Mattioli Woods subsidiary acquires Blackpool wealth management business
Specialist wealth and asset management business Mattioli Woods’ subsidiary Ludlow Wealth Management Group Limited has acquired Opus Wealth Management Limited for an initial consideration of £0.71 million and potential further consideration of up to £0.71 million dependent on the attainment of specified performance targets in the year after completion.
Opus is based in Blackpool and provides financial planning and wealth management services to circa 100 private client families with approximately £53 million of assets under advice. In the year ended 30 April 2023, Opus generated revenues of £0.37 million with a profit before taxation of £0.14 million. At 30 April 2023, Opus had net assets of £0.10 million.
Michael Wright, Deputy Chief Executive Officer of Leicester-based Mattioli Woods, said: “We’re delighted to welcome Opus Wealth Management to the Mattioli Woods Group, as part of the Ludlow business. We’ve highlighted we have a strong pipeline of bolt-on acquisition opportunities that can help us accelerate and complement our organic growth. This transaction marks another step towards our strategic goals.”
Ian Hemingway, Chief Executive Officer of Ludlow, said: “Opus is a business we know well. I expect our familiarity with the Opus team and our shared approach to looking after clients to facilitate a smooth integration over the next few months. This acquisition further strengthens our operations in the North West as we look to build upon our existing presence in the area.”
Lincolnshire gets £2m to launch new raft of skills bootcamps
The Greater Lincolnshire Local Enterprise Partnership has been awarded £2m by the Department for Education to develop another wave of Skills Bootcamps in partnership with Lincolnshire County Council.
There are courses available across a wide range of subjects including, electrical engineering, skills for the care sector, digital marketing, management and more.
Skills Bootcamps are flexible training courses for adults lasting at least 60 hours. They can help learners fast track to a new job, take on more responsibility in their role or gain new contracts if they are self-employed. The courses are typically at level 3, 4 or 5.
Employers can send members of staff onto a Skills Bootcamp to fill skills gaps within their business; in this case the courses are heavily subsidised with only a small contribution to pay.
Employers can also help develop a Skills Bootcamp focused on the skills needs of your business or help out with existing bootcamps by offering interviews to the newly qualified people who have completed one of the courses.
Two hundred and seventy-two learners attended previous Skills Bootcamps in Lincolnshire and Rutland and over 94% have taken on new or additional responsibilities within their current employment, or (where unemployed) have gained new jobs.
Simon Telfer, Chair of the LEP’s Employment and Skills Advisory Panel, said: “Thanks to our partnership with Lincolnshire County Council and funding from the Department of Education, we are able to offer a wide range of Skills Bootcamps that we hope will help to fill skills gaps in Greater Lincolnshire.
“They will also help individuals upskill and take on more responsibility in their current role or gain the skills needed to fast track into a new role.”
Most adults over the age of 19 who are living in England are eligible to take part in a Skills Bootcamp as long as they are prepared to take on a new job or new responsibilities.
Newark and Sherwood businesses invited to learn more about support to become environmentally sustainable
Businesses in Newark and Sherwood are invited to an online information event on 27 September 2023, 9.30am to 10.30am, to learn more about fully funded support to become more environmentally sustainable and to access specialist research and innovation advice and technologies through the new Accelerator Programme.
The Accelerator programme is led by East Midlands Chamber and funded through a proportion of the District Council’s UK Shared Prosperity Fund (UKSPF) allocation. The programme will enable businesses in Newark and Sherwood to access two separate strands of support through both the ‘Net Zero Accelerator’ and the ‘Innovation Accelerator’.
The Net Zero Accelerator will support businesses to reduce the cost of their energy bills and improve energy efficiencies through access to a variety of workshops, training courses and 1-2-1 bespoke consultancy opportunities to support businesses at any stage or level of their sustainability journey.
Topics will include themes such as energy efficiency, waste management and Investors in the Environment. The programme will also support businesses to develop comprehensive energy audits and de-carbonisation plans.
The Innovation Accelerator is targeted at new high-growth and scale-up businesses, providing advice and support from Innovation and Technology Specialists. Businesses will also have access to growth vouchers and advice on applying for and accessing potential capital grant funding.
The online information event, taking place on 27 September, will provide further details of how businesses can benefit from the programme and provide an opportunity to ask questions relevant to their Net Zero or Innovation goals.
Councillor Matthew Spoors, Portfolio Holder for Sustainable Economic Development at Newark and Sherwood District Council, said: “I am really excited that we are able to bring this Accelerator Programme to businesses across Newark and Sherwood in partnership with East Midlands Chamber.
“Businesses acknowledge the need to move to a more sustainable way of working; however, knowing where to begin and what steps are needed can be challenging. Through the Net Zero strand of the Programme, businesses will be able to receive specialist support to help them progress to their Net Zero targets.
“In addition, the Innovation Accelerator will provide an opportunity for those aspiring businesses in the district who could benefit from some support and advice from innovation specialists to take their businesses to the next level or to progress an exciting idea.
“I encourage anyone who would like to hear more about the exciting opportunities available through the Accelerator Programme to join our online information event on Wednesday, 27 September.”
Diane Beresford, Deputy Chief Executive of East Midlands Chamber, added: “The Accelerator programme has been carefully designed to provide businesses across the district with the right support, at the right time.
“At the heart of the project is a team of locally based Advisers and Specialists, employed by the Chamber, who will offer high-intensity support to businesses seeking to grow, create new jobs or exploit technology to improve performance.
“Working with an adviser or specialist will be a key ingredient for businesses interested in taking advantage of Accelerator support and a diagnostics report will show them where best to point their energies.”
Grant Thornton UK LLP makes three senior appointments in restructuring and insolvency practice
Grant Thornton UK LLP has made three senior appointments in its restructuring and insolvency practice.
In the Central & Midlands region, Jon Roden is being promoted to partner. Jon is a licensed insolvency practitioner and has built a trusted reputation in the local market. He will also lead work nationally with the asset-based lending community.
Also based in the region, restructuring director Rob Parker will become the firm’s UK-wide restructuring lead for construction, where he has recently led work on NMCN plc, Roadbridge UK Ltd and Buckingham Group Contracting Ltd.
Meanwhile, Philip Stephenson is appointed as head of restructuring in the North West. With more than 25 years’ experience in restructuring and insolvency, Philip is currently a partner in the firm’s London restructuring team, but previously worked in Manchester and has strong contacts there and across Cheshire, Liverpool City Region, Lancashire, and Cumbria.
Helen Dale, head of restructuring for Central & Midlands, said: “The promotion of Jon to partner, and the appointment of Jon and Rob to national roles, reflects their respected presence in both local and national markets and I’m delighted to be working with them in their new roles.”
Phase one of Derby’s Becketwell regeneration scheme complete
Construction work is officially complete on phase one of Derby’s Becketwell regeneration scheme, with the eagerly anticipated opening of Springwell Square, the new public square for the city.
Located adjacent to The Condor, Derby’s first Build to Rent (BTR) apartments on the site of the former Debenhams store on Victoria Street and close to the new £48.5m events and conference venue, the new public square is set to become the vibrant heart of the £200 million Becketwell scheme.
Springwell Square will be a hub for culture, leisure, and social interaction and a place for residents to pause and relax and will integrate seamlessly into the urban landscape. It has been funded by Derby City Council, with funding from the D2N2 Local Enterprise Partnership.
The Becketwell regeneration scheme is the most significant urban regeneration scheme in the city for more than three decades and will create a new quarter of residential, commercial leisure activity in the heart of Derby city centre.
It is also hoped that the substantial levels of investment made at Becketwell will provide confidence for further new investment in surrounding areas of the city centre.
The scheme is being developed by St James Securities, a privately-owned Leeds-based property developer, with a track record of delivering successful major regeneration schemes.
With phase one now complete, construction work is now underway on phase two, a new 3,500-capacity events and conference venue, which will be operated by ASM Global, the venue management and services company, and producer of live experiences.
Completion and handover to the operator is scheduled for early 2025.
Commenting on the launch of Springwell Square, Paul Morris, director of developers St James Securities, said: “We are delighted to welcome representatives from our partners Derby City Council, D2N2 and other key stakeholders to Springwell Square to mark the completion of phase one of the Becketwell scheme, a landmark regeneration scheme for the City of Derby.
“Over the past six years, we have been real trailblazers, prepared to take on a site that has been challenged for many years and creating a scheme which will revitalise and breathe new life into this area of the city.
“Springwell Square will open up land to the south and bring it back into use. It will be a place where people can meet and relax in an informal space and will improve the vibrancy and attraction of the city centre.”
Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism at Derby City Council added: “Becketwell is a key development for our city centre and the new public square is at its very heart. Our aspiration is to make Derby a vibrant place where people want to live, work, and visit and we are now seeing that aspiration become a reality.
“We understand the importance of community spaces and Springwell Square will provide a great opportunity for residents to come together and enjoy the green, outdoor space that it provides.”
Future planned phases of the scheme include the potential for a range of other complementary uses of the site including a hotel, further residential accommodation, and purpose-built student residential.
Burton clinic expands into new premises
Commercial property agent Rushton Hickman Ltd have helped an established Burton clinic move into new premises in a prominent location within Burton upon Trent. The premises comprise ground floor and upper floor accommodation in Horninglow Street.
The property provides 1,573 sq ft of retail space on the prestigious mixed-use development of Anson Court. Alice & Co has a total of four treatment rooms, a studio space, two waiting rooms, retail area and a coffee lounge.
Alice & Co founder, Alice Dring-Fern, said: “After working from home for four years, I knew I wanted premises to enable me to expand my business but also something to grow into. Everything about the building ticked all the boxes. The location, free car park, and beautiful Georgian features.
“Everyone at Rushton Hickman have been so supportive and helpful throughout the entire process, from property viewings, buying the contents and every step in-between. It’s been really reassuring to know the team are there to help when I’ve needed it. We opened our clinic doors on 15th August, and have loved to see so many faces, both new and familiar.”
Richard Fairey, director at Rushton Hickman, said: “We are pleased to have been able to help Alice secure her first premises and she has been a delight to deal with.
“The location here at Anson Court should complement her use really well and we now only have one available retail unit left to rent on site, such is the popularity of the development.”
Further success at Sherwood Business Park
Acting on behalf of long term investor clients, Tim Gilbertson of FHP has completed the letting of further warehouse/production space on Sherwood Business Park.
Following on from the sale earlier this month of 60,000 sq ft of space on Sherwood Park at Junction 27, a further 10,000 sq ft has now been let on behalf of different long term clients to an unnamed PLC occupier who were represented by Sam Pearson of Gerald Eve in the transaction.
Tim Gilbertson said: “The deal concluded was great for both parties, we have secured a Plc occupier who had been searching for some time for the ideal unit with craneage and their agent did a great job of agreeing terms on this deal.
“Whilst for my client this was a perfect transaction as the former occupier of the building left one day before completion of the new lease and took a larger 15,000 sq ft unit adjoining. Therefore, we had no void period creating continued income for our clients.
“This is the second deal on Sherwood Park that we have completed for this particular client this year and coupled with the sale I completed on Sherwood Park a few weeks ago, we have transacted in three deals just under 100,000 sq ft on this excellent location just off Junction 27 of the M1 motorway.
“Despite the undeniably less than robust economic conditions the country faces as a whole, these deals show again the strength of some of our East Midlands locations and the very limited stock that is available. Hopefully more industrial and warehouse buildings will come to the market soon as stock is certainly required to meet demand.
“Pleasingly, we should have another unit of circa 30,000 sq ft coming to the market on the estate in the next few months, one to be aware of for any occupiers seeking to take advantage of Sherwood Park and its proximity to Junction 27 of the M1 motorway.”
Sam Pearson of Gerald Eve said: “I am delighted to have secured this letting for my client, and believe the deal represents a fantastic agreement for all parties. Working alongside FHP, we were able to secure a tri-party agreement, effectively navigating challenges along the way to reach a successful completion.”
Comms agency pledges support to Framework in its mission to end homelessness
Nottingham-based PR agency Redbrick Communications is stepping up to donate consultancy expertise to Framework, the charity working tirelessly to change lives for the better and tackle homelessness across the East Midlands.
Redbrick Communications will be helping Framework – which delivers housing, health, employment, support and care services to people with a diverse range of needs – with strategic advice and media outreach to raise awareness of its work on a local, regional and national level.
The announcement of the partnership coincides with reports indicating numbers in temporary accommodation in England have hit a record high, and as the charity looks ahead to its flagship fundraising event Framework’s Big Sleep Out (7 October 2023), as well as launching its Winter Appeal on World Homeless Day (10 October 2023).
Claire Eden, head of fundraising and communications at Framework, says: “As a small team, we are incredibly grateful to Redbrick for donating their time and expertise. We look forward to working closely with them to help us on our mission to end homelessness and tackle disadvantage. With the cost of living and housing crisis once again hitting the headlines, it has become ever more important for us to continue to support people and our communities.”
Work has already seen Redbrick Communications help publicise activities including the support of young fundraisers; a press call with corporate partner Tesco offering welcome packs and home comforts for first-time residents of Framework accommodation, and another Redbrick client DHP Family being honoured in the naming of new accommodation for long-term rough sleepers, thanks to the fundraising efforts of the charity music festival Beat The Streets.
Next up is Framework’s Big Sleep Out, the charity’s flagship fundraising event which aims to raise vital funds to get rough sleepers off the streets. As well as getting the word out to encourage businesses and individuals to sign up, a team from Redbrick will be spending the night in sleeping bags at Nottingham Racecourse on Saturday 7 October.
Liz Bee, account director at Redbrick Communications, says: “No one can have failed to see the growing number of people sleeping on the streets. Having seen firsthand how Framework is changing lives devastated by homelessness and giving people a chance of a better future, we knew we wanted to try and help make a difference. We’re excited to be working with the comms team to help shine a light on the issues and the support needed to provide long-term sustainable solutions.”
In addition to offering PR support to Framework, the agency will also lend its expertise through social media marketing and crisis communications services, as well as general consultancy advice.
361,000 sq ft Nottingham logistics scheme on track for December completion
Construction work is well advanced on Nottingham 360, a 361,000 sq ft warehousing and distribution scheme situated five minutes from Junction 26 of the M1 motorway, as the project moves towards practical completion in December.
The 16-acre site on Firth Way, Bulwell, was acquired by Premcor Estates and Barwood Capital’s Regional Property Growth Fund IV in August 2021.
Nottingham 360 will be a high-bay logistics/production facility with a warehouse on the ground floor of 328,759 sq ft and additional office space of 32,874 sq ft which includes a hub office to the service yard.
ESG credentials form a key focus for the building design, which will deliver a BREEAM Excellent rating as well as Net Zero in construction.
Director of Premcor Estates, Rob Lane, said: “Nottingham 360 will be a best-in-class logistics scheme, which we are delighted to be bringing forward with Barwood Capital at a time when there is still robust demand for sustainable, well-located buildings.
“The construction is progressing extremely well with Winvic Construction and we have developed a solid relationship with the Winvic team who are doing a fantastic job. We have invited the most active regional agents and other guests here today so that they can see for themselves the quality of the new building ahead of completion.”
Retained agents for the scheme are Knight Frank (James Clements & Charlie Shephard) and Moriarty & Co.
Commenting on Nottingham 360, James Clements, a partner at Knight Frank and head of the Midlands logistics and industrial occupational agency team, said: “We are delighted to be marketing such a readily accessible unit with strong ESG credentials and best in class specification which meets the demand from an increasingly selective occupier market.
“We’re looking forward to completion in December and discussing requirements with interested parties.”
Adam Smith, asset management director at Barwood Capital, added: “With a key focus on ESG credentials that will deliver BREEAM Excellent and net zero in construction, Nottingham 360 is ideally located in the heart of the UK road network.”
The construction industry’s growth in 2023
The construction industry is one of the largest and most important sectors in the UK economy.
It employed over two million people and contributed £115.5 billion to GDP according to the latest figures for 2021.
A spike in demand in the housing market during the tightest grip of the COVID-19 pandemic led to renewed demand for construction, but rising interest rates and the cost-of-living crisis has slowed the rate of house purchases. Is this reflected in the construction industry?
UK construction figures in 2023
Figures from the Office for National Statistics (ONS) show that construction output in the UK increased by 1.6% in June 2023 – the third consecutive monthly increase, following a strong performance to start the year.
The growth in construction output is being driven by a number of factors, including:
· The government’s £100 billion infrastructure investment plan providing funds for construction projects
· An ongoing need to build more homes to meet demand from a growing population
· The growth of the renewable energy sector driving demand for new facilities
The impact of growth on construction sites
The growth in construction activity is generally having a positive impact on construction sites. There is more work for contractors, which typically results in increased employment and wages.
However, the increased activity has resulted in a growing scarcity and price of many raw materials, which has been a significant challenge for firms to overcome in recent months. Some specialised roles are also experiencing a shortage of skilled workers, which can slow jobs down.
One of the challenges facing construction companies is the need to find adequate site accommodation for workers, especially on large-scale projects.
Site accommodation hire companies are playing a vital role in providing adequate facilities for workers, helping to keep construction projects on track and help firms meet their health and safety obligations.
Can supply chains keep up?
The growth in construction activity is putting substantial pressure on supply chains. There are shortages of materials and labour, which is driving up prices and delaying projects.
Russia’s invasion of Ukraine is also having a negative impact on supply chains, as it has disrupted the global trade of commodities such as steel and timber.
Construction companies are working to mitigate the impact of supply chain disruptions by placing early orders for materials or finding viable alternatives.
How construction companies are adapting
The construction industry is adapting to the challenges of growth by:
· Investing in new technology, such as improved site equipment to decrease delays
· Autonomous plant machinery increasing efficiency
The construction industry is facing a number of challenges, but it is also undergoing a period of rapid change.
The industry is becoming more technologically advanced and efficient, and firms are also becoming more responsive to the needs of their clients as a result.
