Work gets underway on new trade park in Long Eaton

Tess Egginton
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Work gets underway on new trade park in Long Eaton
Work is underway on a new scheme in Long Eaton, Derbyshire, that will see the development of a new Lidl and Wickes store in the town. IMA Architects (IMA) is working with Clowes Developments to provide all architectural services and act as Principal Designer on the scheme. The company will work alongside Millward Consulting Engineers and Roe Developments to deliver the site, known as Stadium Trade Park. The 1.68-hectare Stadium Trade Park will be built on a brownfield former industrial site that has been derelict since 2014, located just off Nottingham Road. Completion is expected next year and once finished, the site will feature a new Lidl and Wickes stores, car parking for 157 vehicles, a service yard and all associated boundary treatments and landscaping. The site will also bring new employment opportunities to the area. Marc Freeman, director at Clowes Developments, said: “We are delighted to welcome both Wickes and Lidl GB to Stadium Trade Park. The site has been in the planning stage since 2018, so it’s great that we are now up and running on the build. We expect both the new Lidl and Wickes stores to be very popular with the local community once they are complete and bring economic benefits to the town.” Joe Travers, associate director at IMA Architects, said: “This is our latest project with Clowes, and we are enjoying regenerating this site which has been derelict for so long. Given the close proximity of residents, we have been considerate to their needs and our plans include additional landscaping, boundary treatments and acoustic mitigation measures to improve aesthetics and to ensure the scheme does not adversely impact local people.” Sarah Tait, property director at Wickes, said: “We’re thrilled to be expanding our Wickes store in Long Eaton, Stadium Trade Park. The masterplan of the site and the fact that we can be involved in the design stage meant we could develop a location that perfectly suited our needs, and we are looking forward to opening the store in early 2024.” Lidl GB’s regional head of property, Dominic Bryan, said: “We are delighted to be part of this development and looking forward to bringing our high-quality produce at the best possible value to those in the local community.”

Fastest rise in East Midlands business activity since May 2022

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Fastest rise in East Midlands business activity since May 2022
The headline NatWest East Midlands PMI® Business Activity Index – a seasonally adjusted index that measures the month-on-month change in the combined output of the region’s manufacturing and service sectors – posted 51.5 in April, up slightly from 51.2 in March. The latest data signalled a marginal rise in output at East Midlands private sector firms. Nonetheless, the rate of expansion in activity was the fastest since May 2022. Greater output reportedly stemmed from increased new order inflows and further upticks in client demand. That said, the pace of growth was slower than the UK average, with only Wales registering a weaker rise in activity. East Midlands private sector firms signalled a third successive monthly upturn in new business during April. Companies linked the expansion to greater demand from existing clients and the acquisition of new customers. That said, the rate of growth slowed to only a marginal pace. In fact, of the 12 monitored regions, only Northern Ireland registered a slower increase in new orders. April data signalled a strengthening in business confidence across the East Midlands private sector. Output expectations improved to the highest since February 2022, with the region’s companies more upbeat about the outlook for output over the coming 12 months than the UK as a whole. Hopes for greater client demand, investment in marketing and new product development spurred optimism. Stronger business confidence was broad based, with manufacturers more upbeat than service providers. Private sector firms across the East Midlands registered a renewed rise in employment during April. The upturn was the third in the last four months, with the rate of job creation moderate overall. Higher workforce numbers were often attributed to greater business requirements following increased new orders. Of the 11 monitored UK regions that signalled growth in employment, only the North East recorded a slower uptick than the East Midlands. The level of outstanding business at East Midlands firms continued to contract in April, thereby extending the current sequence of decline to seven months. The rate of decrease was strong overall and the fastest in 2023 so far. Companies noted that sufficient capacity to process incoming new business allowed them to work through their backlogs successfully. The decline in work-in-hand was in contrast to the UK trend which signalled unchanged levels of incomplete business. East Midlands firms registered a marked rise in input costs at the start of the second quarter. Input prices increased following reports of greater raw material, supplier and wage bills. Nonetheless, the rate of cost inflation slowed again to the weakest since February 2021. The pace of increase was also slightly softer than the UK average. Manufacturers and service providers recorded slower upticks in cost burdens, although the latter saw much sharper increases in business expenses. April data indicated a renewed uptick in the rate of output charge inflation at East Midlands firms. The rise in selling prices was marked overall and sharper than the series average. Hikes in output charges were commonly linked to the pass through of higher costs to clients. The pace of charge inflation was the second-slowest in two years, despite being broadly in line with the UK average. Rashel Chowdhury, NatWest Midlands and East Regional Board, said: “East Midlands firms signalled a sustained upturn in output during April, as a further rise in new orders supported total activity. “Increased demand spurred firms on to expand workforce numbers, and the rate of job creation was the fastest since last October. In turn, companies were more upbeat in their expectations for the coming year as business confidence reached the highest in over a year. “Inflationary pressures remained marked, however. Although firms noted a softer rise in cost burdens again, there was a renewed acceleration in charge inflation which is likely to add strain to already challenged customer purchasing power.”

New South Derbyshire business grant scheme launched

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New South Derbyshire business grant scheme launched
South Derbyshire District Council has launched a new grant scheme for businesses, backed by the UK Shared Prosperity Fund and Rural Economic Prosperity Fund. The grant scheme aims to encourage business development and job creation by supporting private investment in growth-enhancing activities. Grants will be targeted at smaller businesses, helping them to increase productivity, purchase equipment, introduce new processes or techniques, start or grow their exports, or introduce new products or services. The grant scheme aims to enhance business resilience, stimulate enterprise and innovation, enable businesses to access new markets, and encourage green growth. Grants can part-fund new capital or revenue investment that businesses would like to undertake in South Derbyshire prior to 31 December 2024. The first competitive call for Expressions of Interest will close on 30 June 2023. Following this, if funds remain available, grants will be offered on a first come-first served basis.

25 jobs saved as Hollywood Monster acquires Sygnet Group

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25 jobs saved as Hollywood Monster acquires Sygnet Group
Hollywood Monster, the printing and signage contractors, has acquired Sygnet Group. The acquisition will mean the entire Sygnet Group workforce will retain their employment, saving 25 jobs in total. Hollywood Monster is already the largest wide format printing and signage contractor in Birmingham. Now, as a leading trade contractor in the UK, the combined business has 65 employees and a turnover of £12 million, with the capability to print over 15,000 sq m of high-quality, sustainable signage per day. The Midlands-based company supplies to some of the world’s most high-profile brands and events, as well as exhibitions at London Excel and Birmingham’s NEC. Operating as a trade supplier, this latest development will enable the business to expand its offering to its trade partners, further still, drawing on Sygnet’s extensive permanent contract experience within property, construction, events, exhibitions, and retail. The new addition to Hollywood Monster will continue to trade from its site in Leicester as Sygnet Fabrications and its branding will undergo an update, with a new logo and website already under development. It will continue to provide bespoke solutions such as totems, wayfinding, and retail and corporate signage, as well as rollout programmes, under the leadership of Hollywood Monster. Tim Andrews, chairman at Hollywood Monster, says: “This is an exciting time of growth for Hollywood Monster, and we’re delighted that Sygnet, who has contributed so positively to the print and signage industry over the last 45 years and who share our values, can continue to deliver quality, cutting-edge projects as Sygnet Fabrications. “We are especially pleased that the acquisition will lead to the retention of 25 members of staff, who have tremendous knowledge of the industry and have shown unwavering loyalty throughout their time at the company. “Like Hollywood Monster, Sygnet started as a family run business who work tirelessly to meet the needs of its customers, and its approach to innovation and the production of quality products makes it a perfect fit as we continue to grow to become one of the largest trade printers in the UK. “We will be investing a significate amount in the business over the next few years, and we are delighted to welcome the Sygnet team into the fold as we work together to deliver impactful and sustainable results to our customers.”

Sales dip at Eurocell

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Sales dip at Eurocell
Sales have dipped at Eurocell, the manufacturer, recycler and distributor of window, door and roofline PVC products, in the first four months of 2023. Down 2% compared to “a very strong equivalent period in 2022,” the company has been impacted by weakness in both the repair, maintenance and improvement (RMI) and new build markets. Meanwhile the firm has continued to experience cost inflation, particularly for electricity, and though PVC resin prices have fallen back slightly this year, they remain volatile, while feedstock prices for Eurocell’s recycling plants remain significantly higher than the comparative period in 2022. It comes as the Construction Product Association’s (CPA) latest forecast, published earlier in May, reaffirmed a reduction in the RMI market of -9% for 2023 (unchanged from the January CPA update), but now predicts a further decline in new build to -17% (previously -11%), before both markets recover in 2024. Taking the above factors into account, Eurocell now expects adjusted profit before tax for 2023 to come in below current market expectations. It also anticipates a heavy weighting towards the second half of 2023 for sales and profits.

East Midlands businesses believe in ‘Brand Britain’

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East Midlands businesses believe in ‘Brand Britain’
As the UK increasingly looks abroad for trade deals and investment opportunities, mid-market businesses in the East Midlands confirm that they are confident in the international appeal of British products and services.
In Grant Thornton’s latest Business Outlook Tracker survey, three quarters of the business leaders in the East Midlands (75%) said that Brand Britain is helpful to UK firms when trading internationally.
This confidence in the nation’s overseas perception was markedly higher in the East Midlands compared to the national average of 66%. This may be explained by the fact that 75% of the region’s business leaders believe the East Midlands has an effective and consistent strategy to attract global investments.
The survey showed that Britain’s ability to host large events with global audiences has helped give the nation a strong brand among international markets. 71% agreed that events such as this week’s Eurovision have given Brand Britain a global boost.
Alongside notable events and regional strategies, domestic politics has influenced how the UK is viewed in other countries. When questioned about the impact of Brexit, almost three quarters (73%) agreed that it had strengthened Brand Britain and only 14% disagreed. 
The positive view of Brand Britain aligns with the fact that businesses have international growth high on their agenda. In the survey, 76% of respondents in the East Midlands said they would invest either more or the same in international growth over the next six months. 
James Brown, Managing Partner in the East & Central region at Grant Thornton UK LLP, said: “The appeal of Brand Britain has always been strong and it’s great to see that East Midlands business leaders recognise it as a strong card they can play to achieve international growth. While not taking place in our region, events like Eurovision really help draw attention to the UK and provide an opportunity to showcase the nation’s capabilities on a global stage.  
“It’s also really exciting that Nottingham and Derby may be home to one of the government’s proposed new investment zones, which could be pivotal in boosting productivity and growth and helping our region build its international reputation further.
“That’s not to say that international expansion is easy, as it involves a lot of careful planning to navigate customs and trade agreements. It’s important to understand these complexities and to have the right information, structures and support in place.”

East Midlands manufacturer fits out new £18m primary school campus

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East Midlands manufacturer fits out new £18m primary school campus
A new £18m primary school campus has been fitted out by Mansfield-based Deanestor, working with main contractor Morgan Sindall Construction. The new Prestwick North Education Campus has replaced two primary schools and was delivered for South Ayrshire Council. Deanestor fitted out 125 rooms across the campus based around 42 room types. These were designed to create inspiring spaces where students can socialise, learn and flourish and include 22 classrooms, flexible learning zones, multi-purpose hall, sports hall, drama studio, and reception area. The fitted furniture manufactured by Deanestor – primarily storage units, shelving, and worktops – were finished in maple as part of the biophilic design strategy which uses a mix of natural tones to reflect the local landscape. Deanestor installed more than 1,200 items of loose and fitted furniture for this project, from storage space to white goods, tables, chairs, staging, dispensers, and whiteboards. Designed by BDP, the campus will accommodate more than 800 pupils who will benefit from a wide range of spaces for teaching and learning, such as interactive play areas, an early years’ centre, outdoor classrooms, and first-class sports facilities. William Tonkinson, Managing Director of Deanestor, said: “We are very proud to have been part of the team responsible for this fantastic new campus which was completed on budget and to the highest quality standards. “I am pleased to report that we have now been awarded a second school campus fit out contract by Morgan Sindall Construction, to the value of £1.7m, working once again with South Ayrshire Council, hub South West, and BDP.” Councillor Stephen Ferry, South Ayrshire Council’s Portfolio Holder for Education, said: “We are committed to providing children and young people with the very best possible start in life. Prestwick Educational Campus will provide a modern and engaging environment for learning and will ensure pupils can thrive throughout their years at the school.” Michael Ross, Chief Executive of hub South West Scotland, said: “We are incredibly proud to have led the delivery of this project for South Ayrshire Council which was completed early and on budget. The Prestwick Campus was a real team effort and a huge well done goes out to all partners involved who have gone above and beyond, delivering the project to the highest quality standards.”

Barwood Capital eyes growth with new business development manager

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Barwood Capital eyes growth with new business development manager

Towcester-based Barwood Capital (Barwood) has promoted investor relations and marketing manager, Hayley Gordge, to the newly created role of business development manager, as it looks to further grow its investor base.

Taking a lead role in the fund raising and investor relations team, Hayley will be seeking new investors for Barwood’s diverse range of regional property funds and vehicles for both commercial and residential opportunities. 

“Having been with Barwood for over 10 years, I have a strong relationship with our existing investors and a wealth of experience to bring to the role. I believe in our mission of generating strong and sustainable growth by investing responsibility in UK regional real estate,” said Hayley. 

Hugh Elrington, Managing Director at Barwood, added: “Hayley has proved to be a valuable member of the team as we’ve grown the business over the past decade, and is perfect to help us expand our investor network as we continue to explore real estate opportunities in the UK regions where we can bring real added value.”

Hayley’s new position at the company comes soon after returning from maternity leave with her second child. 

“Supporting members of the team who are parents is an integral part of our company culture,” she adds. “In a world where so many parents are often overlooked by their employers for promotion after taking a career break, with the assumption they aren’t committed, I am proud to say that Barwood is not one of those companies.”

New Nottinghamshire office for project management firm

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New Nottinghamshire office for project management firm
Consultancy firm Bentley Project Management will soon take up a new home at Ruddington Fields Business Park following the completion of works to revamp the space during the summer. The firm, which is currently based in Lockington in Derbyshire, has taken some 5,278 sq ft of office space at Discovery House with plans to relocate during the summer months following a transformation being led by Arc Business Interiors. Managing Director Jonathon Bentley, said: “2023 is an important year for us – we celebrate our 10-year anniversary in a few weeks’ time, and we have been taking the time to consider our strategy for growth as we move into our second decade with exciting plans to take the business forwards. “Our new office location plays a key role in those plans and we are really looking forward to making the move once the transformation is complete later this year. We’re working with the team at Arc Interiors at the moment to breathe new life into the space and create a workspace that reflects our ethos which is something we are really excited about.” Work to revamp the space at Discovery House has now begun and will include a range of sustainable design elements including the use of recycled carpets throughout – with the existing flooring being recycled – and elements of biophilic design throughout. The open floor plan will provide collaborative workspaces and meeting areas, social spaces as well as quiet ‘pods’ for meetings. Andrew Hobson at Arc Business Interiors said: “We are really pleased to be working alongside Bentley to deliver their vision for a modern and creative office space that really supports its ambitious plans over the coming months and years. This is a real team effort and we are looking forward to seeing the concepts coming to life.” Thomas Szymkiw of FHP oversaw the deal on the behalf of the landlord, Capita. He added: “I am delighted to have assisted Bentley Project Management with their relocation and expansion at Discovery House.  The building will provide them with a stunning office in beautiful surroundings – close to Rushcliffe Country Park and all the fantastic amenities the town of Ruddington has to offer. “It was a pleasure to work with both landlord and tenant on the transaction and I wish the team at Bentley all the best of luck for the future.”

Bank of England raises interest rates to 4.5%

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Bank of England raises interest rates to 4.5%
The Bank of England has raised interest rates from 4.25% to 4.5%, with inflation anticipated to stay higher for longer than previously expected. The 12th successive increase sees rates sit at their highest level since the 2008 financial crisis. The Bank is now expecting the inflation rate (currently at 10.1%) to be over 5% at the end of the year, rather than below 4%, as forecast in February, thanks to high food prices and a resilient job market. The Bank’s official inflation target is 2%.

Martin Beck, chief economic advisor to the EY ITEM Club, reacted: “The Bank of England’s approach since late 2021 of consistently increasing interest rates continued this month. A 7-2 majority on the MPC voted to raise Bank Rate by 25bps to 4.5%, adding to the most significant tightening in monetary policy in over 30 years and lifting the policy rate to the highest since October 2008.

“In the view of the majority on the MPC, another rate rise was justified by an economy more resilient than expected, persistent strength in domestic price and wage setting, and a tight jobs market. The impact of the first factor was revealed in the biggest upgrade to growth forecasts in the MPC’s history. Thanks in part to further falls in wholesale energy prices, previous predictions of a prolonged recession have been revised away and the Bank of England now expects the economy to expand 0.25% this year and 0.75% in 2024, versus declines of 0.5% and 0.25% in its last forecast in February. That said, the Bank of England’s forecast for growth next year is still below the latest consensus of 0.9%.

“With the latest rise in Bank Rate widely expected, the big uncertainty in advance of the MPC’s latest decision was the message the committee would send about the likelihood of yet more rate increases in the months ahead. On that score, the MPC kept the door open to more tightening if inflation proves “persistent”, retaining the data-driven approach it has set out in recent meetings. And there was no sign of push back against current market interest rate expectations, which, in advance of May’s meeting, saw Bank Rate peaking at 4.75%-5% later this year.

“The EY ITEM Club is warier about expecting further increases in Bank Rate. Granted, the Bank of England thinks inflation will fall less rapidly than in its last forecast, mainly due to an assumption of higher food price inflation, with the Consumer Price Index (CPI) measure predicted to be just above 5% at the end of this year. And the Bank of England still sees significant upside risks to the inflation outlook from “second round effects” of high inflation feeding into domestic prices and wages.

“But there’s now a lot of monetary tightening in the system, and the impact on activity and prices comes with a lengthy lag. The Bank of England’s own estimate is that only a third of the impact of rising rates has yet been felt by households. And the Bank’s central forecast shows inflation falling well below the 2% target during 2025. Since the Bank of England targets headline inflation, it will be increasingly difficult to present a justification for more rate rises while also forecasting a substantial undershoot of the inflation target.

“What’s more, the next couple of months are likely to bring a significant decline in headline, core and services inflation, as lower energy prices push down headline inflation and, indirectly, weigh on underlying inflationary pressure. This should further depress inflation expectations among the public, feeding through into lower wage demands, constraining businesses’ ability and willingness to put up prices.

“But the hawkish skew of today’s announcement, with upgrades to growth and inflation forecasts, suggests one more rate rise wouldn’t be out of the question. And if the Bank of England’s expectation of greater stickiness in inflation proves true, the prospect of rate cuts may be delayed until well into 2024.”  

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