Unique Vale of Belvoir stables complex sold for residential conversion

A unique stables complex in the Vale of Belvoir has been sold by specialist land development and property consultancy Mather Jamie to Sheppard Developments in partnership with Gatter Capital. Situated within the grounds of Wartnaby Castle, known as the ‘Little Belvoir Estate’, the site holds an elevated position above the Vale of Belvoir. Benefitting from full planning permission for the conversion of the existing stable yard and redevelopment of existing cottages, it is anticipated that four luxury residences will be constructed to include ample garaging and home working space. Also included within the sale is a parcel of paddock land which adjoins the stables that has potential for equestrian or amenity use. Commenting on the sale, Mather Jamie senior associate director, Gary Kirk, said: “We were delighted to be instructed on such a unique site. The nature of the range of buildings and their setting presented some interesting technical challenges from a marketing perspective. We look forward to watching this site come forward and deliver new homes, which will be in high demand.” Ben Sheppard from Sheppard Developments added: “We are very excited by this latest acquisition with its unique setting and architecture. It is fantastic to be working alongside Gatter Capital on our second project together creating high end, luxury and distinctive residential properties.” Originally constructed to compliment Wartnaby Castle, the 2 acre site comprises a range of traditional buildings including the stable yard and two adjoining cottages. The Little Belvoir Estate was constructed in 1839 and was likely built as a hunting facility with the stables being an integral part of the wider Estate’s original purpose.

Major UK developer will switch on commercial strategy for transformational East Midlands scheme

The team behind the redevelopment of high-profile regeneration projects including Gunwharf Quays in Portsmouth and London’s Battersea Power Station has become commercial partner for the biggest development opportunity in the Midlands. Areli Developments, founded by Rob Tincknell, will develop the commercial strategy for three massive sites being promoted by the East Midlands Development Company, a public-private partnership backed by a consortium of local authorities and government. Areli has brought together a professional team to support a long-term programme which centres on the development of hundreds of hectares of land around East Midlands Airport, Ratcliffe-on-Soar Power Station and the Toton-Chetwynd corridor. Each site is the size of London’s Olympic Park, and it’s hoped that they will collectively generate 84,000 jobs and add more than £4 billion to the output of the East Midlands economy in the decades ahead. Some of the sites sit within the boundary of the proposed East Midlands Freeport, while government has also confirmed that HS2 trains will also come into the area. Areli has a global track record for the delivery of transformational projects, and its professional team in the East Midlands will also include architects Benoy, regeneration consultant Urban Delivery and placemaking experts MurrayTwohig. Announcing the appointment, Richard Carr, Managing Director of EM DevCo, said: “Our three sites represent one of the biggest and most ambitious development opportunities in the UK’s regions, and we expect them to have an impact at macro-economic level. “Our ambitions run deep into the quality and nature of the development we’re looking to enable, and bringing on board a partner of Areli’s calibre is a mark of how high we’re aiming.” Tincknell, whose current development portfolio includes over 8m sq ft of mixed use regeneration projects, said: “Areli Developments is thrilled to be appointed as strategic commercial partner to the EM DevCo. “Our team includes some of the leading real estate strategy specialists in the UK, all of whom are extremely excited to work with the DevCo to help create a robust and compelling vision for the future of three extraordinary projects. “One of the key workstreams we’ll be commencing over the next 12 months will be to actively engage with local communities and stakeholders to hear their views and build them into the DevCo’s ambitious plans.” The DevCo has already been appointed a Design Code pilot by government, with a remit to work with partners to ensure the development of beautiful places. Its sites will include the development of a new innovation campus, major residential development, large-scale demonstrators aimed at taking net zero technologies to market-ready status, and supporting infrastructure. EM DevCo is also working in partnership with the East Midlands Freeport, which seeks to build on the area’s status as a major trade gateway. East Midlands Airport is the biggest pure airfreight airport in the UK and it sits alongside the SEGRO road-rail logistics site.

X-ray specialists see losses widen

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Image Scan, the Leicestershire-based specialists in the field of X-ray imaging for the security and industrial inspection markets, has said the overall level of trading in its first half has been “disappointing.” However some important new customers were acquired, and a new product was launched. Revenue at the firm has declined to £790k according to interim results for the six months ended 31 March 2022. This is in comparison to £868k in the same period of the prior year. Meanwhile the company posted a loss before tax of £345k, widening from a loss of £201k. Bill Mawer, chairman and Chief Executive Officer of Image Scan, said: “The overall level of trading in our first half is disappointing, an indication of the sluggish recovery of our markets from the impact of the COVID-19 pandemic.” Mawer continued: “We look for a number of delayed government procurements for portable X-ray systems to finally close and are working hard to ensure this happens early in the second half. The slowdown in the automotive market is impacting our industrial activity, though the acquisition of a new customer in this space is a positive development.”

Nominations open: East Midlands Bricks Awards 2022

Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards, celebrating the region’s property and construction industry. Take this opportunity to shine a light on your team, reward their efforts, and boost morale. The prestigious event recognises development projects and people in commercial and public building across the region – from office, industrial and residential schemes, through to community projects such as leisure schemes and schools. To submit a business or development, please click on a category link below or visit this page.
Award categories include: Winners will be revealed at a glittering awards ceremony on Thursday 15 September, at the Trent Bridge Cricket Ground – an evening of celebration and networking with property and construction professionals from across the region. The Overall Winner of the East Midlands Bricks Awards 2022 will also be awarded a year of marketing/publicity worth £20,000. Les Needham, head of business development at G F Tomlinson, reflected on winning two awards at the 2021 event: “We are absolutely delighted to have won two awards at the East Midlands Bricks Awards this year, coming up against strong competition that showcases all the fantastic work that has been happening in the industry. Despite the challenges that COVID-19 has posed, we continued to demonstrate our credentials as a responsible Contractor on all our projects through the social value agenda, providing community benefits through local employment and training initiatives and environmental protection. “We are pleased to have been so highly recognised for this by winning Responsible Business of the Year and Overall Winner on the night, which is a true testament to our team’s hard work. We had a wonderful evening celebrating – there was a real buzz in the air and we commend the organisers for putting on such an excellent event.” 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.
Henry Brothers, winners of Commercial Development of the Year at the 2021 East Midlands Bricks Awards, reflected on the event: “Henry Brothers was absolutely thrilled to have won the Commercial Development of the Year award at the East Midlands Bricks for the delivery of the Medical Technologies Innovation Facility at Nottingham Trent University’s Clifton Campus. The Henry Brothers story began in Northern Ireland in the 1970s and the company has grown to become a leading UK construction company. However, this award for Henry Brothers Midlands cements our position as a significant member of the East Midlands construction sector and we are very proud to have been recognised for our contribution. “We enjoyed the informal atmosphere of the East Midlands Bricks Awards ceremony and hope to nominate projects next year, as we’d very much like to be part of the event in 2022.” Dress code is standard business attire. Thanks to our sponsors:                                      

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Nottinghamshire van rental company secures six figure funding to support expansion

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Nottinghamshire van rental company Newark Vehicle Hire has secured a six-figure funding package from Paragon SME Lending to help expand its fleet, including the addition of electric vans. The company has acquired eight Mercedes 315 Sprinter Vans and two Maxus Electric Vans. The latest additions bring its total fleet to 259 vehicles, including 23 electric vans. Newark Vehicle Hire has ambitions for at least half of its fleet to be electric within the next five years. The electric vans will be primarily used for delivery companies to hire on a flexible basis. The UK government has set a target that the sale of petrol and diesel vehicles will be banned by 2040. Some major manufacturers have committed to cease production of ICE vehicles before 2030. The government is also looking to reduce carbon emissions to zero by 2050, and electric vehicles will play a big role in that. Newark Vehicle Hire was established in 2013 by Managing Director Dan Fletcher and employs nine people at its base in Abbots Way. The finance package was organised through Emma Robison, a director with commercial broker BFS UK Limited. Joe Blanthorn, business development manager for the North region, led the funding on behalf of Paragon SME Lending. Dan Fletcher, Managing Director of Newark Vehicle Hire, said: “The major benefit of electric vehicles is the contribution that they can make towards improving air quality in towns and cities. With no emissions, pure electric vehicles produce no carbon dioxide emissions when driving. This reduces air pollution considerably. “We aim to be a national supplier of rental vehicles and are aware that some cities within the UK will soon have designated areas where conventional ICE vehicles will be prohibited from driving. Our aim is to meet these changes and challenges by offering a wide range of EVs to our clients, present and future.” Ashley Butterfield, Northern regional director of Paragon added: “Newark Vehicle Hire is a progressive, ambitious growth company that recognises the benefits electric vehicles will bring to our roads. We were delighted to be able to support the company through this funding package and hope to be able to assist the company further as it continues on its electrification journey.” Emma Robison said: “Newark Vehicle Hire has ambitious growth plans and its fantastic to support the company as they transition to electric. Paragon was very easy to deal with and the process was smooth.”

New commercial manager for Enrok Construction

Enrok Construction has promoted Charlotte Holyhead to the new position of commercial manager with the firm. Charlotte, who has more than a decade of experience within construction, joined Enrok as a quantity surveyor in August 2021 and has already been promoted due to the significant impact she has made on the business since her arrival. Prior to joining Enrok, Charlotte was a lead quantity surveyor for West Midlands-based Jessup Brothers. Her expertise is in new build, affordable housing, refurbishment and commercial developments. She has also won the Outstanding Achievement Award through The Royal Institution of Chartered Surveyors (RICS) and has a First Class Honours degree in Quantity Surveying. In her new role, Charlotte will direct Enrok’s commercial department, strengthen the team around her and lead on all commercial and residential developments. Enrok is currently delivering numerous multi-million pound projects across the UK, including a new 15,000 sq ft Medical Centre in Nuneaton and two residential development schemes in London, and Charlotte has played a pivotal role in their acquisition and delivery. Laura Mallisch, director at Enrok Construction, says: “Charlotte has made a big impact on the business and we wanted to develop her obvious ability by giving her more responsibility within our growing business. Charlotte’s very capable leadership skills are something we spotted early on – especially with large scale construction projects. By aligning her skill set with our ambition to continuing to grow the business, it made perfect sense for Charlotte to be given the autonomy to build and direct the future growth of the commercial department.” Charlotte Holyhead says: “My new position as commercial manager with Enrok has enabled me to build on my previous experience and put my own stamp on how things can be done, especially when it comes to ensuring that the client experience is as good as possible. I take enormous pride in prioritising the needs of every one of our clients and in giving consistent feedback on project performance from start to finish and this approach is clearly valued by our growing client base. I am excited about my new role and looking forward to playing my part in the future development of the company.”

SureScreen Diagnostics gives Matt Hancock a glimpse of the future as lateral flow tests get set for the mainstream

A “culture change” prompted by the COVID pandemic is helping to pave the way for pioneering lateral flow tests designed to check for flu and diabetes – and Derby’s SureScreen Diagnostics is leading the way. The company outlined the plans during a visit from Matt Hancock MP, who was health secretary during the fight against coronavirus and took a tour of SureScreen’s manufacturing facility last week. SureScreen is based in Derby but opened the facility, which is based at the Sherwood Business Park, Annesley, Nottinghamshire, last year in order to meet the UK and global demand for COVID-19 lateral flow tests. The LFTs are currently being supplied to the NHS and more than 60 countries worldwide, but Mr Hancock, who was accompanied on his visit by Derby North MP Amanda Solloway, heard about how SureScreen Diagnostics is already exploring new opportunities for the post-COVID world. These include kits which will enable people to test for flu, diabetes and other infectious diseases and viruses, giving them a near-instant diagnosis taking pressure off doctors and waiting times for laboratory results. SureScreen’s LFTs were the first European tests to pass the validation process in the laboratory by Public Health England and Mr Hancock was following in the footsteps of Prime Minister Boris Johnson, who visited the site last year after the Government ordered 20 million tests for its national rapid testing programme. Mr Hancock also saw SureScreen’s newest production lines, which use “spider” pick and place robots to speed up assembly of the kits. He said: “We should be incredibly proud of the diagnostics industry that’s been built in the UK over the past two years, and SureScreen is a huge part of that. To develop tests and then develop manufacturing at such speed has been a massive endeavour and everyone SureScreen has stepped up to the plate. “We have learned the importance of testing when we are ill and we can take that and learn from that for normal life now that COVID is endemic and not pandemic. There is a culture change that we should hold onto from COVID, that dictates that when we’re ill we should find out what’s wrong with us. If we do that then we’ll be a healthier nation.” Founded 26 years ago, SureScreen develops and manufactures a whole range of diagnostic tests for the health service and other industries, including drugs tests, unique alcohol testing devices for ambulances and supply of urine diagnostic tests to over half of the GPs surgeries in the country. David Campbell, a director at SureScreen, said: “Lateral flow tests have been used for many years, but such was their importance during the COVID pandemic that the spotlight has really been shone on their many applications. “Their high performance levels and the fact that people have become so used to using them offers us an opportunity to deploy LFTs in places that haven’t been possible in the past, and offer convenient ways to diagnose issues much earlier. “Although we have been focused on COVID-19 in recent months, we already have a wide array of other tests ready to go, and have built a platform for manufacture of all kinds of different tests, which will help people to take control of their health and could save healthcare millions of pounds.”

Monthly business insolvencies rise by a third

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The number of monthly corporate insolvencies has increased by over a third, and doubled since the same time last year, highlighting the enormous challenges faced by Midlands businesses as they struggle to overcome spiraling inflation and energy costs as well as the shockwaves of the pandemic. Latest Government insolvency statistics for England and Wales show that corporate insolvencies increased by 39.4% in March 2022 to a total of 2,114 compared to the previous month’s figure of 1,517, and rose by 111.6% compared to March 2021’s figure of 999. According to the Midlands branch of insolvency and restructuring trade body R3, the sharp increase in corporate insolvencies suggests that many directors have seen the current economic prospects as an obstacle they will not be able to overcome and have closed their companies ahead of time. R3 Midlands chair Eddie Williams, a partner at PwC in the East Midlands, said: “The increase in corporate insolvencies in March was driven by a rise in Creditor Voluntary Liquidations, a procedure initiated by directors of insolvent firms to close their company.  The numbers were almost 40% higher than the previous month. “These figures reflect the tough business climate in the region. Directors have gone from trying to trade through a global pandemic to trading while the costs of fuel and energy rise significantly. At the same time, employees are concerned about whether their earnings can cover the increased costs of living. Both firms and individuals have barely had time to draw breath. “As a result, business and consumer confidence is low – a situation which looks unlikely to change in the near future. R3 therefore urges any directors worried about their company’s finances to seek advice as soon as possible. “Talking about money worries can be challenging, but the earlier it is done, the more potential options there are, and the more time there is to make a decision about the future. Many R3 members offer a free initial consultation to those looking for help with their business’s finances.”

“Positive momentum” continues at Pendragon

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Pendragon, the Nottingham car retailer, has reported “a strong start to FY22,” with underlying profit before tax of £18.7m, an increase of £7.9m compared to the prior year. 

The business’s Motor Division reported an £8.2m increase in operating profit, up from £12.2m in Q1 FY21 to £20.4m in Q1 FY22. 

The firm noted that new vehicle supply remained below demand during Q1, and as a result continued to focus on maximising the level of margins achieved per unit. As a result, new gross profit per unit (GPU) at £2,456 was £975 higher than Q1 FY21, more than offsetting volume shortfalls, resulting in new gross profit up 35.4% on a like-for-like basis compared to FY21.

Used vehicles volumes were down 6.7% on a like-for-like basis as supply constraints from lower new car production since 2020 impacted on availability. Used GPU gradually softened during Q1 from levels seen in H2 FY21, but remained higher than Q1 FY21 at £1,767 (Q1 FY21: £1,095). Pendragon said: “The progress previously outlined in respect of our strategy implementation together with group sourcing advantages have helped to underpin this ongoing strong margin performance, which offset volume shortfalls, resulting in used gross profit growth of 47.4% on a like-for-like basis.”

Aftersales revenue and profitability meanwhile grew in the period, while the group’s software business, Pinewood, delivered an operating profit of £2.8m, down from £3.4m in Q1 FY21. Pendragon said this was in line with expectations, driven by increased costs, reflecting investment in resource to support product development and international expansion, together with a return to a more normal level of international travel.

The group’s leasing business, Pendragon Vehicle Management (PVM), recorded growth in operating profit.

Bill Berman, Chief Executive of Pendragon PLC, said: “The positive momentum in the business has continued into the first quarter of this year and I am very pleased with how we have performed.

“The benefits of the work we have done in the past two years to improve our operations, from vehicle sourcing through to online and in store sales practices is evident in our strong trading performance and we have seen good contributions from all parts of the group.

“While we are mindful of the pressures facing our market and our customers, we are confident in our strategy and focused on continuing to deliver profitable growth over the medium term.”

Working women face high levels of burnout despite rise in hybrid working

Widespread burnout and lack of flexible work continue to hinder working women’s career progress, according to a new Deloitte Global report: ‘Women @ Work: A global outlook’. Deloitte Global conducted a survey of 5,000 women in 10 countries, including 500 working women in the UK, to understand the impact the COVID-19 pandemic has had on women’s personal and professional lives. Stress, burnout, and limited chances to advance are driving women away from their employers. The UK survey revealed a decline in women’s mental wellbeing: 47% of women say their stress levels are higher than they were a year ago, while almost half (46%) feel burned out and 47% say their mental health is ‘poor’ or ‘very poor’. The research also found that 30% have taken time off work because of mental health concerns, yet only 45% feel comfortable talking about these concerns in the workplace. Compared to the UK and global average, the proportion of burnout is greater amongst younger women and women in ethnic minority groups (58%/51%). Women are also more likely to be looking for a new role than they were a year ago. 47% want to leave their employer in the next two years and only 9% plan to stay with their current employer for more than five years. Reasons for leaving include burnout (39%), no opportunities to advance (20%), and poor work/life balance (17%). Over a quarter (28%) rate their job satisfaction and motivation as poor or very poor and 43% feel less optimistic about their career opportunities compared to a year ago. Jackie Henry, managing partner for people and purpose at Deloitte UK, said: “These findings are alarming and the number of women reporting increased stress and burnout is of significant concern. It is clear that employers are struggling to address the issue with burnout being the top driver for those women currently looking for new employment. The findings of this research show the importance of actions beyond policy—those that truly address and embed wellbeing, flexibility, and a respectful and inclusive ‘everyday culture’.” Harassment and microaggressions are on the rise—and often go unreported. 56% of women have experienced harassment and microaggressions over the past year at work, an increase since the 2021 report (52%). Only a small proportion of these behaviours are reported (33%) and women still fear reprisals for speaking up: 26% did not think they would be taken seriously and 16% were concerned the behaviour would get worse. Women from ethnic minorities are more likely to experience non inclusive behaviours, such as someone taking credit for their idea (14% vs 10%) and repeated disparaging comments about their gender (9% vs 3%). Flexibility remains limited and hybrid work presents additional challenges. Many organisations have introduced flexible and hybrid work models, although many women report they have yet to feel the benefits of these new ways of working. Only 37% of women say their employers offer flexible working policies, and when asked about policies introduced by their organisation during the pandemic, only 23% mentioned flexibility around where and when they work. 95% of respondents believe that requesting flexible working will affect their likelihood of promotion. Women who have changed their working hours since the start of the pandemic or work part time are much more likely than those who haven’t changed their hours to feel burned out, stressed, less optimistic about their career prospects, and less comfortable talking about mental health in the workplace. 66% of women who have changed their working hours say their stress levels are higher than a year ago, compared to 22% who have not changed their working hours. Hybrid working presents additional challenges. The implementation of hybrid work has presented additional challenges. This year’s survey also found that women who work in a hybrid way are significantly more likely to report experiencing microaggressions (66%) than those who work mainly in their workplace (29%) or in a remote way (45%). 52% of women who work in hybrid environments feel they have been excluded from important meetings, and 42% say they do not have enough exposure to leaders, a critical component of sponsorship and career progression. Worryingly, hybrid work appears to not be delivering the predictability that women with caring responsibilities may need, with only 34% saying their employer has set clear expectations when it comes to how and where they are expected to work. Henry adds: “Many employers have implemented new ways of working designed to improve flexibility, but this research shows that the new arrangements run the risk of excluding the very people who could most benefit from them, with the majority of the women we polled having experienced exclusion when working in a hybrid environment. Demonstrating the need for organisations to listen to their people. Building and maintaining a truly inclusive culture should be at the forefront of every corporate agenda. People need to feel like they belong and their different backgrounds and individual circumstances are respected. “Organisations need to address burnout, make mental wellbeing a priority, and approach hybrid working with inclusive and flexible policies that actually work for women. There is a unique opportunity to build upon the progress already made to ensure women of all backgrounds can thrive in an equal and inclusive workplace.”