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113,000 sq ft let at Derby’s Dove Valley Park
A 113,000 sq ft property at Dove Valley Park, Derby, has been let to an unnamed occupier.
The property is part of the Axis Portfolio created by Hines, a global real estate investor, comprising eight new industrial and logistics facilities across the East Midlands. Six of the eight properties comprising over 800,000 sq ft are now let, the latest letting being DVP 113, measuring 113,137 sq ft, at Dove Valley Park, Derby, which completed in June.
Dove Valley Park is a 200 acre industrial/distribution development. It provides over 1.75 million sq ft of accommodation and current occupiers include JCB, GXO, Futaba Industrial, MEG and Truma. The Axis Portfolio comprises three speculatively built units on Dove Valley Park of 113,000 sq ft, 152,000 sq ft and 196,000 sq ft.
Mickey Scott, director at Hines, said: “We are delighted to complete the lease on this top quality building to a strong tenant, and we look forward to seeing them operating from the unit.”
The agents are FHP Property Consultants and Cushman & Wakefield. In a deal arranged by the FHP team of Darran Severn, Tim Gilbertson and John Proctor, they commented: “It has been great working alongside Hines on this scheme.
“We initially set out to raise the profile of Dove Valley Park across the region, building on the quality of the existing occupiers and its accessible location between the M1 and M6. Dove Valley Park appeals to both local and national occupiers given its central location with the North West, West Midlands and East Midlands all within a 1 hour drivetime.
“Not only does the location offer cost effective warehousing, but the local towns and cities of Derby, Burton on Trent, Uttoxeter and Stoke on Trent provide a good supply of accessible labour.
“With strong take-up across the East Midlands throughout the first quarter of 2025, there remains little stock between 100,000ft² and 200,000ft² within our area. As a result, the remaining two buildings at Dove Valley Park are receiving good interest from both distribution and manufacturing occupiers.”
BRUSH to be acquired by energy investor
BRUSH Group, a Loughborough-based engineering solutions provider for UK electrical infrastructure projects, is set to be acquired by funds managed by Greenbelt Capital Management L.P., from funds managed by OEP Capital Advisors, L.P (One Equity).
BRUSH has contributed to the UK’s electrical energy infrastructure for almost 150 years and operates from multiple locations across the UK as well as in Italy.
BRUSH is a provider of power transformers, electrical switchgear, and engineering solutions for the transition to net zero, and this transaction will see the firm build on the strong and sustained growth it has achieved in recent years, with reported revenue of circa £150 million annually.
Nicolas Pitrat, CEO of BRUSH, said: “This deal represents a brilliant opportunity for BRUSH. From the outset, Greenbelt has liked what we do, and they are committed to supporting us as we continue to build on our enviable reputation for engineering excellence and technical know-how.
“What makes this deal genuinely exciting is that Greenbelt has a wealth of expertise in the energy sector and are experts on growing businesses operating within the energy transition.
“On behalf of the BRUSH team, I would like to thank One Equity, who have been transformative for BRUSH over the last four years. We now look to the future with a new partner who are primed and ready to take us to the next level as we continue to deliver ever-more innovative and customer-focused solutions.”
Andy Hopping, partner at Greenbelt, said: “Grid enablement and energy resilience are core themes at Greenbelt. We believe BRUSH plays a vital role in enabling the UK’s evolving electricity infrastructure—providing the equipment and engineering expertise needed to integrate renewables, upgrade aging assets, and meet rising demand.
“We are excited to partner with BRUSH’s seasoned leadership team and bring our sector experience to help support the company’s next phase of growth.”
Speaking on behalf of One Equity, Ori Birnboim, partner, said: “One Equity is proud to have supported BRUSH through a remarkable journey of strategic growth since 2021.
“We thank Nicolas, the entire management team, and all of BRUSH’s employees for their unrelenting commitment to delivering best-in-class solutions for customers while keeping to their core values of safety, quality, and customer satisfaction.”
Nottingham Venues unveils £1m revamp of Orchard Hotel and Bramley’s Restaurant
Nottingham Venues has officially revealed the results of a £1 million transformation at its flagship Orchard Hotel and Bramley’s Restaurant, delivering a bold new experience in the heart of the University of Nottingham campus.
More than just a refurbishment, the redesign, led by the visionary team behind The Hoxton and brought to life by Wellbrook, has completely reimagined how guests interact with the space. The moment visitors walk through the doors, they’re welcomed into a warm, design-led environment where business, leisure, and culinary moments seamlessly blend.
The hotel’s ground floor has been reshaped into a series of inviting spaces. Guests can now enjoy a fluid journey from a relaxed morning coffee in the light-filled lobby, to an afternoon catch-up over cocktails at the expanded bar, through to a refined dining experience at the completely reimagined Bramley’s.
The bar itself, now repositioned and extended, sets the tone with a modern edge and social energy, ideal for unwinding after a conference, meeting friends, or enjoying a casual evening drink. A streamlined check-in area at the heart of the space enhances the arrival experience, ensuring guests feel at ease from the outset.
Bramley’s Restaurant is at the centre of the transformation. With acclaimed chef David Cartwright (formerly of World Service) at the helm, the restaurant has emerged with an ambitious new identity — one rooted in quality, locality, and creativity. The new menu celebrates carefully sourced ingredients, most from within a 30-mile radius, and showcases Cartwright’s refined culinary vision. The result? Elevated dishes that earned Bramley’s its first AA Rosette within months of relaunch.
“This isn’t just a renovation, it’s a reinvention,” said Peter Bartlett, general manager of The Orchard Hotel and East Midlands Conference Centre. “We’ve created a destination. Whether you’re here for a conference, a weekend stay, or a special meal, the experience is now elevated at every touchpoint.”
Tom Waldron-Lynch, CEO of Nottingham Venues, added: “For too long, Bramley’s was a hidden gem. Now, we’re putting it on the map. This is a space for great food, great drinks, and above all, great experiences.”
This transformation is also rooted in a deeper purpose. Nottingham Venues has ensured sustainability stayed front and centre throughout the project — repurposing or donating much of the existing furniture to the University and other venues within its portfolio.
Gusto Group issues growth shares to all employees
East Midlands family-owned business Gusto Group has issued Enterprise Management Incentives (EMI), otherwise known as ‘growth shares’, to its 150 employees as part of its transition to an Employee Ownership Trust (EOT).
The shares were issued during the week leading up to Gusto Fest – the company’s annual community celebration of its employees, which took place on Saturday 21st June – and are aimed at building a legacy for those who will be creating the company’s future successes and providing employees with a tangible recognition of their service.
Chairman Steff Wright says of the decision: “I wanted to find a way for the employees that have worked so hard to build Gusto Group into a £25 million business, to be the ones to benefit from its continued growth.
“Ultimately, we want employees to feel invested in and committed to our collective success and by granting workers the opportunity to become shareholders, we hope to build a stronger sense of unity, motivation and accountability throughout the organisation.
“As they arrived at Gusto Fest, every employee was given a ‘Gusto Employee Owner’ hat – a symbol of our shift towards employee ownership. From now on, we’ll all be wearing our ‘employee owner hats’ when it comes to making decisions about the future of the business.”
All employees, from new starters to those that have been with the company for many years, have now been allocated growth shares to encourage business growth before the Group transitions to an EOT on 31st March 2027. Over the next nine to 12 months, any new starters joining the company will also be entitled to shares.
Gusto Group is comprised of several B Corp accredited companies operating in the manufacturing, construction and architecture sectors, including: Gusto Construction, Rototek and Studio-G.
All employees will have the opportunity to sit on the trust board, ensuring that there is representation and perspectives from all arms of the business as to how the company is run.
Rushton Hickman expands management portfolio
The Rushton Hickman Property Management team have secured the management of 1-19 Commercial Road, a purpose-built retail block in Bulwell town centre.
Extending to approximately 17,559 sq ft, this site comprises six retail units and a self-contained first-floor office. The retail units are all currently occupied by a diverse mix of local businesses.
Jade Martin, associate director, said: “The team are excited to take on the management of 1-19 Commercial Road and we look forward to leveraging our expertise to support our new client and their tenants.”
Richard Fairey, director at Rushton Hickman, added: “Taking on the management of this site is a fantastic opportunity for us and our approach will focus on fostering strong relationships with all parties involved.”
East Midlands auditor promoted to director at Ashgates
An East Midlands auditor is celebrating 18 years at Ashgates by being promoted to director.
Arron Anderson, who started as a trainee in 2007, joins the senior management team at an exciting time in Ashgates’ expansion after it joined the accountancy and professional services group, DJH, last year.
The business achieved its best-ever twelve months after it exceeded £7m of annual revenue and aims to continue growing its SME and owner-managed client base.
Promotion is a just reward for Arron, who began his journey as a trainee accountant in the accountancy and business services (ABS) department, successfully passing his final ACCA exams in 2013 and moving to manager three years later.
Prior to becoming a director, the Derby-born finance expert has been a successful senior manager, working closely with the directors to strengthen client relationships and support the firm’s expansion in the region.
“This is a very special moment, and I’m thrilled to be joining the senior management team at Ashgates to support our next chapter with DJH,” said Arron, who is a football coach for his daughter’s football team in his spare time.
“We pride ourselves on being more than just ‘number crunchers’ and instead prefer to look at how we can become an extension to the management teams of our clients – guiding them through an extremely complicated economic landscape and, importantly, helping them to achieve their goals.
“As Director, I will continue to support the wider ABS team at Ashgates, whilst taking on more responsibility as a key contact for several clients. There is also an emphasis on attracting new clients and enhancing the advice and support we offer through DJH’s specialist service lines, and that’s something I’m keen to contribute to in my new role.”
David Newborough, director at Ashgates, added: “Arron has been a great performer at each level of his progression through our business and fully merits his promotion to Director.
“His expertise in auditing and seeing the ‘bigger picture’ for our clients has been instrumental in us building several strategic relationships with key East Midlands employers and now is the right time to take this to the next level.”
Greater AI adoption will drive local growth say East Midlands businesses
The majority of East Midlands firms believe AI adoption will be a key growth driver in their local economy, according to Lloyds’ Business Barometer, as many report AI-related increases in productivity and profitability.
Nearly two-thirds (65%) of East Midlands firms believe greater AI adoption will be a major driver of local economic growth.
Of the 71% of East Midlands businesses that already use AI, 81% have seen it increase their productivity, and 75% say it has improved their profitability. Firms are most commonly using AI platforms to improve efficiency (67%) or to analyse data and make better-informed decisions (36%).
Looking ahead 58% of businesses in the region plan to invest more in AI over the next year, with just over a fifth (21%) of non-adopters planning to use the technology for the first time. More than half (56%) of businesses also plan to introduce new AI skills training for staff, while 46% will expand existing training programmes.
Firms said the desire to grow their client base (47%) or to drive new or further productivity increases (42%) were the biggest drivers behind their future investment plans. Companies also said that having a better understanding of AI and its benefits (37%) and inspiration from other firms (31%) would help facilitate even more investment.
The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide.
Dave Atkinson, regional director for the East Midlands at Lloyds, said: “AI is already making a real difference for many East Midlands businesses, boosting productivity, increasing profitability, and helping leaders make smarter, faster decisions. And businesses clearly see how these advantages could support wider economic growth.
“With one in five non-adopters expected to be using the technology this time next year, momentum is clearly building. Sharing knowledge, skills and experience will help maximise its potential.”
More than £90m of equity investment raised by East Midlands smaller businesses in 2024
More than £90 million of equity investment was raised by smaller businesses across the East Midlands in 2024, according to the British Business Bank’s annual Small Business Equity Tracker. The region accounted for 2.9% of all equity investment activity by the Bank between 2022 and 2024.
The East Midlands was one of three regions to experience growth in both deal numbers and investment value across the UK along with Scotland and the North West in 2024. This increase in investment came through 55 deals with the value of equity investment increasing by 26.1% and the number of equity deals increasing by 7.8%.
Region feels positive impact of the Midlands Engine Investment Fund II
Across both the East and West Midlands, the Midlands Engine Investment Fund II committed over £17m in the Midlands in this time period, leveraging a further £10m from the private sector to help the region’s small and medium-sized businesses.
Record breaking year for university spinouts
A number of East Midlands universities are known for generating university spinouts, including the University of Nottingham, University of Leicester, Loughborough University, and University of Lincoln. These institutions actively support the commercialisation of research and intellectual property through spinout businesses and are developing cutting-edge technologies in sectors such as healthcare, agriculture and the environment, digital, and manufacturing.
Nationally, university spinouts raised £1.9bn in equity investment in 2024, equivalent to 17% of total investment across the UK, and accounted for a record share of deals (12%).
Spinout companies raised larger rounds with the average deal size for spinouts reaching £8.0m in 2024, more than a third larger than the overall UK average, indicating investor appetite for backing innovation. Investment in spinouts increased by 4% in 2024, despite a decline in investment across the wider equity market.
Vicky Mears, UK network director, North of England and Midlands at the British Business Bank, said: “The potential of the East Midlands is clearly seen in the significant rise in both investment value and deal numbers here over the last year. Investment values climbed by more than a quarter while deal numbers showed marked growth.
“These results demonstrate the strength and resilience of the East Midlands market. The region’s firms can be buoyed by these results and be confident that their growth plans can be backed in the region by the Bank and its networks including vital angel investors.
“The East Midlands is supported by a strong eco-system that continues to mature and provide opportunities. From our universities and their spin-out pedigree to our funding networks, and the backing of the Midlands Engine Investment Fund II, firms here can be inspired and supported.”
Business angels vital for early-stage equity investment
Business angels continue to be a significant source of equity investment for start up and early stage businesses with 70% of angels investing in early-stage businesses. The Small Business Equity Tracker found that two-thirds (64%) of respondents to the Bank’s survey of UK angel investors have matched or increased their investments from 2023 to 2024.
Where angels reported ‘backing underrepresented groups positively impacted investment decisions’, they were most likely to invest in female entrepreneurs, followed by entrepreneurs from ethnic minority backgrounds. More than a quarter (26%) of businesses backed by angel investors were led by all-female founders, up from 12% in 2019, further indicating increased focus on female founders.
UK investment gap with the US driven by sectors such as life sciences and advanced manufacturing
The UK had a 10% investment gap with the US between 2022-2024 after adjusting for the size of the economy. Looking across sectors, the UK is outperforming the US in financial services and clean energy, and is only marginally behind in digital technology. However, there are more acute gaps in life sciences and advanced manufacturing, two of the growth-driving sectors identified for investment as part of the UK’s modern industrial strategy.
Nottingham tackles fuel poverty with cutting-edge tech collaboration
The University of Nottingham has teamed up with E.ON to address fuel poverty using advanced digital technology. This innovative partnership aims to use a detailed 3D map of Nottingham to identify households most impacted by fuel poverty, helping to develop more affordable and sustainable energy solutions.
The collaboration centres around the university’s City as Lab initiative, which leverages data-driven tools to address real-world challenges. The university’s award-winning 3D city model, the Projection Augmented Relief Model (PARM), combines census data, geography, and historical architecture to create a detailed digital representation of Nottingham. This cutting-edge technology allows stakeholders to pinpoint areas where fuel poverty is most prevalent and simulate energy solutions in real-time.
E.ON’s data, including Energy Performance Certificate (EPC) and income details, is being fed into the digital twin to help test, simulate, and implement smarter energy systems. The project is focused on finding practical ways to reduce energy costs for underserved communities, targeting areas where households struggle to afford heating and energy.
Nottingham, which has one of the highest child poverty rates in the UK, will benefit from the partnership’s efforts to improve energy access. The city, ranked as the poorest in the UK based on disposable household income, is now positioned as a pilot for scalable, sustainable energy solutions.
This collaboration is testing smart energy-sharing initiatives, more efficient home energy upgrades, and accessible solar energy options. The project’s broader goal is to create a model that can be adopted by cities across the UK, working towards a fairer, greener energy system.
Industrial Strategy provides Fusion and Trent Valley Super Cluster boost
Bassetlaw District Council has welcomed proposals set out in the Government’s Industrial Strategy that could boost the development of the Clean Energy Super Cluster sites of former power stations along the Trent Valley in Bassetlaw.
As well as locking in the commitment to investing in Fusion through the STEP project at West Burton, the Government has also announced The Strategic Industrial Sites Accelerator.
This will identify and prepare strategically significant industrial sites in the Industrial Strategy’s growth-driving sectors such as Clean Energy Industries to attract major investment. It addresses specific barriers to these sites through support on land remediation, grid connections, transport, and planning.
Councillor Charles Adams, cabinet member for business and skill at Bassetlaw District Council, said: “It’s great to see the STEP Fusion project at West Burton in Bassetlaw feature as a case study in the Government’s Industrial Strategy and that the Government’s commitment to the UK’s fusion energy programme can drive economic growth not just in Bassetlaw, but across the wider region.
“I particularly welcome the announcement of the new Strategic Industrial Sites Accelerator and we look forward to working with the Government on this so we can bring forward the delivery of the opportunities identified through the Trent Valley Super Cluster study.
“What this means is that the Government is going to make it easier to redevelop areas like the power station sites and make them more attractive for investment. Working with partners like Mayor Claire and EMMCA the Super Cluster has the potential to become the UK’s clean energy Silicon Valley.”
