£1.3m council loan could kick start transformation of Derby city centre properties
A £1.3 million loan by Derby City Council could kick start £11 million of private investment to bring neglected city centre properties back into use.
A proposed scheme by private developers would see buildings bought and refurbished to provide residential units, office space, retail and hospitality units in a location where regeneration is already under way nearby. The properties are in a priority area for the Council and the project will help meet a number of objectives in Derby’s City Centre Ambition.
The Council would be working in partnership with the private sector in its ambition to bring vibrancy back to the city centre by boosting the local economy, improving the street scene, increasing foot flow during the day and night, and connecting key landmark buildings with improved street scenes.
Details of the properties and company involved cannot be disclosed at this stage for commercial reasons, but the company behind the proposed scheme involves property investors with a track record for delivering commercial and residential properties, both locally and nationally. The loan is subject to Cabinet approval at its next meeting.
The properties, once completed and occupied, would be expected to generate an additional £100,000 a year in business rates alone for the Council, with further income from Council Tax payments by the new residents.
Councillor Nadine Peatfield, Cabinet Member for City Centre, Regeneration, Culture and Tourism, said: “We’re committed to working with our partners to enable fresh and exciting ideas to put the heart back into our city centre.
“The Council’s financial position means we need to make sensible, strategic decisions to support partnership investment in order to fulfill our vision for Derby City Centre.
“This scheme has the potential to create new business opportunities, make the area more attractive and generate income for the Council in the long term. We are excited to support such key investment in our High Street.”
New boutique hotel makes progress in Chesterfield town centre
The development of a new boutique hotel in Chesterfield has achieved another milestone, having received the green light from planning officers.
Voeberg has taken on the project to develop the Holywell Hotel, next to the town’s well-known Holywell Cross or ‘Donut’ roundabout in the heart of Chesterfield.
The Grade II listed building is set to undergo more than £1 million of refurbishment, sensitively converting it into one two-bedroom and eight one-bedroom apartments for use as short-stay accommodation.
Emily Smith, property investor and mentor at Voeberg, said: “We’re really excited to have the support for the project from the council and all the stakeholders involved in granting planning permission.
“We’re working through some of the final building control requirements, but are expecting to start the renovation imminently. We’re looking forward to enhancing the character of the Grade II listed building while bringing it into a new use.”
Once work is completed, the premises will operate as a ‘smart hotel’ with self-check-ins, keyless entry and a digital portal which will provide guests with relevant information about their stay. Work will also take place to repair the buildings, including restoring the sash windows, renovating the doors and conserving all the listed features.
Emily added: “The hotel is going to offer a different accommodation option for Chesterfield’s visitors – whether leisure or business. The location serves the town centre as well as the train station so it’s ideal for people travelling and conducting business in the area.
“It’ll complement other hospitality and retail businesses’ offerings in the town and we’re looking forward to partnering with many local businesses through the development and then the running of the hotel.”
Nottingham businesses urged to consider cash grants of up to £25,000 for green transport schemes
Nottingham businesses are being urged to consider cash grants of up to £25,000 for green transport schemes before a deadline at the end of the year.
The money can be applied for through Nottingham City Council’s Workplace Travel Service.
So far, the scheme, funded by the government’s Transforming Cities Fund, has distributed more than half a million pounds locally to help Nottingham businesses go greener.
In order to qualify, a business or organisation needs to be based within the Nottingham City boundary. Businesses contribute 25 per cent towards the costs of any scheme, but public-sector, voluntary or charitable groups are fully funded. The deadline for applications is 31 December this year.
Nottingham City Council’s Portfolio Holder for Highways, Transport and Planning, Councillor Angela Kandola, said: “Calling local businesses, public-sector organisations, voluntary or faith groups, we can help you to future-proof your workplace by adding electric vehicle charging points and facilities to make cycling to work easier.
“We really want local groups and businesses to take advantage of this scheme before it ends so we can help as many people as possible. It’s all done for you from end to end – all you have to do is fill in a simple application form with around seven questions and our helpful team are there to support you.”
LAC Conveyer Systems benefitted from a grant of £5,000. Lauren Cassidy, Head of Business Support, said: “The Workplace Travel Service team helped LAC Conveyor Systems discover available options and provided expert advice that proved invaluable in our decision to foster a greener, more responsible business model.
“Thanks to the grant, we were able to install several EV chargers at our workplace, which has enabled us to take another step towards sustainability. We are charging the way to a greener future, one charge at a time.”
Revenue and profit down at Eurocell
Revenue and profit have slipped at Eurocell, the manufacturer, distributor and recycler of window, door and roofline PVC products, according to half year results for the six months ending 30 June 2023.
Against a “challenging market backdrop, with particularly severe decline in new build housing,” first half profits were down “as expected.” Reported profit before tax sat at £3.5m, dropping from £15.7m in the first half of 2022.
Meanwhile the firm posted revenue of £184.4m, declining from £188.8m.With further deterioration in market conditions, Eurocell’s full year performance is now anticipated to be below previous expectations.
Darren Waters, Chief Executive of Eurocell plc, said: “Market conditions in H1 2023 became more challenging than we had anticipated, on the back of a sluggish new build housing market and lower RMI activity, with the CPA July update forecasting declines of 19% and 11% respectively in these sectors. Against this backdrop and an exceptionally strong comparative period, we delivered some resilience in the Group’s sales performance in the first half, with volumes down 6%, and improved cash flow.
“As expected, H1 profits were down on the prior period. Lower market volumes have resulted in an increasingly competitive environment and margin pressure in the branch network. First half profits were further impacted by recycling feedstock prices, which were significantly higher than H1 2022.
“With the decline in market volumes and a tough outlook for the balance of 2023 and 2024, we acted quickly to lower operating costs and focused on efficient working capital management. In addition, we continue to seek operational efficiencies, for profit and cash flow improvement, the benefits of which we should start to see next year.
“We anticipate that profits in H2 will benefit from lower input prices as well as the operational cost savings already secured. However, with another base rate increase implemented and the prospect of more to come further impacting upon consumer confidence, market conditions have deteriorated since the beginning of August, meaning that we now anticipate full year performance will be below our previous expectations.
“On becoming CEO in May, I initiated a review of our strategy, including the future size and shape of the branch network, customer proposition and other business structures, and I expect this will identify more opportunities for growth and efficiencies. In addition, our pipeline for new fabricator account wins remains positive, supported by a net reduction in UK capacity following the announcement that Duraflex intends to exit the market in September.
“Looking further ahead, the UK construction market continues to have attractive medium and long-term growth prospects, driven by the structural deficit in new build housing and an ageing housing stock that requires increased repair and maintenance. Overall, I believe the actions we are now taking leave the business well positioned to benefit from a recovery in our markets which will, over the medium-term, drive sustainable growth in shareholder value.”
Derby social enterprise shortlisted for national award
Derby-based Nimbus Disability is a finalist in the UK Social Enterprise Awards, recognising it as one of the country’s most innovative and impactful businesses.
Social enterprises are mission-led businesses that reinvest or donate their profits for social purposes. Nimbus Disability is a social enterprise that is run by disabled people for disabled people.
Its work to improve the lives of disabled people includes the development of the Access Card, which has been recognised with The Queen’s Award for Innovation, and is held by hundreds of thousands of people in the UK and beyond who register their accessibility requirements.
The Access Card is the first accessible scheme of its type in the world; offering a universal and consistent way of disabled people evidencing and communicating their access requirements to providers quickly and discreetly.
Powered by ‘NOS’, a bespoke software, the system translates its holder’s disability/impairment or access requirements into symbols, which ultimately means that, when booking online, it informs providers quickly and discreetly about the access requirements that individuals need. It has realised a simplistic way for disabled people to book online and protect those reasonable adjustments for those who require them.
The scheme has become a lifetime of opportunity for disabled people and a digital bridge to customers for business internationally – widely recognised at the majority of the UK’s leisure and tourism venues such as Buckingham Palace, the O2 Arena and Alton Towers as well as venues in the USA, Europe and New Zealand.
Nimbus Disability beat stiff competition to make the shortlist for the UK Social Enterprise Awards this year, which attracted more than 400 entries from all over the country. Awards recognise sector-leading excellence and innovation across a diverse range of criteria, and Nimbus Disability is a finalist in the Tech for Good: Technology Social Enterprise of the Year category.
Martin Austin MBE is Managing Director of Nimbus Disability. He said: “We are delighted that our work has been recognised in this way.
“Our innovative Access Card scheme is improving the lives of thousands of disabled people across the UK and across the globe – opening up the opportunity for them to visit and engage with events and destinations and enabling them to play a more participative role in society.”
Nimbus Disability will join other finalists and VIP guests at a prestigious awards ceremony in London’s iconic Roundhouse on Thursday 30 November, when the winners will be revealed.
Slowdown in businesses adopting green growth strategies amid cost pressures
Green growth activity in the East Midlands has fallen over the past year amid a cost-of-doing-business crisis – but has still more than doubled since 2015, new research shows.
A joint annual study by East Midlands Chamber and Derby Business School at the University of Derby found the proportion of businesses across Derbyshire, Leicestershire and Nottinghamshire that have made any income from environmentally-friendly goods and services dropped from 45% in 2022 to 36% in 2023.
Despite the drop, this still represents a significant increase on the 16% that reported they derived turnover from goods such as energy efficiency, waste recovery, and eco-food and drink products in 2015, as the business community has increasingly identified opportunities in the UK’s race to net zero.
In the face of conflicting messages from central Government about the net zero agenda, there was also a decline in the number of businesses that believe the policy environment is conducive to engagement in the green agenda – falling from 17% to 13% over the past 12 months.
Other key findings in the Green Growth Trends in the East Midlands 2023 study were a major distinction between large and micro businesses in pursuing green growth opportunities and investing in decarbonisation, while four in 10 businesses are not engaged at all in the low-carbon agenda.
The unique research provides the evidence base that informs East Midlands Chamber’s Sustainable East Midlands initiative, which was launched in 2020 to support businesses in engaging with the green agenda.
East Midlands Chamber director of policy and insight Chris Hobson said: “The drop-off in green growth engagement among East Midlands businesses over the past year can in part be attributed to the ongoing cost-of-doing-business crisis, in which firms have been hit by once-in-a-generation cost pressures across energy, fuel, raw materials and people.
“But this year’s findings have also identified that fewer companies believe the current policy landscape allows them to fully engage with green growth, perhaps the result of mixed messaging from different parts of Government over recent months around the importance of net zero policy.
“The big picture direction of travel, though, is clear. As net zero increasingly forms the bedrock of our national economic strategy the nearer we get to 2050, the more businesses will identify opportunities for growth that has a positive, rather than detrimental, impact on our environment.
“This is why we called on the Government to ‘grow our competitiveness the right way’ as one of the three overarching themes in our regional economic blueprint, A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond.
“Many barriers to engagement remain, however, so it is imperative our politicians understand that now is not the time to row back on the net zero and sustainability commitments we have made as a country.
“Long-term planning allows firms to grow sustainably and create opportunities for the UK to be world leaders in the products and processes that will drive global growth for decades to come.”
Other key findings from the research, which was based on responses from 368 businesses in Derbyshire, Leicestershire and Nottinghamshire as part of the Chamber’s Quarterly Economic Survey for Q2 2023, included:
· 68% of large businesses report they are actively pursuing green growth opportunities, compared with 31% of micro, 51% of small and 50% of medium-sized companies
· More than a third of organisations invested in decarbonisation initiatives over the past 12 months – increasing to seven in 10 among large companies, which lead the trend
· Manufacturers are investing 1.5-times more in decarbonisation initiatives than services companies
· There has been a three-fold increase in firms reporting up to half of their turnover is made from supplying green goods or services since 2015
· Four in 10 businesses have no turnover generated from green goods and services, a 5% increase from 2022
· The information gap is widening, with the proportion of respondents saying they did not feel well-informed about the support available for green growth rising from 33% to 36% in the past year
· The largest demands for skills development are in the areas of energy efficiency, business strategy, resource efficiency, environmental strategy and waste management.
Dr Polina Baranova, associate professor of strategy and sustainability at Derby Business School, co-authored the report with Dr Fred Paterson, the university’s lead for sustainable business and clean growth.
She said: “This analysis could indicate that the green gains we experienced during the pandemic are starting to fizzle out and businesses are reverting to the conventional, non-green operations and strategies.
“It illustrates the fragility of green growth in the face of economic adversities and how companies of different sizes and sectors are affected differently.
“Net zero does not just make environmental sense, but good business sense, and we now need to see leadership from Government to reverse the slowdown in progress if the UK is to be at the forefront globally of the new green economy.”
Private equity firm invests in Nottingham-based business messaging provider
ECI Partners, the growth-focused mid-market private equity firm, has invested in Commify, the Nottingham business messaging solutions firm.
The deal, valued at €300 million, provides a full realisation for Hg, an investor in European and transatlantic software and services businesses, that has backed Commify’s transformation since 2016.
Commify’s integrated solutions enable over 45,000 customers to communicate with their customers and staff, sending over 5 billion messages per year, covering a range of business critical use cases from appointment confirmations to emergency alerts, via a range of channels including SMS, WhatsApp, RCS, email and voice.
The business is a long-established leader in the European Local Enterprise segment, complemented by fast-growing operations in the US and Australia. It operates at global scale, taken to market locally in each country via both its global solutions brand Esendex and local self-serve brands.
Commify has completed 16 complementary acquisitions in the last decade, and the investment from ECI will support further acquisitions across both existing and new countries, as well as to accelerate future platform and product development.
Richard Hanscott, CEO, Commify, said: “With Hg’s backing in recent years we have built a highly differentiated market-leading business, with material investment in both M&A and our business messaging platform. ECI’s ownership will allow us to accelerate our investment in new products and services, including our growing range of messaging channels such as WhatsApp.
“Alongside this we are excited to continue to drive expansion through further acquisitions in both existing and new geographies. Commify is perfectly positioned to continue to deliver high quality, sustainable growth. This is a very exciting time for Commify, our customers and our employees as we look forward to further strong growth supported by ECI’s significant investment.”
Paul McCreadie, partner at ECI, said: “Commify has built a differentiated position in an exciting global market, and with messaging becoming the number one customer engagement channel, there is a clear and compelling growth opportunity across Europe, the US and Australia. We’re delighted to be partnering with Richard and the Commify team to support them on further organic and acquisitive growth for the next stage of their journey.”
Nick Jordan, partner at Hg, said: “The investment from ECI is a big milestone for the management and staff at Commify. We have been incredibly proud to support the business as it expanded into multiple new European geographies and the US, more than doubling the size of business in doing so. We wish the team well for the future, in partnership with ECI.”
New ‘green’ school gets the go-ahead
Plans to build Leicestershire’s second carbon-neutral primary school have been given the green light.
The £9.3m primary will provide school places for children living in the new 924 home Airfield Farm development in Market Harborough.
The eco-friendly 210-place school will include teaching spaces for pupils with special educational needs, a multi-use play area, nature areas and parking and drop-off spaces. Bat and bird boxes will be installed to encourage wildlife.
The school is being built on behalf of Leicestershire County Council by contractor Willmott Dixon with what’s known as section 106 funding from developers William Davis and Taylor Wimpey and money from the Government’s Basic Need Funding for schools
Technology such as air source heat pumps and photovoltaic panels to provide power, as well as careful consideration of building materials, will help the school become ‘zero-carbon’.
Councillor Deborah Taylor, cabinet member for children and families, said: “This is great news! This school will be a welcome addition to this new community, providing much-needed school places and a lovely setting for learning.
“We are committed to addressing climate change and it’s schemes like these that will support Leicestershire becoming a net zero county by 2045. We look forward to seeing this new school taking shape.”
The school has been built in such a way that it could be extended to take up to 420 pupils in the future if needed.
An academy trust to run it is due to be announced this autumn and a phased opening is planned from 2024 starting with reception children, with the school reaching capacity by 2030.
The build is hot on the heels of the council’s first ‘zero-carbon’ school, Hollycroft Primary in Normandy Way, Hinckley, which is set to welcome its first pupils this autumn. Also built by Willmott Dixon, it will be run by the OWLS Academy Trust.
Silverstone clean-tech business to upcycle bin lorries to electric power
Silverstone Park clean-tech business Lunaz has been appointed to ‘upcycle’ bin lorries to electric power for national operator Biffa as well as Buckinghamshire Council.
The first truck converted from diesel to electric inside Lunaz’s 200,000 sq ft Silverstone Park premises will be delivered to the Buckinghamshire authority this autumn ahead of its wider fleet undergoing conversion in 2024.
Lunaz’s founder and CEO David Lorenz said: “Lunaz is proud to unlock the power of up-cycling to provide local authorities and waste management companies with electric refuse trucks that represent a dramatically better outcome for both the planet and the taxpayer.
“As a Silverstone based technology company, we are delighted to announce the first phase of our large-scale volume commitment to supplying the UK’s local authorities with clean-air and up-cycled refuse trucks.”
Gareth Williams, Buckinghamshire Council’s Cabinet Member for Climate Change and Environment, said: “This is a very exciting moment for Buckinghamshire Council and a big milestone in our journey to cutting our carbon emissions and meeting our climate change strategy ambitions.
“It marks the first step in our desire to run a more sustainable fleet of vehicles by using a renewable energy source and has multiple additional benefits. These include improving air quality and saving money both in terms of cheaper daily running costs, plus the retention of more than 80 per cent of the embedded carbon versus scrapping an existing vehicle and replacing with new.
“In this regard, our partnership with Lunaz represents the best possible outcome for both the planet and the taxpayer. It also reflects our commitment as a council to supporting local business and employment in the area.”
Meanwhile, Lunaz has committed to supporting the transition of Biffa’s existing diesel refuse trucks over an initial seven-year period to clean-air electric powertrains through its proprietary upcycling and electrification process and technology.
Together the companies are working together to create an innovative solution for the transition of large vehicles to EV to reduce emissions and tackle global climate change.
This multi-year production programme is expected to result in growing numbers of vehicles delivered to Biffa over the mid-term, starting later this year.
It is estimated that an initial order of up to ten 26-tonne upcycled electric vehicle (UEV) refuse trucks will save up to 210 tonnes in embedded carbon.
Biffa’s Maxine Mayhew, Chief Operating Officer, Collection and Specialist Services, said: “As the UK’s leading sustainable waste management company we are committed to enabling the circular economy while reducing emissions and carbon expenditure in every aspect of our business.
“This long-term partnership with Lunaz is a major pillar in our collective effort to achieve our 2030 commitments.
“We are proud to work with an innovative UK company to realise the transformational power of upcycling to save thousands of tonnes of embedded carbon in our transition to clean-air refuse truck fleets.”
David Lorenz added: “Biffa has led from the front in pioneering more sustainable waste management practices here in the UK. We are proud to assist in delivering Biffa’s sustained commitment to leading the waste management industry’s transition to net zero.
“By finding new life for diesel-emitting vehicles, we are delighted to stand together with a leading UK company in creating the potential to reduce global emissions at scale.”
Housing Growth Partnership invests £18m of equity to fund 557 new Midlands homes
Housing Growth Partnership (HGP), the Lloyds-backed equity investor in the UK Living sector, has invested £17.7 million of equity across seven housing schemes in the Midlands since the start of 2023.
HGP’s investment, alongside a diverse mix of established, local housebuilders, will enable the accelerated delivery of 557 much-needed for-sale and for-rent apartments and houses across the undersupplied Midlands region.
The schemes, which are scheduled to complete between Q3 2024 and Q4 2025, comprise:
- A sustainability-led retrofitting of the former St. Mary’s Hospital in Melton Mowbray, Leicestershire, to deliver 41 houses and four apartments, alongside Snowdown Homes
- 37 and 166 apartments respectively in Birmingham city centre, with Rainier Developments and 10M
- In Leicester city centre, 171 Build-to-Rent apartments, alongside Monk Estates
- 21 homes in Sutton, Bedfordshire, representing a second transaction with Cora Homes. The scheme will be partly delivered using Modern Methods of Construction, reducing carbon emissions and accelerating construction
- 47 new homes in Tansley Gardens, alongside Stancliffe Homes
- Land purchase for 70 new homes in Derbyshire, in partnership with Cora Homes
