Investment firm behind Pinewood film studios joins list of Center Parcs bidders

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Investment firm behind Pinewood film studios joins list of Center Parcs bidders
The investment firm behind Pinewood film studios has been added to the list of bidders for Nottinghamshire-headquartered Center Parcs. The real estate investor, Aermont is expected to put forward an indicative offer for Center Parcs, according to reports from Sky News. Center Parcs was put up for sale last month (May) by Brookfield with a £4-5bn price range. It follows news that Singaporean sovereign wealth fund Government Investment Corporation (GIC) is in talks regarding a joint bid for Center Parcs with private equity investor KSL Capital Partners, and reports that a vehicle managed by private equity giant CVC Capital Partners was considering putting forward an offer to buy the holiday resorts chain’s six UK and Ireland sites. Infrastructure funds, including Antin, are also exploring offers for the company, according to Sky News’ city sources. The first UK Center Parcs location opened at Sherwood Forest in Nottinghamshire in 1987. Today, Center Parcs serves over 2 million guests per year with a 98% occupancy rate.

Botham Accounting appoint Healthcare & Property debt advisory specialist

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Botham Accounting appoint Healthcare & Property debt advisory specialist
Botham Accounting, the Nottingham-based accountancy firm, have appointed Wes Hodelin and launched a dedicated debt advisory service for clients – Botham Capital. The boutique accounting practice who have a team of 40 and have seen year on year growth of 25%, specialise in the healthcare and property sectors with a nationwide client base. Wes brings with him 16 years’ of financial services experience, 10 years of which have been dedicated to healthcare and property financing. The majority of his career was spent in commercial banking and client coverage at RBS Group as a relationship manager, then at Santander Corporate as a relationship director. His most recent role was director of healthcare at MAF Finance Group, providing independent advisory and brokerage services to healthcare groups and property investors across the UK. Wes, who has experience working with funders from across the capital spectrum, from private credit and hedge funds through to bridging lenders and high street banks, said: “I am delighted to be joining the Botham Accounting team, having worked closely with them on several transactions where my origination, structuring and execution expertise have combined with Botham’s robust financial modelling and due diligence services. “The debt advisory practice will bring this all together under a single proposition which will serve to improve the client experience whilst making transactions efficient for all involved. Given Botham Accounting’s position as a mid-market boutique, and my track record of delivering funding in the £1m to £50m space, I am excited about unlocking the significant value our new and disruptive service will add to those who choose to engage us as advisers.” Tom Gregory, director of Botham Accounting, said: “We’re thrilled that Wes has joined us. Having Wes on board will enhance our offering to both existing clients as well as new clients. In addition to work such as accounts preparation and audits we’re spending an increasing amount of time on transactional work so having Wes’ involvement and his experience will be invaluable.”

East Midlands refreshment companies merge

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East Midlands refreshment companies merge
East Midlands refreshments companies R+R Hub and Posh Nosh are merging, resulting in a predicted combined turnover of over £2m in the next financial year, and the joining of more than 30 staff. Posh Nosh have more than 20 years of experience as a corporate caterer. Rhona King, the Managing Director, started her journey in 2001, when an opportunity arose to rename her company at that time, to Posh Nosh, from a competitor who was in the process of retiring. Soon to join the business was Rob King, now the commercial director of Posh Nosh. The team has grown over the last 20 years to now include a multi skilled work force, of caterers, drivers, and a customer service team. R+R Hub on the other hand, is comparatively new, born out of a continued demand of a variety of vending solutions from their sister company, Cema Vending. R+R Hub saw an opportunity to meet more customer demand by providing workplace refreshments in commercial settings, with concepts such as Micro Markets. “This is such an exciting opportunity for everyone involved,” said Rhona King, Managing Director of Posh Nosh. “This move means that we are all looking forward to the future. We have some ambitious growth plans, so make sure that you watch this space for some exciting developments.” Simon Leadley, Managing Director of R+R Hub, described the merger as “a perfect fit.” He explained that “two local businesses combining to offer the complete solution will mean that the best possible service can now be provided to our customers.”

Work completes on £23m urban logistics development in Wigston

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Work completes on £23m urban logistics development in Wigston
Developer Chancerygate has achieved practical completion on a 128,000 sq ft Grade A urban logistics scheme in South Wigston, near Leicester, which has a gross development value in excess of £23m. Known as Genesis Park, the development comprises 15 urban logistics units ranging from 4,800 sq ft to 18,570 sq ft which are available on a freehold or leasehold basis. Located close to a Tesco superstore, Lidl and Wickes, the development is just over five miles south of Leicester city centre and is also well connected to the M1 and M69. All units at Genesis Park feature electric vehicle charging points, secured cycle parking and 15 per cent roof lighting. In addition, the units are constructed from high-performance building materials to reduce CO2 emissions. The scheme has a BREEAM rating of Very Good and the units have an EPC rating of B. Chancerygate development director and head of its Birmingham office, Mark Garrity, said: “Genesis Park is a fantastic new addition to South Wigston’s well-established warehousing and logistics area. “Our new development provides occupiers with much-needed sustainable, high specification urban logistics accommodation in a well-connected strategic location within the East Midlands. “We have every confidence Genesis Park will be an enduring economic asset for the area, ensuring businesses are best placed to grow and deliver ongoing job creation.” Agents for Genesis Park are Avison Young, Phillips Sutton and JLL.

Work starts on 333 new homes for Fairham, Nottingham

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Work starts on 333 new homes for Fairham, Nottingham
On Friday (June 16), Countryside Partnerships, the mixed tenure developer, was joined by local dignitaries and stakeholders to mark the start of construction of 333 new homes at Alvaredus, Fairham, a new community being built to the south of Nottingham. Cllr Neil Clarke MBE, leader of Rushcliffe Borough Council joined representatives from the scheme’s housing providers, developers and partners, comprising Countryside Partnerships, emh group, Start Living, Gatehouse Investment Management, Clowes Developments and Homes England. The new development, called Alvaredus as a nod to the area’s lineage to Alvaredus de Clifton, a Norman knight, will deliver 333 new homes and provide a sustainable new community made up of two, three and four-bedroom properties. The new homes comprise 133 homes for private sale, 100 affordable homes for emh group and 100 private rental homes through Start Living, the single-family build-to-rent joint venture between Gatehouse Investment Management and TPG Real Estate Partners. Martin Harrison, Managing Director, North East Midlands, Countryside Partnerships, said: “I’m immensely proud to welcome our partners and stakeholders to site to celebrate the start work on Alvaredus, a new, attractive and sustainable community for Nottingham. “This is a start of an exciting new chapter for the area; widening the choice of homes, bringing employment and boosting the local economy.” Rushcliffe Borough Council’s leader and portfolio holder for strategic and borough wide leadership, cllr Neil Clarke, said: “I am thrilled to witness this ground-breaking ceremony that marks the beginning of housing development here at Fairham. “Today symbolises years of work and collaboration with the developer (Countryside), the landowners and other partners and stakeholders along with a commitment to create a community and legacy that we can all be proud of. “Let us celebrate this momentous occasion and look forward to the vibrant and thriving neighbourhood that this housing development will form part of.” Paul Stockwell, Managing Director of Gatehouse Investment Management, said: “Having worked closely with Countryside Partnerships on other developments, it is hugely pleasing to be undertaking another project with them, which when finished will be Start Living’s third site in Nottingham. Start of works is a major milestone for the scheme, and we look forward to welcoming families to the homes once construction is complete.” Robert Hepwood, director – Clowes Developments, said: “After many years of planning Fairham, we are absolutely delighted to welcome Countryside Partnerships to the development. To date, most of the works at Fairham have centred around a £100million infrastructure works package, ensuring that power, utilities, sewerage, drainage, and roads are in place. “The first four buildings on Fairham Business Park are nearing completion with occupiers scheduled to move in before the end of the year. We have worked closely with the NET to create a brand-new access road off Mill Hill serving the Park and Ride and Fairham. “Having the first housing developers mobilising their team on site is a very exciting next step for Fairham.”

Alvaredus will form part of Fairham, the 606-acre mixed use neighbourhood scheme championed by Homes England and Clowes Developments. Fairham will not only deliver new employment opportunities but will also assist Rushcliffe Borough Council in meeting its new homes target of 13,500 dwellings by 2030.

LLC completes hattrick of “spectacular” National Licensing Week Events

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LLC completes hattrick of “spectacular” National Licensing Week Events

Licensing Law Consultancy (LLC) has, for the third time, hosted the National Licensing Week Event 2023 in Nottingham, an event described as “spectacular.”

The National Licensing Week Event was conceived and first delivered in June 2019 by Walaiti Rathore and Licensing Law Consultancy.

The purpose was to support the Institute of Licensing’s annual National Licensing Week campaign, with a large scale national event to celebrate and raise awareness of licensing and the role it plays in everyday lives.

Once again, the event was a private invitation-only black tie celebration. These events have been attended over the years by representatives of the Institute of Licensing, directors of UK Hospitality and the Confederation of British Industry, Pub Watch, the Gambling Commission, Hospitality Association, leading operators with a local and national presence, representatives from international hospitality brands as well as leading businesses and professionals from all sectors.

Guests, over the years, have been treated to canapes, a three course meal, unlimited complimentary drinks all evening, spectacular entertainment acts and music, and have received various gifts including items from fashion designer Paul Smith.

The evening this year was compered, once again, by Bikram Rathore, who gave an overview of licensing’s importance and pivotal role in our efforts to recover from the number of crises currently shaping our economic landscape, before introducing a stellar line up of speakers; Dan Davies, the UK Chair of the Institute of Licensing and CEO of Rock Point Leisure, Karl Thomas, Chief Inspector of Nottinghamshire Police for the city centre, George Wishart from the Licensed Trade Charity, and Marcellus Baz, winner of BBC Sports Personality of the Year and CEO of the Switch Up group.

All speakers emphasised the importance of partnership working to help overcome the current challenges faced in hospitality and licensing, to ensure vibrancy and safety in businesses as well as in our communities.

Walaiti Rathore said: “I am humbled, once again, by all the guests who attended as it would not have been possible without them, some of whom travelled long distances to Nottingham to support LLC and this event.

“These events continue the aim of involving representatives or members of organisations within or closely connected to licensing and also people from businesses and professionals with no such connections. This has proved to be the best way to reach out to the wider public.

“A special mention this year for Alea for their continued incredible support as well as Michael Wisher Team Support, Chaiiwala, Equinox Audio Visual, Freedom Brewery and Clever Socks.”

Management buy-out for Lincolnshire engineering firm

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Management buy-out for Lincolnshire engineering firm
Lincolnshire-headquartered engineering firm, Blackrow, has undergone a management buy-out (MBO). Established over 40 years ago, the Grimsby-based firm provides specialist fabrication services to a blue-chip customer base across the world, with the 300 strong workforce delivering solutions including conveyors, gantry, mezzanine and platform manufacture, control and automations systems, structural and pipework fabrication and installations. The MBO sees Managing Director, Tony Booker, together with Gary Pexman (sales director), Nick Rands (operations director), Luke O’Brien (structural/piping director) and Callum Day (electrical director), join the board and become majority shareholders. Blackrow’s current directors and shareholders – Neil Ellis (finance director), Chris Marfleet, Darren Broughton and Glenn Richie – will remain on the board and retain an investment in Blackrow. ABN AMRO provided new facilities to fund the transaction. James Elliott, director at ABN AMRO, said: “Blackrow has a fantastic reputation in its markets and an impressive, loyal customer base. These factors, together with an excellent pipeline of projects over coming months and years led us to want to support the MBO and the future growth of the business.” Neil Ellis, finance director, said: “The current shareholders of Blackrow have had succession plans in place for some time and its very pleasing to have seen the MBO team take shape over the last few years and to transition into leadership roles, delivering excellent service to our customers and driving fantastic growth for the business. We believe that Blackrow is in very good hands for this next phase of its growth.” Tony Booker, Managing Director, said: “Neil, Chris, Darren and Glenn have led Blackrow through periods of both opportunity and challenge and the strength of the business today is testament to their determination to invest continuously in the business’s facilities, people and capabilities. The MBO team are delighted to be given the opportunity to acquire Blackrow and to continue to build and grow this market leading, regional business.” Blackrow and the shareholders were advised by corporate finance advisers, Dow Schofield Watts (Roger Esler, Paul Herriott, Jonathan Wilkinson, Mike Barker), legal advisers, Andrew Jackson Solicitors (Andrew Funnell, Jon Croft, Adrian West) and tax advisers, Tax Advisory Partnership (Russ Cahill). ABN AMRO was advised by Shoosmiths. The MBO team was advised by Wilkin Chapman (Adam Ottley). Roger Esler, corporate finance partner at Dow Schofield Watts, said: “It’s been a pleasure working with Blackrow over several years as the company navigated the challenges of the Covid pandemic to emerge as an even stronger and larger business today, with a fantastic reputation in its target markets and creating a robust platform for the MBO.” Andrew Funnell, head of corporate at Andrew Jackson Solicitors, added: “Blackrow has been through a number of buy-outs in its 40 year history and having been adviser to the company for over 20 years, it is great to see it continue its journey as a management owned business, with this MBO being the culmination of careful succession planning.”

Geldards chairman awarded MBE for services to business and the economy in Derbyshire and Nottinghamshire

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Geldards chairman awarded MBE for services to business and the economy in Derbyshire and Nottinghamshire
Geldards chairman David Williams has been awarded an MBE for services to business and to the economy in Derbyshire and Nottinghamshire in the King’s Birthday Honours List. An MBE (Member of the Order of the British Empire) is awarded for outstanding achievement or service to the community which has had a long term significant impact and stands out as an example to others. David has lived and worked in the region for over thirty years and has long been a champion of the East Midlands, advocating for the region’s growth and prosperity in the various positions he holds including, deputy chair of D2N2 LEP, chairman of EMB Group, non-executive director of East Midlands Chamber and Board member at Nottingham Trent University. Internationally, David also regularly represents the East Midlands abroad and has participated in trade missions for the region to China as well as attending MIPIM in Cannes, the world’s leading property event. Since joining Geldards in 1989 David has been an instrumental force in driving forward Geldards’ business expansion in the East Midlands, making a strong commitment to the region with offices in both Derby and Nottingham. Commenting on his award, David, said: “I am truly honoured and humbled to receive an MBE for Services to Business and to the Economy in Derbyshire and Nottinghamshire. I am committed to driving the East Midlands forward to become a regional powerhouse of productivity and growth for the country. “With its unique blend of infrastructure, business innovation and superb transport links boosting connectivity to and from the region, the East Midlands is an outstanding and ambitious area for business to succeed and grow. With its ambitious plans our region can compete nationally and internationally to be amongst the best in which to conduct business.” Jeff Pearson, Chief Executive at Geldards, said: ”My congratulations go to David who is an extremely worthy recipient of an MBE for his tireless support for the East Midlands. As well as being an inspirational leader and ambassador for our firm, David has been a driving force in championing the region. Everyone at Geldards is delighted that his significant contribution to regional businesses and the economy has been recognised.”

Practical completion achieved at Fairham delivering almost 270,000 sq ft of logistics space

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Practical completion achieved at Fairham delivering almost 270,000 sq ft of logistics space
Hines, a global real estate investment, development, and property manager, in a joint venture with a global investment manager, have delivered three modern industrial units at Fairham Business Park in Nottingham, spanning a total of 268,814 sq ft, ranging in size from 65,810 to 101,775 sq ft. The joint venture acquired the site from Clowes Developments in a forward funding transaction. Clowes Developments acts as development manager. In total, the joint venture in conjunction with Clowes Developments is developing eight state-of-the-art warehousing and light-industrial units covering a total of 1.15 million sq ft across the East Midlands. Clowes, working alongside main contractor TanRo, reached practical completion of the first three units, B1, 2 and 3 at Fairham marking delivery of prime logistics space at the brand-new development. Furthermore, significant infrastructure works have also been completed including a brand-new signalled access road into Fairham and existing road improvements from Mill Hill Island to Clifton South Park and Ride. In 2022, 195,000 sq ft of space was delivered by the joint venture at Dove Valley Park in South Derbyshire. The remaining units under development, located at Castlewood Business Park and East Midlands Distribution Centre, are anticipated to complete during the course of 2023. Greg Cooper, Managing Director at Hines in the UK, said: “We continue to meet the needs of occupiers, delivering high-quality logistics space in a supply constrained market. “Each of the three units at Fairham are high specification, with BREAAM ‘excellent’ certification achieved including EV charging infrastructure and the ability to support the installation of solar photovoltaic (PV) panels. “We look forward to continuing our work with Clowes to deliver the remaining space at Castlewood Business Park and East Midlands Distribution Centre this year.” James Richards, director at Clowes Developments, added: “The practical completion of three units at Fairham Business Park marks a step forward in our commitment to deliver best-in-class warehousing across the East Midlands. “Our lead contractors, TanRo, have delivered this significant development totalling 268,000 square feet, to a tight schedule and have produced a set of quality industrial use facilities setting a high standard for this brand-new business hub. “With one occupier already lined up to take over one of the units, we are looking forward to watching the business park flourish with activity in the months to come. Our most recent development, A1 at Fairham Business Park is also fast approaching completion with its intended occupiers finalising the legal documentation ready for moving in later this year.”

East Midlands manufacturers see a brightening picture as outlook improves

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East Midlands manufacturers see a brightening picture as outlook improves

East Midlands manufacturers have seen an improving economic outlook as the domestic and global markets have improved, easing fears of a significant recession for industry this year.

The findings in the Make UK/BDO Q2 Manufacturing Outlook survey show a marked pick up in the last quarter with both output and orders increasing significantly to balances at +57% and +43%, both substantially ahead of the national average. In particular, the East Midlands has benefitted from the pick up in the automotive sector as chip shortages and supply chain blockages have eased. Car registrations increased for the tenth successive month in May.

In line with this improving picture job prospects are improving substantially with the balance of companies increasing recruitment in the last three months at +14%, jumping substantially to a balance of +36% in the next quarter. East Midlands companies are also planning to boost investment with the balance of companies planning to increase investment at +7%, below the national average but still in positive territory.

In terms of overall output this year Make UK and BDO are forecasting a contraction of 0.3% although this is a significant improvement from the contraction of -3.3% made in Q1 and the -4.4% forecast at the end of last year. However, Make UK is maintaining its previous forecast for growth of just 0.8% in 2024. UK GDP growth is at 0.4% for 2023 and 1.3% for 2024.

Charlotte Horobin, Midlands region director at Make UK, said: “Manufacturers in the East Midlands are seeing a gradually improving picture but the word ‘gradually’ is doing a lot of heavy lifting.

“However, companies are at least seeing a relative period of stability after the political and economic turmoil of the last few years when they have spent most of their time firefighting. Substantial challenges still remain and so long as there is an absence of an overarching industrial strategy growth prospects will remain anaemic at best.”

Jon Gilpin, head of manufacturing at BDO in the Midlands, said: “Despite the first half of the year seeing some pressures easing for local manufacturers – and the short-term prospects looking healthier for it – there are longer-term systemic challenges in the UK market, with built-in inefficiencies that need to be addressed urgently in order for manufacturers to effectively plan and invest.”

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