- A £2.3m contract to manufacture and install contemporary kitchens for 370 apartments for rent in the centre of Birmingham. The Octagon is a £110m 49-storey tower developed by City Developments and is Deanestor’s second project for Midgard.
- Deanestor’s second kitchen and bedroom fitout project for developer Crown Student Living. This is a £1.6m contract with Winvic at St Ann’s Road in Nottingham, which will provide around 400 new student homes.
Record new orders and strong financial performance for East Midlands manufacturer
Mansfield-based Deanestor, the furniture and fitout specialists, has reported a record order intake of around £24m in the last six months. The business is now anticipating its highest ever turnover in 2023, which is projected to rise to £22m. This will be an increase of £2.8m compared to last year.
Since the start of 2022, production volumes have continued to rise steadily as Deanestor’s factories returned to pre-pandemic levels of turnover and profit. Turnover in 2022 increased sharply by 35 per cent to £19.2m in comparison with 2021.
The record intake is for fitout projects for both new and long-standing repeat clients and contractors and are across a diverse range of markets from build-to-rent and student living in the private sector, to healthcare and education.
The latest orders include:
Chesterfield reveals ambition to increase visitor economy by £32 million
Ahead of English Tourism Week 2023 (17 – 23 March), Chesterfield has announced its bold ambition to increase the value of its visitor economy by 20% by 2030.
A 20% increase in tourism will bring an additional £32 million into the economy annually helping create jobs for local people and opportunities for existing and new businesses.
The town will build on its heritage, retail and leisure offering as well as its proximity to the Peak District National Park, to increase the number of overnight stays in the town.
As part of its drive to attract people to visit and stay in the town, the town’s inward investment marketing campaign Destination Chesterfield has appealed to businesses and residents to ‘talk up the town’ within their networks and help attract visitors.
Peter Swallow, chair of Destination Chesterfield, said: “Chesterfield has an excellent offer for visitors, as well as the town’s close proximity to one of the most visited National Parks in the world. There is an opportunity for us to attract more people to visit and stay overnight in Chesterfield using the town as a base rather than just passing through on their way to the Peak District.”
The Peak District currently welcomes more than 13 million visitors annually with 83% of these arriving by car. Attracting some of these visitors to stay in Chesterfield and using its bus and rail links to visit surrounding areas, including major attractions like Chatsworth House, will not only benefit the borough’s economy but also support the Park Authority’s Sustainable Transport Action Plan.
Additionally, there are cycle paths into the Peak District, the border of which is just five miles from the town centre.
Jo Dilley, Managing Director of Visit Peak District & Derbyshire praised Chesterfield’s ambitions, saying: “Tourism already plays a vital role in making the area such a brilliant place to live, work and visit, and we strongly support Chesterfield’s ambition to grow the value of its visitor economy even further.
“The tourism sector generates billions of pounds for the local economy each year, supporting thousands of local jobs and displaying huge potential for future growth, particularly in areas such as sustainable and active travel, which Chesterfield can really capitalise on.
“Growing and developing the town’s tourism offer will not only benefit local businesses, it will also have a positive and lasting effect on local residents and communities. We look forward to working with partners in Chesterfield to support them in achieving this goal and ensuring the visitor economy’s long-term success.”
Mark Thurman, Managing Director of Casa Hotels which owns and operates two four-star hotels in the borough, urged people to ‘celebrate what we’ve already got,’ saying: “We don’t need to reinvent the wheel. We have wonderful accommodation, great restaurants and fantastic transport links to bring people to Chesterfield to then go and explore the surrounding area. We don’t need to do anything other than celebrate what we’ve already got.”
The town’s proximity to the Peak District has already attracted major investment to the borough including the £300 million PEAK, an all-year-round round leisure education, wellness and entertainment destination. PEAK’s masterplan has been developed around a transport and mobility system connected to the National Park. Phase one of the development, Gateway at PEAK, which is being developed by Milligan is expected to be completed in 2025.
The town is already home to the award-winning Casa Hotel and further hotel accommodation is planned within the £320 million Chesterfield Waterside scheme located close to the town’s mainline train station. The developer, Bolsterstone Group Plc, is in talks with major hotel brands to operate the proposed 120-bed hotel within Phase 1 of the scheme. The new hotel will be a further addition to the popular 92-bed Premier Inn Hotel which was opened within the Elder Way development in the town centre in 2019.
Increasing the visitor economy of the town is one of the key targets in the 2023-27 Chesterfield Growth Strategy which was launched by Chesterfield Borough Council on 23 February. In addition to growing the visitor economy, key headline targets, include:
· Increasing the number of employee jobs in the borough by 4% (2,000 jobs)
· Increasing the number of businesses by 12% (400 businesses)
· Increasing the number of higher value businesses by 15% (100 businesses)
· Increasing the share of Chesterfield residents in knowledge-based occupations by 15% (baseline Census 21 – 18,000)
· Increasing the value of the visitor economy by 20% (baseline £163m)
Councillor Kate Sarvent, Chesterfield Borough Council’s cabinet member for town centres and visitor economy, said: “We are already a fantastic visitor destination but growing our visitor economy strengthens growth across the borough, it leads to more people supporting our local businesses and town centre.
“This will in turn create new jobs and opportunities for our residents. To do this we need to work closely with our partners to promote our town, we have excellent transport connections, fantastic accommodation choices and our proximity to the Peak District puts us in a very strong position to bring more people to our town.”
Peter added: “The lasting and far reaching change we are striving for in Chesterfield cannot be done by one organisation alone; it must be a collaborative effort. By doing this, there is a real opportunity to build a thriving visitor economy in the town.”
Construction starts on new £1.5m locomotive maintenance facility in Leicester
Construction has begun on a new £1.5 million locomotive maintenance facility at rail vehicle engineering and maintenance provider, UK Rail Leasing Ltd.’s (UKRL), depot in Leicester.
This new facility has been designed to maintain new classes of locomotives and provide UKRL significant extra capacity in Leicester to expand its maintenance business. It is also expected the expansion, once operational in early 2024, will create 15 new, highly skilled jobs.
Construction of the new shed, which will be completed in 2023, is being supported by a development loan from HSBC UK.
Mark Winter, Managing Director at UKRL, said: “This expansion in Leicester means we will be playing our part in developing a more efficient rail network by providing maintenance services for clients where they are needed. The new shed also increases our capacity for all our customers who know our expertise in maintenance and servicing rail vehicles ensures reliability.”
Leicester’s City Mayor Sir Peter Soulsby said: “UKRL’s expansion with this new locomotive shed is good news for the city. Since founding in Leicester almost ten years ago, this important and innovative engineering company has gone from strength to strength, making major local investment, creating new skilled jobs and helping to put our city on the map as a fantastic place to do business.”
John Smith, CEO of GB Railfreight, said: “For the rail freight sector to grow, we need investments like the one that UKRL are making in Leicester. This state-of-the-art depot will provide a new facility for locomotive maintenance that will improve sustainability and efficiency for freight operators, in addition to driving jobs and growth in the East Midlands region.”
New Derby primary school hits construction milestone
A topping out ceremony has taken place to mark the progress made on a new Derby school. Oak Grange Primary School will open in September, ready for the new academic year.
The school at Boulton Moor is being built within the Snelsmoor Grange housing developments, The Meadows and Holbrook Grange. New developments at Snelsmoor Grange and Fellow Lands Way in Chellaston are creating 990 new homes, creating more demand for primary school places in the area.
Morgan Sindall Construction started work on the Oak Grange project last August. The topping out ceremony celebrated the completion of the external structure and roof of the building, which has been funded through Section 106 contributions from the housing developer.
East Midlands Education Trust, a partnership of 22 high-performing schools in Derbyshire, Nottinghamshire and Leicestershire, has been chosen to open the school. Oak Grange Primary will build pupil numbers incrementally, increasing by one year group each year. When it opens in September, admissions will be for Nursery and Reception children only.
The school will then increase in size gradually each academic year until it reaches its capacity of 315 pupils, aged from 4 to 11 years, in September 2029.
The new school building has been designed to allow community use at evenings and weekends and the school’s facilities will be made available for out-of-hours use by local community groups.
Councillor Evonne Williams, Cabinet Member for Children, Young People and Skills at Derby City Council, said: “It’s wonderful to see Oak Grange Primary School reach this exciting milestone. The school will be at the heart of this new neighbourhood, becoming a hub not just for the children but the wider community.”
Richard Fielding, area director for Morgan Sindall Construction, said: “We’re incredibly pleased to mark this important milestone at Oak Grange Primary School. It’s great to see the building take shape and to have completed the external structure and roof.
“This project is particularly exciting as it hasn’t just been designed with pupils in mind, but for the whole community to utilise at evenings and weekends too. This will make it a real focal point for the area when it opens later this year. It’s a place we hope all local residents can enjoy.”
Race car manufacturer to open new corporate headquarters at Donington Park
Radical Motorsport, the race car manufacturer, is opening new corporate headquarters within Britain’s oldest motor racing circuit, Donington Park.
The facility will be located at the main entrance to Donington Park, just 100 metres from the circuit itself at the Melbourne Hairpin entry.
The move into the former Formula E headquarters comes after Radical Motorsport’s most successful year in its 25-year history, and marks an historic moment for the company, moving the customer-facing sales and marketing teams away from its factory in Peterborough for the first time since its incorporation.
Radical Motorsport’s manufacturing and production base will remain at the Peterborough factory, with customer-facing and commercial departments expanding to the new Donington Park facility. The factory in Peterborough has been home to Radical Motorsport since it was founded 26 years ago in 1997, and the company remains fully committed to its roots in Cambridgeshire.
The new Radical Motorsport corporate HQ is set to become a destination for owners and fans alike, a venue for automotive events and a unique meeting space for business partners and corporate reservations. Open to the public throughout the year Monday to Friday (9 am to 5 pm) and on selected race weekends, Radical Motorsport will open its doors to welcome all visitors to Donington Park.
Behind the scenes, in addition to the office space for its sales, marketing, and motorsport staff, the premises will be able to provide the expanding Radical Motorsport dealer network with dedicated training opportunities to be able to better serve its growing customer base across the world.
Joe Anwyll, Radical Motorsport CEO, said: “We looked at a number of non-circuit-based locations in the UK to host our expanding commercial team. However, with British motorsport tracks widely known as being some of the best in the world, we had to take this opportunity, as a British motorsport manufacturer, to be right on the doorstep of the action.
“As well as our expanding team and record production numbers this year, this move to Donington Park will allow us to pursue ventures we’ve been unable to from our factory. Our cars belong on track, so it’s only fitting we be present there too.”
Jonathan Palmer, Chief Executive of circuit operator MotorSport Vision (MSV), said: “I’m delighted that Radical Motorsport has decided to move its corporate headquarters to Donington Park. Since MSV took over the running of the venue in 2018, it’s been our ambition not just to create an improved competitor and spectator experience, which we’ve already achieved through numerous venue improvements, but also to elevate the circuit’s standing as a major national hub of motorsport businesses.
“Radical Motorsport is a much-admired and globally recognised manufacturer of sports racing cars, and I’m delighted it’s recognised the significant benefits of being based at one of the UK’s leading race circuits. With the addition of Radical Motorsport alongside a growing portfolio of businesses, and further developments planned at the estate, including the renovation of Donington Hall as an incredible mansion house hotel, the future for the site is looking very bright indeed.
“I extend a very warm welcome to Joe Anwyll and his team and look forward to seeing the completed facility soon.”
Plans are afoot for the new facility to complete and open to the public Spring 2023.
Warsop Health Hub works fully approved to begin in the summer
A new community hub will now be able to move ahead at full speed following successive decisions by Mansfield District Council and recent funding grant success.
The council has been offered a £1.8m capital grant by Sport England to kick-start the Warsop Health Hub project, based at Carr Lane Park, off Carr Lane.
The scheme is one of six projects included in the council’s bid to the Government’s Towns Fund.
Of the £12.3m awarded from the Fund to the district, £3m is allocated to the health hub plan. The council will provide £1.5m from reserves and the £3.5m shortfall will be made from council borrowing to bring the project to fruition, making the final project cost £9.2m.
On February 3, the council was also successful in its bid to create a Changing Place at the hub, and was offered £103,967 of funding. The decision to accept this funding was taken on 17 February by the Head of Health & Communities.
On March 13, the planning committee met again following a site visit the previous week to discuss the application for the hub and gave it full planning permission.
This was followed by an executive decision by Mayor Andy Abrahams on March 14 to confirm the total project costs, the council’s borrowing amount, make Serco Leisure Ltd/More Leisure Community Trust the centre operator and for works to begin on the site in the summer.
Councillor Andy Burgin, Portfolio Holder for Environment and Leisure, said it was brilliant news to see the project begin to take shape.
“We are absolutely thrilled not to have just been successful in our bid for funding to progress our plans at Warsop,” he said.
“I’m pleased to say our work doesn’t stop here in trying to secure further funding to support this project, which may reduce the council’s borrowing level further.
“We are committed to improving health and wellbeing facilities in the area, and with the offer of a grant from Sport England and full planning permission, we can now press ahead with these exciting plans for Warsop.
“Following a consultation with residents in 2020 about what their priorities were and what they wanted to see in the area, we are delivering this new health hub that’s packed with new facilities inside and outside with the new and improved multi-use games area.
“I want to thank the whole team – both at the council and our wider community groups and partners – who put the case together for this successful bid, and I look forward to the project moving to the next stage.”
Once complete in October 2024, the hub will see a new 15×8 metre swimming pool, splash play area, a changing village, a fitness suite, a multi-purpose hall, café viewing and IT area, Multipurpose meeting / Community space and a new and improved multi-use games area created in the parish. The decision to press ahead with the project aligns with the delivery of three of the council’s corporate priorities: wellbeing, aspiration and place.
Elected Mayor of Mansfield Andy Abrahams added: “With the additional offer of a grant from Sport England, plus confirmation of our additional borrowing, I am thrilled to see our plans for providing improved health hub facilities to support health and wellbeing activities for the residents of Warsop moving ahead with pace.
“This health hub will make a real difference within the immediate and wider community in the district, and I look forward to seeing works begin in the summer now we have full planning permission.”
Connect Derby has best start to the year for five years
Connect Derby, the city’s primary managed workspace provider, has enjoyed the best start to a year for five years, with 6% of space currently under offer.
78,000 sq ft of office and studio accommodation is currently let, with 5,600 sq ft under offer – the highest level in the past five years and a clear indication that the managed workspace provider has recovered from the downturn following the pandemic.
In the current financial year, the workspace provider has let more than 7,600 sq ft of space.
The success comes as a result of Connect Derby’s strategy of responding to the changing nature of the workplace with the introduction of new, flexible ways of working.
A diverse range of businesses have already taken space at Connect Derby buildings this year, including property, construction and infrastructure consultancy Pick Everard who have left their former home on Queen Street in the city to join Sadler Bridge Studios.
Launched in 2014, Connect Derby supports small and medium enterprises, providing them with the flexible accommodation, advice, and guidance they need to support growth. A variety of accommodation is available, including conventional offices and studios, along with co-working space, hot desk facilities and virtual tenancies.
Connect Derby continues to innovate in order to support businesses following the pandemic. Fully furnished offices were introduced in 2021, giving businesses the opportunity to rent offices on a short-term basis of up to six months.
A new hybrid office scheme is soon to be launched at Friar Gate Studios for businesses who want to combine the flexibility of remote working with having an office base.
Businesses will be able to occupy a hybrid office for up to three days a week, with another business occupying the space on the remaining days. They will occupy the same office on the same days each week.
Commenting on its success so far this year, Ann Bhatti, head of Connect Derby, said: “To see such growth across the Connect Derby portfolio is a fantastic achievement and is a testament to the quality of our offer.
“Over the past couple of years, we’ve introduced a number of new, flexible ways of working to support businesses as they navigate the new world of work, the cost-of-living crisis, and rocketing energy bills.
“Our diverse workspaces and the flexible packages we offer mean that all types of business can join us, regardless of their size.
“We will continue to innovate as we help businesses face the new challenges presented by the evolving nature of the world of work.”
Free places for 200 SMEs at Growth Hub ‘cost-of-business’ expo
Businesses have been invited to a free business expo to learn more about reducing costs, saving on energy use, and recruiting more effectively.
Delegates will be able to build networks and gain business support advice at the event being staged by the Business Gateway Growth Hub next month.
Its purpose is to signpost business owners to available support, whilst also providing practical tools and tips to help manage the current cost of doing business crisis.
Businesses can register now to attend the one-day conference, which will take place in Leicester in April.
The expo is aimed at small and medium-sized businesses in Leicester and Leicestershire which are looking for tools, tips, and information as they head into the new financial year.
Glynis Wright MBE and Sonia Baigent, both Members of the Leicester and Leicestershire Enterprise Partnership (LLEP) Board, will host the event.
Subjects to be covered are set to include:
- What small businesses need to know about saving on energy costs
- Effective recruitment, onboarding, and engagement of employees
- Navigating debt and maintaining financial resilience
- Leadership in challenging times
- An anonymised Q&A session offering free practical advice to your questions.
Government “coming after” developers failing to sign Gove’s building safety contract
Michael Gove has secured the signatures of the country’s biggest housebuilders on the developer remediation contract, a major step toward ending the building safety scandal.
Thirty-nine developers – including the top ten biggest housebuilders in the UK – all put pen to paper on the legally binding document before this week’s deadline and irreversibly committed themselves to fix unsafe buildings they developed or refurbished.
Signatories represent a substantial proportion of the housing market, and the signed agreements will raise at least £2 billion for remediation costs.
Developers will be legally bound to pay to fix their unsafe buildings and eligible developers who fail to sign will not be able to operate freely in the housing market. Developers who have yet to sign the contract include: Abbey Developments, Avant, Ballymore, Dandara, Emerson Group (Jones Homes), Galliard Homes, Inland Homes, Lendlease, London Square, Rydon Homes, Telford Homes.
Following the contract deadline passing, Secretary of State for Levelling Up, Housing and Communities, Michael Gove, said: “I have been clear all along – those that are responsible for this crisis must pay. So, I am grateful to those developers who have done the right thing today by signing this legally binding contract.
“We will be monitoring their progress on remediation very closely, to ensure this work is completed urgently and safely. For those developers that have taken responsibility, today offers the chance for a reset, so we can get on and build more of the safe, decent and affordable homes we so desperately need.
“To those developers that have failed to sign the contract without good reason, let me be very clear – we are coming after you. If you do not sign, you will not be able to operate freely in the housing market. Your investors will see that your business model is broken – only responsible developers are welcome here.
“But today should not be about developers, or about government. Today is about innocent leaseholders. I want to put on record my apology to all leaseholders for the years of misery and hardship you have endured. You should never have been ignored, asked to pay and let down.
“Today marks a turning point – and an important step towards resolving this crisis. There is so much more to do, but I will always act to protect leaseholders and end this injustice.”
Signatories are required to fix all life-critical fire-safety defects in all English buildings over 11 metres they had a role in developing or refurbishing. It also requires them to reimburse the taxpayer where government funds have already paid for remediation, with that money being used to make other buildings safe faster.
For developers who have signed, their obligations start immediately. Leaseholders will benefit from a common framework of rights and responsibilities that will get their buildings fixed without them having to pay, and developers will be required to inform residents in affected buildings how they will be meeting these commitments.
The Government will publish further information next week on how developers will be prohibited from carrying out major development or from receiving building control approval unless they sign and adhere to the contract, using Building Safety Act 2022 powers.
Regulations will establish the Responsible Actors Scheme and set out the criteria for eligibility and the conditions of membership. Eligible developers who do not sign the contract will not be able to join the Scheme and will be subject to the prohibitions.
CAPITAL Seating secures succession plan through Santander UK-backed management buyout
Swann Systems, the holding company for CAPITAL Seating, has undergone a management buyout in a deal supported by FRP Corporate Finance and Santander UK.
Based in Leicester, CAPITAL Seating was established in 1968, and specialises in the supply of suspension seats and accessories to improve driver safety and comfort for all types of vehicle, as well as vehicle trimming services under the AUTO-TRIM Systems brand.
The company is an official distributor for major seat brands including Grammar, KAB and Recaro, and supplies a wide range of sectors, catering to trade and retail customers across the UK and Europe.
The sale to a new holding company will see the existing, long-serving management team led by Joe Beales, Darren Tuckley and Melinda Tyack assume control of the business, as part of the next stage in the company’s long-term succession planning. The buyout funded by Santander will also provide finance for further growth of the successful company into the future.
The deal sees an exit for the Swann family, who have been involved in owning and managing the business since its inception, with current Managing Director, Stephen Swann, transitioning into a consultancy role to provide on-going non-executive support for the management team.
FRP Corporate Finance was appointed to assist CAPITAL in raising new debt facilities to support the management buyout. Led by corporate finance partner Harry Walker and senior manager Fahim Kassam, the team sourced a number of competitive offers from several traditional and alternative debt funders and worked closely with the team at CAPITAL to identify Santander as the funding provider that would best suit the business’s ambitions.
Commenting on the deal, Harry Walker, director at FRP Corporate Finance, said: “For any business owner, formulating a viable succession plan is a key step in ensuring that the vision they have worked so hard to deliver is continued into the future.
“With this in mind, we’re glad to have been able to support CAPITAL with its management buyout and financing in anticipation of future growth. We’re excited to see where they go next and wish the Swann family, the management team and everyone at the company the very best.”
Stephen Swann, Managing Director at CAPITAL Seating, said: “Since the business’s founding more than 50 years ago by my father, we’ve prided ourselves on being a local employer that strives to deliver the best client service in our industry.
“I am proud to be handing on the business to a management team that have worked alongside me and led the business for a number of years now. The company is in a great place for further growth and development in the future and this deal will provide a fantastic platform for the team to take it forwards.
“Fahim and Harry at FRP Corporate Finance exceeded our expectations in securing a range of attractive funding options for the buyout, whilst ensuring the deal was transacted smoothly for the benefit of all parties. We’re very thankful for their support and really appreciate the value that their involvement in the deal added.”
Simon Clewlow, director, Growth Capital, at Santander UK said: “We are delighted to provide this exciting business with funding to support its management buy-out and look forward to working with it as it grows over the years to come.”
FRP Corporate Finance provided fund-raising, project management and deal structuring advice, with tax advisory support from Rowley’s Chartered Accountants.
A team from BHW Solicitors led by Steve McElhone provided legal advice to the vendors, with a team from Howes Percival led by Jahid Ali, Oliver Brookshaw and Haydon Simmonds supporting the MBO team and company.
A team from Browne Jacobson led by Emma Hinton and Chereta Edmeade provided advice to the Santander UK team, led by Simon Clewlow and Paul Elliott. Pippa Miller-Hawkes and Phil Todd from BSN Associates provided financial due diligence to Santander UK.
