Gary Headland to step down as Chair of Lincolnshire Chamber

Steve Fisher
-
0
Gary Headland to step down as Chair of Lincolnshire Chamber
Lincolnshire Chamber of Commerce are announcing that Gary Headland will step down as Chair of the Board at the company’s Annual General Meeting in December this year. Gary, who recently resigned from his role as CEO at the Lincoln College Group as he took up a different position outside the county, has served as Chair since early 2019, when he took over from Lincolnshire Co-op’s Ursula Lidbetter. He previously had been a member of the Board for some years. The Chamber is now looking for a new Chair to take over and lead the organisation forward supporting its vision of ‘supporting Lincolnshire businesses to grow and succeed’. Simon Beardsley, Chief Executive of the Lincolnshire Chamber, said: “We are forever grateful to Gary for all his hard work and support he has given us over the years, it really has been invaluable. “I encourage business leaders across all sectors to consider applying for this role, which brings with it a lot of exciting opportunities and the chance to really make a difference to the Lincolnshire business community. “We wish Gary all the best in his future endeavours.”
Gary Headland commented: “Whilst I am sad to be moving on, I have no doubt my successor will be able to continue the good work we are doing. “I have thoroughly enjoyed my time as Chair of the Board and before that a non-executive director, and though of course there have been challenging times over the past two years with the pandemic, I feel the Chamber has come out stronger than ever. “Taking up the position of the Chair is a great opportunity to really help businesses, great and small, find their potential and grow with one common goal – making Lincolnshire a thriving place to live and work. “With heartfelt thanks to all Board members current and old, Simon, the Chamber team, and everyone who has supported me during my time here.”
“I have no doubt my successor will be able to continue the good work we are doing.” Readers interested in applying for the position of Chair are being asked to submit a CV and cover letter by 31st May with interviews set to take place on 10th June. To view the Job Description and to submit your application visit the vacancy here. Or, for an informal conversation regarding the role, please contact Simon Beardsley for further information via simon.beardsley@lincs-chamber.co.uk.

 

Warning of ‘calm before the storm’ for Lincolnshire business as financial distress plateaus

Steve Fisher
-
0
Warning of ‘calm before the storm’ for Lincolnshire business as financial distress plateaus
Signs that business distress may have stabilised in the first three months of this year, according to  figures published today (29 April) by independent business rescue and recovery specialist Begbies Traynor, are likely to be dramatically reversed as the global economy starts to feel the devastating impact of the war in Ukraine and soaring energy prices. The latest quarterly Red Flag Alert data from Begbies Traynor reveals a 22% drop in ‘significant’ or early-stage distress in Lincolnshire, compared to the first quarter of last year when the country was in lockdown, and a 4% fall compared to the final quarter of 2021. Across the UK as a whole, significant distress fell by 20% year on year and 1% since the previous quarter. Gareth Rusling, who heads Begbies Traynor’s Lincolnshire offices in Lincoln, Scunthorpe and Grimsby, said: “While at first glance these latest business distress figures seem to paint a relatively optimistic picture, of businesses in Lincolnshire, and the whole of the UK, beginning to emerge from the enormous challenges of the past two years, unfortunately they do not take into account the two most recent global developments that are already beginning to shake the economy to its core. “The gathering storm of the war in Ukraine, and the sharp rise in energy prices and escalating cost of living crisis which the conflict is set to exacerbate, will inevitably put enormous strain on business across almost every sector. “For small-business owner-managers in particular, it’s now essential to be as structurally and financially well prepared as possible. Seeking advice at the first signs of financial distress is also a wise move and means that more options are available to take positive action.” In Lincolnshire the decline in business distress was seen across the whole economy in the first three months of 2022 compared with Q1 2021. Printing and packaging saw a 30% year on year fall, food and drug retail sector distress fell by 27%, while in Lincolnshire’s automotive sector, distress dropped by 27%. In Q1 of 2022, compared to the final three months of 2021, distress continued to fall gradually across the regional economy, with only construction and general retail  (both up 1%) and health and education (up 3%) seeing a slight increase in financial difficulties.

Opening traditional industry jobs to women and new visas could help tackle acute recruitment issues, says East Midlands Chamber

Tess Egginton
-
0
Opening traditional industry jobs to women and new visas could help tackle acute recruitment issues, says East Midlands Chamber
New thinking from both businesses and Government is required to plug gaping staff shortages, says East Midlands Chamber’s HR lead as new research shows recruitment pressures are now at record levels. Lucy Robinson, director of resources at the chamber of commerce for Derbyshire, Leicestershire and Nottinghamshire, wants policymakers to support firms with training incentives and more visas for skilled workers in certain sectors where employers are struggling to find staff. But she also believes there are actions businesses can take to open themselves up to new sections of the labour market by offering greater flexibility, as well as creating an equality, diversity and inclusion policy. It comes as the British Chambers of Commerce (BCC) published its latest Quarterly Recruitment Outlook for Q1 2022, which showed almost four in five (78%) organisations that attempted to recruit reported difficulties in filling roles. The survey of 5,500 businesses was drawn from chambers of commerce nationally, including East Midlands Chamber – whose latest Quarterly Economic Survey (QES) reported that 63% of the region’s businesses attempted to recruit in the first quarter of the year, and 80% of these reported difficulties. Lucy said: “It’s now harder than ever for businesses to fill job vacancies and there are no signs of improvement, with our research showing no change between the final quarter of 2021 and the first three months of this year. “In an increasingly tight labour market, competition for skills is ramping up wage costs, leaving many firms unable to recruit the people they need. “When combined with the escalating price of energy, shipping, raw materials and other costs, it is a precarious situation for businesses. Inevitably, it is the smaller firms, with little in the way of cash reserves after two years of pandemic, that are most exposed to the risk all this presents.”

BCC Quarterly Recruitment Outlook findings by sector

The BCC’s research showed the hospitality sector faced the most challenging recruitment issues with 85% reporting difficulties, up from 83% in Q4 2021. This was closely followed by construction on 83%, logistics on 81% and manufacturing at 80%. Retail and wholesale firms were the least likely to report difficulties at 69% but the proportions of firms unable to find the staff they need remains worryingly high. East Midlands Chamber’s data showed both manufacturing and services-based businesses struggled to recruit, with 81% and 79% reporting difficulties respectively.

Why equality, inclusion and diversity strategy could help unlock potential

Lucy said: “It’s clear we need to bring more skilled foreign labour to plug skills gaps in certain sectors, so we’d like to see the Government coming up with visas that will make it easier for businesses that are now at capacity to recruit these people. “Incentives for employers to invest in training people would also assist businesses to offer career progression opportunities they’d love to create, but are currently hamstrung by the escalating cost of doing business crisis. “Greater flexibility has become one of the biggest demands from employees since the beginning of the pandemic. The sectors struggling most with recruiting people are arguably the least flexible by their nature and while they can’t offer remote working for large parts of their workforce, there are perhaps other tweaks firms can make such as offering part-time working. “This would also help industries that traditionally have a high proportion of male workers to become more attractive to women, whose dormant potential could be a key driver to plugging some of these skills gaps. “Providing greater accessibility for employees with a wide range of disabilities is another important area, and creating an equality, diversity and inclusion strategy that encompasses all these aspects would be a good starting point for any business struggling with recruitment.”

Study Inn secures refinance of its £161m portfolio

Tess Egginton
-
0
Study Inn secures refinance of its £161m portfolio
Study Inn Group, the boutique serviced student accommodation owner, developer and operator, has refinanced its second portfolio of student accommodation assets with facilities totalling £161 million. The Study Inn platform was set up to design and develop portfolios of high-quality, well located student accommodation in key cities. Once operational, the assets are stabilized at 100% occupancy under the Study Inn brand before being sold into the investment market, with or without ongoing branding and management. Following the sale of Study Inn’s first £135m portfolio to Arlington Advisors in 2017, the Group has created its second generation of completed assets in Bristol, Loughborough, Nottingham, and Exeter, with further developments currently on site in Leicester, Nottingham, and Leeds. Study Inn Group’s finance director, Marcus Hook, said: “The re-finance of development assets once they are complete and operational is a key step in consolidating the portfolio. This allows us to bring our completed sites into one facility with lower debt service costs, scale up to a level which can accommodate a significant number of additional rooms, and maximise our return on capital.” Lisa Attenborough, head of debt advisory at Knight Frank, said: “We are delighted to have advised our client Study Inn Group on the refinance of their market-leading, purpose-built operational assets located in Bristol, Loughborough, Nottingham and Exeter. The student accommodation sector remains attractive to a range of capital providers and this particular portfolio is a perfect demonstration of one which has maintained impressive occupancy levels throughout the pandemic.” Study Inn were advised by Knight Frank Capital Advisory, Gateley Legal, Cooper Parry, CBRE and Chatham Financial.

Work to begin on £1.5m Braunstone Gate ‘mini-Holland’ improvement scheme

Tess Egginton
-
0
Work to begin on £1.5m Braunstone Gate ‘mini-Holland’ improvement scheme
Work to make permanent a pop-up ‘mini-Holland’ scheme in part of Leicester’s West End is due to get underway early next month. Leicester City Council is planning to invest up to £1.5million on permanent measures to help create more space for pedestrians and cyclists in the busy shopping area of Braunstone Gate. The work – which is due to begin from Monday 9 May – will help create a more people-friendly place and give more priority to cycles and pedestrians by limiting vehicle access, closing the road to unnecessary traffic at busy times and creating wider pavement areas for visitors to the shops, cafes and bars in the area. New, wider footpaths will be created and a section of the street will be repaved in high-quality block paving. The carriageway will be resurfaced in red asphalt. New trees will also be planted as part of the scheme. Access to Braunstone Gate from Duns Lane and New Park Street will be restricted to buses, taxis and cycles only, and the left turn from Western Boulevard will also be closed to traffic, except cycles. Most on-street parking on Braunstone Gate will be removed, with the extra space used to create wider pavements. Businesses will be able to apply for street café licences and outside seating areas. Disabled parking bays will be retained and additional pay-and-display parking spaces will now be created on Bede Street and Western Road in response to feedback from local businesses. Most of the measures were originally introduced on an experimental basis in the summer of 2020. Now, following feedback from local residents and businesses, the city council plans to invest around £1.5million to make permanent improvements. The work will be supported through the Transforming Cities Fund, a major £80million citywide programme of investment in sustainable transport, backed by £40million of Government cash from the Department for Transport. Work will be carried out in phases to minimise disruption. On-site traffic marshals will be available to assist with deliveries throughout the works, and access will be maintained for residents. Braunstone Gate will be temporarily reduced to one lane from early June 2022, and will be restricted to buses, taxis, cycles, and access traffic only from Western Boulevard to Narborough Road in that direction. Well-signed diversions will be in place along Narborough Road North and New Park Street onto Braunstone Gate. This will be followed by a full road closure from early autumn. Full details will be publicised nearer the time. Work is expected to be complete in spring 2023. Permanent mini-Holland schemes have been installed in other urban areas including the London borough of Walthamstow, leading to a huge increase in cycling and walking, and a 56 per cent drop in vehicle numbers. Deputy city mayor and Westcotes ward councillor Sarah Russell said: “Braunstone Gate is home to a vibrant and popular mix of cafes, bars, restaurants and shops and other independent small businesses. It is also a really busy and important route between De Montfort University and the West End. “This much needed investment represents a huge opportunity for the area. It will help to make it an even more attractive destination, not just for the local community but for the whole city.” Deputy city mayor Cllr Adam Clarke, who leads on environment and transportation, added: “We know these plans present huge opportunities for Braunstone Gate as we’ve had similar measures in place on a temporary basis for almost two years as part of our Covid transport recovery plan. By investing in making these improvements permanent, we can help make the area much more attractive and people-friendly. “We’ve seen the success of mini-Holland schemes elsewhere over the last few years and investing in a similar scheme here will help support local businesses with a more attractive trading environment, while also helping us meet our obligations to cut carbon and improve air quality. We want to help create a place where people feel confident to walk and cycle, but also somewhere that people want to go meet friends, have a meal or a drink and do a bit of shopping. “It is vital that we continue to provide healthier, greener streets to accommodate future growth of the city and its economy, all of which supports our commitments to address the climate emergency and to reduce air pollution. We need to be radical and ambitious to meet these challenges.” The Transforming Cities Fund is a major £80million citywide programme of investment in sustainable transport, backed by £40million of Government cash from the Department for Transport. The ambitious package of works will focus on major sustainable transport improvements to provide attractive choices for people to get to work, education, shops and other local facilities to help support the city’s growth and deliver on the council’s climate emergency, air quality and health living commitments.

Freeths advises Nottingham Community Housing Association on £18m affordable homes deal

Tess Egginton
-
0
Freeths advises Nottingham Community Housing Association on £18m affordable homes deal
Freeths has advised Nottingham Community Housing Association on an £18m affordable homes deal. The ten-acre site has been brought together as a result of a partnership between Leicester-based developer GS Developments, NCHA, Pelham and My Pad Developments, with support from Melton Borough Council and Leicestershire County Council. The homes at Lake Terrace will be a mix of one, two, and three-bedroom properties providing a mix of shared ownership and rented dwellings for families struggling to get on the property ladder in the area. It is the latest acquisition out of a busy 12 months for NCHA which also saw it acquire its largest site to date in Belper from developer Countryside. That £20m scheme will see the delivery of 114 affordable properties with the first homes due to be ready in Autumn 2022. Fran Cropper, New Business and Development Manager at NCHA, said: “We’re delighted to have got this deal over the line after a long time in the planning. It’s been great to have worked with GS developments again and we look forward to Nottingham-based MyPad constructing the homes and making our plans a reality. “The scheme has been creatively designed by the architects at Pelham, maximising the surrounding open space. NCHA is a Strategic Partner with Homes England, and this site at Lake Terrace will be an important contributor in us achieving our delivery targets for both shared ownership and affordable rent homes.” Sarah Rowe, Director and Head of Social Housing at Freeths LLP, who acts for NCHA, said: “We are delighted to have worked yet again with NCHA on securing another important and strategic affordable scheme.” Proposals for phase two of the Lake Terrace development have already been submitted by GS Developments, working with Pelham, in the hope that further housing units could be created in the future.

Midlands listed companies record seven profit warnings in Q1 2022 – businesses in consumer-facing sectors remain most affected

Tess Egginton
-
0
Midlands listed companies record seven profit warnings in Q1 2022 – businesses in consumer-facing sectors remain most affected
Quoted companies in the Midlands issued seven profit warnings in Q1 2022, one more than in the previous quarter, but still the lowest number of warnings in a first quarter since 2018, according to the latest EY-Parthenon report. Nationally, the number of profit warnings issued by UK-listed companies in the first quarter of 2022 increased 44% year-on-year with a record number of warnings citing rising costs as increased commodity and energy prices fuel inflation. Over half of the profit warnings issued by Midlands-listed business involved companies in consumer-facing sectors, a trend mirrored nationally. The report reveals that UK-listed companies issued 72 warnings in Q1 2022, the highest quarterly figure since the start of the pandemic in the second quarter of 2020. A record-breaking 43% of warnings were due to rising costs, up from 27% in Q4 2021 and well above the 2011-2021 average of 10%. Eleven per-cent (11%) of warnings cited the impact of the war in Ukraine, with most referencing the impact of sanctions and withdrawal from Russian markets. Meanwhile, supply chain challenges eased slightly in Q1 2022 with 22% of listed companies issuing a warning referencing this as the main reason for doing so. Warnings from consumer-facing sectors reached their highest level since the second quarter of 2020, with 36% of warnings from this sector citing supply chain disruption and 69% blaming rising costs. Dan Hurd, a partner at EY-Parthenon in the Midlands, said: “The general downward trend in profit warnings across the region is perhaps a welcome sign that many businesses are beginning to see the results of careful navigation during the pandemic. “However, the region’s manufacturers are likely to continue to be affected by supply chain issues and all sectors will feel the effect of higher energy prices. Businesses in consumer-facing sectors, such as retail and food services, have some difficult decisions to make, choosing to pass additional costs on to customers, at a time when they have little room for further manoeuvre. “2022 was always going to be a difficult year for companies, particularly overcoming the challenges of inflation, with many having already dealt with the pressures on company margins and consumer real incomes and restructured their businesses accordingly. “However, the war in Ukraine has contributed to greater supply-side pressure and raised questions about confidence and demand in 2022. We are now looking at a year with ongoing COVID-19 disruption alongside higher inflation, greater uncertainty, and faster monetary tightening than we expected just a few months ago. “The post-pandemic recovery should continue in 2022 but will be slower than expected with greater downside risks. Volatility and uncertainty have become the standard backdrop to operations, and companies need to ask themselves when ‘crisis as usual’ becomes the norm for which they plan. Businesses will need to start thinking about how their operations and wider ecosystem will fare in sustained headwinds, and how they can reshape in response to long-term change.” Supply chain issues hamper post-pandemic recovery The FTSE sectors with the highest number of warnings in Q1 2022 were those most affected by cost and supply chain pressures, alongside those that are most sensitive to changes in business confidence. FTSE Retailers issued the most warnings in the first quarter of the year (9 in total), followed by FTSE Industrial Support Services (7) and Personal Care, Drug and Grocery Stores (6). EY’s analysis forecasts that supply chain challenges could be even tougher in 2022 than in 2021, with the periodic breakdowns in supply witnessed last year potentially giving way to significant challenges for material and product availability in the most exposed sectors in 2022. In addition, the biggest emerging issue in profit warnings, according to EY’s data, is contract delays and cancellations, reflecting the increasing uncertainty around company investment decisions. Headwinds for UK retail Despite strong levels of consumer spending, UK-listed Retailers issued nine profit warnings in Q1 2022 – the highest quarterly total since the start of the pandemic, accounting for 17% of all listed Retailers. Over one-third of FTSE Retailers (34%) have issued a warning in the last 12 months. The sector has been affected by supply issues with 67% of retail warnings citing supply chain disruption, 75% blaming increased costs and over half (56%) revealing staffing issues in the last six months. Consumer sector profit warnings look set to remain high as the ability to pass costs on depends on the capacity of increasingly pressured consumers to absorb them. Silvia Rindone, EY UK&I Retail Lead, added: “Our data underlines the challenges ahead for UK retail. The sector’s problems so far have been largely on the supply – rather than demand – side. Companies will now be facing a combination of supply chain, cost, and demand headwinds, as the rise in the cost-of-living affects real incomes and creates a challenge for the sales growth that has helped drive the recovery so far. “It is vital that companies respond to consumers’ concerns. Our latest Future Consumer Index revealed that more than two-thirds of UK consumers are worried about their finances. So, we expect significant ‘trading down’, as we saw in the last financial crisis, but we also expect an increasing focus on ‘value for money’ options as sustainability-conscious consumers look for purchases that will last.”

Completion of new Jewson branch supports delivery of Chesterfield Station Masterplan

Tess Egginton
-
0
Completion of new Jewson branch supports delivery of Chesterfield Station Masterplan
Construction of a new Jewson branch on Sheffield Road has been completed. This is a key milestone in the £10.8m joint project, between Chesterfield Borough Council and Derbyshire County Council, to deliver the first phase of the Hollis Lane Link Road. The new Jewson branch will open its doors on Monday 9 May as it relocates from its former home on Spa Lane. The move will allow the construction of a new highway from Hollis Lane, extending Spa Lane up to the railway station car park. The Link Road will provide a new gateway from the south as part of Chesterfield Borough Council’s ambitious plans to regenerate the area around Chesterfield railway station. The Jewson development has also delivered wider benefits to Chesterfield – contractors Morgan Sindall Construction have engaged directly with more than 1,000 students from Chesterfield College, Outwood Academy Newbold, The Bolsover School and Shirebrook Academy. The students have been encouraged to consider careers in construction and educated in what skills they will need to gain to pursue successful careers in the sector. In addition, Morgan Sindall Construction has spent around £1million within the local supply chain, through sourcing building materials from local merchants and employing local sub-contractors for particular construction tasks. Councillor Tricia Gilby, Leader of Chesterfield Borough Council, said: “The completion of Jewson’s new Sheffield Road branch signals another positive step forward for our plans to transform the area around Chesterfield railway station. “The depot will provide a great new base for a much valued local employer, and also brings a longstanding empty site back into productive use. “Making sure that developments also benefit the wider community is a key priority for us. We welcome the work that Morgan Sindall Construction has done within the local community both in supporting skills development and the local supply chain.” James Garnett, project director for Morgan Sindall Construction, said: “We are delighted to have completed the new Jewson branch in Chesterfield. Since our appointment, we were determined that our delivery of this project would result in tangible benefits for the wider Chesterfield community. “By working with closely with the council and local community groups, we’ve been able to achieve just that. We are very proud of the impact that our charity and education work has had on the town, and the opportunities it will afford local people for years to come.” Jewson is one of the largest builders’ merchants in the UK, with nearly 500 branches located across the country. Its new branch on Sheffield Road will be a one-stop shop for tradespeople and the general public. Barry Hilling, regional director at Jewson, said: “The development of our new Sheffield Road branch in Chesterfield is part of a wider series of investments we’re making to lessen our impact on the environment, while also supporting our communities. “Jewson Chesterfield will be one of our first near zero carbon energy branches, fitted with a range of innovative technology, also available to customers through our Making Better Homes range, which will vastly reduce our carbon footprint and reliance on the energy network. We’re delighted to help support the regeneration of the local area and offer tradespeople easy access to more innovative products.” Councillor Alasdair Sutton, Derbyshire County Council’s Cabinet Support Member for Infrastructure and Environment, said: “This is an important step in the process to develop the Hollis Lane Link Road, as the old Jewson site was needed. The link road will be a key part of the plans for the station area and we look forward to working closely with Chesterfield Borough Council on this important project.” The Chesterfield Station Masterplan aims to create a welcoming first impression to Chesterfield for visitors by rail. New public realm is planned to establish a sense of arrival as is a boulevard of retail and leisure leading up to Corporation Street and the Crooked Spire. A new transport hub will make onward journeys easier, and a new cycle hub will enable visitors to hire bikes and e-bikes. The Hollis Lane Link Road will improve access to the railway station from the south and there are plans to replace the existing ‘land hungry’ surface car parks with multi-storey car parks freeing up the land for residential and commercial development. Construction work on the first phase of the Hollis Lane Link Road is anticipated to begin later this year. The Link Road is part funded through a £3.8m grant from the D2N2 Local Economic Partnership.

Press for Attention PR snaps up sponsor spot for the East Midlands Bricks Awards 2022

Tess Egginton
-
0
Press for Attention PR snaps up sponsor spot for the East Midlands Bricks Awards 2022
Press for Attention PR has joined the sponsor line up for the East Midlands Bricks Awards 2022, backing the Responsible Business award. Speaking with Business Link, Greg Simpson, founder of Press for Attention PR, said: “I am always excited to see the wide variety of entries that come in for this category and I am proud to sponsor the award that recognises companies that have demonstrated corporate responsibility. “What we are seeing on a global scale is a move to make a positive difference on the planet and in the world. That is being welcomed and embraced by employer and employee alike and will play an increasing role in purchasing, hiring and procurement decisions. CSR is not (or certainly should not be) a box-ticking exercise, it is part of being a responsible organisation and I look forward to learning more from our finalists.” The awards, which will take place on Thursday 15 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools. Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards. To submit a business or development, please click on a category link below or visit this page.
Award categories include: The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000.
Find out who last year’s winners were here.

Book your tickets now

Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on 15 September 2022 in the Derek Randall Suite at the Trent Bridge County Cricket Club 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. The event will also welcome John Forkin MBE DL, Managing Director at award-winning investment promotion agency Marketing Derby, as keynote speaker. Dress code is standard business attire.
Thanks to our sponsors:                                      

To be held at:

AR Demolition makes major investment

Tess Egginton
-
0
AR Demolition makes major investment

East Midlands-based contractor AR Demolition has announced significant investment in new vehicles and maintenance premises.

The business, recently taken into new shared ownership, has invested more than £2.6 million in new plant and HGV fleet additions, alongside new facilities at its home in Carlton near Market Bosworth, Leicestershire.

The expanded premises will be used for plant and vehicle workshop, fabrication and engineering, as well as welfare for the 12 staff based at the new facilities.

They will also be the basis for AR’s haulage activities, and will be managed by Alex Murrell, the company’s plant and logistics manager.

AR has also created a new concept in the demolition sector with the purchase of their KMC600P-7 excavator along with crane technology – uniquely adding three quick release arms is a UK first which reduces downtime on site and provides greater efficiency for client projects requiring a 34m high reach machine.

Also covered by the investment are three further new demolition excavators and the addition of new HGVs and smaller vehicles to AR’s current fleet.

Founded in 2007, AR is now under joint ownership by new Managing Director Mike Henderson and finance director Matt Munro, alongside CEO Richard Dolman.

Mr Henderson, who joined the senior management team in late 2016, said: “We are pleased that this latest stage of the development of our company is complete, and the foundations are all in place for our future.

“For the benefit of our own business but also the demolition industry as a whole, AR is determined to pioneer standards for safety, staff welfare, sustainability and innovation.

“Over several years to shape and offer our clients true enabling solutions, we have innovated with technology, engineering and demolition techniques as can be seen in our latest investment in our high-reach demolition excavator with quick release arms and attachments, a first for the industry in Britain. These solutions themselves require good maintenance to ensure they remain effective and efficient.

“Our new premises will help us ensure that standards remain high, both in how we do our work and in how we look after our staff.

“That’s a key part of how we take our company forward. Under our new joint ownership and with our expanded premises, plant and vehicles secured, the next stages of our journey have clarity and direction, with focus on key deliverables and areas of business activity.”

The investment brings AR’s total ownership to over 50 vehicles – a variety of LGV, HGV, plant and cars.

The company plans to switch its diesel vehicles to low carbon fuel in the early part of next year and is currently researching the costs and practicalities of using Hydrogenated Vegetable Oil (HVOW).

The rest of the fleet already consists of hybrid and electric vehicles, as AR bids to set an example as a sustainable demolition contractor.

Mr Henderson said: “We’re in this for the long haul and the investment in our new machinery, vehicles and facilities demonstrates the belief we have in our business and values.

“Of course as a specialist demolition contractor, it’s exciting to be continuing to add to our fleet. We’ve created a reputation for innovation and sustainability, so having modern machinery is essential for the delivery of our services.”

1...912913914...1,078Page 913 of 1,078