Tritax Big Box REIT has sold three investment assets for £125 million, including a Worksop warehouse.
The purchaser is a “leading global investor in real estate.”
The 330,000 sq ft Worksop property, which is let to Cerealto for a further 12.5 years, was acquired by Tritax Big Box REIT in November 2017 and was constructed in 2007.
The other buildings in the deal consist of a 470,000 sq ft site in Skelmersdale, let to DHL, and a property in Knowsley, with a ground floor GIA of 578,000 sq ft, let to Matalan.
Colin Godfrey, CEO for Tritax Big Box, said: “We constantly seek ways to optimise our portfolio to crystalise value and redeploy capital into higher returning opportunities. The disposal of three assets for £125 million, in line with their book value, demonstrates the ongoing effective implementation of our strategy and the attractiveness of our assets.
“The sale to a leading global investor in real estate provides further evidence of the growing stabilisation within the UK investment market. With the UK’s largest logistics focused land portfolio, we have a significant pipeline of higher returning development opportunities we are able to recycle capital into.”
A new £3.8 million facility that will revolutionise the world of manufacturing, making it more efficient and cost-effective, has opened at the University of Nottingham.
The state-of-the-art OMNIFACTORY, a concept factory where different digital technologies are implemented to improve traditional manufacturing practices, was officially opened on Wednesday 1 March 2023 by Brian Holliday, Managing Director at Siemens Digital Industries and co-chair of the Made Smarter Commission, with a keynote contribution from George Freeman MP, Minister of State for Science, Technology and Innovation.
Situated on the university’s Jubilee Campus, OMNIFACTORY is home to a bespoke test bed floor, developed in Nottingham, that provides a unique reconfigurable environment. The floor autonomously adapts itself to the next product’s environment and specifications, reshaping itself through a combination of digital technologies, robotics, and artificial intelligence.
“OMNIFACTORY is a unique facility that will allow us to develop, demonstrate and rapidly implement the latest digital manufacturing technologies in industry,” said Svetan Ratchev, director of the Institute for Advanced Manufacturing.
Svetan continued: “Working closely with our industrial partners, we aim to transform current practices and improve productivity across different sectors by developing the next generation of smart, highly agile, and efficient factories, which will also support localised manufacturing supply chains.
“By leveraging technologies such as the Industrial Internet of Things (IIoT), artificial intelligence (AI) and data analytics, we can dramatically accelerate the development and sustainable manufacturing of new products and deliver significant societal, economic, and environmental benefits.
“Manufacturing processes have a significant impact on the environment, with a large proportion of the carbon footprint of some products being created during their production and logistics. By creating a new generation of smart, highly efficient factories embedded in local supply chains, we will contribute to the net-zero agenda and make a significant step towards the circular economy.
“OMNIFACTORY is a national testbed for future factory technologies, and we welcome new businesses to join us and explore the future of manufacturing.
“We have already received an incredible response from industry working both with large original equipment manufacturers and highly innovative local SMEs.”
The five-year project has been funded by Innovate UK and aligned to the Aerospace Technology Institute (ATI) Programme, but OMNIFACTORY’s facilities can be applied to other sectors, such as food and automotive.
“OMNIFACTORY is a game-changing facility, which creates a blueprint for how future factories will dramatically enhance the productivity and competitiveness of British manufacturers,” said professor Alan Norbury, chief technologist at Siemens Digital Industries.
Alan continued: “Based on the foundations of excellent research conducted at the University of Nottingham, this new space will support industry in developing, testing and validating new digital manufacturing applications and their rapid implementation across all sectors. We’re incredibly proud to support this unique development and to see Siemens’ core technologies being deployed to showcase the future of UK manufacturing.”
The facility is already working with several businesses that operate in a variety of sectors, including Airbus, and GKN, which is utilising OMNIFACTORY for the ELCAT project.
Andrew Portsmore, technology director of Assembly Systems at GKN, said: “We developed the vision for the ELCAT project with the University of Nottingham, which sets out to enable flexible manufacturing systems without the need for expensive ‘black box’ integration, by fusing real-world industrial experience with game-changing theoretical proposals backed by academic analysis.
“Now, OMNIFACTORY will allow this thinking to be taken to a point of physical reality, maturing and de-risking the associated technology threads to a level ready for final development and adoption in GKN.”
The Access Group, a Loughborough-based provider of business management software, has appointed two new board members.
Marko Perisic joined The Access Group board in the latter part of 2022 as chief product and engineering officer (CPEO) taking over responsibility for product and engineering, while Fabrice Dreneau joined at the same time as chief customer success officer (CCSO) to help further strengthen the customer experience.
Marko joins from Zellis, where he was most recently chief product and technology officer. He has decades of experience in the technology space, having had a long and distinguished career at Microsoft before that.
Commenting on his position at Access, Marko said: “Everything I have observed about The Access Group points to an incredibly successful business, with many people who feel passionate about software to make customers’ working lives easier – a passion that I also share. What stands out the most is the culture at Access – everyone I have spoken to speaks very proudly of working for the company and that is one of our strongest assets.
“I’m learning every day from my colleagues and sharing my experience as we take The Access Group’s product portfolio into its next phase of growth, powered by Access Workspace as a unifying platform, and the best-in-class experience for our customers.”
Marko takes over from Steve Lane who has retired after a 40-year career in IT and six years at The Access Group. During this time he created a world-class product and engineering function that has grown from 200 people when he joined, to over 1,700 people.
Fabrice joins The Access Group from Qlik, where he was senior vice president and led a global customer success and renewal team. He is passionate and client-focused and has previously held senior positions at Autodesk and Dassault Systems and has substantial international experience including a five-year assignment in Japan.
During his career, he has achieved a reputation for ensuring the effective adoption of outcome-based repeatable solutions to increase customer loyalty and revenue growth.
Fabrice Dreneau
Fabrice said: “I’m excited to lead Access’ Customer Success on the next stage of its journey in providing the very best service to its customers.
“At Access, we succeed only when our customers succeed. Through embedding new technologies, enhanced education and training, robust reporting and analytics and strategic engagement, our team endeavours to support a seamless client journey across all our divisions.
“From SMEs to midmarket and large multi-product customers, it is our mission to make our customers’ voices integral to the overall experience and instrumental to achieving desired outcomes through successful partnering with Access.
“I look forward to using my expertise to help the company’s growth continue in a direction that benefits everyone – our employees and our customers.”
Welcoming the new appointments, Access Group CEO, Chris Bayne, said: “Both of these appointments to our board show our commitment to developing the very best in technology and taking our product, engineering and hosting teams into the next phase of our growth, as well as keeping each of our customers engaged with our products and ensuring they are receiving the best service possible.
“Marko and Fabrice are already making a hugely positive impact on their teams and the company as a whole.”
The number of new technology companies incorporated in the East Midlands increased 38% in 2022, according to analysis of Companies House data by audit, tax and consulting firm RSM UK. A total of 1,390 tech businesses were incorporated in the East Midlands last year, up from 1,009 the previous year. Sheetal Sanghvi, partner and head of innovation reliefs in the Central region at RSM UK, said: “It is great to see East Midlands at the top of the table with the biggest increase year-on-year.“The region has always benefitted from a thriving technology sector, particularly in fintech and medtech. This is largely due to the quality of the local incubator hubs, universities and the scale of global businesses from which experienced individuals go on to build their own businesses. “Like many regional cities, the cost of workspaces in the East Midlands is more competitive than the capital. For start-ups and small businesses tight on cash, this has been a huge factor when setting up their headquarters and is reflected in the numbers published. “New businesses also tend to attract younger demographics and the region has a generous pool of young talent to hand. In addition, with many workers moving away from the bigger cities during the pandemic and post-pandemic, triggered by the rise in remote working, regions with lower costs have become an appealing option for tech workers.“This is another key driver in the decision-making process for businesses when deciding where to locate their new business.”Nationally, 46,474 tech businesses were incorporated in 2022, up from 38,240 in 2021. The total number of incorporations in 2022 is nearly double the 23,531 companies in 2020, demonstrating sustained growth in new tech incorporations year-on-year. The data cements tech as an area of huge growth across the UK. All regions in the UK saw an increase compared to 2021, with London being home to the highest number of tech incorporations (24,783). Eight of the ten regions in the UK saw increases on or above 22%.Ben Bilsland, partner and Technology Industry senior analyst at RSM UK, said: “Despite the obvious economic challenges, it’s been another strong year for the tech industry. Whilst it is no surprise to see London at the centre of new tech incorporations, growth across all regions outside the capital is further evidence of the UK’s thriving tech industry. “There is clearly appetite from entrepreneurs to start up new, innovative businesses and become part of the UK’s booming tech industry. “This crop of early-stage businesses will need support to scale. Access to funding will be crucial and the UK government will need to ensure that UK tech is an attractive place for both domestic and overseas investment. “For many young innovative companies, R&D tax incentives are crucial cash inflows. For many, the recent changes to UK R&D schemes that reduced the amounts small companies can claim were not seen as a positive step towards supporting the early-stage ecosystem.“Innovation requires a world-class talent pool and UK tech will look to both education and immigration to build their workforces. Support from our universities and schools to build skills in STEM subjects and emergent areas such as Artificial Intelligence will be essential. Clarity over immigration policy will be required to ensure a healthy inflow of tech talent to fuel growing companies.”
A health and safety manager who previously worked on oil rigs and in car and construction equipment assembly lines has taken on his first role in the rail industry by joining depot maintenance company MTMS.
Steven Ostle has been appointed as the company’s new health, safety and environmental manager, with responsibility for ensuring that MTMS’s engineers and sub-contractors continue to work safely at rail depots all over the country.
MTMS services and maintains rolling stock and specialist depot equipment at over half of the UK’s rail depots, serving such familiar names in mainline rail as First MTR South-Western Railway, Hitachi, Arriva and Siemens, and is the proud owner of an excellent safety record.
Steven’s role will be to review and update its H&S policies, offer training and advice and make site visits to discuss any issues with staff in the field, while also drawing up specific health and safety procedures for minor engineering projects carried out to improve the depot infrastructure.
He will also help the company attain the coveted ISO 45001 international standard for health and safety at work.
Although his previous two roles involved working indoors in the vehicle manufacture industries, Steve has previously worked outdoors, when he was the health and safety liaison officer working offshore on oil rigs and on the Irish Sea Pioneer – a giant lift boat which supports drilling operations off the coast of Liverpool.
But he says many of the skills he puts into practice relate back to his days serving in the British Army, which he left in 2012 having achieved the rank of Captain, a role which relied heavily on upholding rules and being able to communicate them clearly.
He said: “The rail industry is a new industry to me but it is a sector where health and safety is of paramount importance and it’s enjoyable doing something different after working in factory settings for the last five years.
“While the majority of my work will be supporting our engineers undertaking their routine maintaining rolling stock at rail facilities, I’ll also be planning health and safety frameworks for one-off infrastructure projects.
“This role fits well with my military career, because the Army also relies on rules and regulations, and requires the ability to understand the work culture in order to be able to communicate them effectively.”
MTMS advertises itself as a pro-military employer and has been awarded the Silver Defence Employer Recognition scheme for its commitment to the Armed Forces Covenant, and Matt Forst, Managing Director of MTMS, says Steve’s military background and vast experience were key to him getting his new role.
He said: “Steve’s CV shows that he is incredibly well-qualified and has an understanding of how to undertake his health and safety role in a range of different and challenging settings.
“We’re delighted that he has joined us here at MTMS, where we’re confident that he will help us maintain our proud safety record and enable us to achieve the ISO 45001 standard.”
The future of a local charity is looking bright as work starts to build them a new home.
North West Leicestershire District Council (NWLDC) has provided land in Swannington to Hospice Hope so it can create a bespoke facility and continue its work supporting people with life limiting conditions. Local house builder Bloor Homes will carry out the building work at no cost to the charity.
Work started on site to build Bright Hope House on Monday 27 February, with the centre expected to open early 2024.
In 2019 Hospice Hope learned that they would have to move out of their current accommodation in Griffydam, so the trustees turned to the district council for ideas.
In response, the council agreed to lease some of its land – currently used to store spare wheelie bins – to the charity for a peppercorn rent. Bloor Homes have now started building the bespoke 6,000 sq ft facility at no cost to the charity.
Councillor Andrew Woodman, Portfolio Holder for Community Services at NWLDC, said: “This is a very exciting time, as work to build Bright Hope House begins in Swannington. The facility will secure the future of a fantastic charity which supports so many local people.
“It has been our pleasure to work with Hospice Hope and Bloor Homes on this important project, and we look forward to seeing the building take shape over the coming months.”
Stewart Shepherd, chair of the Trustees of Hospice Hope, says the charity is delighted with the news: “This wonderful partnership between the council, Bloor Homes and our charity must be unique. It enables Hospice Hope to develop and build on all that it has learned and achieved over many years.
“The need for our services continues to grow and develop and we are all looking forward to meeting that need when Bright Hope House opens. As the building progresses, we shall be looking to the community and local businesses to support this excellent initiative.”
A major extension to Markham Vale North, granted by Chesterfield Borough Council in December last year, has now been approved by Bolsover Council.
The decision is a significant milestone for the project and follows three years of extensive discussions with both councils and the local community. It will enable the creation of a high-quality addition to the commercial offer at Markham Vale, further strengthening the local economy.
HBD, the developer behind Markham Vale, will work with Devonshire Property Group to bring the new scheme forward, with the potential to create up to 800 new jobs.
The development will boast strong sustainability credentials, with an extensive landscaping plan that protects and improves the existing river corridor.
Significant planting will include around 5,700 new trees (including 2.15ha of new woodland planting), 3.7ha of new grassland habitat and 2km of new native hedgerow to screen the development and create areas of new habitat.
Markham Vale, a joint venture partnership between HBD and Derbyshire County Council which began in 2006, has created more than 2,700 jobs across a wide range of sectors, including advanced manufacturing and logistics.
It is home to a range of businesses, including Bilstein Group, which manufactures and distributes automotive parts, Granger International, manufacturers of waterproof outdoor products and shoe care products, and Sterigenics, makers of sterile healthcare products.
David Wells, director at HBD, said: “It’s great to be able to move forward with this project – it will allow us to meet established demand for superior sustainable and well-located industrial stock, while continuing to attract vital inward investment into the region. We look forward to working alongside Devonshire Property Group to bring the scheme forward.”
Andrew Byrne, Devonshire Property Group, said: “We are delighted that both planning committees have approved this exciting project. This is a high-quality extension to an already successful employment location, and will make a real contribution to the strength of the local economy and the environment.
“It is a further demonstration of how the Devonshire Property business is actively investing into both Chesterfield and Bolsover, delivering on our stated ambitions of creating jobs and opportunities for local communities. We look forward to being part of this regeneration, working alongside our Joint Venture partner HBD.”
Plans for a new Business School in Derby city centre have been secured after the University of Derby raised £70 million funding to help develop the state-of-the-art Business School, a core part of the University’s long-term strategy.
Following a competitive funding process, the £70m private placement was secured, featuring highly attractive, fixed rate, 35-year terms. It is the University’s first debt capital markets issuance and was arranged by Centrus, who acted as corporate finance advisor.
The funding is structured, so half of it has already been received, with the remainder due in December this year, to better match the project’s funding needs while reducing the University’s interest costs. Further, the funding incentivises the University’s commitment to social inclusion and equality. It does so by providing a discount if the target set by the University for reducing the attainment gap is achieved.
Craig Jones, chief financial and commercial officer at the University of Derby, said: “The new Business School is pivotal to our role as a Civic university and the development of our city campus, enhancing the teaching and real-world learning experience for our students and staff.
“Centrus, and Mills & Reeve, provided outstanding support through the process, contributing to the successful outcome achieved. We are delighted our new borrowing arrangements link to our inclusion and equality commitments, given these commitments to the University’s strategic agenda.”
Sam Goldman, director at Centrus, said: “It’s been a pleasure to have supported the University to arrange funding so key to their long term-strategy. This excellent outcome was achieved against the backdrop of significantly volatile financial markets.
“A key element of the success obtained was a carefully targeted investor and credit positioning strategy, on which we worked closely with the University to develop and implement. We see this transaction as part of a broader trend towards universities utilising debt financing for capital projects across the sector.”
Matthew Howling, principal associate at Mills & Reeve, added: “We are delighted to have supported the University on its private placement. It was a pleasure to work with the University at every step in the transaction, providing help and advice throughout. It was also rewarding to work on a project that will have such a positive impact on the University, its students and staff, as well as the wider community in Derby.”
Increasing demand for high environmental standards is providing businesses who invest in ESG with a competitive advantage and the opportunity to increase revenue, new Paragon Bank research has found.
Conducted by Opinium, the research of over 500 UK SMEs found that 61% of firms take an active interest in the ESG credentials of their suppliers, with 51% refusing to work with businesses with a poor environmental record.
Concern over the ESG record of a business continued into enquiries made by customers with 53% demanding to know about an SME’s own standards. This is led to 57% of SMEs considering ESG standards as important to their business and only 14% who do not.
With the increased interest in ESG standards, a majority of SMEs are now both actively investing in new equipment to improve their standards (59%) and are planning to increase future investment (58%).
As well as investing to improve ESG standards to meet the demands of customers, SMEs are also moving towards more sustainable working practices to reduce energy bills (58%).
The research identified both the level of interest and lack of interest shown towards ESG standards:
Interested in supplier’s credentials (Agree 61% /Disagree 12%)
Actively investing to improve (59% / 13%)
Plan to increase investment (58% / 12%)
Investing to lower energy bills (58% / 14%)
Very important to our business (57% / 14%)
Customers demanding to know credentials (53% / 22%)
Won’t work with company with poor ESG (51% / 17%)
Commenting on the research findings John Phillipou, Paragon’s Managing Director of SME Lending, said: “The move towards more sustainable and environmentally friendly working practices is a win-win for SMEs.
“As the research identifies, customers are now looking to work with companies that have strong ESG policies. Those that do will have a competitive advantage, creating fresh business opportunities and the ability to increase revenue thanks to providing clients with the standards demanded by their own customers.
“The increased energy efficiency of the new tech also provides the potential for long-term cost savings, with SMEs able to reduce the costs at the same time as increasing business.”
He continued: “Investing in green technology also comes with the vital benefit of helping to support and protect the environment – and SMEs seeking to improve their ESG will play a key role in preserving and improving our environment for generations to come.
“Paragon is committed to supporting businesses making the transition to more environmentally friendly working practices. With an increasing range of electric and alternative fuel powered assets coming onto the market, now is the time for SMEs to start planning for the future and investing in their ESG standards and take full advantage of the opportunities they can provide.”
Employees of Lubrizol, a science company with a Derbyshire headquarters, have helped support large numbers of people across the country with their mental health after raising a whopping £28,282 for mental health charity Mind.
Employees at the chemistry company raised the total through sponsorship after holding their own “Lubrizol Olympics,” which involved them completing the 5,882 miles between Britain and Tokyo in Japan, where the Olympic Games were held in 2021.
Covid lockdowns meant that Lubrizol’s employees had to come up with imaginative ways of swimming, cycling, rowing and running the distance, before coming together in a series of joint walking challenges.
Lubrizol’s charities and communities committee had set the company a £25,000 target, but staff ended up achieving a significantly greater amount.
Committee co-chair Tom Grazier said at a recent charity day held at its HQ in Hazelwood near Belper: “This donation to Mind is our biggest donation ever as a company, by a significant margin. It’s been a huge effort and it’s down to how much time people have given to this, and at the end of the day, how generous our employees have been.
“From myself on behalf of the committee, thank you to everyone who has been part of this. It really has been amazing to see what we can do when we come together.”
The idea for the “Lubrizol Olympics” came from Chris Hart-Jones, who manages the company’s Barnsley plant. In thanks for his efforts, Chris was crowned with the company’s prestigious Christine Sewell award, given annually to someone who has gone above and beyond in volunteering their time for good causes.
As well as coming up with the idea, Chris’ contribution was to complete 300 miles on his Peloton bike at home, the distance between all of Lubrizol’s sites in the UK.
He said: “Many people find exercise very beneficial for their mental health which is why the idea for the Lubrizol Olympics seemed an appropriate way of raising money for this particular charity.”
Then, when social distancing restrictions were relaxed, Chris organised for Lubrizol staff to come together in several joint walking challenges, including climbing Mount Snowdon; Scafell Pike, the famously gruelling 12-hour Yorkshire Three Peaks challenge and Mam Tor in Derbyshire. For many people who had joined the company during Covid, it was the first time they had actually met in person.
In the end, nearly 70 employees from Lubrizol smashed their original target and achieved 8,542 miles, with more than 800 family, friends’ and colleagues’ support.
Eve Kirkendall, corporate partners officer at Mind, thanked Lubrizol’s employees at their charity day.
She said: “You have raised an absolutely amazing £28,282 during the last two years. We want to thank everyone for taking on these challenges, and a massive well done to all those who got involved.”
The £28,282 raised for Mind could be used to help support a variety of projects, including the charity’s Side by Side online peer support community for an entire month. An average person logs on to this service 12,000 times to share their struggles, find hope and feel less alone. It could also be used for Mind to help 370 children feel less scared and alone, by funding personalised mental health support through the charity’s ‘Whole School Approach’ and to help Mind answer more than 300 enquiries to its Infoline, helping people get the answers they need to believe a brighter future is possible.
As well as donating money to Mind, Lubrizol has also given £11,210 to almost 50 other charities nominated by employees, including Steps conductive education centre in Leicestershire; Belper Mencap; St Peter’s Church Clock in Belper, and the Ukraine Humanitarian Appeal.
By continuing to use the site, you agree to the use of cookies. more information
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.
