New phase of business space delivered at Lincoln commercial park
A new phase of business space has been delivered at Lincoln’s premier commercial park, Leafbridge.
Lincoln-based construction contractor and developer, Stirlin, was appointed as lead contractor to deliver the new units on behalf of their client, PKS (UK) Ltd.
The new phase, named Parkes Way, provides 23,000 sq ft of employment space, split across six individual units – ranging in size from 3,000 to 5,000 sq ft.
The industrial units have been designed to accommodate a variety of business uses, with each unit benefitting from an electric sectional door, DDA compliant toilet facilities and ample parking.
Stirlin has delivered over 49,000 sq ft of commercial property on the 44-acre site so far, split across three phases, providing a mix of light industrial units and hybrid office and warehouse space.
Caroline Parkes, owner of PKS, says: “This is the third time Stirlin have delivered industrial units for PKS (UK) Ltd. These premises are ideally located, with great access to train and road links. Parkes Way offers a great mix of versatile commercial accommodation, available to let.
“Working with the team at Stirlin has been a professional and pleasurable experience from start to finish. The project was delivered on time and within budget, with high quality, desirable results.”
Tony Lawton, Managing Director at Stirlin, says: “Since the first units at Leafbridge were completed in 2021, we have seen a notable demand for new employment space in the area, so we are delighted to deliver this new phase of units on behalf of our valued client, PKS.
“Leafbridge is situated in a convenient, accessible location and is occupied by both local and national businesses, making it incredibly attractive to those seeking investment opportunities.”
Jasper Caudwell, chartered surveyor at Pygott & Crone, says “Leafbridge continues to perform as Lincoln’s Premier business park with the new Parkes Way bringing a much-needed extension to the already flourishing park.
“Parkes Way comprises over 23,000 sq ft of business space available to let and we are delighted to be acting alongside our valued clients in bringing these attractive units to market. We have already received a good level of interest and look forward to seeing these occupied by growing businesses.”
Gunn JCB’s Midlands regional operations sold to Midlands JCB
Law firm Flint Bishop has successfully advised Gunn JCB on the sale of its Midlands division, operating principally from three depots in Smethwick, Stoke-on-Trent, and Hereford, to Midlands JCB, a newly established JCB dealership.
Gunn JCB Managing Director, Paul Hartshorn, commenting on the deal said: “This change is an important step in the continued growth of JCB in a region that is set for considerable investment.
“Furthermore, it will enable Gunn JCB, through its remaining six depots, to focus its operations in the North West of England, North Wales, and the Isle of Man and continue to meet the growing needs of our customers in this area.”
Martyn Brierley, head of corporate and finance at Flint Bishop, led on the legal advice for Gunn JCB on this important disposal.
Senior partner David Nelson and tax partner Natasha Scott, both of PKF Smith Cooper, provided accounting and tax advice to Gunn JCB.
Brierley said: “Having previously acted for Paul Hartshorn and his management team in successfully concluding the MBO of Gunn JCB, it’s been fantastic to advise Gunn JCB again on this important milestone transaction alongside PKF Smith Cooper, and look forward to continue working with Gunn JCB as they strengthen further their leading presence and reputation in its retained regions.”
Nelson said: “We were delighted to act for Paul and Mike on this important transaction, which represents PKF Smith Cooper’s third with the JCB dealership network. We look forward to continuing to assist the management team in the execution of their strategic plans over the forthcoming years.”
Yü Group sees “continued strong trading momentum”
Yü Group, the independent supplier of gas, electricity, meter asset owner and installer of smart meters to the UK corporate sector, has hailed “continued strong trading momentum” in a new update, with key performance indicators of revenue, profitability and cash generation “all showing very strong growth.”
Meanwhile the run rate growth of average monthly bookings achieved in Q4 2022 has continued into 2023.
Following a detailed review by management, revenue, margins and cashflow for the year to 31 December 2023 are now expected to be substantially ahead of current market expectations.
Bobby Kalar, Chief Executive Officer, said: “I’m delighted to report a further increase in our expectation of revenue, profit and cash, and I’m looking forward to present a ninth consecutive half year improvement in our interim results.
“I look forward to updating shareholders as the Group continues to deliver and set new records.”
Funding secured for £24m Build to Rent scheme in Leicester
United Trust Bank (UTB) is providing £15.3m of funding to growing Build to Rent developer Oblix Living to complete their conversion of Saxon House in central Leicester.
Founded in 2020 by Rishi Passi and Anthony James, Oblix Living is a specialist developer, investor and operator of residential rental assets in strategically selected locations across the UK. It develops mid-sized schemes in urban areas where there is demand for well serviced rental accommodation. Its developments are service led, technology enabled and focus on young professionals seeking flexibility, security and amenities fit for modern day living.
Saxon House was built in 1993 and occupied by HMRC until 2021. It was acquired by Oblix Living in 2022 with plans to convert the 89,000 square foot, six storey former office building into ‘The Saxons’, comprising 100, 1 and 2 bedroom apartments with a gym, workspace, residents lounge and 28 resident car parking spaces.
Specialist lender, United Trust Bank, is providing the £15.3m of funding required to complete the scheme which has an estimated GDV of £24m. This is the second Oblix Living development supported by UTB which also provided £11m towards the developer’s £17.2m, 95 apartment scheme at Iron Yard in Sheffield city centre, which is now complete and leasing up.
Rishi Passi, Chief Executive Officer of Oblix Living, said: “We’re pleased to be working with UTB again to deliver another high quality build to rent development to meet the growing demand from young professionals for professionally managed, well designed, amentised buildings throughout the UK.
“The team at UTB have been a pleasure to work with. Their responsiveness and willingness to go above and beyond have been invaluable in ensuring that we have the financial resources needed to conitue our growth trajectory.”
Hardeep Thandi, Director – Property Development, United Trust Bank, said: “The Build to Rent sector is booming and we are delighted to be supporting another exciting scheme by Oblix Living which will bring much needed high specification rental accommodation to one of the UK’s fastest growing cities.
“Rishi, Anthony and the Oblix Living team have a huge amount of collective experience in residential and commercial development, lending and investment and at UTB we enjoy working with developers who are committed to building outstanding homes and are meticulous in their planning and delivery. Oblix Living are exactly that and I look forward to a long and fruitful partnership extending for many years to come.”
Nottingham firm expands global operations
Nottingham-headquartered compliance software company, Ideagen, has boosted its global footprint with a £2.5m investment in two new state-of-the-art facilities in India and Malaysia.
The two offices officially opened in Kuala Lumpur and Hyderabad last week with Ideagen CEO, Ben Dorks, joining both celebrations with local teams.
Speaking about the investment, Ben said: “Our operations in both Malaysia and India play an important role in helping to support the safe hands and quiet voices that protect the world.
“This investment in our people supports the continued development of our software solutions and growth plans, providing employees with a first-class working environment. It’s important our people have the best facilities with the best equipment and tools available to them.”
Ling Poh Teng, head of development and operations for Ideagen in Malaysia, echoed Ben’s comments at the Kuala Lumpur opening: “It’s a fantastic modern office set-up for our growing team and will help us attract the best talent while positioning us well for the future. Our team will love working here!”
The Hyderabad office provides Ideagen with a second location in the country, already having an established base in Odisha.
Ashish Mohanty, head of Ideagen’s India operation, said: “It’s an exciting time for the team to move into these offices. This investment demonstrates Ideagen’s commitment to growth in India, while also making the employees here feel supported and valued. It will serve us very well as we grow.”
Work completes on Grade II listed buildings at Ruddington museum
Refurbishment works have completed on the Framework Knitters Museum’s Grade II listed cottage and frameshop buildings.
The £62,295 project included external works, which were carried out on the buildings, and repairs to the roofs and chimneys, replacing the gutters, and repointing the walls, as well as insulation to the roofs and walls to improve the energy efficiency and provide much-needed protection from weather conditions.
The funds for the work, which was undertaken by Stevenson Bros, were awarded through the Arts Council of England’s Museum Estate and Development Fund (MEND).
MEND is an open-access capital fund, which is designed to help museums and local authorities to undertake infrastructure and urgent maintenance that are beyond the scope of day-to-day maintenance budgets.
Sarah Godfrey, creative and commercial manager of the museum, said: “We’re delighted that work has completed on our cottage and frameshop buildings, it’s important to keep them alive and thanks to generous funding from the Arts Council we were able to carry out much-needed repairs.
“The restoration, which has also made the buildings more environmentally sustainable, will help to ensure that a wide range of people can continue to access the museum, and to celebrate our historical textile heritage, for many years to come.”
Peter Knott, Midlands area director for Arts Council England, said: “The Framework Knitters Museum is a place of considerable communal and historic value, which tells the fascinating 400-year history of framework knitting.
“It is much loved by its local community and this work will help to secure the long-term survival of the buildings. We’re proud to have supported the project through our Museum Estates and Development Fund (MEND).”
East Midlands businesses lose confidence in May
Business confidence in the East Midlands fell 24 points during May to 17%, according to the latest Business Barometer from Lloyds Bank Commercial Banking.
Companies in the region reported lower confidence in their own business prospects month-on-month, down 31 points at 15%. When taken alongside their optimism in the economy, down 18 points to 18% this gives a headline confidence reading of 17%.
East Midlands businesses identified their top target areas for growth in the next six months as investing in their team (37%), devolving their offer (28%) and entering new markets (28%).
The Business Barometer, which surveys 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.
A net balance of 10% of businesses in the region expect to increase staff levels over the next year, down 18 points on last month.
Overall UK business confidence dropped five points to 28% in May. Despite the dip, every UK nation and region report a positive confidence reading.
As the country celebrated the Coronation, London reported the highest levels of business confidence at 43% (down four points on last month), followed by the North East at 35% (down six points month-on-month). The West Midlands, South East and South West, also reported high readings in May, all at 30%.
Firms remain optimistic about their own trading prospects, with a net balance of 34% expecting business activity to increase over the next 12 months, down just five points on last month.
Dave Atkinson, regional director for the East Midlands at Lloyds Bank Commercial Banking, said: “Business confidence in the East Midlands has dipped this month, following a similar trend seen across the other regions of the UK. However, confidence remains firmly in the positive territory and businesses continue to plan investments in their teams to drive growth.
“We will remain by the side of the region’s firms, to help them fund training opportunities and bring in the skills they need to deliver on their ambitions.”
Confidence among manufacturers increased to a one-year high of 40% (up from 29%), while retail registered a more modest two point rise to 26%, and construction remained robust at 34% despite its monthly nine point decline. Services confidence, however, fell back to 26% from 36%, almost erasing last month’s rise. Overall, confidence across the broad sectors remains above levels at the start of the year.
Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “As the economic environment remains challenging, compounded by stubborn inflation and higher wage pressures, business confidence has dipped slightly this month as firms feel cautious about the wider economy and their own trading prospects.
“However, while firms’ trading prospects and economic optimism both eased back, they still remain in positive territory as the UK has avoided an outright contraction in GDP – indicating a certain amount of underlying resilience in the economy.”
Stone Plus calls in the administrators
Jo Hammond and Gareth Rusling of Begbies Traynor have been appointed joint administrators of Stone Plus UK Limited.
Based in Mawsley, Kettering, the business supplies builders merchants and landscape centres with a range of natural stone, porcelain and concrete landscaping product, and also has distribution rights for Oakdale Greenscaping and McMonagle Stone for the south of England.
The company experienced financial difficulties due to shipping problems and cashflow pressure which led to significant debts accruing and made the business unviable. The director instructed Begbies Traynor to review the company’s financial position and it was subsequently placed into administration.
Stone Plus UK had three employees, all of whom have been made redundant.
Eddisons has been appointed to complete a marketing campaign for the business and its assets, and is currently evaluating offers prior to concluding a sale.
200 Degrees chooses West Bridgford for 20th shop
Speciality coffee roaster 200 Degrees has picked West Bridgford for the location of its 20th shop.
In a first for 200 degrees, the new shop features a roof terrace, making this the perfect location for summer drinks. Coffee lovers will be able to enjoy their favourite cup of hot – or iced – coffee overlooking views of the avenue.
This will be 200 Degrees’ fourth venue in its home city of Nottingham, following the success of its Flying Horse Walk, Carrington Street and Milton Street shops.
Rob Darby, CEO at 200 Degrees, said: “Nottingham is where it all began for 200 Degrees and the success of our three city shops – particularly Milton Street which opened last summer – has been phenomenal.
“We’ve had our sights set on West Bridgford for a long time, as it’s where our co-founder Tom and I have made our home. It’s also the location of our Meadow Lane Roast House, which provides all the coffee we need for our 20-shop estate, eight barista schools, wholesale partners and online coffee customers.
“West Bridgford is a thriving location, occupied by other popular brands and valued wholesale customers such as Birds Bakery and Forde’s, and it’s an exciting opportunity to join the buzzing food and drink scene there.
“We’ve often been asked when we’d be setting up shop in West Bridgford, so we’re looking forward to serving some of our long-time 200 Degrees supporters a little closer to home.”
It’s been a busy month for the independent coffee roaster already, as its 19th shop in Chester opened on Saturday 27 May, and the team are keen to crack on with the next project.
Sustainability is not such a modern concept
As the chase for net zero gathers momentum SMEs are being increasingly challenged to not just create plans for sustainability but to achieve them.
According to some reports, 50% of businesses have ambitions to achieve net zero by 2050 but only 11% believe they have the right strategy to get them there.
The focus on the environment may seem like a relatively recent movement but for some it has been a philosophy for well over a century.
Known as Lincolnshire’s favourite coffee roaster, Stokes Tea & Coffee is an award-winning family business with more than 120 years of experience in sourcing, roasting, blending and supplying the freshest coffees, finest teas, equipment, servicing and barista training. The company also runs multiple destination cafés and hospitality spaces.
Stokes has built a reputation amongst its peers for leading the way in sustainable practices. This is in part, testament to some solid habits which are as alive today as they were when the company began back in 1902. The mantras of ‘make do and mend’ and ‘waste not want not’ together with an uncompromising commitment to world-class levels of quality, are not just standing the test of time, they’ve been instrumental for decades in delivering effective ethical and eco practices.
Emma Olivier Townrow, Business Development Manager at Stokes, is helping to co-ordinate the sustainable efforts, she describes the journey so far.
“Stokes has never been just about profit. The family has always given back to its communities, operated responsibly, ethically and sustainably. These are not just snappy sound bites. I can honestly say that these behaviours and values are quite literally built into the DNA of the company. Minimising waste, being efficient and valuing resources is the Stokes philosophy.
“The company has just got on with it for decades and never been interested in virtue signalling or labelling its efforts when it comes to environmental or community activities. This has presented a very different challenge, as unlike many other businesses where sustainability initiatives are being developed to meet the requirements of things like B Corp certification, Stokes has so much in place already that is just business as usual.
“The behaviours and practices require retrospective ‘labelling’ as it were, rather than having to start something new, it’s been a case of finding and formalising what’s already in place. I’ve been working on the B Corp application to help Stokes get formal recognition and certification for the amazing work it’s been doing.
“There’s a vast amount already in place including investment in new heating systems and eco-friendly coffee roasters that significantly cut down on energy usage and emissions and a clear focus on minimising waste through upcycling, recycling and re-purposing. Stokes is close to its supplier base at home and abroad to ensure every penny spent benefits communities near and far. The company demonstrates that a team focus and strong principles can make huge headway when it comes to the sustainability journey.”
Emma’s Top Tips for Achieving Net Zero Targets:
1. Don’t be overwhelmed by the prospect of driving sustainable agendas, the UN targets all ultimately lead to overall benefits for businesses including efficiency, savings and greater business/community engagement.
2. Start small, for example by finding 3 ways to reduce single-use plastic, switch to greener suppliers or support a community project to develop a fresh perspective and approach towards tangible and sustainable business practices. Once you start looking, you’ll be surprised by how many ways you’ll find to reduce your carbon footprint.
3. Get your team onboard, share your ambitions and seek ideas from your people, better still create incentives or rewards for innovative ideas. Nothing breeds success like success, so find the wins and celebrate them.
4. Rethink how you dispose of your waste products – can they be reduced, reused or recycled?
5. Don’t be nervous about sharing your aims and ambitions with your customers, data shows consumers appreciate and value sustainable businesses. So, share your aspirations and seek collective solutions.
Find out more at: www.stokescoffee.com
