the CBI will be crucial in shaping the agenda for stability and growth across the UK. The East Midlands has a successful and diverse business community and it’s more important than ever to ensure our voice is heard loud and clear in the run-up to the general election. The CBI will be championing issues that matter most to firms, like gearing up for a sustainable future, embracing digital technology and maximising opportunities to innovate. “At this pivotal moment, I look forward to playing my part and working closely with the other members of the East Midlands Regional Council to ensure our views are part of regional and UK-wide discussions.” Dr Nik Kotecha OBE DL, outgoing CBI East Midlands chair, said: “It’s been a privilege to have held this role, and to have contributed to the CBI over the last few years, first as a councillor and then as chair, through a time of considerable change. Through the period of my tenure, we’ve helped shape the CBI’s refreshed strategy, demonstrably amplified the voice of businesses in the East Midlands and brought critical business insights to many policy-shaping agendas. “I know this great work will continue – and it’s satisfying to know that the leadership of the Regional Council is in very capable hands with Danielle picking up the reins, supported by the regional team. I wish Danielle all the best – she’ll have my full support as I continue as a councillor, the support of the tremendous business leaders who comprise the council, and that of the wider business community who we represent, too.”

Work starts to make permanent Granby Street pop-up pedestrian scheme

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Work starts to make permanent Granby Street pop-up pedestrian scheme
Work to further improve a busy shopping street and important gateway into Leicester City Centre is due to get underway. Leicester City Council will begin works to widen footpaths and create more space for pedestrians on a stretch of Granby Street. The first phase of work will begin on Monday (22 Jan). The works will make permanent a pop-up scheme introduced in 2020 as part of the city council’s response to Covid-19. The improvements will see former pay-and-display parking bays along Granby Street – which have been out of use for more than three years – converted into wider, high-quality footpaths with outdoor-café seating areas to help improve the route between the city centre and Leicester railway station. Additional on-street parking bays will be created on Chatham Street, York Street and Dover Street. During the work, which is expected to take up to ten weeks, Granby Street will be closed to traffic between its junctions with Dover Street and Chatham Street. A short, well-signed diversion will be in place. The scheme will also permanently close the junction of Dover Street and Granby Street to motor vehicles to help improve safety. The city council plans to create a new turning facility on Dover Street, to maintain access for general traffic to nearby businesses and attractions, including The Little Theatre. These latest works are part of wider, ongoing investment to improve the street scene and shopping environment on Granby Street. This includes the refurbishment of the landmark Grand Hotel buildings and restoration of its historic shopfronts, supported as part of the city council’s successful bid for £1.5million from Historic England towards a High Street Heritage Action Zone for the Granby Street and Church gate conservation areas. Fifteen new businesses have opened in Granby Street since May 2021. Deputy city mayor Cllr Adam Clarke, who leads on climate, culture and economy, said: “Granby Street is an important gateway into the city centre and a busy shopping street in its own right. “These latest works will build on recent improvements to this popular part of the city centre, supporting the major heritage-based investment now being made to landmark buildings along the route. “It is vital that we continue to invest in Granby Street to support local businesses and to improve the look and feel of the area, making it feel safer and more welcoming to all.” Future phases of improvement work, which will see pavements widened along Granby Street towards the main shopping area in the city, will take place later this year.

UK Space Agency backs start-up based at Space Park Leicester

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UK Space Agency backs start-up based at Space Park Leicester
An agri-tech start-up working to eradicate global agricultural waste with support from Space Park Leicester has been accepted on to one of the UK Space Agency’s most prestigious business support programmes. Established in May last year, Messium is poised to transform the agriculture industry for the better by focussing on eliminating global agricultural waste through reduction in pesticide applications and the optimisation of fertiliser and water usage. Now it has been accepted on to the UK Space Agency’s Geo Accelerator six month bespoke programme which the agency limits to just five of the best high growth potential space companies in the UK. Messium Chief Technical Officer, Vishal Soomaney Vijaykumar, said: “Messium is keen to develop into a major UK space champion and wants to thank the UK Space Agency for their vote of confidence. “Being part of the UK Space Agency and Space Park Leicester ecosystems allows us to collaborate closely with other fast growing start-ups in the sector. “This promises to be a catalyst that speeds up both our, and the industry’s, collective future growth and development.” Being part of the programme will allow Messium to work in depth with experts from the UK Space Agency, its entrepreneurial growth and technical commercialisation enablers, funders and other organisations in the space sector. The wide ranging package of support also includes access to the UK Space Agency’s national roadshow of Trajectory events and free UKspace start-up membership. Last year, Messium became one of the latest companies to be accepted on the European Space Agency – Business Incubation Centre for the United Kingdom (ESA-BIC UK) programme at Space Park Leicester, the University of Leicester’s £100 million hub science and innovation park. Messium has also begun an activity in partnership with the European Space Agency and the UK Space Agency through the InCubed programme. Co-funded by the UK Space Agency, this activity involves Messium providing farmers with live updates on crop nitrogen status throughout the growing season, allowing for new insights, increased yields and reduced greenhouse gas emissions. Vinay Patel, Head of Commercial and Innovation at Space Park Leicester, said: “We are delighted that Messium has received this endorsement from the UK Space Agency. “Messium is using its expertise in machine learning and high spectral resolution image analysis to inform farmers precisely how to treat their crops for optimal results and minimal waste. We can’t wait to see where this support from the UK Space Agency will take them.” Portia Bircher, Business Support and Growth Manager at the UK Space Agency, added: “We are delighted that Messium will be joining our next Geo cohort, part of the UK Space Agency Accelerator, and we hope to be able to support the business as it looks to scale up further. “Messium is driving innovation in using Earth Observation data and what better place to be situated than Space Park Leicester which is also home to the National Earth Observation Centre.”

Merger plans agreed by real estate investment trust

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Merger plans agreed by real estate investment trust
The boards of Leicester-based Custodian Property Income REIT plc (CREI) and abrdn Property Income Trust Limited (API) have reached agreement on the terms and conditions of a recommended all-share merger pursuant to which CREI will acquire the entire issued and to be issued share capital of API. Following completion of the merger, existing CREI Shareholders will hold approximately 59.7% and API Shareholders approximately 40.3% in the CREI Group. It is expected that the CREI Board will comprise eight directors, with the addition of two of the existing API directors, Jill May and Sarah Slater. David MacLellan, chairman of CREI, said: “The Board is pleased to announce the merger of CREI and API which it firmly believes will benefit both our existing and new shareholders. “This transaction creates a well-positioned REIT of significant scale, giving the Combined Group’s shareholders the opportunity to participate in the returns from the complementary API and CREI portfolios, with a fully covered and sustainable dividend and a focus on ESG. “In the current interest rate environment, security and resilience of cash flows, scale and liquidity, supported by a clear and compelling strategic direction are the defining characteristics of a successful REIT. “The challenges the wider listed property sector has faced over the last 18 months highlight the merits of CREI’s differentiated approach and operational robustness, which contribute to CREI’s strong rating relative to its peers. The income and income growth characteristics of the API portfolio should enable the merged entity to optimise earnings and maintain CREI’s progressive dividend policy. “Shareholders in the Combined Group will benefit from material cost savings and efficiencies along with benefitting from significant future growth opportunities to enhance shareholder returns.” James Clifton-Brown, chair of API, said: “API has always sought to focus on delivering attractive, income-driven returns for shareholders. Over the years, API’s manager, abrdn Fund Managers, has assembled an attractive portfolio on the company’s behalf, with a weighting to more favoured areas of the market, a diversified tenant base and a focus on ESG. “The board of API would like to thank the management team for the important role they have played in assembling and managing the portfolio. “The Merger will enable API Shareholders to retain exposure to the portfolio and its growth prospects at a significant premium to API’s share price, with the prospect of superior share liquidity and an enhanced and fully covered dividend. “The API Board believes that, with increased scale and an enhanced capital structure, the Combined Group will be well positioned for the future. The API Board is therefore pleased to recommend the Merger to API Shareholders.”

Logistics firm proposes Wincanton acquisition

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Logistics firm proposes Wincanton acquisition

Ashby de la Zouch-based CEVA Logistics UK Rose has reached agreement on the terms of a recommended cash offer for Wincanton.

The acquisition values the entire issued and to be issued share capital of Wincanton at approximately £566.9 million on a fully diluted basis and values Wincanton at approximately £764.9 million on an enterprise value basis.

The deal implies an enterprise value multiple of approximately 6.8 times Wincanton’s underlying EBITDA and 11.7 times Wincanton’s underlying EBIT for the twelve-month period ended on 30 September 2023.

For CEVA the intended acquisition of Wincanton “represents an attractive growth opportunity” that is in line with its expansion strategy, and a “unique opportunity to expand CEVA’s offering in the UK, and to acquire complementary grocery and consumer expertise.”

Wincanton, listed on the premium segment of the Main Market of the London Stock Exchange, is a British supply chain solutions company. The Wincanton Group provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer ‘dark stores’; two-person home delivery; fleet and transport management; and network optimisation for many of the UK’s best-known companies.

With almost 100 years’ heritage, Wincanton’s approximately 20,300-strong team operates from more than 170 sites across the country, responsible for approximately 8,500 vehicles.

CEVA is a third-party logistics firm, providing global supply chain solutions to connect people, products and providers all around the world. CEVA is part of the CMA CGM Group, CMA CGM being a global player in sea, land, air and logistics solutions, serving more than 420 ports around the world across five continents, with a fleet of around 620 vessels.

Sir Martin Read CBE, chairman of Wincanton, said: “This offer for Wincanton from CMA CGM is testament to the strength of the business we have built, our strategy, our strong customer relationships and our excellent people.

“CMA CGM is a highly-experienced operator in the industry, and as Wincanton becomes part of this larger business, it will be able to capitalise on the significant growth opportunities ahead.

“In unanimously recommending this offer to shareholders, the directors believe it is in the interests of all the company’s stakeholders. While we remain confident in the long-term prospects of Wincanton and the wider sector, we recognise that the strong performance of the company has not been reflected in the performance of its shares in recent years.

“We therefore believe this offer represents the best opportunity for shareholders to realise the value of their investment with greater certainty.”

James Wroath, Chief Executive Officer of Wincanton, said: “I am incredibly proud of the progress we have made at Wincanton over the last four years, thanks to our great people and customers. We have strengthened our business and ensured that we are at the forefront of logistics innovation.

“Our work in automation and technology has been industry-leading and has allowed us to take advantage of trends towards outsourcing and eCommerce while continuing to improve service for our long-term customers.

“This offer will enable Wincanton to continue and accelerate the progress that has been made, providing an excellent partner with the balance sheet strength that will allow the pursuit of both existing and new growth opportunities.

“CMA CGM’s strong track record of investing in its people and its commitment to its customers means that we are confident this offer will deliver benefits for all of our stakeholders.”

Rodolphe Saadé, chairman of CMA CGM, said: “I am very excited about the prospect of working with Wincanton’s experienced leadership team and the power of the combination with our logistics arm, CEVA.

“As a leading and trusted supply chain partner for many well-known British and Irish brands, Wincanton perfectly aligns with the CMA CGM Group’s ambition to further expand its presence in this strategic region.

“Wincanton’s renowned expertise in designing supply chain solutions for customers in the retail, grocery, eCommerce, construction, infrastructure, energy and defence sectors would enable CEVA to further diversify its contract logistics customer base.

“Bringing together the two entities would strengthen the CMA CGM Group’s footprint in the United Kingdom and Ireland, while also paving the way for new opportunities and more innovative product offerings. On behalf of our 155,000 staff members, I look forward to welcoming Wincanton’s talented people within our Group.”

Mathieu Friedberg, Chief Executive Officer of CEVA, said: “Wincanton’s commitment to their people drives their success in the UK contract logistics market. At CEVA, we accomplish our mission through the diverse, talented people we have working in the UK and around the world.

“The proven track record of both CEVA and Wincanton are largely thanks to our respective employees. In addition to the innovative logistics solutions that we could develop and offer together, we would be optimally positioned to answer even more supply chain challenges for our combined set of UK customers.”

2024 Business Predictions: Anna Hutton, director of communications and behaviour change at MacMartin

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2024 Business Predictions: Anna Hutton, director of communications and behaviour change at MacMartin
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 Anna Hutton, director of communications and behaviour change at marketing agency MacMartin. During 2023 we have seen a significant rise in the use of AI, and this is only predicted to increase. Behaviour change marketing is the term used to describe campaigns which are created to change human behaviour; whether that is to stop smoking, or to call out friends when they are carrying out misogynistic behaviours. With that in mind, our prediction for 2024 will be to see a rise in the need for human intelligence: a requirement to understand humans at a deeper level. As humans, we are predictably unpredictable. The rise in AI will call attention to the areas of work in marketing where the need for understanding humans and individual differences is really important. AI can’t replicate true creativity, understand nuanced social cues, or empathise in complex situations. These skills are deep rooted in human experiences. Behaviour change marketing is about our behaviours and attitudes; employing traditional marketing techniques to communicate with people to drive the desired changes in behaviour, based on our understanding of humans, including the acknowledgement of individual differences. For all the prevalence of AI, it will never be able to take over this profound understanding of humans and it is this that will become more and more important.

2024 Business Predictions: Kevin Hard, MD at Stagfield Group

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2024 Business Predictions: Kevin Hard, MD at Stagfield Group
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 Kevin Hard, Managing Director at land promotion and property developers, Stagfield Group. Sustainable developments are high on the political agenda right now and I don’t see that changing as we move forward into 2024. With Biodiversity Net Gain legislation coming into effect imminently and climate change and energy prices ever increasing, the focus is very much on providing innovative low energy homes, which helps combat the cost of living and creates desirable communities that people want to live in. Our latest development, ‘Abbey Central‘ in partnership with Peveril Homes, is breaking new ground with 71 homes designed with low-energy and sustainable development at its core.  We’re really pleased that the housing development has been highlighted as a blueprint case study by the local Council as to how future developments should be built in order to meet Carbon Net Zero goals. The Bank of England’s recent decision to maintain interest rates at 5.25 percent is testament to the careful consideration being given to the state of our economy. This decision provides a degree of respite for homeowners who have faced 14 successive rate increases and could indicate the conclusion of a demanding period for savers and borrowers. Nevertheless, it is essential to approach this development with a certain degree of scepticism. Amidst the challenging economic landscape, we can affirm that the Bank of England’s choice to halt interest rate hikes provides a ray of hope. The journey has been arduous for homeowners and savers alike, and this pause might introduce a phase of stability, presenting potential opportunities for those considering entry into the housing market. There is a likelihood that lenders will be motivated to provide more competitive mortgage rates. Notably, fixed rates below five percent are emerging in the market, particularly tailored for individuals with existing home equity to contribute toward a deposit.

Vistry Group signs deal to deliver 60 new homes for Northampton

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Vistry Group signs deal to deliver 60 new homes for Northampton
Vistry Group, the provider of affordable mixed-tenure homes, has sealed a £15 million deal to bring 60 new homes to Towcester Road, Northampton, in partnership with emh Group. The site already has Outline planning permission and the application to approve the Reserved Matters has recently been submitted. This new development will consist of 2-, 3-, and 4-bedroom homes. Set in the heart of south-west Northampton, this project has been planned by Vistry, working under its Countryside Partnerships brand, to strike a balance between family-friendly housing and green open spaces. As well as catering to the diverse housing needs of the area, the project will also include over £550,000 of investment in the local community. Andy Reynolds, Managing Director of Vistry South East Midlands, said: “We are thrilled to be working with emh on this development which will not only meet the housing needs of the community but will also blend with the local environment. “We’re excited to be a part of Northampton’s growth and to be entrusted with the build of these much-needed new homes which will contribute to the unique character of the area as well as releasing over half a million pounds of investment in local services to create a thriving and sustainable community.” Chris Jones, executive director of development at emh, said: “We’re proud to be working alongside Vistry Group to provide this new affordable home development in Northampton. “The scheme has been thoughtfully designed to meet the needs of local people, with community, green spaces and the environment in mind. We look forward to seeing the development progress in the coming months.”

Derby business owner prosecuted over counterfeit t-shirts

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Derby business owner prosecuted over counterfeit t-shirts
A Derby man, prosecuted for producing and selling counterfeit t-shirts for around four years, will have to use equity from the valuation of his property towards paying back the rewards of his crime. In September 2023, Mr Juri Frolov was sentenced to four months imprisonment, suspended for 18 months, and an application made under the Proceeds of Crime Act to recover any money he made from the illicit business. Some of this is now set to be paid from Mr Frolov’s share of equity on a house purchased through the Right to Buy scheme, following a hearing at Derby’s combined court centre on Thursday 11 January. The total benefit amount of £36,891.61 can only partly be met through the release of Mr Frolov’s equity in the property and the sale of seized items, including a heat press, printer and blank t-shirts. Together, these total £22,640, leaving a further £13,000 to be found. Councillor Shiraz Khan, Cabinet Member for Housing, Property and Regulatory Services, said: “This case is a perfect example that crime doesn’t pay, and shows that we are prepared to use whatever powers necessary to tackle illegal activity in Derby. “This type of firm action through the courts serves as a warning and deterrent to anyone operating criminal enterprises in the city.” Mr Frolov was prosecuted in September 2023 after printing and selling T-shirts of famous brands without the consent of the trademark owners. Investigations discovered he had been selling the T-shirts for around four years leading up to December 2019, when a search warrant was carried out at his home in the Arboretum area of Derby City. Trading Standards seized equipment including a T-shirt printer, a large amount of blank T-shirts, and customer returns. The shirts were advertised on eBay and printed to order from Mr Frolov’s home address. Previously Mr Frolov had received a letter from an anti-counterfeiting organisation requesting him to stop selling T-shirts which were produced without the consent of the trademark owner. He had failed to acknowledge the content of the letter and take appropriate action to stop producing and selling the T-shirts.
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