Work to transform former Newark M&S store to start this summer

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Work to transform former Newark M&S store to start this summer
Newark and Sherwood District Council is one step closer to transforming the empty former M&S building in Newark Town Centre. Once an award of contract has been made, it hopes to appoint a developer to progress 32 Stodman Street in the next few weeks into an attractive hub made up of homes and retail units.
Plans see the build of 29 high-quality residential homes in the heart of Newark which will provide a new town centre housing offer with an eye-catching and vibrant design. Plans also include two refurbished retail units which will improve Newark’s retail offer with the aim of attracting more people into the town centre. Councillor David Lloyd, Co-Chair of Newark Town Board and Leader at Newark and Sherwood District Council, explains: “We want our town centres to have a thriving future where living, working, shopping, leisure and enjoyment come together. While Newark performs well compared to the UK average for numbers of vacant town centre retail units, it’s important that we continue to do all we can to attract people. “Retail change shouldn’t mean town centre decline. It should be an opportunity. By repurposing an important site in the centre of the town, we hope to inject new life in the area with the aim to make the heart of Newark a great place to live and shop. Newark is unique and has so much to offer already with fantastic independent retails sitting alongside national stores, but this development really will add to the vitality of our historic market town. “I am delighted that we are hoping to appoint a building contractor imminently and that work will hopefully start this summer!” Already the District Council has completed preliminary work at the empty site, including the removal of large amounts of asbestos and clearance of internal partition walls to ready the site for the proposed re-development. While inflationary pressures have caused the costs to rise on this development, the District Council says it will not stand by and leave it vacant. Despite a vigorous search and engagement process where a long list of national traders had been approached to find a retailer to occupy the store as it is, no one has stepped forward as the current unit is too large for most traders in town centre locations. Cost increases were predicted but will not affect the viability of the project and generating a repayment and return on the investment. Once approval is sought from Cabinet on 21 February 2023, the District Council will pursue development. Subject to Cabinet approval and agreement with the appointed contractor, work on the site could commence in late summer this year. The construction phase is likely to begin around Christmas 2023 with completion in summer 2025. The Stodman Street development is one of many projects being funded by Newark Towns Board’s successful application to the Government’s Towns Fund initiative. It is being delivered by Newark and Sherwood District Council whose aim it is to breathe new life in Newark town centre. Other projects include the £3m restoration of Newark Castle, a £2.1m cultural project aiming to provide a varied and exciting events programme alongside investments to improve the town centre even further and the £4.4m Newark Gateway project aiming to bring more business and employment opportunities to Newark.

Smith Partnership Solicitors names three new partners in round of promotions

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Smith Partnership Solicitors names three new partners in round of promotions
Smith Partnership Solicitors, based in the East Midlands, has welcomed three new partners to the firm – two who have been promoted and one who has recently joined. Danielle Upton and Clare Cuomo have both risen through the ranks at Smith Partnership, which has offices in Derby, Leicester, Burton, Swadlincote, Stoke-on-Trent and the newly opened Ashby. Danielle, who works in the commercial property department, was shortlisted for the Rising Star category of the British Legal Awards last year for her work securing space for the upscaling of a Derby-based firm which is a key UK supplier of COVID-19 lateral flow tests to the Government. She joined Smith Partnership in November 2014 after completing her Legal Practice Course at the prestigious Nottingham Law School. She advises clients on a full range of property transactions including freehold and leasehold acquisitions and disposals as well as secured lending, and has a particular expertise in complex commercial landlord and tenant matters. Clare works in the childcare team in Derby and represents parents, grandparents, family members and children, as well as the Children and Family Court Advisory and Support Service, in cases which are often highly sensitive and complex. Clare was admitted to the Child Panel in 2005 and continues to remain a member of the association which works in the best interests of children and young people. Zoe Romain has over 14 years’ experience specialising in complex property transactions and joins the commercial property team in Derby after eight years at Actons Solicitors in Nottingham. Zoe has built up a reputation for providing pragmatic advice to clients across a wide range of property transactions including high value and complicated Landlord and Tenant transactions within office, industrial and retail sectors. Zoe enjoys the additional challenges of providing property support on restructuring and insolvency pre-pack transactions and in connection with property disputes. Kevin McGrath, managing partner, said: “It is an absolute pleasure to be able to announce these thoroughly deserved promotions. In addition to promoting two partners and welcoming Zoe to our firm, three staff have also been successful in being promoted to associate level. Well done to all.” In the annual round of promotions, which follows an interview panel held at the end of last year, Beth McGovern, Carly Harwood and Rebecca Green have been made associates. Beth McGovern joined Smith Partnership in 2012 working as a paralegal in the crime department in Leicester. A graduate of Combined Social Sciences at The University of Lincoln, Beth went on to complete her Graduate Diploma in Law and later the Legal Practice Course at Nottingham Law School. She has also been identified as a rising star in the 2023 Legal 500. She carried out her training contract with Smith Partnership and qualified as a solicitor in July 2017. Carly Harwood is a private client associate specialising in Wills, Trusts and Estates, including drafting wills and the preparation and management of Lasting Powers of Attorney. She has completed the Society of Trust and Estate Practitioners diploma and is a full member of STEP. Rebecca Green joined Smith Partnership in February 2021 as a chartered legal executive within the Private Client department based at the Burton office. She specialises in private client matters including Wills, Asset Protection, Lasting Powers of Attorney, Court of Protection applications for those that lack capacity, Probate applications and Estate Administration and has been assisting and advising clients for over 10 years.

Rolls-Royce lands biggest ever order of Trent XWB-97 engines

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Rolls-Royce lands biggest ever order of Trent XWB-97 engines
Rolls-Royce has received an order from Air India for 68 Trent XWB-97 engines, plus options for 20 more. This is the biggest ever order for the Trent XWB-97, which exclusively powers the Airbus A350-1000. Air India has also ordered 12 Trent XWB-84 engines, the sole engine option for the Airbus A350-900.
This is the first time that an Indian airline has ordered the Trent XWB and the deal will make Air India the largest operator of the Trent XWB-97 in the world. Financial details of the order are not being disclosed. Tufan Erginbilgic, CEO, Rolls-Royce plc, said: “Today’s announcement marks an exciting and truly remarkable occasion for Tata Group and Air India; the size and magnitude of this order reflects the level of their ambition for the future. “I congratulate them on taking this bold step towards becoming one of the world’s greatest airlines and I would like to thank them for putting their trust in Rolls-Royce to power them on this journey. “Air India is the first Indian airline to order the Trent XWB and the size of the commitment, including options, will make them the biggest operator of the Trent XWB-97 in the world. With a dynamic and growing aviation industry, India is a strategically important market for us and we look forward to working with Air India as they connect their passengers across global communities and cultures.” Campbell Wilson, CEO, Air India, said: “We are delighted to commence this partnership with Rolls-Royce, and to have their Trent XWB engines power our new fleet of A350 aircraft. We are confident that they will provide us with the reliability and efficiency consumers expect of today’s leading airlines, and thereby play an important part in Vihaan.AI, Air India’s comprehensive transformation and growth strategy.”

Manufacturer of defence vehicles becomes majority shareholder in HORIBA MIRA’s UGV division

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Manufacturer of defence vehicles becomes majority shareholder in HORIBA MIRA’s UGV division
HORIBA MIRA, the Leicestershire provider of automotive engineering, research and test services, has sold a majority stake in MIRA UGV, its Uncrewed Ground Vehicle (UGV) division. IDV, which has over 85 years of experience in the development and manufacturing of protected vehicles for military use, is to become the majority shareholder in MIRA UGV, which will remain headquartered at MIRA Technology Park. The agreement brings together IDV’s expertise as a manufacturer of defence vehicles with its technological know-how and global production capabilities, with HORIBA MIRA’s position as a sector-leading company in delivering state-of-the-art Uncrewed Ground Vehicle solutions. The agreement also provides capital and capability to move HORIBA MIRA’s UGV platforms and technology to the next stage of development and production.

Second phase of Unity Square office development tipped for approval

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Second phase of Unity Square office development tipped for approval
The next phase of Nottingham’s Unity Square office development looks set to move ahead, with the city council recommending plans for approval. Peveril Securities and Sladen Estates are behind the major scheme on Queens Bridge Road, for which the original hybrid application was approved in January 2019.
Phase 1 of Unity Square is now complete and occupied by HM Revenue and Customs (HMRC). If given the green light, Phase 2 would provide a 12 storey office development with parking  for 30 cars and 100 cycles. 235,000 sq ft of space would be provided.
The reserved matters planning application will be decided on next week.

Green light recommended to extend Nottingham building for student scheme

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Green light recommended to extend Nottingham building for student scheme
Plans to extend a Nottingham City Centre building to provide 104 student bedspaces have been tipped for approval. Maven Property (Nottingham) LP are behind the proposals for the two storey building on Lower Parliament Street, whose ground floor is occupied by two retail units for Poundland and Bonmarche. The plans for the site involve an upward extension of between one and three stories to create a building three to five stories in height. The ground floor would be retained as retail use, with the upper floors used as 104 student bedspaces with a mixture of cluster and studio flats. The development also includes communal lounges, a gym, a laundry room and cycle store with two small roof gardens. The development would be three stories at the northern end facing Lower Parliament Street, stepping up to five stories facing Thurland Street.

Lincolnshire gets £1.6m to develop new wave of skills bootcamps

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Lincolnshire gets £1.6m to develop new wave of skills bootcamps
The Greater Lincolnshire Local Enterprise Partnership has been awarded £1.6m by the Department for Education to develop a new wave of Skills Bootcamps in partnership with Lincolnshire County Council. Skils bootcamps are free, flexible training courses which give people the opportunity to build up sector-specific skills and fast track to an interview, a new role with an existing employer, or new contracts from the self-employed. Greater Lincolnshire has a head start because the Greater Lincolnshire LEP has already started developing Skills Bootcamps with a small number of local organisations as part of the Department for Education’s Wave 3. Already running are one in Immingham, offering modal training, and one in Skegness, teaching cookery. Funding for Wave 4 means that colleges, training providers and employers in Greater Lincolnshire will soon be asked to develop Skills Bootcamp proposals to help fill local skills gaps and support people into jobs. Simon Telfer, chair of the LEP’s Employment and Skills Advisory Panel, said: “Thanks to our proactive partnership with Lincolnshire County Council we’re ahead of the game nationally when it comes to Skills Bootcamps. These fully funded flexible training courses run for up to 16 weeks and aim to help everyone gain they skills they need for life. “They are free for learners, they can be online, face-to-face or a mixture of both, and they provide learners with the technical skills that employers need. We’re delighted that our proposal to Government has been successful.” Councillor Patricia Bradwell, Executive Councillor for Adult Learning at Lincolnshire County Council, said: “I’m delighted that we’ll be able to extend the number of Skills Bootcamps on offer in the county. There are now so many ways to start a career in Lincolnshire, with lots of options for free courses and informal training that can lead on to apprenticeships and more formal qualifications. “It’s a real priority for us to support people into the jobs they want, and to support our businesses with the workforce they need.”

Dunelm sees “strong sales growth”

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Dunelm sees “strong sales growth”
Dunelm has seen “strong sales growth” while pre-tax profits have declined, according to interim results for the 26 weeks to 31 December 2022. The Leicestershire-based homewares retailer opened three new stores in the period, during which sales were up 5% to £835m, from £795.6m in the same period of the prior year, and 43% higher than pre-pandemic (in H1 FY20). Profit before tax was down on the prior year, slipping to £117.4m from £140.8m, which the firm said was expected and reflected the impact of sale timing and strong post-pandemic demand in the prior year, as well as inflationary impacts. Looking ahead, during the period, Dunelm made a £17m investment in digitalisation, capability and capacity to support future growth opportunity. Reflecting on current trading the company noted that whilst customers have been resilient to date, the consumer outlook remains unpredictable. Dunelm’s profit expectations for the current year, however, remain unchanged. Nick Wilkinson, Chief Executive Officer, said: “We are all learning to live in a new, complex and rapidly evolving economic reality. Recognising this, our focus has been on ensuring that we continue to offer outstanding value to our savvy customers through a proposition which is committed to quality, at the right price, across an expanding range of relevant products. We believe that this is why we have continued to grow our sales, customer numbers and market share. “In this environment, agility, creativity and innovation are more important than ever and we have endeavoured to make every pound count, both for ourselves and for our customers, helping to mitigate the impact of inflation. While we do this, it is important that we also maintain our long-term thinking, invest for sustainable growth and continue to ensure we are in a position to seize the significant opportunities ahead of us. “Much like during the pandemic, our customers, colleagues and the communities we operate in will remember how businesses behaved when times were tough, and we are confident that our approach of offering outstanding value and choice for all will enable us to – once again – emerge from this challenging period stronger than ever.”

What are your customers doing differently in light of the cost-of-living crisis? By James Pinchbeck, partner at Streets Chartered Accountants

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What are your customers doing differently in light of the cost-of-living crisis? By James Pinchbeck, partner at Streets Chartered Accountants
James Pinchbeck, partner at Streets Chartered Accountants, discusses the impact of the cost-of-living crisis on your customers and what businesses need to consider. With the rate of inflation having seemingly or hopefully peaked at a 40 year high and with Prime Minster Rishi Sunak’s announcement that he seeks to half the rate of inflation by the end of the year, we might start to feel some sense of easing in the cost of living. However, against this backdrop many households and businesses are still feeling the financial impact of the pandemic. This is aside from the fact that salaries are not keeping pace with inflation. How then does or is the current economic situation affecting customers and consumers alike and what do businesses need to think about or consider? Whilst this may depend on the nature of your business, the broad considerations tend to be the same. Perhaps the starting point is what we buy and why? Is it a necessity, essential through to desirable or even a luxury. Whilst we may cut back on and even forego luxuries, essentials are something we tend to continue to purchase. Though for such items, products or services, we continue to purchase we may consider or are more likely to consider alternative provision perhaps trading down or seeking lower cost alternatives. We may also look at reducing not just our rate of consumption or use, but even the frequency of our purchase. When it comes to where or who we buy things from, whilst we may have our preferred supplier or outlet in the current climate, we are increasingly likely to at least consider the same in a quest to find comparable cheaper alternatives. This is often even despite the longevity or depth of a business relationship. When things become financially tighter we tend to be more thorough and considered, often taking longer to make the decision to make purchases, certainly high value capital items and one-off purchases – a process which is likely to involve greater consideration and analysis before reaching or justifying the decision to purchase or not. Who doesn’t like a good deal or offer! Incentives, promotions and offers are likely to be key for those considering making a purchase as consumers and customers seek to get better value for money. Whilst businesses will no doubt look to adapt their marketing to respond to conditions affecting their business, perhaps one of the key areas to focus on is customer service and experience, both for existing and new customers. At a time when businesses are dealing with rising costs, supply chain shortages, even labour shortages, many will probably be experiencing a deterioration in their level of customer service and experience. Unfortunately, this comes at a time when most of us are feeling poorly served, perhaps are seeking or demanding more and as such puts in jeopardy our business relationship. Business as normal may be the approach of some, though for most if not all there is a need to consider both the short and longer term impact of the current situation. Few of us are likely to be running our businesses or undertaking our marketing in a year’s time like we are today. Taking time out to consider not only how your business is being affected but also what you need to do differently are likely to be key to your continued success.   See this column in the February edition of East Midlands Business Link Magazine here.

Over 100 SME manufacturers apply for £3m Made Smarter East Midlands

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Over 100 SME manufacturers apply for £3m Made Smarter East Midlands
More than 150 businesses have now applied for Made Smarter East Midlands – with two-thirds already going forward to the next stage. In excess of 100 eligible expressions of interest have been received since the programme launched in December. During an event staged as part of Leicestershire Innovation Festival 2023, three regional businesses this week described how digital technology had supported growth. The session, led by Made Smarter East Midlands Programme Director Dr Chris Owen, outlined how new digital technologies can help to reduce waste and inefficiency while increasing resilience and competitiveness. He was supported by case studies from:
  • Anne Ford, Managing Director of Hinckley-based ballscrew manufacturer PGM Reball;
  • Mike Hague Morgan, Executive Director of Grantham-based engine and battery manufacturer Autocraft Solutions Group;
  • Darren Joint, Managing Director of Grantham-based signmaker and digital printer Viking Signs.
Anne described the cultural shift as digital technology, viewed by some as taking jobs from people, was found to reduce mundane tasks and free up engineers to instead focus on skilled tasks. Mike summarised how digitalisation had helped Autocraft to develop new skills and careers. One outcome was taking on more tech apprentices, who then learned about manufacturing while transferring their own digital knowledge to existing staff. Productivity is the theme of this year’s Leicestershire Innovation Festival, which runs until Friday. The festival is led by the Leicester and Leicestershire Enterprise Partnership (LLEP). The launch event at Loughborough University last week heard that the vast majority of businesses in Leicester and Leicestershire have fewer than 250 employees. Therefore, in order to significantly increase regional productivity, it is essential that SMEs are able to do more while using less. There are 2,790 manufacturing SMEs operating in the East Midlands region. Made Smarter East Midlands commenced after East Midlands growth subs – including the LLEP Business Gateway Growth Hub – combined to win £3m of Government funding. Its goal is to engage with more than 400 manufacturing SMEs in Leicester and Leicestershire, Derby and Derbyshire, Nottingham and Nottinghamshire, Lincoln and Greater Lincolnshire. Applications are being accepted now from manufacturing businesses with between 10 and 249 employees and a turnover of up to £50m. All interested businesses need to do is register through the Made Smarter website. Eligible businesses will be moved forward through the programme, with ineligible businesses referred for alternative support. Of the successful applicants, 130 will move on to digital transformation roadmapping, with 80 of those receiving free and intensive technical advice to develop their proposition. Made Smarter has experts available across eight disciplines, including 3D printing, AR and VR, big data, mobile devices, Internet of Things, industrial cyber security and more. More than 50 grants are also available for capital or revenue products, based on 50% match-funded grants of up to £20,000.
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