Construction completes on new Loughborough apartment development

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Construction completes on new Loughborough apartment development
Horsnall Holdings has completed the construction of The Wharf, a 55-unit scheme in Waterside Village, Loughborough, with support from funding from Paragon Bank’s Development Finance division. Paragon provided an £8.3 million finance package in a deal led by senior relationship director Simon Dekker, with support from senior portfolio manager Craig Seaborne. The Wharf consists of 55 one, two and three-bedroom flats with facilities including a fitness studio, private rooftop garden, co-working space, canalside garden and concierge service. All units within the scheme are fully sold out. The development forms part of the three-phase scheme, with all new apartment buildings, funded by Paragon Bank. Waterside Village developments include award-winning, The Gate, repurposed 1800s hosiery factory, The Mill, and the final installment, The Wharf. Mark Horsnall, director of Horsnall Holdings, said: “We are delighted the final stage of Waterside Village has concluded with The Wharf. The project signifies the completion of the stunning three-phase apartment development in Loughborough. “Our strong relationship with Paragon continues to grow, with the completion of The Wharf. Not only have they funded all three phases of Waterside Village, but this completion is also our seventh deal with Paragon. Working with Simon and his team is always a delight and they are a crucial part of delivering these fantastic facilities.” Simon Dekker, Paragon Bank Development Finance relationship manager, said: “Congratulations to the team at Horsnall Holdings for completing the final development in this incredible scheme. We are delighted to be there from the very beginning and to see their vision come to fruition. “The apartments are superb homes and facilities with each build complementing the other as part of the Waterside Village. We enjoy working with Mark and his team at Horsnall Holdings and are thrilled with their success.”

Nominate exceptional businesses for Developer of the Year at the East Midlands Bricks Awards 2023

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Nominate exceptional businesses for Developer of the Year at the East Midlands Bricks Awards 2023
With nominations OPEN until Thursday 31 August for the annual East Midlands Bricks Awards, shining a light on the region’s property and construction industry, 10 categories are available to enter, offering a prime forum to showcase outstanding businesses, teams and projects. One category at the prestigious event is Developer of the Year, which can be entered here. The winner of this category will be the developer that has truly pushed the limit over the last 12 months. Their scheme(s) will have shown to not only be a success, but that there was true demand for them. The winning developer will have displayed courage in a tough market to deliver award winning results. There is no size limit, but schemes must have been completed over the last 12 months. Last year the award was won by HBD. Judges said: “HBD has demonstrated a commitment to creating places in the East Midlands with purpose. Their work at Markham Vale, Nottingham’s Power Park and plans for TMS in Leicester are driving regeneration and delivering potential for inward investment and job creation across our region.” Runners up were Hockley Developments and St James Securities. With this year’s Developer of the Year award once again sponsored by Ward, Donald Ward, Operations Director at Ward, said: “Each year the Bricks Awards get better and better. The quality of entries gets even tougher to judge. It’s a real celebration of the achievements of businesses in the building and construction sector across the East Midlands. We’re pleased to be sponsoring the Developer of the Year award again this year and look forward to getting involved.”

Submit your nominations for Developer of the Year here before entries close on Thursday 31 August.

Guests network at the East Midlands Bricks Awards 2022
Winners will be revealed at a glittering awards ceremony on Thursday 28 September, at the Trent Bridge Cricket Ground – an evening also offering an opportunity to establish new connections with property and construction professionals from across the region. Other award categories open for entry include: Most Active Estate Agent, Commercial Development of the Year, Responsible Business of the Year, Residential Development of the Year, Contractor of the Year, Deal of the Year, Architects of the Year, Excellence in Design, and Sustainable Development of the Year. All entry forms can be accessed here. The Overall Winner award will also be presented at the event. This award cannot be entered, with the winner selected from those nominated. The Overall Winner of the East Midlands Bricks Awards 2023 will also receive a year of marketing/publicity worth £20,000.

Book your tickets now

Tickets can now be booked for the East Midlands Bricks Awards 2023 – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:                                                             To be held at:

Company insolvencies up 40 per cent year on year

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Company insolvencies up 40 per cent year on year
The number of registered company insolvencies in May 2023 was 2,552, 40% higher than in the same month in the previous year (1,825 in May 2022). This was higher than levels seen while the Government support measures were in place in response to the coronavirus (COVID-19) pandemic and also higher than pre-pandemic numbers. There were 189 compulsory liquidations in May 2023, 34% higher than in May 2022. Numbers of compulsory liquidations have increased from historical lows seen during the coronavirus pandemic, partly as a result of an increase in winding-up petitions presented by HMRC. In May 2023 there were 2,181 Creditors’ Voluntary Liquidations (CVLs), 38% higher than in May 2022. Numbers of administrations and Company Voluntary Arrangements (CVAs) were higher than in May 2022. The numbers provided in this publication are not seasonally adjusted and changes between consecutive months may not indicate overall trends. Therefore, in this publication Forbes Burton compare to the same calendar month in the previous year. The number of registered company insolvencies in May 2023 was higher than in the same month last year, driven by a higher number of CVLs. England and Wales, May 2019 to May 2023, not seasonally adjusted.
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This statistical release presents the numbers of CVLs, administrations, CVAs and receivership appointments based on their registration date at Companies House, and therefore numbers reflect company insolvency registrations rather than insolvency procedure start dates. Compulsory liquidation data are sourced from the Insolvency Service and provide an accurate measure of the number of new cases in each month. Data for the latest month were extracted from a live system five working days after month end and therefore figures are provisional. Of the 2,552 registered company insolvencies in May 2023:
  • There were 2,181 CVLs, which is 38% higher than in May 2022;
  • 189 were compulsory liquidations, which is 34% higher than May 2022;
  • 31 were CVAs, which is 121% higher than May 2022;
  • There were 151 administrations, which is 80% higher than May 2022;
  • There were no receivership appointments.
The chart above shows the historical trend of company insolvencies covering the past four years. Up from pre-pandemic levels From the start of the coronavirus (COVID-19) pandemic until mid-2021, overall numbers of company were low when compared with pre-pandemic levels. This is likely to have been partly driven by government measures put in place to support businesses and individuals during this time. Company insolvency numbers have now returned to and exceeded pre-pandemic levels. Between 26 June 2020 and 31 May 2023, in England & Wales, 44 moratoriums were obtained and 21 companies had a restructuring plan registered at Companies House. These two procedures were created by the Corporate Insolvency and Governance Act 2020. Need help navigating the rough seas we’re facing right now? Give Forbes Burton a call on 0800 975 0380. This article contains public sector information licensed under the Open Government Licence v3.0.

£3.5m of funding delivered to East Midlands life sciences companies

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£3.5m of funding delivered to East Midlands life sciences companies
Organisations came together to join Medilink Midlands in celebrating the success delivered under the three ERDF funded programmes, INSTILS, SoLSTICE and ACTIS and to find out what is next for the region. Interim Chief Executive, Melanie Davidson, advised that a total of £3.5m in grants was achieved. This funding was able to leverage investment equating to £47 of private investment for every £1 of public funding. Alongside the funding distributed, Medilink Midlands’ Advisers delivered over 8,000 hours of innovation support to regional life sciences organisations. The business support projects have had a significant impact on the economic growth of the life sciences sector, delivering funding, support, advice, and networking opportunities to companies during the eight years the projects have been in operation. Melanie Davidson explains: “The funding has been instrumental in the creation of over 208 high level jobs and we’ve been able to support 391 businesses on a one-to-one basis, with a total of 66 new enterprises created.” Independent assessments of the projects also demonstrated an impressive 100 percent satisfaction rate from organisations who received support. The projects also involved collaboration with 79 universities and the delivery of 180 events. Success stories from East Midlands businesses that have benefited from the funding include BlueSkeye AI, a company that has developed facial recognition AI to be able to detect depression; Neurotherapeutics, creators of a stimulation and monitoring device aimed at alleviating the symptoms of Tourette’s; Blum Health, which offers bespoke specialist recruitment solutions throughout the healthcare system, and JT Rehab Limited, inventors of the S-Press, which allows patients the ability to continue with their physiotherapy at home. Paul Cable, CEO of Neurotherapeutics (Neupulse) Limited, creators of a medical device aimed at helping sufferers of Tourette’s manage their tics, comments on the company’s progress: “We carried out a clinical trial that started in March 2022 and completed in March 2023 and the results of that trial have been absolutely phenomenal.” He adds: “Short term, our goal is to get this device out there. There are so many people who want this device. It will really make a big difference to their lives.” Other East Midlands-based funding recipients included iethico, a business that has created a technological solution to the supply and distribution of medicine shortages; MumPod, which provides innovative, safe and convenient spaces to employers and service providers supporting pregnant and breastfeeding parents; Spirit Health, which works with the NHS to deliver a new way of delivering healthcare to those in the community, and VUIT, a company providing data analytics to healthcare providers to allow better understanding and more targeted practice of health in the community. Melanie added: “With the established skills, knowledge, expertise, networking and connections in place, Medilink Midlands will continue to deliver sector support whilst representing the Voice of the Industry for Medtech and life science organisations, and although the ERDF funding has now concluded, we are delighted to be able to announce the launch of MeTAP, a new business support programme for businesses based in the East Midlands.” MeTAP aims to assist start-ups with targeted support streams, including the Innovation Accelerator Programme. Working in partnership with the University of Nottingham, MeTAP aims to support companies to accelerate innovation and provide the right skills and tools to enable companies to increase their competitive advantage.

G F Tomlinson partners with Austrian training provider for international skills exchange

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G F Tomlinson partners with Austrian training provider for international skills exchange

Midlands contractor, G F Tomlinson, has extended its reach internationally by linking up with an Austrian training programme, known as ‘The Dual Academy’, to welcome international student Konstantin Pata for a four week internship, to learn about UK construction methods compared to those back home in Austria.

G F Tomlinson were approached via a mutual contact in the UK to see if they could help Konstantin fulfil the requirements of his training programme in the UK.

Konstantin is a 21-year-old student who works for Austrian construction company, Filzmaier Dach Fassade GMBH, who are sponsoring and supporting his apprenticeship, alongside The Dual Academy.

This unique partnership between construction companies from different countries will provide an insight and transferable knowledge for both parties, giving Konstantin first-hand experience of the UK construction process, whilst also enabling the G F Tomlinson team to learn more about Austrian construction methods.

G F Tomlinson developed an enriching placement plan which enabled Konstantin to be both office-based and in an on-site environment, working closely alongside senior contracts manager, Paul Thornewill, and the G F Tomlinson team at Foston Park in Derbyshire – where work has recently started to deliver a 127,000 sq ft warehouse for logistics company Ascott Transport Limited (ATL).

On his placement, Konstantin said: “I’m excited to not only be working abroad but also to be working alongside a well-respected regional contractor such as G F Tomlinson, with over 130 years of experience to call upon. This hands-on experience in the UK within the construction sector will be valuable learning to help me to successfully complete my apprenticeship.”

Andy Sewards, chairman and Managing Director of G F Tomlinson, said: “We were only too pleased to step in and assist Konstantin with his quest for vital construction experience in the UK, following a call from a mutual contact.

“It is a very unique partnership that both parties can benefit from, and it is fantastic to get to know Konstantin and work closely with The Dual Academy enabling us to mutually educate our skilled teams in international construction best practices.

“We’ve provided apprenticeships and work experience placements for years for our own local young people, and we are due to receive five new starters this September. We are incredibly proud that our remit is now extending across international borders, providing opportunities for oversees students and our own teams to collaborate jointly to improve construction methods in the future.”

Affinity lands top recognition as it continues to back UK SMEs

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Affinity lands top recognition as it continues to back UK SMEs

Nottinghamshire’s Affinity Asset Finance has been officially recognised as one of the top volume performers in the UK by one of the country’s largest asset finance businesses.

Affinity has been crowned Top Hard Asset Broker of the Year by Novuna Business Finance, a leading financial services company, which annually awards its brokers across the Midlands, South East, South West and the North regions.

Affinity has a long and successful relationship with Novuna Business Finance, which is part of its extensive panel of funders, regularly introducing and completing business funding for the firm.

Neil Kimberley, director at Affinity Asset Finance, said: “We’re thrilled to be recognised by such a renowned name as Novuna Business Finance and we’re incredibly proud of the relationship we’ve cultivated with the company.

“This award recognises the volumes of business we introduce, as well as very high acceptance and conversion rates for our introduced business over the year.

“We’ve now proven that Affinity is the top volume performer across the Midlands. We can boast £6m+ of brokered finance through Novuna Business Finance across a 12 month average – and this figure is growing.”

Novuna Business Finance is amongst the UK’s top five largest asset finance providers, powering the growth aspirations of SMEs and larger corporations across multiple sectors through bespoke, flexible finance solutions.

It was the first asset finance provider in the UK to be accredited to offer the British Business Bank’s CBILS and played a prominent part in helping businesses navigate the pandemic.

Matthew White, sales manager at Novuna Business Finance, said: “Affinity have been a key funding partner of Novuna for many years. We work exceptionally well together and understand how each other’s businesses operate.

“Knowing where to place deals and getting everything right, first time, is key to a good broker / funder relationship. Neil and Tom deserve to be recognised with this award. Thank you both for your continued support.”

70 new houses set for North Wingfield

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70 new houses set for North Wingfield
70 new homes are set to be built off Whiteleas Avenue in North Wingfield, following a deal between Rykneld Homes and Countryside Partnerships. On land owned by North East Derbyshire District Council, and formerly consisting of post-war non-traditional housing, Countryside Partnerships will deliver a mix of two- and three-bedroom homes, as well as four-bedroom homes to address the need for larger homes in the area. The new development will include homes for affordable rent along with homes for sale. All 70 homes will be built for North East Derbyshire District Council and managed by Rykneld Homes. The agreement with Countryside Partnerships was facilitated by Efficiency North’s EN:Procure Framework, a not-for-profit consortium serving the construction procurement needs of the social housing landlord community. Using this route enabled Rykneld Homes to work directly with Countryside Partnerships to develop the proposals in collaboration. As well as delivering new homes for the local community, Countryside Partnerships will also provide six apprenticeship places over the course of the build. The development will also deliver a number of improvements to the local area, including upgraded play facilities at Alice’s View and Blacks Lane play areas, £165,000 to fund improved education facilities at North Wingfield Primary and Nursery School and Tupton Hall School, and over £28,000 for the NHS Chesterfield Royal Hospital. Greg Wood, Land and Development Director at Countryside Partnerships South East Midlands, said: “Working in partnership to unlock brownfield sites and create high-quality homes of a mix of tenures where communities can thrive is what we’re all about. “So it’s great to be working with North East Derbyshire District Council and Rykneld Homes on this regeneration project that will provide much-needed new homes for local people, while also contributing to local services.” Cllr Nigel Barker, Leader of the Council with responsibility for Housing, said: “We are looking forward to working with Countryside to further regenerate the area of Whiteleas Avenue, North Wingfield, bringing forward much needed homes for our local communities. “We have listened to our communities who have told us that they want quality affordable homes in the district and this scheme, which includes 48 homes for affordable rent, demonstrates our commitment to do so.”

Logistics supplier expands into Alfreton warehouse facility

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Logistics supplier expands into Alfreton warehouse facility
Ascott Transport Limited (ATL), a provider of complete solutions in the logistics and warehousing industry, has expanded into a new warehouse in Alfreton. This addition to the business follows an increase in demand for ATL’s services, which has enabled the company to expand on their existing 1.2 million sq ft warehousing footprint. The new facility comprises of 149,500 sq ft and will operate as a further satellite site which services ATL’s existing client base. The facility will provide high bay warehousing and a centralised location to service all of the UK. As the warehouse is within close proximity of Junction 28 on the M1, the new warehouse has also generated employment opportunities. Pete Ascott, Managing Director of ATL, says: “As a business, we have seen significant demand for our services, and I am delighted that our innovative thinking, matched with our industry leading technology, is helping fuel our ambitions to further grow the business. “The additional warehouse further proves our commitment to invest in expansion and being a Derby based business for over 60 years, it is great to create employment opportunities in the local area.”

PwC Midlands transaction and lead advisory teams deliver £2.1bn of deals

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PwC Midlands transaction and lead advisory teams deliver £2.1bn of deals

PwC’s transaction services and lead advisory teams in the Midlands completed 19 deals with a total value in excess of £2bn in FY22/23.

Simon White, deals partner and Midlands private business & private equity leader, at PwC, said: “We have seen a good level of activity over the last 12 months, despite the economic and geopolitical challenges that have been impacting the market.

“ESG, technology and transformation continue to be the focus areas for our clients and the team in the Midlands has a variety of experts able to deliver these services. As we move into the new financial year, activity remains buoyant and we’re seeing green shoots of economic recovery.

“Sectors including technology, healthcare, industrial products, business services and energy & infrastructure were leading in FY22/23 and we expect to see activity continue into FY23/24.”

The TMT sector in particular continued to see high activity levels across both corporate and private equity transactions. Key deals included Uniphore’s acquisition of Red Box Recorders, Node4 investing in Risual and Bowmark Capital investing in Littlefish.

Deals in the industrials and business services sector also remained strong, particularly in the infrastructure services sector where PwC saw a cluster of transactions including H.I.G Capital Partners’ acquisition of CPS Building Services, PEXA’s acquisition of Optima Legal Services and Arcus Infrastructure Partners’ acquisition of Workdry International Group Limited. More recently PwC lead advisory and transactions combined to advise Augean on its acquisition of Future Industrial Services from NorthEdge Capital and advised on another three deals in the waste and circular economy segment.

To support the pipeline of activity, PwC has recently announced further investment into the deals team in the Midlands, with 44 promotions taking place in July, including six directors and two new partner admissions – Rebecca Elnaugh and Sally Graham.

Rebecca Elnaugh, deals partner, joined PwC in 2021 and has specialised in valuations for 15 years. Rebecca focuses on mid-market private equity clients, working with them to enhance value through the design, implementation and valuation of management incentive plans.

Sally Graham, deals partner, joined PwC in 2006 from university and is a specialist in PwC’s Sale and Purchase Agreement (SPA). Sally focuses on helping private equity and corporate clients across a range of sectors and deal sizes to maximise and protect value through their M&A transaction pricing mechanisms.

East Midlands care provider opens new home for people with brain injuries thanks to £1.6m funding

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East Midlands care provider opens new home for people with brain injuries thanks to £1.6m funding
A specialist care provider for people with an Acquired Brain Injury (ABI) has opened its third residential home thanks to seven-figure funding from Unity Trust Bank. Lucy Fallon and Paul Constable, who established Ariya Neuro in 2015 to address a national shortage in suitable ABI support, used the £1.6m funding to buy half an acre of land in Chesterfield, Derbyshire to build a bespoke eight-bed property plus two adjoining bungalows. The development, called Elizabeth House, offers living accommodation, a gym and therapy rooms as well as therapeutic outdoor space including accessible gardens, wildlife pond and some chickens. Lucy said: “People with ABI were leading normal lives before they suffered a significant injury, such as an accident or a stroke, and quite often they’re sent home from hospital without support or put into care homes which don’t suit their needs. We offer high quality care and effective rehabilitation to help people get their life back. “It’s important that people are in a nice place while they recover, rather than feeling like they’re in an institution. The combination of an exceptionally kind and therapeutic atmosphere, highly skilled therapists and a conducive environment, ensure people can thrive.” Lucy added: “We approached Unity for funding because they support the healthcare sector and there was a synergy in our value-base. We spoke to Mike Wicks, who is now our relationship manager. He was personable and genuinely interested in what we do and we knew we could work with him.” Michael Wicks, relationship manager at Unity Trust Bank, said: “We support organisations that share our values and Ariya Neuro is a perfect example of this. “The fact that Lucy and Paul have been awarded the highest CQC rating in terms of the care they provide, and the highest IIP rating in terms of how they support their staff, speaks volumes about the passion they have for making a positive difference to people’s lives. “Elizabeth House is an impressive addition to their portfolio and we were delighted to support the project.”
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