Mather Jamie advise on sale of distribution hub and wins CoStar award
Specialist land development and property consultancy Mather Jamie has advised on the sale of a 674,000-square-foot distribution hub in Melton Mowbray.
The sale was challenging given its size in a small market town and the fact the owner wanted to vacate a property it no longer required.
Aware that Urban Logistics REIT had raised capital to buy logistics properties that provided added value, Alex Reid from Mather Jamie brokered a deal in which the vendor would remain in the property in 2023 in order to fulfil ongoing commitments, whilst also providing the vendor capital and an early exit and the purchaser income during the period required to market the distribution hub to a tenant. The property sold for £40.7 million, a 6.67% yield.
The space will be now marketed by Mather Jamie and M1, which advised Urban Logistics.
Commenting on the project, Alex Reid, head of commercial property at Mather Jamie, said: “By arranging the short lease the vendor was given time to fulfil commitments and buyer was income during the marketing phase.”
Fred Burstal, senior property manager at Urban Logistics REIT, added: “The complexity of the deal has resulted in both companies winning a CoStar Impact Award which highlight the commercial real estate transactions and projects that have transformed their markets over the past year.”
The winners of CoStar awards are chosen by independent panels of industry professionals who work in the markets they judge. CoStar Group, Inc., is the leading provider of commercial real estate information, analytics and online marketplaces. The Awards, therefore, honour the very best agents in commercial real estate.
One of the judges, Ian Dunckley, development director for Tungsten Properties, said: “72 acres [in] Melton Mowbray with 674,000 square feet of existing buildings provided a challenging sale for Mather Jamie in a small market town. It is a big investment in this East Midlands market town and allows Urban Logistics to masterplan and develop over a number of years.”
Acquisition sees Leicester-based WBR Group expand presence into London
WBR Group (WBR) has acquired Wimbledon-based Bespoke Corporate Pensions Limited (BCPL) for an undisclosed sum. Based in Leicester, WBR Group is the UK’s largest independent provider of SSAS services and tax experts.
BCPL was founded by Eddie Kingsley 28 years ago and has over 100 SSAS and group defined benefits schemes and £200m in assets under administration. It is a boutique SSAS administrator that is a service led business with very loyal clients that have grown over time. It provides high end SSAS services and is an ideal fit for WBR Group, following closely on the acquisition of Rowanmoor’s book of 3,500 SSASs.
Tom Moore, CEO of WBR Group, said: “We have made no secret that we are acquisitive and have shown how we can successfully integrate these businesses. This is our third acquisition and follows the purchase of the James Hay SSAS book in March 2021 and Rowanmoor’s SSAS book in 2023.
“The acquisition of BCPL is a great fit for us as it is rare that you have the opportunity to acquire such a loyal group of clients and a quality book of business. This will be our first London presence and is an important part of our growth strategy. We look forward to welcoming the team to WBR Group.”
Eddie Kingsley, CEO of BCPL, said: “So much has impressed me about WBR as I have got to know them. I see shared professional values, technical expertise, commercial know-how, strong working partnerships with clients and fair dealing. I know that I will be joining a team of colleagues whose professional calibre is of the very highest order.
“I see a firm whose financial strength is robust. I am immensely proud of the business that we have created at BCPL, but I know that we can do more and to do that we needed to become part of a larger organisation with the same client centric focus and shared professional values.”
Ringrose Law announces new Managing Director
Ringrose Law has appointed Ryan Clarke as its new Managing Director.
Ryan has worked with the firm as finance director since 2019. He has played a key role in the operations and management of Ringrose Law during this period and has already made significant changes to the running of the firm.
Ryan has nearly fifteen years of experience in senior financial and management roles and has the perfect mix of commercial, strategic and client-focused experience to bring to the role.
John Knight, senior director, says: “We are delighted to announce Ryan’s new position. Ryan has always been an integral part of the management team and a key influencer in delivering change within the organisation. The blend of his personality and character makes us a compatible and formidable team.
“He has a wealth of expertise and we will support him with this new role as we continue to grow and excel at delivering legal services across Lincolnshire and the East Midlands.”
Ryan Clarke says: “I am really looking forward to the challenge of leading Ringrose as it has lots of potential to make a bigger impact locally. The firm does some fantastic work in the region, and we have a strong platform in which to expand that offering and build for the future. We have great staff here and it’s an exciting time to be part of the business as we look to grow.”
Ryan will continue to work alongside the existing directors of the firm which includes John Knight, David Heath, Nerina Farmer, Sarah Jackson and most recently appointed director Richard Teare.
University of Leicester establishes new independent investment company
The University of Leicester is one of eight research intensive universities in the Midlands to establish a new investment company to accelerate the commercialisation of university spinouts and early-stage IP rich businesses in the region.
Midlands Mindforge Limited has been co-founded by Aston University, University of Birmingham, Cranfield University, Keele University, University of Leicester, Loughborough University, University of Nottingham and University of Warwick, collectively Midlands Innovation.
This ambitious, patient capital investment company plans to raise up to £250 million from strategic corporate partners, institutional investors and qualifying individuals. It aims to transform ground-breaking science and technology into successful businesses with real-world impact.
Midlands Mindforge will help to address the significant funding deficit for early-stage technology businesses in the region. Through the combination of additional capital and company-building skills, Midlands Mindforge will lay the foundations of a more vibrant ecosystem for emerging science-backed companies in areas such as Clean Technology, AI and Computational Science, Life Sciences and Health Tech.
Professor Philip Baker, pro vice-chancellor for Research and Enterprise, said: “Leicestershire is a dynamic place to start and grow a business. At the University of Leicester we are nurturing staff and student start-ups and seeking to attract businesses to the county across a wide range of opportunities – from health to space to heritage.
“This bold and ambitious initiative led by the Midlands Innovation universities has the potential to help close the investment gap, supporting our region to reach its true potential for sustainable economic growth – by providing our businesses with the equity they need to fulfil their potential. Midlands Mindforge will help to further fast-track commercialisation of research ideas, creating a more resilient economy and playing an important role in growing investment in our city and county.
“The Midlands has one of the largest research communities in the UK with more than 14,500 academics who have a strong track record collaborating on innovative research ideas that turn spinouts into successful businesses.
“This new company creates an ecosystem to better support our research entrepreneurs and encourage innovation. By cultivating an environment where post graduate students and researchers with commercial ideas can benefit from early access to investment, we can create opportunities for our people, place and partnership to flourish.
“Midlands Mindforge will allow our universities to scale-up their research and enterprise activity. It is a catalyst for building ground-breaking businesses that help to boost economic growth, create highly-skilled jobs and support the UK’s bid to be a global science and technology superpower.”
Collectively, the eight founding universities have the most post-graduate students, the highest levels of annual income, more research disclosures and patents generated per unit of research spend in the last three years, in comparison to any other UK university grouping.
Minister of State for Science, Research and Innovation George Freeman MP said: “Commercialising UK science and technology for global industrial adoption has never been more urgent – for both the UK economy and the global resource challenges facing us. The Midlands Innovation universities are driving a new era of innovation from robotics and advanced manufacturing to life science and autonomous vehicles and much more.
“As we in Government increase UK public R&D to a record £20 billion a year, the key is private finance backing spinouts and scale-ups. The Midlands is rapidly becoming a world class UK cluster of excellence and Midlands Mindforge will play a key role in bringing global investors to help back world class companies.”
Chairman of the Midlands Engine Partnership, Sir John Peace, said: “The Midlands has always been associated with exceptional invention and creativity, but has long experienced significant underinvestment and consequently productivity levels have lagged behind the rest of the UK.
“This bold and ambitious initiative led by the Midlands Innovation universities has the potential to help close the investment gap, supporting our region to reach its true potential for sustainable economic growth.
“Midlands Mindforge will help to further fast-track commercialisation of research ideas, creating a more resilient economy and playing an important role in levelling up the Midlands.”
Andy Street, Mayor of the West Midlands, said: “A key part of my mayoral mission is to drive our regional recovery forward and help generate the high-quality jobs of the future in order to improve quality of life for local people. This exciting new investment vehicle will very much support that mission – planting the seeds for long-term sustainable economic growth here in the West Midlands.
“Many brilliant ideas and top businesses have spun out from Midlands universities and this new venture will help us to advance that agenda and retain more of our innovative success stories within our region.
“Together we can better nurture the enterprising talent on our doorstep and this new endeavour creates a wonderful opportunity to do just that.”
Major milestone reached in development of Rolls-Royce SMR technology
Rolls-Royce SMR has progressed to Step 2 of the Generic Design Assessment with successful completion of the first step in the assessment by the UK’s independent nuclear regulators.
Reaching this significant milestone puts the Rolls-Royce SMR significantly ahead of other designs in securing consent for a Small Modular Reactor to operate in the UK. Rolls-Royce SMR’s unique ‘factory-built’ power plant can generate 470MW of low-carbon electricity – enough to power a million homes for at least 60 years.
Safety & Regulatory Affairs Director Helena Perry, said: “This is a huge stride forward for our project and, through the independent scrutiny of our regulators, further increases confidence in the viability of the Rolls-Royce SMR design.
“Rolls-Royce SMR has unmatched experience in GDA, international licensing and permitting. We are using all the knowledge and learning from our uniquely skilled team to move at pace through the GDA process – bringing us closer to our vision of providing clean, affordable energy for all and providing a British solution to a global energy crisis.”
Step 2 is the fundamental assessment stage of the GDA where the detailed technical assessment by the regulators – the Office for Nuclear Regulation, Environment Agency and Natural Resources Wales – begins in earnest.
To ensure the design meets the highest standards of safety, security, safeguards and environmental protection, Rolls-Royce SMR has launched a dedicated website where people can ‘have their say’ on the Rolls-Royce SMR design. Key documents will be published and any comments or feedback will be incorporated into the regulatory process.
RSK acquires Lincolnshire electrical specialist Hawkins Electrical
A company providing a specialist nationwide electrical service to the UK caravan park industry, Hawkins Electrical, has been acquired by RSK.
The company is a one-stop provider of all holiday and mobile home park electrical services, and offers bespoke design and installation, product supply and manufacture, inspection and maintenance, mandatory testing and remedial works.
Skegness-based Hawkins Electrical was founded in 1967 and its team of 74 includes qualified electrical engineers along with electrical apprentices and a skilled, experienced management team.
The company is proud to have a number of long-service employees with up to 40 years’ service, and two directors achieved their current positions after working their way up through the company from apprentice level.
Another of the directors is the founder’s nephew, who has worked for the business since school age, and the final director is a highly knowledgeable member of the Institution of Engineering and Technology (IET) with many years’ experience across different sectors of the electrical industry.
Hawkins has built its reputation on designing and installing private electrical distribution networks and providing quality products to the holiday and mobile home park industry, with a small element of works in the marina marketplace.
In partnership with Megger Instruments and the National Inspection Council for Electrical Installation Contracting, Hawkins Electrical has developed a bespoke testing software package for its technicians to use on site. The time-efficient automated system enables on-site technicians to give the in-office team full visibility of project works.
Managing Director Alex Farrow, who will continue to lead the business, said: “Our business has been built on a proud tradition of strong growth and ethics and we believe that joining the RSK Group will provide an excellent foundation to continue this ambitious trajectory. RSK offers considerable opportunities for expansion into new markets and being part of such a significant group is great for staff development and retention, which is very important to our entire team.”
Alan Ryder, RSK Group Chief Executive Officer, said: “Hawkins Electrical has an enviable reputation of innovation and client service – one of its customers has had a relationship with the business for 52 years – and this close alignment with RSK’s ethos is why we are proud to welcome the company to our group. Hawkins has earned a reputation that is unrivalled in the industry, servicing both the small and large sites with national holiday park operators.”
The acquisition adviser was Bishopsgate Corporate Finance.
Dual hire at East Midlands engineering company
Nottingham-based civil and structural engineering firm Howard Ward Associates (HWA) has bolstered its team with the hire of two new engineers.Claudia Henry joins as a structural engineer and Rob Morley as a principal engineer, increasing the company’s team to 16.The new recruits come following a sustained period of growth in 2022, with growing workstreams from Midlands contractors under major construction frameworks, and a surge in housing and renewable energy projects.
HWA has secured a pipeline of work for 2023 with a Gross Development Value of over £400m in the East Midlands and nationally and is continuing to expand its team this year to facilitate its growing portfolio.
HWA director, Dan Bailey, said: “Our strategy over the last 12 months has been to diversify our client base and the sectors we operate in and our efforts in delivering that strategy have really started to come to fruition. HWA is experiencing a welcome time of significant growth and innovation which is great following a challenging time for the industry.
“We are working with incredible clients, old and new, on really impressive, innovative schemes and the growing demand for our services has led to us expanding the team at all levels.
“Rob and Claudia join us at an exciting time and their passion and expertise is a real asset to our team and will enable us to expand our offer and portfolio further.
“Likewise, we feel it is just as important to invest in the next generation of engineers and our year out student, Jakub, has gained valuable experience over his time with us which we are sure will benefit his studies.
“We’re a close-knit business with a supportive and progressive culture and myself and the rest of the team are really pleased to be welcoming new people to the company.”Claudia, who studied Civil and Environmental Engineering at the University of Nottingham and is a graduate member of IStructE, has already become a valuable member of the team delivering building designs for the wider HWA team.
Rob has over 25 years of consultancy experience and has worked with some of the HWA team previously. He will add further expertise to the reporting and structural assessment side of the business, whilst carrying a substantial depth of knowledge of building and design projects.
YMCA begins work on transformational housing at Cotton Lane
Building work on 60 flats in central Derby, specifically designed for young people in employment, education and training, has begun.
The project was initiated following on from an extensive piece of work through the YMCA movement which looked at the housing market from a young person’s perspective.
The research found that young people entering work or on low wages faced considerable barriers to accessing the housing market.
Affordable and social housing is in short supply and the private sector requires references, deposits and rent in advance making this sort of housing beyond the reach of the young people.
As a result, YMCA Derbyshire in partnership with Nottingham Community Housing Association and Blueskies consortium, have planned and are beginning build on these 60 transformational flats.
Fran Cropper, development and new business manager at Pelham (on behalf of the Blueskies Consortium), says: “We are delighted to see works commence at Cotton Lane. We have experience of working with clients to inject new high quality housing schemes on derelict sites which will bring a new lease of life to the area.
“Our design has been driven by the needs and requirements of the young people who will live and thrive in these new homes. The flats will be energy efficient to reduce fuel poverty and utilise green energy to help reduce running costs. Our specialist architects and development team will be working very closely with YMCA Derbyshire to bring this plan to life.”
Gillian Sewell, Chief Executive at YMCA Derbyshire, says: “This project has been four years in the making and we are so pleased that thanks to support from our partners, Derby City Council and Derby Homes we’ll be able to provide this offering to young people in Derby. It’s so important that we invest in the youth of our city as they become the future leaders of our businesses and our communities.
“Our services over the last 12 months have enabled 52 young people to gain employment, 41 to secure a volunteering role, 61 to enter education, 7 to get to university and 59 to attend training courses. We aim to support even more young people to achieve their goals and fulfil their potential with this project.”
Tony Walker CBE DL, YMCA Derbyshire’s chair of the Capital Development Committee and trustee, says: “The start of construction of these 60 flats is a significant milestone for YMCA Derbyshire.
“The build will strengthen the YMCA’s ability to support young people who have had a difficult start in life become independent and to live self-reliant lives. It was such a joy to be present at the ground-breaking.”
The location of the scheme has been influenced by its proximity to some of Derby’s largest employers – those who provide apprenticeships for young people. The area also has fantastic public transport links for education and work purposes.
Construction is due to be finished in September 2024.
Atlantic crossing raises nearly £170k for cardiac risk in the young
Andrew Osborne, a 57-year-old businessman from Rutland, has completed his unsupported row across the Atlantic in honour of his late daughter, Amy, who died aged 25 years-old from an undiagnosed heart condition.
Andrew’s ‘Row For Amy’ campaign has raised £169,025 as of the 30th March for Cardiac Risk in the Young (CRY) with the support of sponsors, MHR and Delancey.
The total amount takes into account funds raised via Andrew’s Just Giving page (£143,542), the Row for Amy prize draw (£7,810) and gift aid (£17,673).
The charity offers lifesaving screenings to 30,000 young people aged 35 and under per year – the funds raised by the campaign will pay for 3,000 of these tests, which equals one test for every mile rowed by Andrew.
Setting off from Gran Canaria on 8th January – just a few days shy of the sixth anniversary of Amy’s death on 14th January 2017 – Andrew rowed tirelessly for 78 days before finally arriving in Antigua 3,000 miles and 1.5 million oar strokes later. Along the way he overcame bouts of sickness, technical issues with the boat, loneliness and isolation, and even a large storm – but arrived at his destination unscathed and full of accomplishment.
Andrew decided to take on this gruelling challenge in memory of his daughter, Amy, who shared her father’s love for water and sea, but passed away suddenly from an undiagnosed, asymptomatic heart condition. Each week in the UK, 12 seemingly healthy young people die from similar undetected heart defects, with four-fifths (80%) of them never exhibiting or feeling any symptoms.
Andrew’s goal was to raise the funds and awareness needed to put a stop to these staggering numbers and prevent others from losing their young, loved ones in the same way. His original fundraising target was £100,000, which he passed in January earlier this year.
Andrew Osborne notes: “My arduous voyage across the Atlantic has been the most gruelling and exhilarating experience of my life. Rowing solo across the Atlantic in a little 20-foot boat, I was pushed to the limits of endurance.
“I faced an initial 72 hours of extreme sickness and problems with the boat’s autohelm shortly after setting off, and later, there was troubleshooting with contact due to a faulty satellite.
“At several points, I had to abandon my oars for a parachute anchor, to steady my position amid unruly waters and searingly hot gusts and I even experienced a turbulent capsize but thankfully emerged unscathed.
“At the other extreme was frustratingly calm waters which were soon overthrown by a cataclysmic storm towards the end of my journey which threatened to push me back off course altogether right before the finish line. At the same time, mentally I experienced extreme isolation and loneliness throughout my journey and had to dig deep to find the strength and determination to go on.
“Despite the challenge, each painstaking mile has been worth it, and it is the most humbling and rewarding feeling to know that every pull on the oars will give at least one young person the chance to receive lifesaving tests and be spared from experiencing the same tragic fate as Amy did. It is the honour and privilege of a lifetime to be able to raise this support and awareness, in memory of Amy.
Independent property company swoops for city centre commercial park
Independent property company, Hortons’ Estate Ltd, has expanded its industrial portfolio with the multi-million pound acquisition of a city centre commercial park in the East Midlands.Sinfin Commercial Park is a prominent, multi-let industrial and logistics estate approximately two miles south of Derby city centre and near the Rolls-Royce Sinfin campus.The 26-acre site consists of 21 fully occupied warehouse units, totalling more than 135,000 sq ft and includes almost eight acres of additional open storage and development land. The deal complements Hortons’ investment and development portfolio, which encompasses more than two million sq ft of industrial, leisure, offices and retail properties located throughout the Midlands. Steve Tommy of Hortons, said the company intends to further expand its portfolio by investing in the acquisition of additional high-quality industrial and logistics locations in the region. He said: “This is an excellent acquisition which builds on our investment strategy of obtaining income generating industrial sites with significant development potential.“Sinfin Commercial Park benefits from a good mix of modern and flexible units with established occupiers and presents the opportunity to add value through letting or developing vacant plots of land.”Hortons was advised by Acre Capital Real Estate.
