Flex office operator continues rapid expansion

Tess Egginton
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Flex office operator continues rapid expansion
Cubo, the Derby-based flex office operator, has opened the doors to its first ever workspace in Scotland – a new 16,000 sq ft workspace at 40 Princes Street, a Grade A office building in the heart of Edinburgh city centre. The new Cubo centre offers office accommodation arranged over two floors, with 360 desks available. Features include a reception area with custom-made desks and walls, bespoke furniture, glass lifts, on-site showers, and cycle racks. Princes Street is Edinburgh’s most sought-after location with high-end boutiques and department stores alongside world class dining, artisan coffee shops and places to stay. It is also a short stroll from St James Quarter, a retail led, lifestyle district, and is adjacent to the city’s Waverley mainline station. Earlier this year, Cubo, which was launched by property investors Marc and Rebecca Brough, set out plans to open four new workspaces by the end of 2023. Cubo Edinburgh will be its seventh site, with a Manchester site to be announced shortly. Marc Brough, CEO at Cubo, said: “We are delivering on our plans to roll-out the Cubo brand nationally and are excited to have launched our first flex office space in Scotland, and in what we believe is Edinburgh’s most amazing office location. “Edinburgh is a city with little Grade A supply, but the setting, location and quality of 40 Princes Street blew us away when we first saw it. With its unrivalled location in one of the city’s premium office buildings, proximity to the train station and strong retail neighbours, it is the ideal home for many growing businesses. “The new space continues our rapid expansion and reinforces our commitment to opening in the very best locations across all the UK’s core cities.”

New specialist housing scheme gains council support

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New specialist housing scheme gains council support
Blaby District Council is supporting a unique development which will provide specialist, supported housing for adults with mental health needs. Together with Homes England the Council has partially grant funded a scheme to bring 15 one-bed self-contained apartments to Blaby village. The project is being delivered by developers Pelham working in partnership with Norton Housing and Support and Modus Partnerships. This is the first affordable supported housing scheme to be brought forward in the District for some time and will meet a demand recognised by the Council. The scheme has been four years in the making and the Council’s Strategic Housing Team have worked closely with partners to progress the project, including providing evidence of the need for the scheme and liaising with planners in order to make sure any site constraints were overcome. The funding from the Council and Homes England was instrumental in ensuring the viability of the development. Councillor Terry Richardson, Leader of Blaby District Council, said: “This is a fantastic example of partners working together to deliver a project which we hope will change the lives of people in the District. “We have recognised for some time there was a lack of supported accommodation for adults with mental health needs. These apartments should help bridge that gap and we are pleased to have been instrumental in ensuring the development gets off the ground.” The apartments will be let at social rent and owned and managed by Norton Housing and Support. The Leicestershire-based charity and registered housing association supports adults with mental health needs and women at risk of homelessness. The site, off Grove Road in Blaby, is Norton Housing and Support’s first purpose-built development scheme. Pelham are working with them as development agents to support this small housing association bring their home-building ambitions to life. The new self-contained homes will offer residents an enhanced housing management support service, to enable independent living for people in need. Councillor Les Phillimore, Blaby District Council’s Portfolio Holder for Community, Housing and Environmental Services, said: “We are delighted to be supporting this new housing project which will provide much-needed, supported accommodation for some of the most vulnerable people in our society. “The scheme is a fantastic example of organisations working in partnership to deliver first-class facilities for our communities. We all look forward to seeing the accommodation completed, welcoming the new residents and to seeing them thrive on their journey to independent living.” Sue Cowling, Chief Executive at Norton Housing and Support, said: “While Norton has been supporting people with mental health needs in the Leicester and Leicestershire area for over 38 years, this will be our first new build scheme and first development of this size.” Modus Partnerships have worked with Leicestershire-based IMA Architects in designing the two modern, two-storey blocks that will blend into the local environment and respect neighbouring properties. The development is expected to be completed in spring 2024.

Director steps up digital agency role

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Director steps up digital agency role

Strategic marketing agency Purpose Media has announced that Steve Hall is stepping up his involvement with the company and taking on a new role as communications director.

Steve, who has enjoyed a 40-year career in the media industry, has been a non-executive board member with the firm for two years but will now take on operational responsibilities, including oversight of content services.

The former editor and managing director of the Derby Telegraph and editor-in-chief of the Nottingham Post and Leicester Mercury is relishing the opportunity to assist the agency’s continued growth and development.

“During my time as a non-executive director, I have been hugely impressed by the Purpose Media team’s commitment to achieving outstanding results for clients,” he said.

“Their strategic approach to meeting customers’ marketing objectives and demonstrating return on investment helps them to stand apart from their peers and to build long-lasting relationships which really deliver.”

Steve will carry out his role at the South Normanton-based agency alongside existing commitments as a director of Marketing Derby and chair of Derby County Community Trust.

Purpose Media managing director Matt Wheatcroft believes Steve’s sector experience and business network will be a huge benefit to both the company and its clients.

“Steve’s expertise and track record of success further strengthens our ability to provide customers with impactful solutions across web, creative, video and digital marketing, using insights and technology to bring their visions to life and help achieve their business objectives,” he said.

Regeneration of Northampton takes step forward as designers and engineers sought to develop vision for Greyfriars Bus Station

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Regeneration of Northampton takes step forward as designers and engineers sought to develop vision for Greyfriars Bus Station
The regeneration of Northampton Town Centre has taken a step forward as West Northamptonshire Council (WNC) seeks designers and engineers to develop the vision and plans for the former Greyfriars Bus site. Greyfriars is the largest brownfield opportunity within West Northamptonshire and represents a significant opportunity to deliver a large-scale development in this area. The site boasts a prime location at the heart of town, next to the ongoing transformation of the historic Market Square and redevelopment of the former Marks and Spencer’s and BHS units. The central location provides a unique opportunity to transform this part of the town centre and have a positive impact on the wider area. The project is in its initial stages, as WNC seeks to work with experts to develop a masterplan and vision for the area which will outline how this can meet the needs of the local community and businesses. It is proposed that the initial outline plan will deliver new high-quality homes, commercial uses, a new park, leisure facilities and a new coach interchange. A core element of the proposals is to improve connectivity within the surrounding area and provide enhanced walking, cycling and vehicle routes. Cllr Dan Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth at WNC, said: “This is an exciting step to transform the Greyfriars Bus site as we seek to bring on board a consultant to develop a vision and plans for the area. As part of this, we will engage with the local community and businesses through a public consultation. “The project has the opportunity to deliver a step change for the area, increasing footfall to support local business, attract new inward investment and create a place where all can be proud of. We look forward to working with our residents and businesses to bring them along this journey with us.” Organisations have until the end of July to submit their interest in working with WNC to develop the vision for the area. As part of the next steps, WNC will seek to work with a highly experienced multi-disciplinary team of architects, transport and commercial experts.  Evaluation will take place over August with the team being appointed in September with a view to develop a vision by spring 2024.

Multi-million pound UK space industry investment agreed in Leicester

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Multi-million pound UK space industry investment agreed in Leicester
One of the world’s largest IT and business consulting firms has pledged £2.6 million worth of support to a major research project which is bringing together industry and academics to drive forward the evolution of the UK space sector. CGI has committed to the funding through in-kind contributions to the University of Leicester’s Manufacturing, Engineering, Technology and Earth Observation Research Centre (METEOR) over the next five years. Both organisations have bases at Space Park Leicester and signed an agreement to officially formalise the funding pledge at the world-leading research centre. The agreement builds on CGI’s extensive expertise in Earth Observation data management and the University’s decades of heritage in EO science. President of CGI’s UK and Australia operations Tara McGeehan said: “METEOR is a space research and innovation facility that brings together more than one hundred researchers and industrial research and development personnel working on the primary research challenges to the evolution of the space sector into a new era. “We’ve been proudly working with METEOR since its launch and are delighted to make this formal commitment to them today as part of our continued investment in the UK’s space sector.” CGI’s commitment to METEOR will enable the facility to use the company’s cloud-based GeoData360 platform, which allows organisations to manage and distribute large volumes of Earth Observation and Geospatial data, develop and run industrial-scale pre-processing and post-processing pipelines, and visualise complex geospatial data-sets. Academics will be able to develop, share and run science algorithms efficiently, taking advantage of cloud-native scaling. CGI’s contribution will also support METEOR through a mix of technical support, data and collaborative activities. In one recent exemplar project, CGI and the University of Leicester jointly developed a new wildfire burnt-area detection system based on machine learning. Kevin Tansey, Professor of Remote Sensing at Space Park Leicester, said: “There are strong synergies between the styles and values of our two organisations and we’re thrilled to enter into this agreement with CGI. “We have already started to work with CGI’s powerful GeoData360 platform in projects funded by the European Space Agency and Research England (SPRINT), to deliver the outputs of novel algorithms to our stakeholders. “Earth Observation data is fundamental to tackling many of today’s issues relating to climate change and contributing to sustainable environment futures. The challenge facing researchers is to manage complex processing on large volumes of Earth Observation and geospatial data in a secure environment. “Looking forward, this platform offers our students, especially those on our MSc in Satellite Data Science, a way to think about how their ideas can be deployed on GeoData360 in a cloud-based system as a service concept. “GeoData360 offers users the facility to interact with these services and provide critical feedback. Importantly, CGI can support the user engagement and explore commercial pathways. “We’ll use GeoData360 across our teaching and research activities at the University of Leicester to build a pipeline of prototype services whilst also developing important skills: cloud processing, business development and stakeholder communications, in the student cohort.” The signing event with Professor Nishan Canagarajah, President and Vice-Chancellor at the University of Leicester and Tara McGeehan, included a showcase of work that has been performed using GeoData360 and an overview of the Sustainability Exploration and Environmental Data Science (SEEDS) programme which is supported by METEOR and the University of Leicester. SEEDS is backed by the United Nations and is accelerating efforts to address climate change and strengthen research for the environment and communities. The research and technologies being developed through SEEDS are spurring low-carbon solutions and innovations and are supporting the creation of new low-carbon business models. METEOR Programme Manager, Dr Stephen Wright added: “Access to GeoData360, and working with the CGI team will enhance our ability to deliver new research and real world impact at an accelerated rate. It will also make available an important tool to our students for their projects, and can provide the opportunity for them to work with an important international company.” METEOR received funding of £13.75m for a 5,000m2 research and innovation facility from Research England, through its capital infrastructure mechanism, UK Research Partnership Investment Fund (UKRPIF).

Sales grow at Topps Tiles

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Sales grow at Topps Tiles

Sales are on the up at Topps Tiles, the Leicestershire tile giant, according to a new trading update for the 39-week period ended 1 July 2023.

Trading in the third quarter saw “a continuation of the good performance” reported for the first half, with with total sales growth of 4.4% against last year. For the year-to-date 39-week period, meanwhile, total sales growth was 7.6% year on year.

The businesses is also “confident that adjusted profit before tax in the second half will be materially higher than the first half,” and that Topps Tiles will perform in line with market expectations for the year as a whole.  

Rob Parker, CEO, said: “As we celebrate our 60th anniversary, we are pleased to be reporting a continued robust performance in the third quarter, led by Topps Tiles and Pro Tiler Tools, and the successful implementation of a business improvement plan at Parkside.

“Looking ahead, we are confident that our core strengths of leading brands, world class customer service, specialist expertise and a strong balance sheet will enable us to continue to deliver value for all stakeholders.”

Revenue rises at Mattioli Woods

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Revenue rises at Mattioli Woods
Mattioli Woods, the specialist wealth and asset management business, has hailed revenue growth in a new trading update in advance of final results for the year ended 31 May 2023. Revenue was up 3% on the prior year, while profit for the year is in line with expectation. The update follows the acquisitive Leicester firm swooping for Doherty Pension & Investment Consultancy Limited and a 50.1% stake in White Mortgages Limited in the period. Ian Mattioli MBE, Chief Executive, said: “I am pleased to report further growth in revenue, which was up 3% on the prior year despite the sustained market and economic complexity that has been a feature of the recent global economy and continues to affect the value of clients’ assets.” He continued: “Our trading outlook for the new financial year is focused on securing organic growth complemented by strategic acquisitions, with targeted investment to create capacity, improve operational efficiency and enhance our clients’ experience. “Whilst inflationary cost pressures and investment in our strategic initiatives may impact margins in the short term, we are confident that we will continue to deliver attractive, long-term sustainable shareholder returns.” Mattioli Woods also announced the appointment of Michael Wright as Deputy Chief Executive Officer. Ian Mattioli said: “The Board regularly reviews the suitability of the Group’s governance structure, and reflecting the expansion of the Mattioli Woods proposition and increased size of the Group, the Board are pleased to announce the appointment of Michael Wright as Deputy Chief Executive Officer. “In this new role Michael will lead and support the delivery of certain strategic goals alongside the executive team, whilst retaining his current responsibilities. Michael was previously appointed Group Managing Director in 2019, and has been on the Board since 2021, having joined the Group 19 years ago and holding several senior advisory roles during this time.”

£25m build-to-rent loan secured for Leicester residential scheme

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£25m build-to-rent loan secured for Leicester residential scheme
Working in conjunction with the Housing Growth Partnership (HGP) and Pluto Finance, MAF Finance Group (MAF) has helped secure the completion of a £25m build-to-rent loan for Monk Estates, enabling the property developer to create 171 homes at a historic site in Leicester. The build-to-rent (BTR) loan will be instrumental in supporting the repurposing of an Edwardian factory and the construction of two interconnected new build apartment blocks. Spanning four storeys, the redeveloped former hosiery factory will be transformed into a modern and stylish residential hub, blending heritage with contemporary design. Adjacent to the factory, the two interconnected new build apartment blocks have been designed to integrate with the existing structure, enhancing the development’s architectural appeal, and helping to reduce overall massing. Upon completion, the development will feature 171 residential units, as well as an associated commercial unit which will be available to serve both residents and the surrounding community. MAF Finance Group co-managing director Dave Chapman said: “Both our property director Paul Delaney and I are extremely pleased to have been involved in arranging the funding and introducing the client to HGP and Pluto Finance, working with all parties, to structure this exciting deal. “This is the second transaction in the build-to-rent sector in which we have assisted Robert and Sam Monk of Monk Estates, and we look forward to seeing the Hylyfe Leicester scheme flourish alongside Hylyfe Nottingham which is already progressing well.” Monk Estates director Sam Monk added: “Despite a very challenging market within the finance sector, MAF has once again provided us with top tier service and advice throughout the entire process, from early feasibility through to completion. “The company has been instrumental in providing us with both initial and long-term development funding, helping us to achieve our goal of creating 1,000 apartments, developed, managed and retained.”

PwC Midlands makes record round of partner and director promotions

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PwC Midlands makes record round of partner and director promotions

PwC Midlands has made a record round of partner and director promotions, with seven Midlands directors admitted into the Partnership, and 18 senior managers promoted to director, across all lines of services.

The seven Midlands partners, over half of whom are women, join a total of 74 new partners admitted across PwC in the UK, taking the partnership to over 1,000 partners for the first time.

The new Midlands partners are part of over 400 promotions made across the region, including 33 senior managers and 57 managers.

Matthew Hammond, PwC UK Midlands regional market leader & Birmingham senior partner, said: “This year we have made a record investment in new partners and directors in the Midlands. Many of these colleagues have grown a career with PwC straight from university or via apprenticeships, highlighting our commitment to our people’s development.

“Each brings a wealth of knowledge to help our clients achieve their business goals and navigate complex problems. Congratulations to all our new partners and directors, and to each of our 400 Midlands team members who are celebrating much deserved promotions.”

Partner admissions in the Midlands are:

  • Rachel Cletheroe, Audit

  • Rebecca Elnaugh, Deals

  • Sally Graham, Deals

  • Amy Johnson, Tax

  • Ajay Kabra, Audit

  • Dan Packwood, Tax

  • Matt Palmer, Audit

Rachel Cletheroe, Audit partner, joined PwC in 2006, straight from university. Rachel has held a number of roles including secondments with clients. Rachel’s focus is on leading large international corporate audits, as well as being a mental health advocate for the firm, supporting the wellbeing of colleagues across the business.

Rebecca Elnaugh, Deals partner, joined PwC in 2021 and has specialised in valuations for 15 years. Rebecca focuses on mid-market private equity clients working with them to enhance value through the design, implementation and valuation of management incentive plans.

Sally Graham, Deals partner, Joined PwC in 2006 from university and is a specialist in PwC’s Sale and Purchase Agreement (SPA). Sally focuses on helping private equity and corporate clients across a range of sectors and deal sizes to maximise and protect value through their M&A transaction pricing mechanisms.

Amy Johnson, Tax partner, joined PwC in 2003, having been introduced to the firm in 2001 through a university internship. Amy has held a number of roles, starting in employment taxes and now specialising in corporate tax. Amy works with private equity backed businesses, helping them to navigate the complexities of the international tax environment and supporting management to maximise the value of their businesses.

Specialising in financial services, Ajay Kabra, Audit partner, began his PwC career at PwC India and joined the UK firm in 2011 on secondment. Ajay made the move permanent and has worked across multiple sectors including manufacturing, automotive and now financial services. Ajay’s diverse experience brings different perspectives to provide clients with the best service.

Dan Packwood, Tax partner, joined PwC in 2011 following an apprenticeship with another firm. Dan will lead the Tax Private segment in the central region with a particular focus on deals related services for private clients.

Matt Palmer, Audit partner, joined PwC in 2004, from university and has worked internationally including a three year secondment to Sydney. Matt leads audits of large private equity backed portfolio businesses.

Flint Bishop swoops for Freeths’ real estate team

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Flint Bishop swoops for Freeths’ real estate team
Flint Bishop has announced the recruitment of the entire real estate team from national law firm Freeths’ Derby office. Janet Rhodes, Sam Shepherd, and Louise Calow, together with two legal assistants have all joined the firm’s commercial property department, making it one of the largest Real Estate teams in the Midlands. Rhodes, formerly the Head of Freeths’ Derby real estate practice, assumes the role of partner and will lead Flint Bishop’s now 18-strong commercial property team. With a career spanning over 25 years in the real estate industry, Rhodes brings a wealth of experience and a successful track record representing a diverse range of high-profile clients. Her body of work includes handling multi-million-pound property funding for various portfolios, acting on behalf of both local and national clients and corporates. She has also overseen significant commercial and industrial projects such as care homes, pub company groups, and industrial estates. Shepherd, who steps up from director to partner, is recognised as a highly skilled real estate law practitioner with extensive experience in handling a wide range of property matters, including option agreements, acquisitions, leases, disposals, funding, sub-sales, infrastructure agreements, and collaboration agreements. Her expertise lies in commercial development, with a particular focus on brownfield urban development sites. Calow joins Flint Bishop as a senior associate, bringing extensive experience in commercial and residential acquisitions and disposals, landlord and tenant matters, re-finance/banking, and general property affairs. Notably, she was appointed as Honorary Legal Advisor to the Derbyshire Historic Buildings Trust in 2019, showcasing her commitment to supporting and preserving the architectural heritage of the region. Among their notable achievements includes overseeing a complex private rented sector (PRS) development in Manchester, involving land assembly matters, infrastructure, and forward funding, with an estimated gross development value (GDV) exceeding £120m, the £18m acquisition of a care home portfolio and £9m acquisition on behalf of a national bingo operator. Commenting on joining Flint Bishop, Rhodes said: “I am thrilled, along with Sam and Louise, to be joining Flint Bishop at such an exciting time, with the flagship new office having recently been opened and on the back of such a successful last financial year. I am really looking forward to working with such a highly accomplished team of real estate lawyers and support staff and building on the breadth of impressive work, team experience, and client base that Flint Bishop has already established.” Qamer Ghafoor, Chief Executive of Flint Bishop, added: “We are delighted to welcome Janet, Sam, and Louise to our firm. These strategic hires represent a major coup for Flint Bishop, significantly enhancing our capabilities and establishing a stronger presence in the real estate sector. The recent wave of senior-level appointments underscores our commitment to providing exceptional legal services to our ever-increasing client base and further cements Flint Bishop’s position as a leading force in the Midlands region.”
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