New housing scheme planned for Kirkby gateway

April Lara
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New housing scheme planned for Kirkby gateway

Ashfield District Council has unveiled plans for a 12-apartment residential development near Kirkby railway station. The development is designed to improve the housing supply and visibility of the station entrance.

The scheme is part of the council’s £62.6 million Towns Fund investment, including completed projects such as the Sherwood Observatory Planetarium and Science Discovery Centre, upgrades to Portland Square, and the ongoing Enterprising Ashfield initiative.

Initial plans for a hospitality development on the site were scrapped following low market interest. The council now aims to submit a planning application this summer, with construction expected to begin in early 2026, subject to approval. The project forms part of the council’s wider regeneration strategy focused on energy-efficient housing and enhancing local infrastructure.

New wind turbine approved to support farm diversification in Nottinghamshire

April Lara
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New wind turbine approved to support farm diversification in Nottinghamshire

A new wind turbine installation at New Holbeck Farm in Halam, Nottinghamshire, has received planning approval following a Section 73 application to revise an earlier consent. The farm will replace its storm-damaged, non-operational two-blade turbine with a Vestas V47 model featuring a three-blade design and a 68.5-metre tip height.

The project forms part of Sharman Farming Ltd’s strategy to decarbonise energy usage and strengthen the long-term viability of its agricultural operations through renewable energy integration. The updated turbine model is tailored for rural use, reflecting a broader push in the UK toward decentralised clean energy solutions amid ongoing energy supply challenges.

Technical assessments, including noise and radar impact studies, confirmed the site’s suitability for the replacement infrastructure. Work on installing the new turbine is scheduled to begin this summer, and energy production is expected to commence in the autumn.

BNPL regulation targets clearer standards and reduced risk for consumers

April Lara
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0
BNPL regulation targets clearer standards and reduced risk for consumers

The UK government has confirmed new buy now, pay later (BNPL) lenders regulations, mandating affordability checks and clearer consumer protections. The move addresses growing concerns around unregulated short-term credit usage, which has surged to 11 million users nationwide.

The updated legislation, set to take effect in 2025, requires BNPL firms to perform upfront affordability assessments, speed up refund processing, and give customers access to complaint resolution through the Financial Ombudsman Service.

The Financial Conduct Authority (FCA) reports a marked increase in BNPL use, particularly among women aged 25–34 and lone parents. Around 40% of the latter demographic now rely on the service. Despite its convenience, industry watchdogs and consumer groups have raised alarms about the ease shoppers can incur unsustainable debt through these platforms.

BNPL providers operating in the UK will be subject to consistent standards aligned with other credit products. This could affect customer onboarding flows, lending algorithms, and risk management protocols.

The rules also allow firms to differentiate on transparency and consumer trust, as regulatory certainty may bolster investor confidence and long-term scalability in the sector.

The announcement comes amid a broader government effort to rein in emerging forms of consumer credit and provide stronger regulatory oversight for fast-growing fintech solutions.

Glamping plan rejected over noise and visibility concerns

April Lara
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0
Glamping plan rejected over noise and visibility concerns

Derbyshire Dales District Council has rejected plans to expand a Derbyshire campsite with four glamping pods, citing concerns over noise, landscape impact, and residential amenity.

The proposal, submitted by a local farming family operating the Racecourse Retreat campsite near Wirksworth, aimed to diversify income through rural tourism. However, council planning officers and elected members concluded the site’s elevated location, overlooking nearby homes, made it unsuitable for additional development, despite its status as a lawful camping site.

The application followed a previously rejected bid in 2022 for six pods on the same land. This revised plan proposed partially embedding two pods into the hillside and recessing the other two to minimise visibility. Supporting statements highlighted benefits such as mental health tourism, bike hire facilities, and contributions to the local economy through increased footfall. The applicants also noted the availability of on-demand transport services to mitigate concerns over the site’s rural location.

Despite these measures, councillors expressed unease about potential noise from outdoor activities like BBQs and hot tub use, light pollution, and the visual intrusion on the natural landscape. Several local residents objected on similar grounds, with one describing the scheme as an expansion of caravan operations incompatible with the area’s tranquil character.

While councillors acknowledged the wider pressures on farming and the need for diversification, they ultimately found the application lacked sufficient detail and presented enforcement challenges. There were also broader concerns about the cumulative effect of tourism-related developments across the countryside.

The council encouraged the applicant to return with a more robust and context-sensitive business case.

Housebuilder invests £80m into regeneration of forgotten Leicester waterways

Tess Egginton
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Housebuilder invests £80m into regeneration of forgotten Leicester waterways
Housebuilder, Keepmoat, is investing more than £80m into a regeneration scheme that will help transform disused and neglected industrial buildings near Leicester’s waterways. Now named Waterside, in honour of its picturesque proximity to the Grand Union Canal and River Soar, the scheme is being delivered in partnership with Leicester City Council to create new, energy-efficient homes that will replace 17 acres of brownfield land. Previously home to abandoned textile factories, the housebuilder’s investment has transformed the waterways from Wolsey Island to the city centre. The wider regeneration project has also delivered flood protection measures, enhancements to biodiversity and improved access to the canal and river for local people. The transformation is set to be complete by the end of 2026, when Waterside will offer a community of 350 homes nestled on the banks of the canal. Keepmoat has also worked with the local authority to improve the walking and cycling routes to Leicester city centre. As the development approaches the final phases of the regeneration, Keepmoat has shifted its focus to deliver a neighbourhood in Frog Island to meet the needs of the local community. Adam Sharpe, regional managing director at Keepmoat, East Midlands, said: “We’re thrilled to be continuing delivery under our strategic partnership model to unlock this vibrant brownfield site. “At Keepmoat we’re proud to transform and breathe new life into areas in need of regeneration. By delivering quality, sustainable homes in Leicester, we’re able to support a vibrant new community in an area people want to live – close to employment hubs and amenities.” City mayor Peter Soulsby added: “Leicester’s Waterside has for a long time had immense potential for regeneration. Bringing that redevelopment forward for the benefit of the city has been a long-held ambition of mine. “These new homes are a key part of that and have been a vital catalyst for the surrounding Waterside developments. We’ve worked closely with Keepmoat as our development partners to help transform Waterside into a vibrant, attractive neighbourhood in which to live and work.”

Strong start for NK Motors’ new Long Eaton showroom

April Lara
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Strong start for NK Motors’ new Long Eaton showroom

NK Motors’ newly launched used car showroom in Long Eaton has posted a strong performance in its first month of trading, recording 82 customer enquiries and converting 43% of them into sales. A total of 36 vehicles were sold from an average on-site stock of 27 cars.

The Long Eaton location, opened in April, is NK Motors’ third site, joining its flagship Kia dealership in Derby and another sales centre in Nottingham. The business, which employs 80 staff and posted £80 million in revenue for 2024, is targeting £100 million in turnover for 2025. It also leases more than 1,000 fleet vehicles to corporate clients annually.

The group invested £100,000 refurbishing the Long Eaton premises, which it originally owned before leasing it out to another motor retailer in 2014. The site became available again after the previous tenant entered administration.

The new operation is self-contained, managing all its back-office functions, including finance, marketing and vehicle photography, on site. It has a showroom capacity for 80 vehicles, with plans to expand via an adjacent 40-car overflow site also owned by the group. Vehicles on offer range in value from £5,000 to £50,000.

Seven new roles were created with the site’s reopening, attracting over 500 applications. A further four hires are expected in the coming months. The launch also generated significant online engagement, including 25,000 Instagram hits and 18 five-star customer reviews.

Affordable housing partnership to continue in Towcester

Tess Egginton
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Affordable housing partnership to continue in Towcester
More affordable housing is to be delivered in Towcester as part of Amplius’ ongoing partnership with Persimmon Homes Midlands. The businesses are extending their relationship to build more affordable homes at The Furlongs in the town. So far, the agreement has seen 123 affordable homes provided since 2021, with at least another 12 guaranteed to be built. The one, two, three and four bedroom homes, which include some accessible bungalows, have been made available for affordable rent, social rent and Shared Ownership. Marcus Keys, chief development and commercial officer, Amplius, said: “By working closely with Persimmon Homes Midlands, we’re providing much-needed affordable housing in Towcester. “These homes give local people the chance to get on the housing ladder and to have a house they’re proud to call home. “We’re really pleased with the progress being made by the Persimmon team and we’re looking forward to continuing our partnership with them to deliver even more affordable homes.” David Ablett, construction director at Persimmon Homes Midlands, added: “Handing over a portion of our homes at Towcester is the latest example of our successful partnership with Amplius, which is delivering much-needed new homes for local families. “We’re continuing to work hard to prioritise quality and affordability for all our customers. “We’ll continue to work closely with our local partners to ensure our investment makes a positive difference to communities across the region.”

Gold seen as safe haven amid tax hikes and market volatility

April Lara
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0
Gold seen as safe haven amid tax hikes and market volatility

A recent survey of UK retail investors indicates that gold is now the most favoured asset class for the next 12 months, with 58% of respondents expecting its value to increase. This marks a notable shift in investor sentiment as geopolitical and economic uncertainties persist.

The findings, published by Charles Schwab UK, show that confidence in gold has overtaken traditional indices such as the FTSE 100, which only 39% of investors expect to rise. Similarly, 40% are optimistic about the Dow Jones and 38% about the Nasdaq.

This movement towards gold comes amid growing concerns about tariff policy and the recent hike in capital gains tax, which exempts physical gold investments. The Royal Mint has reported increased demand for physical gold assets like coins and bars.

Younger investors are particularly active in this trend, with 31% increasing exposure to precious metal stocks in the past quarter. Overall, 73% of investors view mining and precious metals companies as sound investment opportunities. This figure is even higher among millennials at 79%, reflecting a generational leaning towards assets perceived as inflation-resistant and less exposed to political risk.

By comparison, just 70% of investors view AI stocks as strong investments, highlighting a broader pivot toward defensive positions in portfolios.

“Good progress” at Topps Tiles as sales and profit rise

Tess Egginton
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0
“Good progress” at Topps Tiles as sales and profit rise

Topps Tiles, the Leicester-based tile specialist, has made “good progress” across key growth areas in its half year results, focused on modernising the trade digital experience, expanding into new coverings categories, business-to-business sales, and the Pro Tiler Tools and Tile Warehouse businesses.

According to unaudited consolidated interim financial results for the 26 weeks ended 29 March 2025, adjusted sales (excluding the financial impact of the firm’s acquisition of CTD) increased by 4.1% to £127.8 million, with an improving trend across the first and second quarters.

Adjusted profit before tax, meanwhile, was up 3.2% at £3.2 million. Topps Tiles has also hailed a strong start to the second half, with adjusted sales in the first seven weeks up 9.5% year-on-year.

Rob Parker, Chief Executive, said: “I am pleased with the progress we have made over the first half, which has included an improving sales trend, offsetting the majority of our inflationary cost pressures, and continuing to deliver our strategy; while also delivering a small increase in underlying profitability.

“We have recently announced the conclusion of the CMA investigation into our acquisition of CTD, which will form a major part of the business-to-business element of our growth strategy moving forwards.

“As we look forward to the second half, current trading shows a strong improvement in both our market leading omni-channel business, Topps Tiles, and also in the newer parts of the Group; and we have a clear plan to move CTD into profitability by the final quarter of our financial year and into growth beyond that.

“As a result, we expect our full year profits to show a meaningful improvement over the prior year.”

Midlands firms embrace growing popularity of Employee Ownership Trusts

Tess Egginton
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0
Midlands firms embrace growing popularity of Employee Ownership Trusts
Grant Thornton UK Advisory & Tax LLP, the business and financial advisory firm, is witnessing a surge in interest from Midlands-based companies exploring Employee Ownership Trusts (EOTs). Introduced by the UK government in 2014 to promote employee ownership, EOTs are a specific type of Employee Benefit Trust that acquires shares in a company and holds them on behalf of the employees. EOTs gained significant traction following regulatory changes in 2020. According to the Employee Ownership Association, employee-owned businesses are now growing at an average rate of 23% annually – an upward trend reflected in Grant Thornton’s experience. “There has always been demand for succession planning, but Employee Ownership Trusts are attracting a lot of interest and can be a valuable option for businesses in our region,” said Tara Walker, an associate tax director who is focused on equity-based employee rewards at Grant Thornton in the Midlands. “By design, the EOT encourages long term employee ownership, incentivised by a sale free from capital gains tax and up to £3,600 per year tax free for employees in qualifying bonus payments. “EOTs allow business owners to pass on their legacy while fostering a culture of shared success among employees. Studies also show that employee-owned businesses often experience higher levels of motivation, productivity, and retention, leading to long-term success. “Tax efficiency is understandably of great interest to business owners and the potential for capital gains tax exemptions makes EOTs an attractive financial option for people seeking an exit strategy.” While HM Revenue & Customs (HMRC) does not release official figures on EOT formations, industry data highlights their accelerating adoption. By the end of 2023, over 1,650 UK businesses had transitioned to employee ownership, with 542 making the shift in 2023 alone. Monique Beaulieu, partner in tax and reward advisory services at Grant Thornton UK, said: “Interest in employee-owned businesses continues to grow across all sectors and regions. Last year’s consultation and the Autumn 2024 budget adjustments have not dampened enthusiasm for EOTs as a viable succession planning tool, particularly among business owners in the Midlands.”
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