UK astronaut Tim Peake officially opened Leicester’s pioneering space research, innovation and teaching cluster at a special ceremony.
Space Park Leicester is forecast to contribute £750m a year to the UK space sector over the next decade and is expected to support more than 2,500 direct and indirect jobs in the East Midlands.
British astronaut Tim Peake
The first British European Space Agency (ESA) astronaut to visit the International Space Station (ISS) declared Space Park Leicester open in the company of Leicester City Mayor, Sir Peter Soulsby, University of Leicester Vice-Chancellor, Professor Nishan Canagarajah, plus scientists, researchers, and representatives from the local community.
Speaking at the opening ceremony, passionate Science, Technology, Engineering and Mathematics (STEM) advocate Tim Peake said: “Leicester has long been a key location for the UK’s space sector, and it is a real privilege to formally open Space Park Leicester just a short distance away from the National Space Centre.
“Every successful space mission call for experts from a wide range of backgrounds to pull together and collaborate to answer bigger questions: and that’s exactly what somewhere like Space Park Leicester helps to provide.
“I’m also excited to see this project highlighting the exciting careers available within the space sector and helping to train, educate and inspire our future generations.”
Tim, who travelled to the ISS in 2015, was given a tour of the state-of-the-art facilities by Space Park Leicester Executive Director, Professor Richard Ambrosi, and also took part in a series of schools activities.
Developed by the University of Leicester in collaboration with local, national and international partners, the 9,700m2 building provides an inspirational base for space researchers and business minds to collaboratively work together from offices, shared laboratories, teaching facilities and co-working spaces.
The project builds on the University of Leicester’s 61-year history of space research and its role in establishing the neighbouring National Space Centre, and places Leicester at the forefront of space technology in the UK.
Professor Richard Ambrosi, Executive Director of Space Park Leicester, said: “We are delighted that Space Park Leicester, even before today’s formal opening, has already shown itself to be the ideal launchpad for cutting-edge space science research and enterprise.
“By hosting forward-thinking University researchers and high-end technology businesses under one roof, Space Park Leicester enables accelerated collaboration on some of the biggest questions of our time: not least the climate crisis.
“Space, by its very nature, feels very far away from our everyday lives here on Earth, but the work undertaken here has the potential to transform almost every aspect of society, from healthcare to the technology in our mobile phones.”
Award-winning Space Park Leicester houses laboratories, workshops and calibration facilities along with high tech projects such as the pioneering double-walled insulator for the Mars Sample Return 2026 NASA-ESA Mission as well as one of the UK’s largest academic clean rooms for the assembling and testing of space equipment. Other workshops allow researcher to expand work in machine learning and Artificial Intelligence (AI), while engineers have access to a dedicated drone lab.
Space Park Leicester also proudly hosts the headquarters of the NERC-affiliated National Centre for Earth Observation (NCEO).
To date organisations joining space, climate and Earth observation scientists include: nuclear propulsion experts Rolls-Royce; AST SpaceMobile, developers of the first space-based cellular broadband network for mobile phones; Satellite Applications Catapult, a government-backed technology and innovation company; and air quality specialists EarthSense.
The project’s ambition to become a world-leading centre of excellence has also been recognised with the prestigious ‘Place-Based Initiative of the Year’ accolade at the 2021 KE Awards.
Professor Nishan Canagarajah, President and Vice-Chancellor of the University of Leicester, said: “We are extremely proud to formally launch Space Park Leicester, and wish to thank Tim Peake for being part of this momentous occasion.
“Our University has a long-established track record of space research over the last six decades and, through the facilities provided here in collaboration with our local, national and international partners, we have well and truly placed Leicester on the map as a key cluster in the UK space sector.
“It is also fitting that we can reflect on our space heritage in this, our Centenary year, as Space Park Leicester gears up to work on technologies for use far into our second Century.”
Leicester City Mayor Sir Peter Soulsby added: “The development of this world-class facility has been made possible thanks to an outstanding partnership approach that has seen the University of Leicester working with the city council, the LLEP, the National Space Centre, Midlands Engine and others to transform immense ambition and vision into reality.
“It is already bringing together the best academic and business minds to stimulate innovation and growth, and further paves the way for an exciting future that will reinforce Leicester’s reputation as the UK’s Space City.”
Space Park Leicester is led by the University of Leicester in partnership with Leicester City Council and the Leicester and Leicestershire Enterprise Partnership (LLEP).
Phase one development at Space Park Leicester is supported by an £8.175m allocation from the Local Growth Fund, part of government funding awarded to the Leicester and Leicestershire Enterprise Partnership (LLEP) for projects that benefit the local area and economy.
Future plans include further development on the Leicester site, with a commercial Low Cost Access to Space (LoCAS) payload and satellite manufacturing facility for the manufacture of small to mid-range satellites.
Vertu Motors, the automotive retailer with a network of 159 sales and aftersales outlets, has purchased the freehold and long leasehold interests in its multi-franchise site in Derby.
The group has operated the 5.5-acre Derby multi-site since September 2012, when the trade and assets of the dealerships were acquired from Co-operative Group Motors Limited. A lease on the premises was granted to the group at the time of this purchase, with this lease due to expire in February 2026.
There are four separate buildings on the site, currently representing the Nissan, Skoda, Renault & Dacia and Peugeot franchises, along with a standalone Bristol Street Motornation used vehicle outlet. The purchase of the freehold and long leasehold interests secures the long-term future of this strategically important location for the group.
The purchase completed on 6 April 2022 for consideration of £7.1m, plus fees.
Robert Forrester, Chief Executive of Vertu Motors, said: “I am delighted to have secured the long-term interest in this important location for the group. The five successful sales outlets located here make a positive contribution to group performance and are a significant part of Bristol Street Motors representation in the East Midlands.”
Chesterfield is set to capitalise on the ‘flight to prime’ trend by businesses looking for high quality office space in the aftermath of COVID-19, with the launch of a brand-new digital marketing campaign.
With 81% of UK businesses agreeing they need to implement a new workplace strategy, following the lockdown-induced Work From Home movement, Chesterfield’s new campaign aims to prove it has the space to suit office requirements in the town as well as offering a central location and excellent road and rail links.
The new office campaign aims to reach national businesses looking for regional satellite office space as well as local start-ups and established businesses looking to expand.
The campaign, which is part-funded by the European Regional Development Fund, has been developed by Destination Chesterfield is partnership with Chesterfield Borough Council and Derbyshire Economic Partnership.
Chesterfield newest office developments, One Waterside Place and The Enterprise Centre both feature in the new campaign. Due to be completed later this year, they bring more than 100,000 sq ft of additional office space to Chesterfield’s offering.
The Government’s work from home advice was lifted on Thursday 27 January in England after being in place for nearly two years. With many organisations expected to adopt a work from home/office hybrid approach, demand has increased for flexible, modern large floor plate working space which is easily adaptable and has Covid measures in place.
Launching the campaign, which has been designed by digital agency Defeye Creative, Dom Stevens Destination Chesterfield Manager said: “Progress on the new office developments continued throughout the pandemic and this has put Chesterfield in an excellent position to capitalise on the changing demands for office space post Covid.
“People have been exposed to new ways of working, prompting companies of all sizes and sectors to completely rethink their workplace needs. People now want more choice in how, when and where they work, and we can meet this demand in Chesterfield.”
“With the new office developments at Waterside, the Enterprise Centre and The Glass Yard, alongside existing office provision, Chesterfield can now cater for businesses at every stage of their life cycle – from incubation stage to maturity.”
Councillor Tricia Gilby, Leader of Chesterfield Borough Council, added: “Chesterfield is a fantastic option for businesses whether they are looking to start, relocate or grow. We have a strong community, a skilled workforce, fantastic transport connections and a bright future. We’ve seen recently that the quality of life particularly for young families is unmatched and together all these factors show that Chesterfield is open for business. We are in an excellent position to recover from the pandemic and welcome new businesses and residents to our borough.”
FHP Property Consultants are delighted to confirm the letting of Unit 3 at Waterside in Nottingham to F45 Training. This exciting international brand which is endorsed by celebrities such as David Beckham and Mark Wahlberg has chosen the iconic Waterside building on Trent Bridge for the Nottingham venture.
Waterside is perfectly located close to West Bridgford and Nottingham city centre to make the most of a strong catchment. The unit provides accommodation over ground floor measuring approximately 2,000ft². It is a hugely prominent unit fronting Trent Bridge which has a daily traffic flow of over 40,000 vehicles. The unit is part of the award winning Waterside residential development which comprises 120 high specification apartments and it sits next door to the popular Waterside Bar & Kitchen.
FHP acted on behalf of private landlord clients working jointly with HEB in order to secure the letting.
Oliver Marshall, Associate Director at FHP Property consultants comments:“This is a superb result for this unit and one that will bring an exciting new international concept to the building and to Nottingham. The F45 brand is extremely popular and I wish Harry and Jorja the best success with their exciting journey ahead. The location is ideally suited to them and have committed to a long term lease on the ground floor unit.”
Harry Calver at F45 Nottingham comments:-We are so pleased to have finally received the keys for the unit. After a couple of false starts with other properties, we feel like this is the perfect location for us to launch F45 in Nottingham. We are already underway with our fit out and look forward to welcoming members in the next few weeks with a planned opening in Summer. Despite some difficult situations, Oliver at FHP was great to deal with throughout.”
Manufacturers are having a difficult time of it of late and figures from the Society of Motor Manufacturers and Traders (SMMT) show that the automotive industry is not immune to the problem.
Despite March normally being a bumper year due to new car registrations, the industry saw the weakest sales since March 1998, with new car sales slumping to 243,479 units, a drop of 14.3%.
Manufacturers had reported robust order books during the first quarter, but ongoing supply chain shortages continued to squeeze supply during what is normally the industry’s busiest month as buyers demand the latest numberplate.
This is, therefore, the weakest March since 1998, which was prior to the introduction of the two-plate system. Given around 20% of total annual registrations are usually recorded in March, the result is massively disappointing for the sector and underscores the long-term impact the pandemic is wreaking on the industry. In spite of the rollback of pandemic restrictions, which limited the industry to ‘click and collect’ in the first part of 2021, overall Q1 registrations for 2022 were down -1.9%.
Richard Peberdy, UK Head of Automotive, for KPMG comments : “It was widely anticipated that the automotive sector would take most of 2022 to sufficiently increase component capacity and put an end to the supply shortages that have limited car production during the pandemic.
But the implications of war in Ukraine and heightened restrictions in China add further complexity and exacerbate this challenge.
“Whilst supply shortages persist, production volumes will remain lower than pre-pandemic, and car makers will continue to focus on higher margin models, as well as the electric vehicles market.
Up until now, this has kept forecourt sales relatively healthy, and also driven up prices of used cars. But the rising cost of living poses significant questions about whether consumers will delay, or even curtail, larger investments, such as on a car. The coming months will tell.”
Mike Hawes, SMMT Chief Executive, says, “March is typically the biggest month of the year for the new car market, so this performance is deeply disappointing and lays bare the challenges ahead. While demand remains robust, this decline illustrates the severity of the global semiconductor shortage, as manufacturers strive to deliver the latest, lowest emission vehicles to eagerly awaiting customers.
Placing orders now will be beneficial for those looking to take advantage of incentives and lower running costs for electric vehicles, especially as the Ukraine crisis could affect supply still further. With increasing household and business costs, government must do all it can to support consumers so that the growth of electric vehicles can be sustained and the UK’s ambitious net zero timetable delivered.”
Only two weeks remain until the Property & Business Investment Lincolnshire Expo, so if you haven’t yet registered for the free event, now is the ideal time.
The highly anticipated expo, for which Business Link is a proud partner, will take place on Wednesday 27 April 2022 at The Bentley Hotel, Lincoln, providing everything you require for a great day of networking and business generation.
A well targeted event aimed at the Construction, Property, Business, Investment, Finance, Professional Services and related B2B markets, exhibitors include Aspbury Planning Ltd, Belvoir, Business Lincolnshire, BSP Consulting, Delta Simons, the Federation of Small Businesses, J Tomlinson, NatWest, Willmott Dixon, and YMD Boon, to name a few.
To see the full list of who is exhibiting click here.
Opening at 9am, the expo will also host a workshop from Team Lincolnshire and Business Lincolnshire. Running from 10:15 – 11:45, it will demystify the procurement process and explore the potential which public sector contracts could bring to your business.
Team Lincolnshire ambassador Neal Wheatley, director and general manager of RG Carter Lincoln Limited, and Barry Taylor, regional director at Parker Technical Service, will be sharing insightful first-hand experiences on winning a major Lincolnshire County Council contract for the construction of the South Lincolnshire Food Enterprise Zone and how supporting the local economy is a core value within the RG Carter Supply Chain Commitment.
Sign up to the free workshop here.
As the exhibition closes, it will roll directly into an informal, open buffet style network lunch – tickets for the lunch are just £25 plus vat and can be ordered and paid for directly online. Spaces for the lunch are limited, so order as soon as possible to avoid disappointment.
Tina King, of Business Shows Group, said: “It’s been a long time in the making thanks to the pandemic, but we are finally nearly there, The Property & Business Investment Lincolnshire Expo is gearing up to be one of the best to date!”
To attend the event, register for free here.To generate opportunities by exhibiting at the event, click here.Purchase tickets to the networking lunch here.
Meet more potential clients in one amazing cost effective day, than it would take months out on the road.
Michael Ball, tax director at Streets Chartered Accountants, dives into Making Tax Digital.
Since April 2019 most VAT registered businesses with a turnover over £85,000 have been within Making Tax Digital (MTD) for VAT. This means that they have had to keep digital records and submit their tax returns via MTD compatible software.
From April 2022 MTD for VAT is being extended to all VAT registered businesses. In practical terms this means that they will no longer be able to submit their VAT returns via the old HMRC portal.
What are the requirements?
As already referenced, under MTD a business must keep digital records, but what does that mean?
As the name suggests your business records need to be kept in a digital format, so manual records will no longer be allowed and the records must include the following details:
your business name, address, and VAT registration number
any VAT accounting schemes you use
the VAT on goods and services you supply
the VAT on goods and services you receive
any adjustments you make to a return
the ‘time of supply’ and ‘value of supply’ for everything you buy and sell
the rate of VAT charged on goods and services you supply
reverse charge transactions – where you record the VAT on both the sale price and the purchase price of goods and services you buy
your total daily gross takings if you use a retail scheme
items you can reclaim VAT on if you use the Flat Rate Scheme
A further requirement is that there is a fully digital journey from the records to the submission of the VAT return. The simplest way to achieve this is to keep your records in ‘Functional compatible software’, that is software that can not only keep your records but also can provide and receive information to HMRC directly.
If your records are not kept in such software, for example if you use a spreadsheet, then bridging software can be used to make the submission but there must be a digital link between the software. Similarly, if a set of programs are used, there must be a digital link between the pieces of software.
There are a number of options available for software solutions and a list of compatible software is provided on the HMRC website at https://www.gov.uk/guidance/find-software-thats-compatible-with-making-tax-digital-for-vat
However, if you have any questions or concerns regarding MTD for VAT or would like to talk over your business and the software options that might work for you then please do get in touch by emailing mtd@streetsweb.co.uk
See this column in the April edition of East Midlands Business Link Magazine.
Howes Percival’s corporate, commercial, and banking (CCB) team has seen a strong start to the year, completing 37 deals with a combined value of just over £299.5 million in Q1.
The large volume of completed deals at the start of 2022 is a result of ongoing high levels of M&A, financing and restructuring activity.
Since the beginning of the year, the team have advised on a substantial pipeline of transactions for owner-managed businesses, including:
Advising on the management buyout of Blue Alligator Company,
Advising Bright Star Financial Limited on a share buyback of Omni Equity Partners LLC’s shares,
Advising the shareholders of Cave and Sons Investments on a partial sale to Macintyre Hudson.
Andy Harris, partner, and head of Howes Percival’s CCB team, said: “We’ve had an incredibly strong start to 2022. We’re reaping the rewards of a concerted focus on recruitment into the team and increasing our capacity. We’ve been able to promote some really good people, alongside bringing in top lawyers, who have decided to develop their career with us.
“Our growing reputation has enabled us to attract talent from much larger law firms – specialists who are known experts in their field – and our clients have reacted very positively to their arrival. We’ve been able to add a further seven hires since the summer, building on the 50% growth we’ve had in the team since 2019.
“The sheer variety of the transactions has been very interesting – we’ve seen a lot of activity across all of our sector specialisms, with deals ranging in value from £50,000 to over £100 million, and the depth and balance we now have at all levels in the team means we can always provide a cost-effective solution, whatever the deal size.”
Recent high-profile recruits include senior partner and head of commercial, Paula Dumbill, from Browne Jacobson, and corporate and venture capital specialist, Tom Redman from Dentons.
Andy Harris continued: “The war in the Ukraine and spiralling energy costs are giving everyone pause for thought, and we will all have to see how things are the other side of the summer, and the effects on consumers who will have less spare cash. But at the moment our pipeline remains strong, and the after-effects of the pandemic are continuing to fuel activity.
“The increased reliance on technology over the past two years is here to stay as the demand for innovation and automation continues. Similarly, while supply challenges are impacting manufacturers at the various points in the automotive supply chain, a lot of our motor dealer clients had a very good 2021, with pent up demand for new cars. With our focus spread across different sectors we often see a tapering off in activity in some areas, offset by an increase in others. The healthcare sector is one that is proving resilient to most economic curveballs.”
Howes Percival has offices in Leicester and Northampton.
East Midlands Environmental Consultants (EMEC) has appointed Dr Edward Tripp as its new consultancy manager.
Ed, who lives in Long Eaton, is highly qualified and joins from Nottinghamshire Wildlife Trust (NWT).
In his new role, Ed will be leading a highly qualified, knowledgeable and enthusiastic team of land management consultants, ecologists and project managers. Established in 1991, EMEC provides services to developers, planners, architects, power and extraction industries, utility companies, local authorities, government agencies and private individuals.
Work ranges from major nationally impactful contracts and large-scale ecological assessments for housing and industry, through to management planning, habitat management, protected species surveys and habitat surveys of small-scale developments.
Ed has a background in ecology, and a passion for conservation. He has volunteered within the conservation sector since he was 18 and his first role began as a part time Education Officer in 2012. Latterly he was managing Nottinghamshire Wildlife Trust Trading Ltd, which generates income for the charity from revenues received through business relationships, catering and retail functions, events and engagement.
Ed’s qualifications include a BSc (Hons) Geography, PgC Geographical Information Systems, MSc Botanical Conservation and a PhD in Heathland Ecology.
Commenting on his new role, Ed said: “I am committed to helping nature to recover, tackling the ecological and climate crises. My business management and ecology background will help me to lead the teams at EMEC to generate profit to gift to NWT. I also hope to ensure EMEC aspires to achieve at least 10% biodiversity net gain through our work with clients. I’m really excited to have this opportunity to lead the team to many successes and achievements.”
In his spare time Ed loves hiking with his partner and two rescue dogs. He also enjoys playing hideously complicated board games, or relaxing with a good book. He is also passionate about classical music, and volunteers with Nottingham Royal Concert Hall, helping them to bring classical music to new audiences. He also has a particular interest in plants, lichens, bryophytes and fungi.
As a passionate nature lover, amongst other things, Ed has spent many years volunteering for various organisations and has sat for days in all weathers watching peregrine nests to protect them against persecution. He has monitored nightjars in Sherwood Forest to help them to recover from habitat loss. Helped children to learn about sustainable food production at National Trust houses, planted trees, built fences, cleared balsam and helped to manage heathland.
EMEC is one of 24 Wildlife Trust Consultancies that gift aid all of profits to a local Wildlife Trust to ensure positive conservation outcomes and support the recovery of nature across their counties.
Sentiment among financial services firms fell at the quickest pace since September 2019, according to the latest CBI/PwC Financial Services Survey.
Despite declining optimism, the survey of 81 financial services firms – conducted between 1 March and 22 March – found that business volumes had continued to grow in the three months to March, albeit at a slower pace than the previous quarter. Firms expect volumes to be flat in the quarter ahead.
The survey also saw a significant slowing in profitability growth on the previous quarter, with firms anticipating a modest decline in the next three months.
The outlook for investment in the year ahead continues to present a mixed picture. Firms expect to continue investing in IT but are looking to cut back capital expenditures on land & buildings and vehicles, plant & machinery.
Uncertainty over demand (37%), inadequate return on investment (32%) and labour shortages (16%) were cited by firms as the biggest constraints on investment. However, the share of firms citing labour shortages as a factor likely to limit future investment (16%) dropped significantly from last quarter (31%).
Building operational resilience emerged as a key theme throughout the survey, with 92% citing this as the key priority for future business strategy and transformation plans. Firms separately identified ‘responding to new cyber threats’ (81%) and ‘improving detection of cyber breaches’ (71%) as the main priorities to improve cyber resilience and reduce tech risk.
Elsewhere, headcount across the FS sector was broadly unchanged for the third quarter in a row. Expectations are for a significant uptick in employment next quarter.
Rain Newton-Smith, CBI chief economist, said: “While business volumes and profitability held up against the headwinds buffeting the economy, global inflationary pressures and increased geopolitical uncertainty stemming from war in Ukraine have started to take a toll on business confidence.
“With operational resilience becoming an ever more important priority for the sector, there is danger that a ‘wait and see’ approach may dampen growth prospects for the wider economy.
“A lack of preparedness for mainstream use of digital currencies and challenges in developing Net Zero plans suggest a need for swifter policy development in both areas to guide and stimulate industry-wide action.”
Isabelle Jenkins, head of Financial Services at PwC UK, said: “Financial services organisations are right to be careful and cautious as their resilience is once again put to the test.
“As the cost-of-living crisis mounts for households, it’s likely that we may see an increase in non-performing loans, another challenge financial services firms will have to respond to ensure consumers are supported through this difficult time.
“Despite some investment plans reined in for now, this is not the time to batten down the hatches completely, rather firms should continue to look at how they can best use the insight they are gathering to respond quickly and decisively in changing market conditions.”
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