< Previous East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS DCJ Group swoops for fellow Chesterfield business DCJ Group, which is part of Global Risk Partners, has acquired SM Commercial Insurance Brokers Ltd (SM Commercial). SM Commercial was founded in 2006 and, like DCJ, is based in Chesterfield, Derbyshire. The deal is the third acquisition for DCJ since it became part of GRP in 2018. Steve Higgins, founder and Managing Director, will remain with the business under new ownership along with all the employees. Chris Breeze, Chief Executive of DCJ, said: “SM Commercial is a highly respected community broker with a reputation for high quality client servicing. I’m looking forward to working alongside Steve and his team to help them take the business to the next stage of its development.” Steve Higgins said: “Everyone at SM Commercial is excited by the prospect of being part of a bigger family and I’m excited by the opportunity to make a step change in the scale of our ambitions for the future. As part of DCJ, with the extra leverage provided by being part of GRP, we will be in a great position to support our clients as the economy emerges from the pandemic.” Oxenwood secures £65 million development loan from Blackstone Oxenwood Real Estate, the UK and European real estate investment management firm, has secured a £63 million debt facility from Blackstone Real Estate Debt Strategies to fund two UK logistics developments. The three-year development loan has been secured on behalf of Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood. The largest of the two developments is the 426,000 sq ft Power Park in Nottingham, which Oxenwood has agreed to forward fund for £53.8 million. Power Park is located on part of the former Imperial Tobacco plant and involves the development of six logistics units ranging from 30,000 sq ft to 145,000 sq ft. The development, which is being delivered by HBD, is expected to complete in early 2023. The second development is a last-mile logistics facility on a 2.2-acre site on the A13 in Barking, east London. Oxenwood has entered into a development management agreement with Graftongate to obtain planning consent and construct a 60,000 sq ft unit, which is expected to be completed in the second quarter of 2023. Pressure pushes a third of banking professionals to consider quitting, says report A third of financial services and banking professionals are planning to leave the industry due to high pressure, according to a new report by LemonEdge, a global digital accountancy platform for the private capital and venture capital industry. With burnout mounting, a further third are also planning to leave their current role as a result of high pressure, but continue to stay within the same industry. The upcoming exodus from the industry is said to risk valuable talent leaving the sector in record numbers, and stems from increasing levels of burnout, which has worsened for many since the pandemic and working from home, or hybrid model set up. When uncovering why workers are planning to leave their positions in record numbers, the study by LemonEdge found that financial services and banking professionals state a heavy workload (42%) is the main contributor to feeling heightened pressure within their role. This is closely followed by manual processes (36%), long working hours (32%), tight deadlines (26%), and increasing demands from management (25%). © stock.adobe.com/ Freedomz 06-15.qxp_Layout 1 07/06/2022 09:23 Page 5Leicester independent financial advice firm acquires clients of Mountsorrel business Westerby Investment Management has completed an acquisition of the clients of the independent financial advice company, Blythin & Brown Financial Solutions Ltd (BBFS). BBFS is the financial services arm of Mountsorrel-based general business insurance broker Blythin & Brown Insurance Brokers Ltd. The completion of the acquisition means Leicester-based independent financial advice company Westerby Investment Management Ltd will experience a significant increase in its funds under management. As the deal was confirmed, Westerby Group Managing Director Steve Harvey said: “We are delighted to announce this client acquisition which will provide continuity to Blythin & Brown Insurance Brokers Ltd.’s proposition. “Having provided a financial advice solution to its customers for over 50 years, the Blythin & Brown ethos and synergy aligns perfectly with Westerby. We are looking forward to this exciting new chapter with Blythin & Brown Insurance Brokers Ltd.” Westerby Group chairman Les McLintic added: “Traditionally, Westerby has grown organically. This latest acquisition will not only boost that growth strategy, but it will also contribute to our long-term future in the industry for clients old and new.” Blythin & Brown Insurance Brokers Ltd.’s owners Jonathan Blythin & Richard Picton said: “With the intended retirement of Richard Blythin, we were looking for a safe pair of hands to expand our financial advice proposition via a strategic partnership. Choosing Westerby was easy because the synergy of independence, culture and service levels align. “Also, having a long-standing relationship with Westerby cemented the decision. The Blythin & Brown team are looking forward to working closely with Westerby in our various professional propositions in the future to ensure continuity of service for our new and existing commercial and private insurance clients.” FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link £950 million fund launched to support SMEs across East Midlands HSBC UK has launched a £15bn lending fund for small and medium sized businesses with £950m ring-fenced to support local economies, employment opportunities and drive growth across the East Midlands. Whilst concerns about the broader market remain, HSBC’s customers are thinking about growth via investment, acquisitions and capital expenditure. Businesses have told HSBC that they are ready to invest for growth and are confident about the prospects for their own businesses. The Fund is a key part of HSBC’s commitment to help British businesses to innovate, thrive and grow in the UK and internationally. SMEs are vital to the UK economy and account for three fifths of the employment and around half of turnover in the UK private sector according to the FSB. The Fund, which includes specific regional and locally focussed allocations, will seek to ensure that companies throughout the country can benefit. This year’s fund also includes ring-fenced funding for businesses trading internationally (£2 billion), in the agriculture sector (£1.2 billion), the tech sector (£500m) and franchise businesses (£500m). © stock.adobe.com/ deagreez 06-15.qxp_Layout 1 07/06/2022 09:23 Page 6Derby City Council’s iHub set to house Rolls-Royce Submarines’ Nuclear Skills Academy Rolls-Royce Submarines recently announced plans to open a new academy dedicated to nuclear training within Derby. The academy forms part of Rolls-Royce Submarines’ plans to boost nuclear capability in the UK and create a pipeline for nurturing talent. In partnership with the University of Derby, the site will create 200 new apprenticeships every year for at least the next 10 years. The academy is set to open in September 2022. It has been revealed that the Council’s iHub – managed by Connect Derby – will become the home of the new academy, taking centre-stage at the manufacturing-focused innovation and technology site, Infinity Park. Councillor Chris Poulter, leader of Derby City Council, said: “The creation of this Skills Academy is a really exciting opportunity for Derby. We have already firmly cemented our name as world leaders in innovation and technology, and with the Nuclear Advanced Manufacturing Research Centre (NAMRC) and University of Sheffield, the National College for Nuclear, and the University of Derby all supporting this project, we’re poised for success once more.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS Space Park Leicester invites businesses to free manufacturing and technology workshops Leicestershire SMEs are invited to expand their knowledge on additive manufacturing techniques and 3D printing in a series of free workshops taking place at Space Park Leicester. Delivered by top academics from the University of Leicester’s STAR Accelerator programme, the best practice workshops are open to SMEs that are interested in finding out how to deliver new and innovative products, components and tooling to help “build a better world for tomorrow.” Businesses interested in attending can sign-up to one of seven two-day workshops, with the first one taking place on July 6 and 7. Vinay Patel, head of Space Technology Applications from Research (STAR) Accelerator & commercial manager, Space Park Leicester said: “On this course, you’ll gain an advanced introduction to additive manufacturing techniques and hands-on experience of 3D printing, with opportunities to explore materials and see how the equipment works. “The course is aimed at Leicestershire-based SMEs from all sectors that may need help refining their product and planning development & manufacturing stages.” He added: “The course aims to help businesses deliver new and innovative products, components and tooling across all sectors to help build a better world for tomorrow.” Manufacturing output growth accelerates, but confidence falls further UK manufacturing output grew at its fastest pace in ten months over the quarter to May, according to the latest monthly CBI Industrial Trends Survey. Output still failed to keep pace with demand, however, as the volume of stocks of finished goods became less adequate compared with last month. The balance of firms expecting to raise selling prices in the three months ahead increased slightly, moving closer to March’s record high. Anna Leach, CBI deputy chief economist, said: “Manufacturers have reported output growth and order books improving in May. But cost pressures remain acute and are pushing manufacturers to raise prices. Sentiment among manufacturers has fallen in recent months as the outlook has deteriorated following Russia’s invasion of Ukraine, and investment plans are being scaled back. “Rising costs are hitting consumers and businesses alike, and the Government can and must take action now to support the economy through the challenging months ahead. Putting pounds in the pockets of people already struggling should not be delayed, and must be coupled with action to support firms’ cashflow and to stimulate investment.” 06-15.qxp_Layout 1 07/06/2022 09:23 Page 7Drax partners with the University of Nottingham to pilot more pioneering new carbon capture technology Renewable energy pioneer Drax has partnered with the University of Nottingham and Promethean Particles to trial a pioneering new bioenergy with carbon capture and storage (BECCS) process at its North Yorkshire power station. The new process uses a type of solid sorbent called metal-organic frameworks (MOFs), which Promethean Particles are a global pioneer in the development and deployment of, to capture the CO2 released when sustainable biomass is used to generate electricity. CCS technologies typically use liquid solvents. MOFs have a simple structure, which means they can be tailored to separate and soak up specific molecules making them excellent for CCS. The trial will last for two months and will allow all three organisations to understand if this new carbon capture process performs well in real conditions on large-scale projects. Jason Shipstone, Drax’s chief innovation officer, said: “Negative emissions technologies like BECCS will play a vital role in the fight against the climate crisis, so it’s crucial we continue to innovate and develop new technologies that will support their future deployment.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link MANUFACTURING NEWS European manufacturer chooses Gainsborough for storage and distribution facility West Lindsey District Council has welcomed the Managing Director of Meditrade UK to a tour of the town. Meditrade is one of the leading manufacturers of healthcare products in Europe and they are looking to deliver a phased distribution centre of more than 25,000 square metres of new employment space including office accommodation. Managing Director Maximilian Roesner met Sir Edward Leigh MP, Councillor Owen Bierley, leader of the Council, and Ian Knowles, Chief Executive of the Council, to discuss the company’s plans. Councillor Owen Bierley explained the visit was an opportunity for Meditrade to showcase their investment plans and outline their development programme. He said: “It was a pleasure to meet Mr Roesner and I am thrilled that the company is moving to our district. We are delighted to welcome Meditrade who we know will be a welcome addition to our thriving town. The site will provide the company with a base for the storage and distribution of its products across the UK. “We hope the business will have a bright future here like many of our other major employers who are based in Gainsborough including Eminox, Amp Rose and Ping European headquarters. “This opportunity is a huge step forward in our plans for the growth of Gainsborough and continues to build on our Invest Gainsborough initiative.” Invest Gainsborough was launched in 2018, an initiative, led by West Lindsey District Council, supported by the private sector to deliver £18 million regeneration plans in the town. Since then, the town has seen huge investments including: a new hotel, restaurant, improvements to shop fronts, restoring the heart of Gainsborough and changes to the infrastructure in the town to accommodate new sustainable housing sites in key locations. © stock.adobe.com/ andov 06-15.qxp_Layout 1 07/06/2022 09:23 Page 8PROPERTY NEWS Work gets underway to build over 1,500 Burton homes The start of work on 400 affordable homes at Dracan Village, Burton- on-Trent, has been marked by a ground-breaking ceremony that saw Countryside, the mixed-tenure developer, welcoming partners to the former power station site in Drakelow Park. Countryside is working with Midland Heart, the housing association, to provide over 400 affordable properties, as well as Sigma Capital Group plc, one of the leading providers in the build-to-rent market, to bring a completely mixed-tenure offer to the 1,500-home development in Burton-on-Trent. Countryside and Midland Heart were joined on site by representatives of South Derbyshire District Council and Derbyshire County Council, as well as the local Member of Parliament, Heather Wheeler MP, to officially mark the start of a project that is set to transform the brownfield site and the wider area. All the homes will be closed panel homes built off-site at one of Countryside’s modular factories. Joe Reeves, executive director of finance and growth at Midlands Heart, said: “It’s great to be onsite at Drakelow to see the early stages of this site. This is going to be a thriving and sustainable community for people to live in affordable housing and we’re really pleased to be part of that in partnership with Countryside.” Frank McArdle, Chief Executive of South Derbyshire District Council, added: “Today marks the start of a major and long envisaged regeneration project, the aim of which is to create a sustainable community development in the south west of the District of South Derbyshire.” Charterpoint sells Leicestershire care home development to care operator Cinnamon Luxury Care Senior living developer Charterpoint has sold its care home development near Leicester to care operator Cinnamon. Following Charterpoint receiving planning permission and obtaining vacant possession, Cinnamon will now take the 73-bed residential care home development forward to construction. The scheme will feature a range of care accommodation arranged over three floors, including resident lounges, dining and relaxation areas, a cinema room, hair and beauty facilities, café and private dining, along with terraces and landscaped gardens. Situated on a 1.2-acre site in Uppingham Road, Thurnby, it will also feature car parking, including electric car charging points. Charterpoint MD Giles Nursey said: “This first-class scheme will create an attractive care home for the area, which we identified as having a shortfall in purpose-built care home provision. It will also provide important local job opportunities. As an East Midlands-based senior living developer, Charterpoint is delighted to have sold the scheme to Cinnamon who will now take it forward to the development stage.” East Midlands Business Link www.eastmidlandsbusinesslink.co.uk New build Travis Perkins development completes at Worksop A 1,933 sq m purpose built builders merchant facility has completed at the Vesuvius development off Sandy Lane, Worksop with Travis Perkins set to open in July 2022. Property development and investment company, CEG, managed the build of the bespoke unit, which will be leased by Travis Perkins. The development will create 20 new jobs, deliver a new supply chain facility for existing local business and bring economic benefits to the area. Will Moss, acquisition director from Travis Perkins plc, said: “We’re really excited to have secured this new two acre site in Worksop, which will be a key branch for Travis Perkins, providing a fantastic offering for our customers. It’s scheduled to open in July and this means we’ll be able to create new jobs in the community and help support Worksop’s construction workers and tradespeople with the expert knowledge and advice that they come to expect from Travis Perkins.” 06-15.qxp_Layout 1 07/06/2022 09:24 Page 9PROPERTY NEWS £5.9 million investment to refurbish Lincoln Central Market City of Lincoln Council have confirmed works to refurbish Lincoln Central Market have now begun. Initial works began in April to the grade II listed Central Market following investment from Historic England through the High Street Heritage Action Zone (HSHAZ) scheme, which has enabled a programme of historic building restorations designed to revitalise the area and uncover the city’s rich history. Some £5.9 million investment has also been earmarked for the project thanks to a successful bid for funding through the Be Lincoln Town Deal, which has seen £19 million awarded to the city by government to drive economic regeneration and deliver long- term economic and productivity growth. The market was first built in 1937 to the design of architect Robert Atkinson and incorporates the relocated façade of the original 1737 butter market which was located at St Peters at Arches in Lincoln. It is also proposed to repave and enhance external areas in City Square and Sincil Street to encourage the evening economy, with space for outdoor dining by the waterway and events. Plans for Derby Business School get green light Plans put forward by the University of Derby to build a Business School in the city centre have been approved. Earlier this year the University submitted a planning application to build Derby Business School on land adjacent to the University’s One Friar Gate Square building, and on Thursday 26 May Derby City Council’s planning committee unanimously gave it the go ahead. Professor Kathryn Mitchell CBE DL, Vice-Chancellor and Chief Executive of the University of Derby, said: “We are delighted that the planning application for our city centre-based Derby Business School has been approved. This is a key milestone for the project, and we are extremely pleased to have reached this stage. The building will be crucial in the city’s regeneration plans and will offer students a high-quality, innovative learning and teaching environment. Working closely with our partners, we are looking forward to the next phase of this ambitious and significant development.” New Beeston student scheme to boost town centre Midlands-based developer Cassidy Group has submitted a planning application for a mixed-use scheme at the edge of Beeston town centre that will breathe new life into a derelict site – and bring increased footfall and economic benefit to local retailers. Built using sustainable materials, the seven-storey mixed use scheme of retail/commercial units will feature student accommodation – meeting the needs of modern student life and freeing up a huge number of Beeston and city HMO student houses for families to move into. The 419-bed scheme in Station Road, next to The Arc Cinema and Tesco, is a few minutes’ walk from the University of Nottingham campus and is on the tram route. The scheme is situated next to new bars and restaurants such as Ottimo and the forthcoming Beeston Social. Sam Rose, of Cassidy Group, said: “We are excited to bring this student scheme to Beeston. Not only will students love living there – so close to the amenities they enjoy, as well as their university campus – but we are bringing a derelict site back to life.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 06-15.qxp_Layout 1 07/06/2022 09:24 Page 10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk STOKES TEA & COFFEE Q&A 2022 brings with it soaring costs and huge challenges for SMEs. British independent businesses are the backbone of Britain, and the UK hospitality sector makes up a large chunk. It employs 2.9 million people, generates £130bn in economic activity and pays £38bn in taxation. It’s also the third largest private sector employer in the UK. The ongoing reduction in non-essential spending by consumers as living costs skyrocket means hospitality business owners are having to work harder to win their share. The sector has been grappling with staff and skills shortages too, all at a time when getting service and quality right consistently could be the deciding factor in a firm’s fortunes. Lincoln-based, family-run, Stokes Tea & Coffee has been brewing up exceptionally fresh roasted beans and blends for both retail and wholesale customers for 120 years. The company has a long history of supplying wholesale coffee, tea, machines, servicing, and training as well as operating two of the busiest cafés in the city of Lincoln. With most of its trading associated with the hospitality sector, Stokes is well placed to give an insight into to what the ‘coal-face’ looks like for businesses. Nick Peel is the current MD and the 4th generation in the family to run Stokes, he talks about what’s being done to support the sector. What are the biggest challenges for your sector right now? “I think most businesses are feeling somewhat ‘punch-drunk’ from the breath-taking extent and speed of cost rises. Hospitality has seen its fair share of eye-watering challenges of late, with staffing shortages and the dramatic effects of the pandemic. Everyone, everywhere is feeling the pinch, meaning customer spending power is being weakened. The fight to win and keep customers is intensifying and only businesses that provide the highest levels of quality and service stand a realistic chance. We work closely with our customers to support them. It sounds like a cliché, but we really do understand that our success depends on theirs. It’s what we’ve always focused on and is front and 120 years with a trained eye on the future! Nick Peel MD at Stokes Tea & Coffee Family-run and Lincolnshire-based Stokes Tea & Coffee, has been brewing up our favourite drink for 120 years, now they’re sharing knowledge and magic with more people through a dedicated training academy – we sat down with Managing Director, Nick Peel for a cup of freshly roasted coffee to find out more. 16-17.qxp_Layout 1 07/06/2022 09:25 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link STOKES TEA & COFFEE Q&A centre for us. Staffing and skills shortages have been an issue across the sector so it’s vital that our customers get the support and training they need to deliver the best product to keep and win their customers, that’s where our Accredited Training Academy really comes into its own. Tell us about the Stokes Training Academy Our purpose-built Barista Training Academy is located at our HQ, at the Lawn Building in Lincoln. It was one of the first of its kind in the area and is a dedicated facility right next to our coffee roastery. It is one of only fifty in the UK, accredited by the BSA (Beverage Standards Association). We provide everything from virtual experiences to corporate clients like Microsoft and Amazon, where they join our Training Academy Manager online for professional tasting experiences using our specially designed kits, which is a big hit for team building and corporate hospitality, right through to physical, in person City & Guilds courses for professional baristas and start up hospitality businesses. We also offer a wide range of training and experiences onsite including tours of our roastery to the general public and budding baristas everywhere! How is the Training Academy helping the hospitality sector? Coffee can make or break a business. We know that quality is the most important factor in coffee shop success. Keeping customers coming back depends on much more than using the best beans or the best machines. We’re helping our wholesale customers to train staff so they can keep standards high, and their customers coming back - it’s vital to ensure their businesses survive and thrive. We offer free training designed specially to help them avoid common mistakes and pitfalls by adopting simple steps to keep coffee consistently perfect and customers happy. We put a lot of love in to sourcing and roasting the best coffee beans so it’s also important that the quality flows right through to the final cup! How is Stokes helping to address the skills gap in hospitality? Our family business has been roasting coffee, blending tea and training baristas for well over a century! We’ve used our know-how to create a superb selection of experiences and courses so that literally everyone can explore the wonderful world of tea or coffee. As well as providing essential training for businesses, budding baristas, and experiences for the public with a keen interest in coffee, we also work with organisations to support skills and employment such as the Princes Trust, Lincoln College and even the DWP. It’s immensely rewarding to help equip people with skills and newfound confidence, and of course, it helps the industry because it’s providing much needed skills and newfound enthusiasm for hospitality too.” There’s no doubt that the prospects are challenging for all businesses now. But the willingness of some to share skills, know-how and work collaboratively may well be the factor that secures fortunes. Stokes is a company that is proud of its history and heritage. With further plans afoot, this great Lincolnshire business has an exciting future and is looking forward to its next 120 years! Stokes Master Roaster Mike Find out more at www.stokescoffee.com 16-17.qxp_Layout 1 07/06/2022 09:25 Page 2 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY I t’s obvious to say that city centres have taken a beating in recent years – even decades. Ever since online shopping became a thing, footfall has fallen and stores have closed, and the pandemic and lockdown didn’t make that any easier. The reality is that in a more online and connected world, meeting up on a high street or in a town or city centre just isn’t as important anymore. It’s not necessary. That, however, has led to many city centres struggling, and commercial property prices fluctuating. More than that, it’s led to many properties being transformed to office space, which solves the issue but would in the future mean city centres filled with nothing but offices. Not exactly ideal. That’s why many cities in the East Midlands are working on revitalising or changing city centres in their own, unique ways. In Derbyshire, Derby City Council are taking the first steps in launching a new ambition document and city conversation to address the issues that are facing UK cities. As part of the city’s recovery from the COVID-19 pandemic, and to meet the challenges of the 21st century, Derby City Council has created a new ambition document which outlines ideas for a bold, transformational vision for Derby city centre. The vision will focus on longer-term ideas and interventions that will transform the city centre and secure its future as a vibrant place that people can feel proud of and want to visit. It will recognise the challenges facing all city centres, not just Derby, and provide an over-arching ‘direction-of-travel’ that will inform future plans and actions. This seems to be an acceptance of the reality that ever since online shopping, many high streets have become filled with closed- down shops and is perhaps the first sign of a local council taking active steps to accept and act around that, rather than try and deny or find a way to “fix” it. The reality being that this death of the old-fashioned high street may simply be a natural part of societal development, and not a problem that can be fixed. Cllr Chris Poulter, Leader of Derby City Council said: “We’re excited to start this open conversation with our residents, businesses and stakeholders. This is a fantastic opportunity to East Midlands reinvents the city centre Closed stores, lesser footfall and a lack of respect – city and town centres have taken a beating since COVID, but now local councils are stepping up to tackle the issue. 20 Á 18-20.qxp_Layout 1 07/06/2022 09:26 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link COMMERCIAL PROPERTY © stock.adobe.com/Electric Egg Ltd. © stock.adobe.com/SakhanPhotography 18-20.qxp_Layout 1 07/06/2022 09:26 Page 2Next >