< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Bird food manufacturer secures seven-figure funding package Lincolnshire-based Haith’s, a major supplier of bird seed and fishing baits, has secured a seven-figure funding package from Cambridge & Counties Bank to restructure its finances and further invest in the business. Initially established in 1937 by John ‘Ted’ Haith, Head Keeper at Grimsby Zoo, Haith’s has grown into one of the UK’s largest bird food manufacturers. The business has also extended its product range to supply specialist fishing baits to a UK, European and global client base. The funding from Cambridge & Counties Bank, secured on Haith’s manufacturing and office premises in Grimsby by the new management team, will help fund the firm’s digital transformation as well as the expansion of the business into new export markets. Haith’s new management team was introduced to the bank by business finance expert David Jockel from One Stop Business Finance Ltd. The bank was supported in the transaction by Kate Burlinson at law firm BHW and by James Coleman at valuers Eddisons. Haith’s has seen strong demand for its products across 2020 as customers, impacted by Covid-19 and the lockdown, have increased spending on ‘at-home’ goods. Turnover has remained buoyant, with the firm’s cage and aviary lines also benefitting from enhanced demand. Rachael Haith, Director at Haith’s, said: “We have seen strong customer demand during the last few years and are delighted to have secured the competitive refinance package which will allow the business to invest for growth. The lockdown has seen many people rekindle their love for the natural world. “The funding and support from Cambridge & Counties Bank is central to our aspirations as we build on this momentum and take the business forward with a stronger digital, internationalised offering, suitable for cross-border ecommerce.” Carl Ashley, Regional Director, North & Scotland at Cambridge & Counties Bank, said: “Haith’s is a very established and trusted name in the market it operates, with strong customer loyalty and increasing demand for its products from new customers.” Auto services firm on road to growth following MBO A Chipping Warden-based vehicle transportation specialist is eyeing up acquisitions following a change in ownership. Ontime Automotive, which provides transport, storage and vehicle repatriation services to the high- end car market, has secured funding from NatWest to complete a management buyout (MBO). Managing Director and now majority shareholder Justin Brinklow led the MBO, having worked at the family company, which was founded by his grandfather in 1945, since 1991. Over the next two years, Justin aims to grow the business organically, as well as investigating potential acquisition opportunities that would enable the business to expand its services domestically and across Europe. The vehicle transportation specialist currently employs 110 members of staff across seven sites in the UK and one in Calais. Its client list includes some of the world’s largest prestige car manufacturers. Justin Brinklow said: “Ontime Automotive is a family business and it’s important to me that I continue to expand the company to the best that it can be. We had great support from NatWest through the entire buyout, making it a really smooth transition and enabling us to now focus on the next growth milestone. “Our long-term vision for the business is growth through acquisition, but I’m very keen to expand the firm organically first. We hope that through any acquisitions, we can grow our presence in Europe too.” Scott Curley, Invoice Finance and Asset Based Lending Director at RBS Invoice Finance; Nicholas Wood, Relationship Director at NatWest; and Divyesh Patel, Relationship Director at Lombard, supported the MBO. Scott added: “Justin has big growth ambitions for Ontime Automotive, and it’s great that we’ve been able to support him on this part of his journey. We look forward to seeing what’s next for the company under his management.” Chesterfield packaging firm snaps up Danish container manufacturer Robinson plc, the Chesterfield-based custom manufacturer of plastic and paperboard packaging, has acquired Schela Plast A/S, a Danish designer and manufacturer of blow moulded containers, in a £7.7m deal. Based close to Billund in Denmark, Schela Plast was founded in 1971 by the Toft family and employs approximately 40 staff. Morten Jeppesen, the current Managing Director, will continue to lead the company within the Robinson Group. For the year ended 31 December 2020, Schela Plast achieved revenues (unaudited) of £9.1m, and EBITDA (unaudited) of £1.6m. Statutory profit before tax (unaudited) for the year is expected to be £0.9m. Robinson intends to invest approximately £2.4m for new plant and equipment in Denmark in 2021 to facilitate Schela Plast’s future growth. Alan Raleigh, Chairman of Robinson, said: “The Acquisition supports our sustainable growth strategy. Schela Plast is a strong complementary fit to our existing products and services, customers and manufacturing locations. “Their location and capabilities, together with our planned investment in additional equipment, generates areas for growth with key customers in the market sectors we and Schela Plast serve. We are delighted to welcome Morten Jeppesen and his team to the Robinson Group. “Robinson remains committed to ongoing delivery of mid to high single digit organic sales growth and a 6-8% return on sales, supplemented by where appropriate further selective acquisitions of complementary businesses in Europe.” © Shutterstock /xpixel 06-15.qxp_Layout 1 05/03/2021 15:46 Page 5Stockholm company acquires Lincs electric charging equipment manufacturer Stockholm-based Sdiptech AB has acquired Rolec Services Ltd and One Stop Europe Ltd (Rolec), a specialist in the design and manufacture of electric vehicle (EV) charging points and outdoor electrical charging equipment and systems. Established in 1990, Lincolnshire-based Rolec has a turnover of approximately £23 million and a pre-tax operating income of approximately £7 million. Rolec has over three decades of experience of design, manufacture and installation of outdoor electrical chargers. Today, approximately 75 percent of Rolec’s sales come from the EV segment. Jakob Holm, CEO of Sdiptech, said: “We are excited to welcome Rolec to the group. It is a successful business with a long experience within the industry, a market-leading product range and an outstanding service offering. “Due to its strong heritage of tailor-made turn-key systems for charging of marinas and caravans, Rolec has for the past ten years been able to gain a strong market position in UK within the growing EV segment, with over 200,000 chargepoints installed. “The fact that they can combine their own electric vehicle charging range with either their own back-office charge-point management platform or a third parties management platform provides numerous exciting opportunities.” Fredrik Navjord, Business Area Manager for Water & Energy at Sdiptech, said: “Rolec stands out as one of the first movers in the UK with a comprehensive product range, large technical sales force and a substantial base of trained third-party installers. “To name a few, their vast product range includes an industry leading range of both AC Fast and DC Rapid EV chargers, caravan hook-up units, marina service pedestals and distribution equipment. “With Sdiptech’s experience in sustainable energy solutions, we look forward to working together with the talented team at Rolec to develop the business further.” Rolec is Sdiptech’s eighth UK business unit and will be included in the business area Water & Energy. “We are delighted to be part of the Sdiptech Group of UK based companies and feel Sdiptech as a long-term owner offers us the additional resources and expertise required to further develop our product range and services and take Rolec to the next level,” said Kieron Alsop, Managing Director at Rolec. FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 MBO completes at Nottingham recruitment firm Nottingham-headquartered recruitment firm, Blusource has been purchased in a management buyout (MBO) by three of its directors. Greg Emmerson, Bjorn Jones, and Dan Rogers have bought the business, which was set up in 2008, from founder Andrew Springhall. Blusource specialises in accountancy and finance, HR and professional office recruitment. The team is now planning to embark on a recruitment drive, potentially creating four positions in the next few months. Commenting on the MBO and plans for the future of Blusource, Greg Emmerson said: “The pandemic allowed us to reflect and communicate as a management group on what our clients and staff will need from us going forward, and we were keen to take full control in order to make the changes and investments required. “Our immediate plans are focused on hiring new people into each team during Spring 2021, adding resources in an increasingly busy market and allowing us to support our clients at all levels, as they seek the best quality staff during the recovery.” Greg added: “We enjoy deep relationships with our customers, forged in many cases for over 20 years, so want to ensure we have the right team in place to assist job seekers and employers in accountancy, finance and HR. Our current office in central Nottingham will allow for that growth and blended home and office working has allowed us to remain very responsive to our customers and will continue to do so.” Advisors supporting the MBO included Actons Solicitors, Massers Solicitors, and Smith Cooper Accountants and Tax advisors. © Shutterstock /Zapp2Photo © Shutterstock /Maksym Kapliuk © Shutterstock /Andrey_Popov 06-15.qxp_Layout 1 05/03/2021 15:46 Page 6Further fall for manufacturing output Manufacturing output fell slightly in the quarter to February, but at a more modest rate than in the first lockdown last Spring, according to the latest CBI Industrial Trends Survey. The survey of 296 manufacturers also found that output increased in 11 of the 17 sub-sectors. However, growth in these sub-sectors was outweighed by sharp falls in others – particularly motor vehicles & transport equipment and food, drink & tobacco. Looking ahead, manufacturers anticipate output to be broadly flat over the next three months, marking a notable improvement on expectations of a significant decline in January. Total orders books improved, to a similar position as in December 2020, while export order books worsened on January. Both continue to be far weaker than their respective long-run averages. Manufacturers also reported that stock adequacy weakened slightly from January and expect output prices to be broadly steady in the next quarter. Alpesh Paleja, CBI Lead Economist, said: “Manufacturing activity remains patchy, but so far appears to have taken a smaller hit than in previous lockdowns. However, a stubbornly mixed picture persists among the different manufacturing sub-sectors, pointing to the asymmetric impact of restrictions.” Tom Crotty, Group Director at INEOS and Chair of the CBI Manufacturing Council, said: “The start of 2021 has been tough for manufacturers as firms acclimatise to life outside the EU and grapple with the challenges of lockdown. “As we look ahead to the future, there is an incredibly exciting opportunity for the government to work with firms to help shape a manufacturing sector that is capable of driving the UK’s post-COVID economic recovery. “In the meantime, however, it’s important that the sector continues to have access to the support it needs to get through the next few difficult months.” 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS New engineering centre of excellence set for technology park MIRA Technology Park, one of the Leicester and Leicestershire Enterprise Partnership’s (LLEP) two Enterprise Zones, has announced a new partnership that will see an engineering centre of excellence located at the site. The partnership, with REE Automotive (REE), paves the way for the establishment of the state-of-the-art centre, which will help accelerate its REEcorner and electric vehicle (EV) technology. The new REE engineering centre will accelerate engineering design, validation, verification and testing of REE’s products, as well as product homologation (the process by which vehicles are approved by statutory bodies). The company plans a $92m investment in the site over the next three years, creating 200 high-skilled jobs in the region. Situated on the Leicestershire-Warwickshire border, equal distance from the M1 and M42 motorways, and a stone’s throw from the growing town of Hinckley, MIRA Technology Park is ideally located for the investment. As Europe’s largest automotive technology park, the site enables businesses engaged in research and development within the transport sector to establish a technical presence in the UK. Its designation as an Enterprise Zone confers extra benefits including simplified planning regulations and business rates relief. One of the key aspects of the partnership which attracted REE is access to MIRA’s world-class testing and proving grounds. Facilities include over 100km of proving ground test track and 38 major laboratories, including impact simulation; noise and vibration; vehicle and component environmental facilities; and a full-scale aerodynamic wind tunnel and Advanced Emissions Test Centre. MIRA Technology Park is also home to MIRA Technology Institute, a further and higher education facility dedicated to equipping people with the latest skills needed to advance the automotive industry. The product of a £9.5m LLEP Local Growth Fund investment, it is already producing a steady stream of highly skilled automotive engineers. £500k support boost for Derbyshire and Nottinghamshire manufacturers Small to medium-sized manufacturers in Derbyshire and Nottinghamshire have received a £500,000 support boost to help them overcome challenges and make the most of new opportunities. The Manufacturing Growth Programme (MGP) has agreed a deal with D2N2 Local Enterprise Partnership to provide specialist assistance to firms in the two counties. Management teams can now access a dedicated Manufacturing Growth Manager, who will use the GROWTHMapper benchmarking tool to identify pain points within the business, before delivering grants that can help support a third of the total cost of the improvement project up to a maximum of £10,000. This new support covers manufacturing efficiencies, strategic marketing, new product development and leadership and management, with the programme due to help more than 85 business between now and June 2023. It is anticipated that this manufacturing driven assistance will create 111 new jobs and 28 new product launches. Martin Coats, Managing Director of the Manufacturing Growth Programme, said: “This is excellent news for SME manufacturers in Derbyshire and Nottinghamshire and comes at a time when they need access to industry specialists to overcome issues around Brexit and Covid-19. “We have proven how successful this type of support, delivered by experts from the manufacturing sector, can be in Leicestershire, Lincolnshire and Northamptonshire. Across these three areas we have created nearly 700 new jobs and completed 805 improvement projects, helping many firms fulfil their potential.” He continued: “Thanks to the backing of the D2N2 LEP, we can now give this targeted assistance to companies locally, making sure they are competitive in the sectors they have an undeniable edge in, including aerospace, automotive, food and drink, medical and rail.” Martin Coats © Shutterstock /Jenson 06-15.qxp_Layout 1 05/03/2021 15:46 Page 7Engineering firm secures funding to support new contract wins A Lincolnshire-based engineering business is celebrating having secured contracts with both UK and International clients. Tong Engineering Ltd has agreed new funding to develop its premises which will support the delivery of these new contracts. Tong Engineering, which was established in 1930, is a fourth generation family business which specialises in the manufacture of vegetable handling and grading machines. Tong’s beginnings were of a more modest scale when it began trading as an ironmonger in Spilsby, Lincolnshire. Over the past 90 years, the business has continued to evolve with other members of the Tong family joining the company. Today the company exports equipment to more than 50 countries worldwide. Commenting on the contract wins, Managing Director Edward Tong said: “We are delighted to have secured these contracts. As a supplier to the food industry, we have continued to perform well as a business throughout the pandemic despite the challenges. These latest contract wins will result in the company exceeding their budgets for this financial year.” Funding was provided by Barclays. Relationship Director Alastair West said: “We are pleased to be supporting Tong Engineering with the finance they require to fulfil these contracts and to welcome them to Barclays. The company has an interesting history which has continued to evolve over the years, responding to changing market needs.” Keith Ross, Head of Mid Corporate for Barclays in the Midlands, said: “We are absolutely delighted that Tong Engineering have chosen Barclays as their financial partner. While the business is steeped in history, it is also very progressive and we are delighted to be able to support them with their future growth aspirations.” The business employs around 170 staff and has an annual turnover exceeding £18 million. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 MANUFACTURING NEWS Targeted tax incentives called for to boost Midlands manufacturing Two thirds of manufacturers (65%) would commit to greater investment in the regions if incentives for capital expenditure were increased, a new survey from accountancy and business advisory firm BDO has found. The poll of over 200 UK manufacturers also found an overwhelming majority (61%) who said that a simplification and extension of Research and Development tax reliefs would help drive further investment in innovation. The manufacturing sector is vital to the Midlands economy, accounting for 16% of total output in both the East and West Midlands and more than 500,000 jobs. Yet the latest data from Make UK, the manufacturers’ organisation, shows that investment intentions have suffered badly as a result of the pandemic. This has fallen, in particular, in the West Midlands in the final quarter of 2020, where manufacturers have prioritised low-risk short- term hirings over high-risk investing. A drop in investment risks regional manufacturing firms falling behind international competitors without the right incentives to stimulate investment in R&D, green technology, digital transformation, training and jobs. BDO’s key proposals include: • Introducing new tax credits for manufacturers that invest in reducing carbon emissions – one of a number of measures designed to help drive the green economy agenda. • Extending the current Annual Investment Allowance limit at £1m until the end of the current Parliament in 2024. This would give manufacturers the opportunity to commit to significant capital investment for the medium to long term. • Increasing the number of Enterprise Zones to help encourage manufacturing clusters and support the Government’s levelling up agenda. • Simplifying and extending the current rules on employee ownership to drive additional entrepreneurial investment in UK manufacturing. • Introducing new tax incentives that align education or training with specific skills such as robotics and automation that are required by advanced manufacturers. • Establishing a new Government-backed manufacturing trade network and exporting academy to help UK manufacturers break into new international markets and access expert advice on overseas regulation, intellectual property and tax compliance issues. Jon Gilpin, BDO’s Head of Manufacturing in the Midlands, said: “Manufacturing in the Midlands has, like many regions, been severely impacted by the coronavirus pandemic, with high levels of variance both in terms of output and orders, with the East Midlands experiencing the sharpest fall in output of any UK region.” Jon Gilpin 06-15.qxp_Layout 1 05/03/2021 15:46 Page 8PROPERTY NEWS Completely Motoring Group lets Hinckley unit for new HQ Tungsten Properties, the mid-box industrial and warehouse developers, has let Unit 14 at Lime Kilns Business Park in Hinckley, Leicestershire to Completely Motoring Group, for its new head office and motorcycle distribution centre. Unit 14 totals 37,650 sq ft and is part of a two-unit new development which Tungsten Properties has built. Completely Motoring Group is a Gloucestershire-based company which specialises in premium used motor vehicles and motorcycles. The building is to be comprehensively fitted out and more than 20 new group staff will be employed once government lockdown restrictions have been lifted. Robert Ayland, Group Managing Director, Completely Motoring, said: “This is a significant expansion for the group and with plans to hold over 1,000 premium used superbikes in stock it will cement our logistical capability across UK. “Recent times have shown that consumers demand efficient delivery of the specialist motorbikes that we stock. Expanding into this central location will allow us to exceed our customers’ expectations while reducing customer lead times and increasing capacity.” Jenny Clarke, development surveyor, Tungsten Properties, said: “As a growing company, it’s great that Completely Motoring has their new space to match their impressive expansion plans. “Hinckley continues to be an attractive location to such businesses due to being well-connected to the road network and in a strong employment area. Our second unit, Unit 13, which totals 27,030 sq ft, has seen good interest from other occupiers looking for brand new space.” Construction begins on additional employment space at Lincolnshire business park Lincoln-based property developer, Stirlin, has commenced construction on two new phases of its business park, Stirlin Place. Stirlin Place is a one-acre commercial development, situated on the Foxby Lane Business Park in Gainsborough. After seeing its potential, Stirlin secured the plot of land from Lincolnshire County Council in 2019 and received planning consent for the build from West Lindsey District Council shortly after. The two new phases on the development will comprise 8 additional industrial units, with sizes ranging from 960 sq ft– 1,362 sq ft. The units will all be built to a high specification, to include an electric sectional door, personnel door, DDA compliant toilet facilities and allocated parking. James Kirby, Owner of Stirlin, says: “We’re delighted to have started construction on two new phases at Stirlin Place. Following the success of phase 1 and 2 of the development, we have seen a strong demand for new commercial property within the area. “Lincolnshire County Council studies have previously shown that there is a shortage of modern business premises in both the south and the north of the county. Therefore, it’s great to be able to provide further employment space to support the economic growth of the local business base.” Tim Downing, Vice Chair of Invest Gainsborough and Director of Pygott and Crone, says: “Stirlin Group’s continued investment into Gainsborough with their high-quality business units, is testament to their confidence in the town.” 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Green light for new Leicester city centre homes Specialist urban planning consultancy, Hybrid Planning & Development has secured permission for a new, six storey residential development in the heart of Leicester city centre. Working on behalf of a private developer and alongside Leicester-based architects, InkDrawn, Hybrid’s successful application will see the construction of 21 one and two bedroom apartments and associated amenities on a derelict, brownfield site on the corner of Jarvis Street and All Saints Road in the city centre. “Following a series of proactive negotiations with the local authority, including an effective pre-application process, we’ve been able to bring forward viable plans for a characterful new development that will complement the heritage of the area,” said Claire Day, director and co-founder, Hybrid Planning & Development. “The approved development at Jarvis Street will bring a vacant site back into productive use, providing high quality homes for Leicester’s young professionals, postgraduates and new families. It will also restore the overall street pattern, which includes the locally listed and recently restored Great Central Railway Station as well as the former Generator House, thought to have been built to power the railway station.” In addition to the 21 apartments, the new development will include a ground floor lobby, communal lounge, extensive cycle storage, refuse storage and visitor car parking. All apartments will be wheelchair accessible and in the framework of Building for Life standards. A fabric first approach will be adopted in construction, and for further energy efficiencies, photovoltaic panels will be installed to the flat roof. Design for the new development was developed by InkDrawn. Director, Daniel Nestoruk explains the design principles: “Jarvis Street in its current guise really detracts from its historic neighbourhood, so we were keen for our design to reverse this as well as celebrate the railway heritage.” 06-15.qxp_Layout 1 05/03/2021 15:47 Page 9PROPERTY NEWS Work starts to redevelop Ilkeston’s Toll Bar House Work has begun on Ilkeston’s iconic 1930s crescent-shaped Toll Bar building. The project will bring new opportunities for small businesses in Erewash. Toll Bar House is one of Ilkeston’s most distinctive buildings and sits alongside White Lion Square roundabout at the gateway to the town centre. Now owned by Erewash Borough Council, it was originally built for Nottingham Electric Power Company. Erewash Borough Council and its partners have started work to upgrade, redevelop and revitalise the building as part of a £850,000 environmental project to transform it into an energy and water efficient building to help combat climate change. The refurbishment will enable the art deco landmark to provide accommodation for small and growing companies. The project will include creating 22 offices, shared meeting rooms, kitchen and bathroom facilities, with the flexibility to combine spaces to create larger letting units, and the development of old garages to form workshop space. D2N2 has allocated £425,000 from its Local Growth Fund allocation towards the refurbishment. Councillor Michael Powell, Erewash Borough Council’s Lead Member for Regeneration and Planning, says: “In these challenging times that we still face, this is such good news and we thank all our partners for getting this vital project underway. “Toll Bar House is such a landmark building and it is a credit to all involved that work has started in these difficult times to transform it and offer high quality office space and allow the opportunity to attract new businesses to our borough.” Chesterfield hot tub distributor makes a splash with new premises A Chesterfield hot tub distributor has purchased a new warehouse and office facility after achieving consistent year-on-year growth since its inception in 2011. Superior Wellness is moving to a 130,000 sq ft site in Brookbank Park, Sheepbridge, which is ten times larger than its current premises on Station Road, after securing £1.6m in funding from NatWest. The business, which turns over £50 million annually, had outgrown its existing site and was renting additional warehouse space nearby to store its products. The new facility will allow Superior Wellness to have its entire business under one roof, improving operational efficiency across the organisation. The firm, which sells to retailers such as Costco and Wayfair also exports around 20% of sales to customers in Europe, America and Canada. It has reported strong orders since 2019 and has doubled its workforce over the last 12 months to 60 members of staff as a result. Rob Carlin, Managing Director of Superior Wellness, said: “We’ve invested a lot in the business over the last few years and that’s reflected in the strong sales we’ve achieved. The new facility gives us the added space we need to operate more efficiently as we grow to hopefully become the world’s largest hot tub distributor. “We’re also confident the new site, which has dedicated break-out areas featuring table tennis and pool tables, will be a great place for our employees to work. As we approach the summer, we’re excited to drive forward our expansion plans and grow our customer base further.” Duo of Derby regeneration projects to receive share of £15m Two major city centre regeneration projects are set to receive a share of £15m towards their delivery. At a Cabinet meeting, Derby City Council approved plans to earmark the Future High Streets Funding for the Market Hall and Eastern Gateway. Derby was awarded £15m by the Government last December, following its successful Future High Streets Fund bid. The Grant is designed to help renew and reshape town centres and high streets across the country with the aims of driving growth, ensuring future sustainability and improving general visitor experience. In Derby, the funding will be invested in transforming the Market Hall into an attractive, flexible retail and leisure destination fit for the 2020s and beyond, and to create a new gateway to the city centre. The Eastern Gateway will transform the entrance to the Eagle Market, creating a welcoming arrival from the bus station. Public realm improvements will be undertaken with remaining funds. Councillor Matthew Holmes, Deputy Leader of Derby City Council and Cabinet Member for Regeneration, Planning and Transportation, said: “Our city centre has faced some tough challenges and these essential interventions will create a better connected, more diverse offer that will rejuvenate our high streets so they can thrive and flourish. “Successful city centres are the ones able to combine great retail and leisure offerings with residential and business use. All of this will help bring prosperity to Derby and build on our strong COVID recovery plans.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 Councillor Carol Hart, Leader of Erewash Borough Council, is pictured front alongside Councillor Michael Powell, Lead Member for Regeneration and Planning, and Councillor Dan Pitt, Lead Member for Town Centres, with council officers and representatives from J Tomlinson contractors. 06-15.qxp_Layout 1 05/03/2021 15:47 Page 1016 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Northamptonshire - a haven for the industrial & logistics sector Trebor and Hillwood's Crow Lane development DIRFT 16-19.qxp_Layout 1 05/03/2021 15:49 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY An important county for the UK’s logistics and industrial property stock, Northamptonshire is home to a number of new developments and continues to attract big names. 18 Á As part of the golden triangle, the largest concentration of major logistics and distribution operations in Europe, Northamptonshire is a key county for industrial and logistics property. Indeed in 2020 the county welcomed the Midlands’ biggest pre-let transaction of the year. This saw Royal Mail commit to 840,000 sq ft at Prologis’ Daventry International Rail Freight Interchange (DIRFT). It was announced that work on the new Royal Mail parcel hub was underway in February (2021), with a 2023 launch expected. Once complete, the hub will be the size of more than ten football pitches and have the capacity to process over one million mail items per day, making it the largest Royal Mail parcel hub in the UK. 2021 has also seen construction begin on other logistics schemes, including work at SEGRO Logistics Park Northampton Gateway. Once developed, the 450-acre site will become a multi-modal logistics hub with five million square feet of modern, sustainable warehousing and logistics facilities, featuring a dedicated 35-acre Strategic Rail Freight Interchange that will have the capacity for up to 16 trains a day. SEGRO is investing £190 million into infrastructure works, including new rail connections and improvements to the strategic road network, incorporating major upgrades to Junctions 15 and 15a on the M1, a new bridge over the West Coast Mainline, and building a bypass around Roade, and safer junctions along the A508. The scheme will also create around 7,500 direct jobs, with approximately 120 created during the infrastructure construction phase. The first plots are expected to be available for buildings in late 2021, with the completion of the infrastructure works anticipated by the end of 2023. In addition GLP, an investor and developer of logistics warehouses and distribution parks, is starting construction on a 133,000 sq ft unit at G-Park Northampton, within the Moulton Park Estate. A plethora of other new developments are also being planned for Northamptonshire. For example, Trebor and partner, Lifting the lockdown pressure Despite the doom and gloom in the world today, hope is always the eternal spring. The feelgood factor in the market is returning with the roadmap out of lockdown and the results further assistance from the government, will go a little way to help the smaller retail and entertainment led businesses. The roadmap has also allowed public houses to plan ahead for the next few months and finally book local entertainment, which is good news for the self-employed musicians out there. Property wise the industry is in vibrant form, we have been involved in a number of lettings that have completed and a sale of substantial asset in Derbyshire, that completed prior to Christmas. We have two further commercial property sales under offer and 3 further lettings in solicitors hands at the time of writing. Landlords will be benefitting from this renewed confidence in the market and it is certainly a good time for a tenant to either relocate offices or renegotiate an existing deal that is due to expire. If you are in that position, it is important to take advice from local agents that have a good knowledge of the market at the present time, or appoint an agent to act on your behalf. Whilst there is a cost borne for the advice, that cost will far outweigh the benefit over the short to medium term. We have found there are some very good solicitors out there that offer similar assistance for their clients and it usually offers a greater benefit when entering into a new legal rental agreement. In our next feature, we will be talking about developments and in particular, permitted developments in converting commercial offices into residential flats. After the recent planning changes, there has been a small increase on the uptake of office conversions. We are acting for two clients in Ilkeston in relation to a development that is being undertaken at present, with the freehold now under offer and another client whom, instructed us to review three properties they own. Our advice will lead to a £500,000 increase on the value of their asset, with a development cost in the region of £150,000. If you feel that any of this advice could benefit you, please do not hesitate to contact daniel@cpa-a.co.uk. Daniel Hawkins 16-19.qxp_Layout 1 05/03/2021 15:49 Page 218 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Hillwood, recently entered into a contract to acquire an 8-acre site at Crow Lane, Northampton, planning to speculatively develop two industrial units of 90,014 sq ft and 57,834 sq ft. Site preparation works have begun, and a planning application is to be submitted shortly. Subject to consent the development will start on site in 2021, for delivery of units in early 2022. Furthermore, a new business park has been designed to support the growing high-performance engineering and motorsport sector in Northamptonshire. Commercial developer Clowes Developments is looking to develop a new 345,300 sq ft industrial scheme – Podium Business Park – which could offer a highly visible anchor for the sector. Due to Northamptonshire’s long history in the high-performance engineering sector, being home of course to Silverstone, there is growing pressure in the county for more premises and quality land to retain and attract businesses. Podium Business Park is being proposed to ease constrained supply by delivering industrial/warehouse units from 8,000 sq ft up to a detached facility of 75,000 sq ft, located directly adjacent to the A43 near Silverstone Motor Circuit. Remaining at Silverstone, at the end of 2020, MEPC completed 13 HQ-style industrial units at the Silverstone Park business estate - ranging in size from 6,000 sq ft to 30,000 sq ft. Confirmed occupiers include Delta Motorsport, KW Special Projects, PWR, the advanced cooling technologies giant, and EIGHTY- ONE, the drinks and lifestyle brand from Switzerland. The units are part of MEPC’s Phase 1 and Phase 2 of development at Silverstone Park. MEPC has also gained reserved matters consent for a third phase of development, allowing for the largest buildings yet constructed by MEPC at the estate, at up to 100,000 sq ft in size. The close of 2020 also saw Northamptonshire continue to attract businesses to its logistics and industrial Podium Business Park 16-19.qxp_Layout 1 05/03/2021 15:49 Page 3WEBEYECOMMERCIAL PROPERTY Importance of security in a crisis Webeye, a Mansfield-based security specialist, explores the importance of robust, reliable security during the continuing coronavirus crisis and what measures businesses need to take. Construction sites, empty properties and remote locations remain under threat. You need to be confident your assets are safe and, if intruders do break-in, you need to know ASAP. Security becomes even more critical in times like these, and technology can play its part in keeping everyone involved safe. Governments are encouraging staff to carry on working from home, but how can you check your business premises are protected, and your security provision is working correctly or at all? Effective alarm delivery is crucial to maintain a credible security programme. If you’re monitoring sites, you need to make sure you can receive alarm notifications directly to your home computer, tablet or mobile device. But by their nature, home devices are not as robust as professional security systems. Webeye has developed a cloud technology that is a robust platform and app that have thought through the pitfalls and have put checks and balances in place to make sure you receive credible alarm notifications. You also have to think about guarding and security staff. If you have no physical security staff on-site, you’ll need effective systems to be your eye-and-ears on the ground. Advances in wireless and battery technology mean there are systems on the market such as the Videofied Visual Verification system or Webeye’s webeyeOCULi that send video clips directly to you which effectively monitor sites where there is no mains power. They trigger upon intrusion and send video clips directly to your home device via the webeyeCMS cloud receiving platform that can act as your automated central monitoring station. To find out more, visit www.webeyecms.com, email sales@webeyecms.com, or call 01157 149990. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 property stock. Logistics giant Pall-Ex for instance opened a new 210,000 sq ft facility at Watling Park, and delivery management company Whistl took 300,000 sq ft at Belkin House, Express Business Park, expanding its existing Rushden fulfilment capability, and opened its fifth fulfilment centre, located in Unit 3 Northampton G-Park, in Moulton Park Industrial Estate. Whistl said that the latter 155,000 sq ft unit was chosen because of its Golden Triangle location. Moreover Fisher & Paykel, a designer and manufacturer of home appliances, let a 59,000 sq ft warehouse asset at Swan Valley Industrial Estate, Northampton, and Brian James Trailers let 1&2 Stephenson Close, a high eaves warehouse facility comprising 50,000 sq ft, located on the Drayton Fields Industrial Estate in Daventry, expanding on its three existing units in the town. 16-19.qxp_Layout 1 05/03/2021 15:49 Page 4Next >