Funding sets logistics provider up for expansion

Tess Egginton
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Funding sets logistics provider up for expansion
Logistics provider Ascott Transport Limited (ATL) is expanding its operations thanks to an eight-figure funding package from HSBC UK. The Derby-based distribution business will use the funding to build a state-of-the-art 130,000 sq ft warehouse at its Foston Park site, bringing its total space to 420,000 sq ft. The new warehouse will be equipped with the latest technology and built with a sustainability-first strategy, ensuring the property’s environmental impact is kept to a minimum. To achieve this, the building will feature PV roof tiles that will improve its durability while integrating solar technology. The warehouse will also have thick walls to maintain temperatures, allowing it to achieve a Level A energy efficiency rating and an AO BREEAM accreditation. ATL has an impressive roster of blue-chip companies and will use the funding to increase its storage capacity with room for 22,000 new pallet spaces. The company is a major employer in the region, with the expansion expected to create up to 60 new jobs in the local area. Pete Ascott, director at Ascott Transport Limited, said: “The funding from HSBC UK has provided us with a great opportunity to invest in our current site and has driven our appetite to be more ambitious with our growth aspirations. Our relationship team has been fantastic, and the entire lending process has been extremely engaging. “The funding has allowed us to double our working capital, which has enabled us to service an increase in contract opportunities at Foston and also acquire additional warehousing space in Alfreton in recent months.” Simon Woods, relationship director at HSBC UK, added: “We are proud to support ATL in its expansion plans. The business has a strong track record of providing excellent service to its clients, and this funding will enable it to further enhance its operations. We are also pleased to see ATL’s commitment to sustainability, and we look forward to seeing the new warehouse take shape.” Ascott Transport Limited started as a family-run logistics service provider and is now a £32 million logistics business with 320 employees. The business offers bespoke warehouse solutions and operates a fully tracked fleet of around 80 vehicles and 180 trailers, 24 hours a day, 7 days a week.

Optimism and hiring intentions rise as inflation shows early signs of falling

Tess Egginton
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Optimism and hiring intentions rise as inflation shows early signs of falling
UK businesses have shown stronger optimism and hiring intentions as inflation shows early signs of falling, according to the latest Business Trends report from accountancy and business advisory firm, BDO. BDO’s Optimism Index reached a 10-month high in June, recording a 0.65-point increase to 100.40 and crossing the 100-point threshold which indicates above-average positivity. Increases were driven by net-positivity across the services sector, which remains high at 100.67, and a return to improvement across manufacturing optimism which picked up by 1.00 point. Despite this, manufacturing optimism still sits in contractionary territory, below the crucial 95-point mark at 92.56, as businesses tackle ongoing supply side headwinds. Stronger hiring intentions in June reflect the generally more positive outlook from businesses. Buoyant employment levels drove a fifth-consecutive improvement in BDO’s Employment Index, as a 0.60-point increase saw the index rise to 111.96. Increases in the number of self-employed and part-time workers in June contributed to the resilience of the UK labour market. Confidence from businesses has been buoyed by the expected easing of inflationary pressures in the coming months. June saw BDO’s Inflation Index record its weakest overall reading since August 2021, when the country was emerging from a third national lockdown, falling by 2.06-points to 103.68. Price pressures are predicted to subside for businesses in the coming months. However, higher interest rates will place further strain on households leading to more cautious consumer spending, despite inflation slowly easing. Despite net growth across the Optimism and Employment Indices, supply chain pressures have dampened business productivity. BDO’s Output Index fell to 95.95, its weakest reading since March, indicating a slowdown in growth. Both the Services and Manufacturing Output Subindices declined in June and whilst services remain in positive territory at 97.78, manufacturing witnessed a larger fall of 3.19 points to a deeply negative reading of 81.52. This marks manufacturing’s worst output reading since May 2020 when manufacturing output was curtailed by the first national lockdown. Kyla Bellingall, regional managing partner at BDO in the Midlands, said: “It’s encouraging to see business confidence and hiring intentions reflect the resilience we’re seeing and hearing from firms, in the face of ongoing supply side challenges. “Whilst there’s hope that the new Ofgem price cap will drive down household energy prices and in turn ease inflation, the recent rise in interest rates and stagnating price growth indicate that this may still be a long way off. “Firms will need a helping hand from Government with targeted policies or we risk business growth stagnating and plans for expansion falling through.”

Hornby acquires 25% share in Nottingham wargames producer

Tess Egginton
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Hornby acquires 25% share in Nottingham wargames producer

Hornby, the international models and collectibles group, has acquired a 25% share in Nottingham-based Warlord Games Limited for cash consideration of £1.25 million.

Hornby has the option to acquire a majority stake in Warlord on or around the second anniversary of this initial acquisition and then to acquire any remaining shares in Warlord on future anniversaries.

Warlord was founded in 2007 by two former Games Workshop employees and is now one of the world’s leading producers of principally historical tabletop wargames, miniatures and accessories. Warlord hold the licences to produce games and miniatures for the much-loved TV series, Dad’s Army and the galaxy’s greatest comic, 2000 AD.

Warlord manufactures primarily in the UK and sells to over 600 distributors and stores around the world via their sales teams in the UK, Europe and the Americas. Warlord also operates a direct-to-consumer operation via their website.

Warlord will continue to be managed by its existing directors and the company believes that this transaction creates a number of opportunities to accelerate growth of the business further still.

Olly Raeburn, CEO of Hornby, said: “We are absolutely delighted to be able to join forces with Warlord Games, whose business we have always admired. We very much look forward to working with the team there to maximise the potential of the business and use their significant experience and expertise for the benefit of the wider group.”

John Stallard, CEO and founder of Warlord, said: “We are very much looking forward to working closely with Hornby as we have been big fans for many years. We see this as a huge opportunity to continue to build Warlord long into the future, as well as to contribute in any way we can to the future success of Hornby and its stable of iconic brands as there are innumerable opportunities and synergies in sales, marketing and production.”

Derby healthcare services business sees revenue and profit rise

Tess Egginton
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Derby healthcare services business sees revenue and profit rise
Revenue and profit have risen at Totally plc, a Derby-based provider of healthcare services. According to preliminary results for the 12-month period ended 31 March 2023, revenue was up 6.5% to £135.7 million, in comparison to £127.4 million in the year prior. Meanwhile a “substantial increase” in profit before tax was reported, growing from £1.3 million to £1.8 million.

Bob Holt OBE, chairman, said: “I am pleased to report a further year of continued growth as we rebalanced our portfolio towards higher margin business, and made significant organisational progress across the group.”

Wendy Lawrence, Chief Executive Officer, said: “In line with our buy and build strategy, we remain acquisitive where opportunities enhance our ability to deliver increased shareholder returns and broaden services for commissioners.

“In the year ahead, we will remain focused on making further progress with our growth strategy whilst ensuring we maintain the delivery of high-quality services and manage our costs. We expect the coming year to be challenging as the NHS continues to operate in crisis and faces ever-increasing demand across all services.

“The Board remains very confident in that the number of opportunities for the company continue to grow and we are ready and prepared to further support the NHS as it continues to focus on the recovery and embedding of sustainable services able to cope with continuing higher levels of demand and the reduction of waiting times and waiting lists.”

The business anticipates revenue in the year ahead to be lower than in the period to 31 March 2023.

Months of housing scheme delay come to an end in Nottingham

Stuart Pearcey
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Months of housing scheme delay come to an end in Nottingham
Months of delay over building 106 council homes in Top Valley resumed this week with Lovell Partnership starting work on the site for Nottingham City Council. Lovell Partnership was appointed in April, and have started work on the first phase of about 50 homes, with the aim of having local people on the council’s waiting list move in on a phased basis from late October this year to mid-February 2024. The original contractor appointed to build the homes – 23 one-bed flats, 63 two-bed houses and 20 three-beds – on the site of the former Eastglade School ceased to trade last September, since when Nottingham City Council has been working to get works restarted. Works to build the second phase of homes on the site will then begin, so that all 106 properties can be occupied as soon as possible. Councillor Jay Hayes, Portfolio Holder for Housing at Nottingham City Council, said: “I’m delighted that works are restarting to create these new council homes for local people on the waiting list. They are well-designed and energy efficient – places where people will be proud to live.” Lovells is also working on the council’s Beckhampton site in Bestwood Park, which is seeing 131 council homes – two and three-bedroom houses, bungalows and flats – being built on land that was formerly a playing field for the former Padstow School off Beckhampton Road.

Agents appointed to redeveloped Chesterfield site

Tess Egginton
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Agents appointed to redeveloped Chesterfield site

Jomast has appointed FHP as official joint agents of Elder Way – a pivotal site in Chesterfield town centre which has been redeveloped by the regeneration specialist into leisure and retail units.

FHP is the dominant retail and leisure agent within the Midlands, with offices in Nottingham, Birmingham and Derby, and has won the EGi East Midlands Most Active Retail Agent award for the last 13 years.

FHP will now work alongside WSB Property to jointly market the Elder Way scheme nationally to potential occupiers.

There are currently a number of leasing opportunities available at the 21,761 sq ft scheme, from smaller E Class and Sui Generis Bar units of 1,420 sq ft upwards to larger units of up to 4,704 sq ft.

Alan Pearson, director and head of retail and leisure at FHP, said: “We are pleased to partner with WSB Property to introduce Elder Way to a wider audience across the East Midlands. The units are suitable for a variety of uses following the change of the use class order which opens this up to office and clinical use, alongside the traditional retail and leisure use.”

Jomast has transformed the former Co-op department store into a landmark mixed-use leisure scheme comprising seven street-level units and a 16,285 sq ft basement. The site is being marketed to food and drink, and gym operators as well as retailers.

Constructed in the 1930s, the site has a mock-Tudor frontage and is as renowned as the town’s crooked Spire church.

A Premier Inn hotel already occupies the upper two floors of the building where it has been successfully operating since 2019. Recently Premier Inn owner Whitbread reported that its first-quarter sales came in ahead of last year’s figures, supported by strong demand for travel and leisure and robust performance of its UK hotels.

Elder Way is one of the key developments within Chesterfield Borough Council’s £60 million Northern Gateway Scheme which includes a new multi-storey car park, completed in 2021, and an Enterprise Centre opened in 2022. The Enterprise Centre, which has 32 office suites, is recording near 100% occupancy just 12 months after opening. Both the Enterprise Centre and Saltergate multi-storey are located within a two-minute walk of Elder Way.

Mark Hill, commercial property director of Jomast added: “We’re committed to creating developments and regenerating properties that have a transformative effect on towns and cities and Elder Way embodies this. It is a pivotal site both in the town centre and the Northern Gateway scheme in Chesterfield.”

Administrators appointed to bingo business

Tess Egginton
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Administrators appointed to bingo business

Tim Bateson and Chris Pole from Interpath Advisory have been appointed joint administrators to Majestic Bingo Limited. 

Majestic Bingo is an independent operator of retail bingo, operating eight clubs across England and Wales and employing 143 people at the time of the appointment of the administrators.

Historically profitable, the company was adversely impacted by lockdowns during the COVID-19 pandemic which caused significant reductions in admissions which have since failed to fully recover.

In May 2021, the company’s bingo hall in Spalding, which was a profitable venue, suffered a serious fire as a result of an electrical fault and subsequently never reopened. 

More recently, the cost-of-living crisis and the fall in disposable incomes seen across the UK since late 2021 has also adversely impacted the business.

Consequently, the financial performance and position of the group has declined in recent years, leading the company to experience cashflow challenges. As a result, the directors resolved to place the company into administration. 

Following their appointment, the joint administrators will continue to trade the business and all eight venues as a going concern while they explore options for a sale of the business and its assets. All members of staff have been retained by the administrators to enable trade to continue. 

The joint administrators have confirmed that they will honour customers’ Electronic Bingo Terminal (EBT) funds and any valid gift vouchers for the period whilst trading continues.

Majestic’s online business, Majestic Bingo Online Limited, is a separate entity which is not in administration and continues to operate on a solvent basis as usual. 

Tim Bateson, director at Interpath Advisory and joint administrator, said: “Majestic is one of the UK’s most recognisable independent bingo operators, but in recent years has seen trading adversely affected by the impact of lockdowns during the COVID-19 pandemic, as well as the cost-of-living crisis.

“We will continue to trade the business in the immediate term while we seek a buyer for the business, and would encourage any interested parties to make contact with us as soon as possible.”

Display excellent work at the East Midlands Bricks Awards 2023

Tess Egginton
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Display excellent work at the East Midlands Bricks Awards 2023
A key event in the business calendar, showcasing the excellent work of the region’s property and construction sector, the East Midlands Bricks Awards 2023 will return on Thursday 28 September, at the Trent Bridge Cricket Ground. Nominations for the prestigious event are open, and now is the ideal time to make your submissions, ahead of next month’s deadline (Thursday 31 August). Shine a light on your projects and team, reward their hard work, and boost morale. To enter your (or another) business/development for the East Midlands Bricks Awards 2023, please click on a category link below or visit this page:
The Overall Winner of the East Midlands Bricks Awards 2023 will also be awarded a year of marketing/publicity worth £20,000. After winning the Deal of the Year award at last year’s event, Trevor Wells, director at Wells McFarlane, said: “For Wells McFarlane, the Broadnook Garden Village deal involved more than a decade of work, requiring extensive collaboration and detailed local knowledge to navigate its numerous complexities. The sale completed in July [2022] and will allow for the creation of an entirely new community comprising homes, businesses, a primary school, leisure facilities and natural open space. It’s fantastic news that our years of hard work are now recognised as the East Midlands’ most significant deal of 2022. We would also like to thank East Midlands Business Link for organising such a successful and well-attended event.”
Find out who last year’s winners were here.

Book your tickets now

Tickets can now be booked for the East Midlands Bricks Awards 2023 – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge Cricket Ground 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, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:                                                             To be held at:

Master planner appointed to take forward Nottingham’s Broad Marsh vision

Tess Egginton
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Master planner appointed to take forward Nottingham’s Broad Marsh vision
Major international architecture and design practice BDP has been appointed by Nottingham City Council to develop a master plan to realise the city’s vision for Broad Marsh, one of the largest and most significant city centre projects anywhere in the UK. The appointment moves the proposals for the whole site towards the submission of a planning application and closer to the start of construction on a project which sees Nottingham leading the way on a new approach to city centre regeneration. BDP, a collective of architects, engineers, designers and urbanists has a reputation for creating people-centred places and holds an excellent track record of working on high-profile projects including Wimbledon Centre Court, Ascot Racecourse, Liverpool One, the Google HQ at Kings Cross and the Houses of Parliament. Its Urban Design Director, David Rudlin, who will oversee the Broad Marsh Masterplanning process, is a highly respected urbanist who produced the Government’s National Model Design Code and has managed major masterplans, such as Brighton New England Quarter. The Broad Marsh masterplan, developed by BDP, will help realise the bold vision for the site created with Heatherwick Studio following the Big Conversation, an extensive public consultation which attracted more than 3,000 responses and 12,000 comments. The practice will work with the council on a deliverable plan and strategy to create an exemplar, sustainable development with social value, viability and deliverability at its core. A new ‘Green Heart’ public space the size of a football pitch, is being created at the centre of the Broad Marsh site. Other key elements of the vision include: • Up to 1,000 new homes • More than 6,000 new jobs • 500,000 square feet of commercial and office space • Retention of part of old shopping centre’s structural frame to create an innovative new space • Rejuvenation of the city’s unique cave network BDP will work with the council and Townshend Landscape Architects which has already designed the Green Heart and submitted proposals for Collin Street’s transformation. Work is due to begin shortly at Collin Street and later this year on the Green Heart. The Masterplan will tie in with work already undertaken in the Southside area, including the development of the new car park, bus station and Central Library, the new Nottingham College city hub and huge changes to surrounding streets. The Masterplan will show how to transform the vitality and viability of the Broad Marsh and wider Southside region, create opportunities to live and work in the area, bring investment and employment for local businesses and take Nottingham’s ambitions to be carbon neutral by 2028 into account. BDP will also consider how the existing concrete frame could be retained. The Masterplan would be used to underpin any bids for external funding, including the Government’s Levelling Up Fund. City Council Leader, Cllr David Mellen, said: “We have made significant progress on reshaping this part of the city to make the most of this once-in-a-generation opportunity. The new Broad Marsh car park, bus station and Central Library and the transformed streets around it have helped to create a modern, welcoming gateway to the city. “We have demolished a large part of the former shopping centre, and will start work later this year on turning part of that space into the Green Heart that so many people have said they want to see in this area. “I’m delighted that for the rest of the site we have appointed BDP, a renowned urban design firm which will take the vision and turn it into a deliverable plan. This is a significant step towards seeing this site achieve its potential of becoming a destination in its own right and a driver of investment, jobs and growth for the whole city.” David Rudlin, Urban Design Director at BDP, said: “I’m delighted we will be working with Nottingham City Council on the Broad Marsh master plan. I have a long association with Nottingham and have a great affection for the city. “Broad Marsh is perhaps the largest development site in the centre of a British city and is a huge opportunity to transform Nottingham. We will be working with the proposals developed by Thomas Heatherwick and analysing all views expressed by local people in ‘the big conversation’ to ensure that the plans become a reality.” Greg Nugent, who chaired the Greater Broad Marsh Advisory Group, said: “This project has the power to transform Nottingham. The progress Nottingham City Council has made over the last 18 months has been nothing short of transformative. This appointment is mission critical to turning the vision into a reality and I’m really excited David will lead the master planning.”

Plans for Northampton’s Market Walk to undergo multi-million regeneration to be set out at cabinet

Tess Egginton
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Plans for Northampton’s Market Walk to undergo multi-million regeneration to be set out at cabinet
Leisure developer, STACK is set to bring their first facility in the Midlands to Northampton Town Centre as they work to acquire the Market Walk site. At the Cabinet meeting of West Northamptonshire Council (WNC) on 11 July, Councillors will receive an update on the plans to redevelop Market Walk as it is set to host an innovative food hall and leisure space. During the meeting, Cabinet will receive further information on the approval of the Towns Fund business case in order to secure the development scheme. Market Walk, previously known as Peacock Place, boasts a prominent spot at the heart of Northampton Town Centre adjacent to the historic Market Square, but has stood empty for many years. The council will provide up to £4.2 million investment through the Towns Fund, coupled with private investment of £8 million from STACK, which will allow the space to be transformed into a new leisure, entertainment, and social community hub. The Towns Fund is part of the Government’s plan for Levelling Up the UK economy and West Northamptonshire Council (WNC) has secured £24.9 million to invest into transforming Northampton’s Town Centre. As part of the Grant Funding Agreement, the Towns Fund money must be spent by spring 2025, otherwise funds could be withdrawn. The repurposing of the shopping centre will enhance the town’s vibrancy and vitality, supporting both the daytime and night-time economy and complementing the adjacent ongoing transformation of the historic Market Square and public realm of Abington Street and Fish Street. Once complete, the space will host a series of independent street food traders, all with their own unique offer and feel, a variety of bars and a dedicated space for interactive games, all focussed around communal seating and a main stage for live music performances and entertainment – offering something for all the family. Cllr Dan Lister, Cabinet Member for Economic Development, Town Centre Regeneration and Growth at West Northamptonshire Council, said: “Market Walk will undergo significant redevelopment and once open, will boast the first offering of its kind in the Midlands. “STACK offer a unique social and leisure space under one roof, which provides something for all of the family. On completion of the acquisition, the developers will take the first steps to seek the relevant planning and licensing permissions to bring this project forward for delivery. “By seeking opportunities to work with private investors to bring forward developments across West Northamptonshire, we can enhance our towns and accelerate the delivery of our ambitious regeneration programme.” Neill Winch, CEO of STACK, said: “We are thrilled to announce our plans to bring STACK to Northampton and support the council’s vision to reinvigorate Market Walk. With its prime location in the heart of the town centre, STACK presents an excellent opportunity to create a dynamic and convenient destination for visitors and shoppers alike. “The ongoing investment in Northampton’s Market Square to revitalise the town centre aligns perfectly with our vision. By introducing STACK during this pivotal moment, we aim to contribute to the town’s revival and enhance its appeal as a thriving hub of entertainment and leisure. “The proven success of our mixed-use development model in other cities has been nothing short of remarkable. STACK has captivated visitors and generated substantial footfall. We believe this winning formula will resonate with the people of Northampton and offer them an unparalleled experience.”
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