< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Increase in UK equity investment sees region secure £76m in 2020 The British Business Bank’s Small Business Equity Tracker 2021 shows that equity investment in the UK’s smaller businesses increased by nine per cent in 2020 to £8.8bn, the highest annual investment amount since the data series began in 2011. Businesses in the East Midlands secured two per cent of UK equity investment in 2020 (£76m). This is a 167 per cent increase on the £29m invested in 2019. Despite this, the East Midlands remains under-represented in its share of UK equity investment compared to the region’s share of high growth businesses. The British Business Bank backed 10 per cent of equity deals in the West and East Midlands in 2020 – a steady increase for the past five years and bucking the trend of the overall equity market at five per cent. The British Business Bank’s supported equity deals are becoming more regionally diverse, with deals undertaken in London reducing sharply from 68 per cent in 2016 to 42 per cent in 2020. This shift signals a positive change for regional businesses and has been driven by increased activity from the Midlands Engine Investment Fund (MEIF) and the Bank’s range of equity programmes. Across the region, the share of MEIF-supported equity deals has increased from 20 per cent in 2019 to 25 per cent in 2020. The Fund has provided finance to over 350 smaller businesses in the West Midlands, East and South Midlands. Dr Sophie Dale-Black, UK Network Director, Midlands at the British Business Bank, said: “The East Midlands is home to many innovative and ambitious businesses which we can see through the increase in value of equity investment being secured to unlock growth, develop new technologies and bring products to market. “While it is positive that there appears to be a continued shift away from regional imbalances in terms of access to finance, it is clear that there is a long way to go to fully realise the potential in the East Midlands and unlock further growth for smaller businesses.” The RU Group and EBI launch sustainable investment partnership Wealth management and financial advice firm, The RU Group has entered into a partnership with EBI Portfolios to expand its access to ESG (Environmental, Social and Governance) investments. Socially conscious or sustainable investing is a growing trend within wealth management and financial advice. It is an investment strategy which aims to combine financial return with positive social value. Ian Browne, Head of Advice at The RU Group, says: “We are finding that more and more of our clients want to be able to express their values and personal convictions through their savings and investment choices. We therefore wanted to expand our service offering in this area to offer our clients increased choice in this area.” Using environmental, social and governance criteria, investment opportunities are assessed against their impact on the wider world. Environmental criteria includes things such as animal welfare, pollution and waste prevention, potential risks posed through emissions and compliance with legislation or regulation. Social elements take into account employee health and welfare, community and charity contributions, relationships with stakeholders, ethics and values, while governance looks at transparency and accuracy in accounting, adherence to relevant code of practice and industry standards. Ian Browne adds: “Assessing ESG criteria to analyse and evaluate investment opportunities is an increasingly popular way to determine how and where investments are made. In partnership with EBI we are able to provide Earth Portfolios which give investors the opportunity to combine a passion for ethical behaviour with positive financial returns.” According to a 2019 report from Allianz, 90% of investors care about at least one ESG issue, 81% of investors like the idea of aligning their values and investments and 66% of investors have a positive impression of ESG once it is explained to them. Private equity firm acquires BRUSH One Equity Partners (OEP), a middle market private equity firm, has completed the acquisition of the BRUSH Group, a provider of equipment, services and solutions for electrical power generation and distribution. Terms of the private transaction were not disclosed. Founded in 1889, and headquartered in Ashby de la Zouch, BRUSH has a long history serving power generation, control and distribution products, namely turbogenerators, transformers, and switchgear. The company’s 1,200 employees also provide a range of services for these same product segments worldwide. BRUSH’s products are used across a range of end markets, including utilities, industrial, maritime, rail, data centres and renewable applications. Ori Birnboim, Managing Director, OEP, said: “With a rich history dating back to the 1880s, BRUSH has a proven track record for market leadership, product innovation, and trusted customer service. OEP is excited to partner with BRUSH’s industry-leading management team for the next chapter in the BRUSH story.” Additionally, BRUSH has acquired Aprenda, a specialist electrical engineering company that provides a range of consultation, design and turnkey installation services for customers in the UK power distribution industry, for undisclosed terms. “OEP has a strong track record of building market-leading industrial companies through organic and inorganic investment initiatives that drive operational performance, add product capabilities and expand geographic reach,” said Chris Abbott, CEO of BRUSH. “We’re thrilled to have completed the acquisition of Aprenda with the support of OEP and pleased to be partnering as we continue to further develop the Company. Together, we look forward to starting a new and exciting chapter of growth for BRUSH.” Dechert LLP served as legal advisor to OEP on the transaction. Dr Sophie Dale-Black Ian Browne 06-15.qxp_Layout 1 01/07/2021 12:07 Page 5Centre for Private Equity returns to Nottingham University The Centre for Private Equity and Management Buyout Research (CMBOR) has returned to its founding institution, Nottingham University Business School, after a hiatus in 2020. CMBOR will reinstate its practice of providing comprehensive data and insight around European buyout activity and extend its 35-year track record as a leading academic institute devoted to the study of private equity, sponsored by Equistone. The Centre, led by Dr Kevin Amess, Associate Professor in Industrial Economics at Nottingham University Business School, will continue in its previous scope of independently analysing management buy-outs and providing private equity statistics for Europe in a comprehensive and objective way. CMBOR produces reports that are an essential investment validation tool for market practitioners looking for valuable evidence. The Centre was founded in 1986 at the Nottingham University Business School by the late Professor Mike Wright, before moving to Imperial College Business School with him in 2011. Dr Kevin Amess was the natural fit to lead the relaunched Centre, having previously worked with Professor Wright and sharing his passion for management buyout research. Dr Amess said: “I have long admired the quality and longevity of CMBOR research, having been involved with the centre for a number of years. I am delighted to be leading the programme into the future. Having researched private equity and leveraged buyouts, I recognise the value of sourcing and analysing data of this kind, which is rare in private markets. “Private equity is facing a transformed post-pandemic landscape and we’re excited to shed light on the fundamental shifts that have taken place over the past year, as well as the emerging trends that will shape the future of the industry.” Professor Duncan Angwin, Dean of Nottingham University Business School, said: “I am delighted that CMBOR is returning to its home under the leadership of Dr Kevin Amess and with the sponsorship of Equistone. CMBOR has long shown how excellent research and analysis has real impact on industry and it will continue to illuminate and inform fundamental changes in financial and business landscapes.” Equistone, a supporter of CMBOR since its inception, has signed a new exclusive sponsorship agreement to fund the Centre upon its return to the University of Nottingham. Christiian Marriott, Partner and Head of Investor Relations at Equistone, said: “We are excited to have Kevin and the University of Nottingham on board to bring back this longstanding research, providing in-depth analysis and insight on European buyout markets.” FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 Derby marketing firm swoops for established agency Derby-based marketing agency Koobr have agreed terms to acquire another established agency, Carmichael Collective, formerly owned by Murray Carmichael- Smith. Following a long career running the Nottingham-based bcsAgency, and the successful sale of Crowdicity for an undisclosed sum, Murray has now agreed acquisition terms for Koobr to carry forward the success story of Carmichael Collective. Koobr, a full-service creative marketing agency, has an existing portfolio of national and international clients, and this acquisition is set to strengthen Koobr’s foothold not only in the East Midlands, but nationally and internationally across a variety of sectors. Murray said: “I have worked with Craig Barker and the team at Koobr for a number of years and know that their ethos and quality of work align with the high standards that our customers have come to expect. I am excited to see how the business evolves and develops with a new team driving it forward.” Craig, Director at Koobr, said: “For many years Murray has been an inspiration and mentor to us. We are looking forward to building on the fantastic work and achievements that Murray and his team have accomplished during the last two decades.” Koobr are now actively seeking other potential acquisition opportunities to help fuel their growth plans for the future. Craig added: “The challenges of the last few months have forced many to question the priorities in their life. We recognise that many business owners that have worked hard to create a successful company are now looking for a change in direction. The experience we’ve had with Carmichael Collective has inspired us to look for further acquisition opportunities as part of our growth strategy.” © Shutterstock / wowomnom © Shutterstock / Elle Aon © Shutterstock / Simon Annable 06-15.qxp_Layout 1 01/07/2021 12:07 Page 6Nottinghamshire manufacturer doubles footprint with new premises A Nottinghamshire manufacturer and wholesaler of electrical components has purchased its first ever premises to support the launch of its new third-party logistics venture, after securing a seven-figure commercial mortgage from HSBC UK. The funding has enabled SAC Electronics to move from a 14,000 sq ft leased unit in Mansfield to a 32,000 sq ft freehold premise in Hucknall, more than doubling its physical footprint. The investment will not only secure the company’s future but also support the launch of SAC Storage, a new separate entity, which will allow existing customers and local businesses to store large quantities of stock purchased in bulk due to supply chain disruptions and long lead times caused by the pandemic. The company, which predominantly supplies its products to retailers and Trade Counters, hopes to continue to expand both businesses across the UK over the next few years. Frank Doherty, Managing Director of SAC Electronics, owner of SAC Storage, said: “Despite the challenges we’ve faced over the last 12 to 18 months, we’re now in a good position to grow the business at a faster rate than ever before. “With our new premises and the launch of SAC Storage, we’re excited about the future and would like to thank our Relationship Manager at HSBC UK, Mark Greasley, who clearly understood our ambitions and growth potential.” 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS More sales, jobs, investment predicted by region’s SME manufacturers Confidence amongst SME manufacturers in the East Midlands is at its highest level for two years according to the latest Manufacturing Barometer, carried out by the Manufacturing Growth Programme (MGP) and SWMAS (the South West Manufacturing Advisory Service). Two thirds of firms are expecting to increase sales between now and October, with 53% indicating that they are planning to boost investment over the next six months as they look to the future. Out of 38 firms questioned, 53% highlighted an increased need to recruit staff over the coming months. This quarter’s Barometer took an in-depth look at how manufacturing SMEs are recovering from the pandemic and, encouragingly, 55% of respondents now expect to return to, or exceed, their pre-COVID-19 position within three months. On the jobs front, although 82% of businesses have utilised the government’s furlough scheme at some point in the last year, only 42% are still using it today. The report also reveals that new working practices are being implemented because of the pandemic. Nearly two fifths of business leaders questioned are now planning to offer their employees some level of remote working, up 23% from the number who were offering this before the pandemic began. Martin Coats, Managing Director of the Manufacturing Growth Programme, said: “Small to medium-sized manufacturers in the East Midlands experienced a positive quarter’s trade between January and March, with 42% reporting an increase in sales, compared to 40% in the previous barometer. Whilst COVID-19 has been challenging, it has accelerated new ways of working, some of which have proven to be more effective.” He continued: “39% of manufacturers have said they will continue to offer some form of remote working going forward, which would have been unheard of fifteen months ago. These beneficial changes will offer employees more flexibility and, ultimately, a better work/life balance. “Firms often cite that recruiting skilled staff can be a challenge. With this in mind, it is vital that they understand the working practices offered by other employers across the sector to help them compete and attract the best talent. The intelligence within this quarter’s Manufacturing Barometer offers businesses a unique advantage in terms of supporting their future growth ambitions.” Midlands food manufacturers battle Covid-Brexit double whammy Food and drink manufacturers have endured the twin challenges of COVID-19 and Brexit with resilience and strength, and are ploughing ahead with growth, according to new research published by accountancy and business advisory firm BDO. Despite a year of substantial change and uncertainty, BDO’s Food & Drink Report 2021 shows that more than three quarters (78%) of businesses are feeling positive about their future prospects, with 68% expecting profitability to increase in the next 12 months. Looking ahead, new product development, expansion into new UK markets and investment in production are the top three areas of growth identified. Business leaders also see sustainability as a key focus, particularly in reducing waste, plastics and emissions. However, challenges remain for the sector which employs 93,000 people across the Midlands and contributes £5.57bn to the regional economy. Almost a third (31%) of the businesses questioned experienced a decrease in margins last year and, with rising inflation on the horizon, increased pricing pressures are expected. Cindy Hrkalovic, audit director at BDO in the Midlands, said: “Across the region, sectors from aerospace to the arts have taken body blows from COVID-19 that will require a long period of recovery. Fortunately, food and drink has proved more resilient to the impact of the pandemic, which has been positive for the region as a whole. “The East Midlands employs the highest number of people in the industry (61,000) in the UK and another 32,000 people work in food and drink manufacturing in the West Midlands. While there are clearly still many challenges ahead, food and drink manufacturing has held up remarkably well.” Cindy Hrkalovic 06-15.qxp_Layout 1 01/07/2021 12:07 Page 7Rolls-Royce to create jobs as it enters new aviation markets Rolls-Royce is entering new aviation markets to pioneer sustainable power and will be developing energy storage systems (ESS) that will enable aircraft to undertake zero emissions flights of over 100 miles on a single charge. In order to deliver this technology, the company is planning an £80m investment in ESS over the next decade, that will create around 300 jobs by 2030. Aerospace-certified ESS solutions from Rolls-Royce will power electric and hybrid- electric propulsion systems for eVTOLs (electric vertical takeoff and landing) in the Urban Air Mobility (UAM) market and fixed-wing aircraft, with up to 19 seats, in the commuter market. By 2035, Rolls-Royce is planning to integrate more than 5 million battery cells per annum into modular systems. Rob Watson, Director of Electrical, Rolls-Royce, said: “This multi-million-pound investment by Rolls-Royce over the next decade is another demonstration of our ambitions in electrification. We are developing a portfolio of energy storage solutions to complement our electrical propulsion systems. “This will ensure that we can offer our customers a complete electric propulsion system for their platform, whether that is an eVTOL or a commuter aircraft. It will enable us to be a ‘one-stop shop’ for all-electric or hybrid-electric propulsion systems, which is incredibly exciting as these new markets develop and expand.” Rolls-Royce has designed 10 different aerospace battery systems, using state-of- the-art cell technology. Of these batteries, four designs have already flown in three aircraft, accumulating more than 250 hours of flight experience and another two designs will complete their first flight in aircraft in 2021. This includes a battery developed with Electroflight, Rolls-Royce’s UK manufacturing partner in the ACCEL programme, in which the firm has built the Spirit of Innovation aircraft, that is aiming to be the world’s fastest all-electric plane. Both ACCEL and the initial research and technology Rolls-Royce has undertaken to develop industry leading ESS are being supported by the UK Government through the Aerospace Technology Institute (ATI). Rolls-Royce is also working closely with WMG, University of Warwick through its High Value Manufacturing Catapult to develop energy storage technology. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 MANUFACTURING NEWS Engineering group to establish HQ in Derby Engineering group, Nèos International, will establish its group headquarters in Derby. Based at Westside Park, Raynesway, the move will also create a permanent home for the group’s new specialist composite facility, run by subsidiary, Nèos Composites – creating up to 150 jobs and technical apprenticeships in the city, and hundreds more through indirect supply chain employment. The move follows months of location scouting by Nèos International, with Derby City Council leaders stepping in to offer a purpose-built composites manufacturing and development facility. Composite materials are used in aerospace, rail, automotive and other high value industries, many of which Derby is home to, with players like Toyota, Airbus, Alstom, Rolls-Royce residing in the city. Carl Roberts, Nèos International CEO, said that Derby’s strong engineering background was a key pull to the city. “Derby has long been heralded as an engineering and manufacturing powerhouse – from early developments in steel, to the latest in safety critical systems for aerospace, Derby has a rich history in delivering engineering excellence,” he said. “The city itself is famous for the aerospace and rail heritage, but this belies the scope of opportunity that such a well-located city can offer. Many of our customers and the sectors we serve are represented within Derby and Derbyshire from aerospace to automotive, and from nuclear to infrastructure. By assimilating several of our business units together in one facility, we expect to leverage the very best of what the city has to offer in terms of the workforce and the supply chain.” With expertise in F1, motorsport, space, defence, aerospace and rail, Nèos hopes to grow its customer base across multiple industries, and expects to generate an annual revenue of £20m from the facility within the next two years. Paul Simpson, Chief Executive of Derby City Council, said that Nèos’ move built on the city’s three key pillars for economic recovery – maintaining confidence, diversification and decarbonisation – and would be welcomed by many of the organisations already in the city. “For the city, and indeed the Council, the move fits perfectly with our future ambitions; Nèos’ focus on innovation, and their diverse market specialism ticks key boxes in our economic recovery strategy,” he said. “Their background in aerospace, automotive, composite and rail mean a number of organisations already operating in Derby will benefit, so we’re excited to see the positive implications for our local supply chain.” © Shutterstock /petrmalinak © Shutterstock /Matheus Obst 06-15.qxp_Layout 1 01/07/2021 12:08 Page 8PROPERTY NEWS Distribution facility sold to windscreen business Clowes Developments has sold Unit 11B at Castlewood Court, located off junction 28 of the M1, to Charles Pugh (Glass) Ltd. The speculatively built 31,968 sq ft warehouse and distribution facility with office space, welfare facilities, a floor to ceiling glass windowed reception area and four loading doors has sold for an undisclosed sum to the national windscreen and vehicle accessories distributor. The company has six other distribution centres across the UK including its head office based in Pinxton, Enfield, Wednesbury, Leeds, Leicester, and Manchester. Ed Pugh of Charles Pugh (Glass) Ltd said: “The move to Castlewood Business Parks marks significant expansion for the company. The brand-new facility with its excellent location and links to major road networks provides the perfect addition to our distribution centres located across England.” Hannah Bailey, Development Surveyor at Clowes Developments, added: “We are delighted to have a reputable company such as Charles Pugh (Glass) Ltd joining the growing list of businesses who have chosen to make Castlewood their home. The site keeps going from strength to strength with interest and deals progressing at a consistent and encouraging pace.” Graham Bancroft, Director at BB&J Commercial, marketed the property at Castlewood Court and said: “The market for warehouse and distribution space continues to go from strength to strength, with high quality new build developments like Unit 11B Castlewood Court being of extremely high demand. “Its accessibility to the transport links and also to the purchasers nearby site made this the perfect property to help with their growth. I am delighted to have achieved the sale to Charles Pugh (Glass) Ltd on behalf of Clowes Developments.” GMI awarded £30m contract to build Derby residential scheme GMI Construction has been awarded a contract worth £30m by St James Securities to construct a 259-unit build to rent (BTR) apartment block within the major Becketwell mixed-use regeneration project in Derby city centre. The development, which will feature a mix of one- and two-bedroom units over 11 storeys, has been sold to Grainger plc. The building expected to be completed by March 2023. In addition to working on the construction of the apartment block, GMI will also undertake works on the new public square that will serve as the focal point for the regeneration of Becketwell. Commenting on the project, GMI Group Managing Director, Andy Bruce, said: “We are thrilled that the St James Securities team has once again put its trust in GMI to deliver this high-profile apartment block within the Becketwell development. “We have worked together several times before at sites across the UK and GMI’s relationship with SJS serves as a long-term partnership stretching back several years. “We are looking forward to working with the full project team and seeing this development come out of the ground and at the heart of the regeneration of Becketwell.” Oliver Quarmby, Managing Director of St James Securities, said: “We are delighted to be continuing our long- standing relationship with GMI Construction on what is a hugely significant regeneration project for the City of Derby. “GMI has a track record of working on award-winning projects for an extensive portfolio of developers, public sector clients and blue-chip companies across a broad range of sectors and we are delighted to have them on-board. “Construction is progressing well, and we anticipate handing the keys over to Grainger at the start of 2023.” 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk University of Lincoln breaks ground on research facility A new research and development facility in Lincoln city centre is one step closer to reality as construction gets underway on a specialist hub to facilitate collaboration between local businesses and research experts. An official groundbreaking event for ‘The Bridge’ Advanced Engineering Research and Development facility took place at the University of Lincoln’s Brayford Pool campus in June, with representatives from the Greater Lincolnshire LEP, Gleeds, Siemens, Dynex and Teledyne e2v in attendance alongside Henry Brothers, the successful contractors for the build. Funded by the European Regional Development Fund and the Greater Lincolnshire LEP, the new building, due for completion in spring 2022, will act as a centre for collaborative research and development between business and industry partners and the University of Lincoln. The concept has been co-developed with a working group of industry-based scientists and with engagement from a consortium of more than 20 companies in the region, including Siemens, Dynex, Micrometric and Teledyne e2v. Located alongside the Lincoln Science and Innovation Park, the building will house £1.2 million worth of equipment in specialist laboratories including advanced electron and atomic force microscopes, as well as surface analysis and thermo-mechanical instrumentation. Alongside high-tech laboratories including clean room facilities, there will be innovation and learning lounges for businesses to engage in training, development and networking activities. 06-15.qxp_Layout 1 01/07/2021 12:08 Page 9PROPERTY NEWS Green light given to Ratcliffe energy re-generation centre Nottinghamshire County Council has resolved to grant planning permission for a new energy recovery facility to be built on land within the Ratcliffe-on- Soar power centre. The green light for Uniper to build the £330m East Midlands Energy Regeneration (EMERGE) centre was given by the county council’s Planning and Rights of Way Committee. The facility will be able to manage at least 472,000 tonnes of residual waste per year and will create 45 permanent, new jobs once up and running in 2024. Councillor Richard Butler, Chairman of the Planning and Rights of Way Committee, said: “No application decision by this committee is ever taken lightly, and we all take very seriously the county council’s pledge to solve the climate emergency in Nottinghamshire. “However, once all the evidence was carefully considered, it was concluded that the incinerator would bring benefits for the people of Nottinghamshire without impacting our commitment for carbon neutrality to be reached by 2030. “This new centre will provide a much better way to manage residual waste compared to disposing it at landfill, the only other alternative, and will generate electricity to power itself and also around 90,000 homes via the National Grid. “The construction will take place on already developed greenbelt land, and the visual impact of the new incinerator will be mitigated by demolishing two existing power station cooling towers. “Strict guarantees were placed in the planning permission for vehicles bringing in waste to stick to the A453 and avoid nearby villages. “We also considered the economic benefits from the new incinerator including 45 new jobs, £330 million of investment into the county and the potential role it will play in the ongoing redevelopment of the power centre site.” Walkers warehouse acquired for £12.1m Oxenwood Real Estate, the UK and European real estate investment management firm, has acquired a distribution warehouse which supports the Walkers crisp manufacturing complex in Leicester. The prime warehouse, which totals 122,275 sq ft and is located on Bursom Industrial Estate, has been acquired by Oxenwood for Oxenwood Catalina, its joint venture with Catalina Holdings (Bermuda) Ltd, for £12.1 million, reflecting a net initial yield of 5.0%. The three-bay warehouse is let to Walkers for a further 10 years and is used for the storage of raw materials prior to being delivered to the adjacent manufacturing plant. Walkers was founded in Leicester in 1948 and is now a wholly owned subsidiary of PepsiCo, Inc. The Walkers complex on Bursom Industrial Estate is the largest crisp production plant in the world, producing more than 11 million bags of crisps per day. Stewart Little, co-founder and CEO of Oxenwood, said: “Despite the competitive nature of the sector, it is reassuring that we continue to acquire assets off-market in locations where we see continued growth. “The length and strength of the income stream will sit well within our joint venture with Catalina as we seek assets with a strong income component. The building is integral to the wider Walkers’ operation, which may give rise to further asset management initiatives in the future.” Oxenwood was advised by Lambert Smith Hampton and the vendor was advised by TT&G Partners. Planning permission secured for 736,000 sq ft warehouse in Ashby GLP, an investor and developer of logistics buildings and warehouses, has secured planning permission for the development of up to 736,000 sq ft of warehouse space at G-Park Ashby. The planning consent allows for the development of either one or two units depending on customer requirements. The 66-acre development site at G-Park Ashby is centrally located in North West Leicestershire at the heart of the Golden Triangle for logistics. The site was formerly occupied by ‘The Lounge Coal Preparation and Disposal Point’ and will now be re-developed to provide Grade A modern logistics space in a prime location. The new unit(s) will be built to GLP’s enhanced specification including an 18 M clear internal height. In line with GLP’s sustainability commitment, the development will be built to BREEAM UK Excellent level standards and will include a range of innovative environmental features, such as rainwater harvesting and an online energy dashboard to help customers proactively manage their energy consumption. Gwyn Stubbings, Planning Director, GLP, said: “The proposals to redevelop a brownfield site will deliver significant economic benefits to the area including improved local infrastructure and creating almost 1,000 new jobs, at a time when the need for logistics has never been greater.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 © Shutterstock /urbanbuzz © Shutterstock /Jat306 06-15.qxp_Layout 1 01/07/2021 12:08 Page 1016 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY This issue, we highlight several major restoration and regeneration developments across the region that mean jobs and investment. N ew developments are something to be celebrated. They bring investment to the region, create jobs, and attract companies to set up shop in the area. Equally as important is preserving that area’s heritage and existing property. Not only does this ensure that historic buildings are preserved for future generations, but can breathe a new lease of life into neglected properties and sites. First up is that most historic city in the East Midlands: Nottingham. The City Council is outlining a vision for future development in the Eastside Area of the city and is set to seek people’s views. The council aims to create a framework, which will help shape development in this part of the city in the future, such as good quality public spaces, strengthened links and connectivity to other parts of the city, high sustainability standards and a good balance of housing types. Known as the Eastside Supplementary Planning Document (SPD), it covers an area to the east of the Victoria shopping centre as far as St Mary’s Rest Garden and Victoria Park and down to Sneinton Market, which includes parts of the Creative Quarter. The council’s planning officers and Planning Committee members will use this when deciding whether to allow or refuse planning permissions, alongside other national and local documents. Eastside is at the centre of Nottingham’s digital media, gaming, TV and film industries. The recent redevelopment of the Sneinton Market Avenues has created a vibrant centre for creative and digital businesses, and there is interest in further developments in the area, which has seen significant changes in recent years. The draft SPD, sets out the council’s Repurpose, revitalise, Repurpose, revitalise, 16-19.qxp_Layout 1 01/07/2021 12:12 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY © Shutterstock /Caron Badkin vision for the area and provides additional planning guidance, alongside the Local Plan, to help shape and guide future developments. Once adopted, planning officers and members of the Planning Committee will be able to use the Eastside SPD to provide developers with additional planning guidance. Eastside is home to the nationally recognised Confetti Institute for Creative Technology, Antenna, a co-working facility for the creative community and Metronome, a 400-capacity live performance venue. The area also contains a mix of low-level office, retail and leisure spaces, along with a number of sizeable light industrial and trade warehousing units. Nottingham Trent University’s City Campus has a strong presence close to the Eastside and in recent years, has become increasingly attractive to Purpose Built Student Accommodation (PBSA) developers. However, the area also appeals to investors in build-to-rent schemes, and other residential schemes like the development of the Fruit Market by Blueprint. Cllr Linda Woodings, Portfolio Holder for Planning, Housing and Heritage at Nottingham City Council, said: “Eastside is an important part of Nottingham’s economic renewal and recovery. With increasing interest in the area by investors and private developers, the City Council wants to ensure that new development supports the local community and businesses with good connections to jobs, services and leisure opportunities. Once adopted, the Eastside Supplementary Planning Document will provide developers with guidance on what we would like to see developed in the area and how. This includes a balance in the type of housing being created, improvements to the environment, such as open space and the public realm, protection and enhancement of heritage assets where possible and the creation of better connections from the city centre into the area and surrounding communities.” Over the last few years, a number of significant regeneration projects have been underway in the city close to the Eastside area with extensive public realm improvements surrounding the new Broad Marsh Car Park and Bus Station, the recently completed Nottingham College hub and works have begun on the first phase of the Island Quarter. If the SPD gets Executive Board approval, a public consultation is expected to begin in July. A short hop now over to Mansfield where plans to build twenty-two flats and five dormer bungalows on the site of the former Forest Care Home, on Southwell Road, have been given unanimous approval by Mansfield District Council. The move by ALB Group will give new life to the existing building which had been left empty since the care home group built a new facility up the road in 2017. The building is part of a wider development of care houses and centres on the land, including the Forest Care Home, which remains open. However, the Forest House building nearby has remained derelict since 2017, and those behind the development claim that it has been a target for vandalism and neglect. Once complete, the twenty-two apartments will comprise of eighteen one-bed and four two-bed flats, and the five dormer bungalows will all be one- bedroom – all being built by Hallsgrove Construction. Arran Bailey, Managing Director at ALB Group, said: “We think it is in an ideal 19 Á regenerate regenerate 16-19.qxp_Layout 1 01/07/2021 12:12 Page 2Armstrong house Armstrong House, Armstrong Street, Grimsby DN31 2QE Tel: (01472) 310301 • Email: s.fisher@blmgroup.co.uk Superb Location - - Close to the ports of Grimsby & Immingham - Great motorway links - Close to the town centre Secure off street parking High speed internet availability Easy in/out terms A range of affordable office sizes 3 3 3 3 3 Last remaining office suites Prime location in Grimsby Offering a prime position in Grimsby, Armstrong House on Armstrong Street is ideally located. Close to the ports of Grimsby and Immingham, motorway links and the town centre, off-street parking is also available for all staff and visitors, meaning it’s convenient too. Our spacious, welcoming offices are located on the ground floor and are both secure and CCTV-monitored, giving you the ultimate peace of mind. At Armstrong House, the flexible in/out terms of contract mean confidence when it comes to affordability and with a range of office sizes there are opportunities for all types of business. If you require virtual office services, prices start from just £15 per month. For more information, or to discuss your office requirements call 01472 310301. 16-19.qxp_Layout 1 01/07/2021 12:12 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 COMMERCIAL PROPERTY location, which is just off one of the main roads in and out of Mansfield, making it ideal for commuters into Nottingham. The site will provide ample parking for all residents, and we are looking forward to getting started on the development.” Lastly this feature we look at Northampton where the university’s Avenue Campus will be redeveloped for 170 new affordable homes. The acquisition of the Avenue Campus site, which is being sold to West Northamptonshire Council by the University of Northampton (UON), was discussed by Cabinet members in early June. This follows the former Northampton Borough Council Cabinet’s decision, in December 2020, to give the go-ahead for the Council to purchase and redevelop the University’s Avenue Campus as affordable housing. The Avenue Campus, located in St George’s Avenue and opposite The Racecourse, has obtained a hybrid planning consent for the development of up to 170 new homes. The redevelopment will include the part demolition, conversion and extension of the Maidwell Building and the demolition and conversion of other UON buildings (excluding the Grade II listed Newton Building) in order to provide new homes. West Northamptonshire Council Cabinet members were updated on the progress made in relation to this site including the funding bid submitted to Homes England, the planning approval, and the normal checks associated with the acquisition of this site. Cllr Adam Brown, Portfolio Holder for Housing, Culture and Leisure, said: “There is an extremely high demand for affordable housing in West Northamptonshire and building up to 170 extra affordable homes will help us meet some of that demand. The new homes will be allocated in line with a local lettings policy that will strike a balance between existing council tenants, homeless households and other applicants on the Housing Register. A number of conveyancing and legal checks are currently under way and matters being investigated as part of the council’s legal due diligence obligations in relation to this acquisition.” New flats on former Forest Care Home, Mansfield © Shutterstock /Romolo T avani 16-19.qxp_Layout 1 01/07/2021 12:12 Page 4Next >