< PreviousEast Mids property market showingrenewed confidence, says HannahRenewed confidence across the board has seen the property market in the East Midlandscontinue to improve according to regional expert and director at Innes England, MatthewHannah.He said: “We are seeing more and more companies making positive decisions to investand expand and a subsequent increase in market activity that obviously has a relationshipwith economic performance in not only the East Midlands but the UK as a whole.“The property market is cyclical, so the levels achieved pre-recession can certainly beachieved again but the way we get there is likely to be different – the fundamentals havechanged. Across the East Midlands we are starting to see rents recovering in prime areassuch as Clumber Street in Nottingham, but they are not quite back to where they werebefore the downturn.“That said, it is important to remember while the investment market in this country isstrong at the moment, it is set against a very different climate – money is much cheapernow than it was before the recession, interest rates are very low.”The retail and leisure sector has seen growth in the East Midlands during the last 12months – something Matthew attributes to an improved confidence from consumers.He said: “It isn’t just businesses that are feeling more confident – the man on thestreet is too. People are happier to spend their money now, which has had a reallypositive effect in the retail and leisure industry.“Nottingham is a perfect example with new restaurants and bars opening nearlyevery month; intu Victoria Centre has just added an entirely new dining area inresponse to consumer demand.“Leisure facilities are also becoming increasingly popular. For example, werecently helped to bring Planet Bounce into Nottingham city centre, but thereis a real demand for that sort of facility across the county. It’s a veryhealthy market at the moment.”Development is also back on the cards with an increased demand foreverything from discount foodstores to office space – and the EastMidlands distribution market continues to thrive.Hannah added: “The development market is emerging, withpeople keen to find good quality sites for a range of differentuses. Student residential is a significant market in the EastMidlands with schemes planned and underway acrossthe region. The region is also a strong strategiclocation for distribution warehousing, which isdoing well too.PROPERTY NEWSEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk10Pieminister beefsup portfolio withNottinghamacquisitionGourmet pie company Pieminister’s hasannounced tenth acquisition – this time inNottingham.The Bristol-based business, represented byWilliams Gunter Hardwick, has taken over the3,186 sq ft premises at 57, Long Street,vacated by Boots 12 months ago.Strip out works on the listed building havealready started and the company plans to beopen in mid-January 2016.“Pieminister is offering something uniqueto every new location,” says William GunterHardwick director Stuart Williams. “Yes, theyserve up some great food which pulls in thecustomers, but if you compare their differentrestaurants you’ll see that each new premisesis designed differently and to fit seamlesslyinto the locale.“They even vary the menu to take accountof local tastes. It’s hardly surprising that eachnew outlet they’ve opened has exceededinitial turnover targets.“You don’t get the sense of yet anotherbrand imposing themself on the High Street,and I think that’s an interesting approach thatother big names could learn from at a timewhen our society is consciously moving awayfrom conformity.”Pieminister is continuing to to seek groundfloor premises of 1,800-4,000 sq ft in a targetlist of over 20 locations. The next outlet islikely to be in Liverpool and options are alsobeing investigated in Brixton and Edinburghamongst others.Gardnerplants herselfatGunnercookeOne of the East Midlands most well-respected commercial property lawyers hasjoined a London law firm which is aiming to take a stake of the East Midlands market.Antonia Gardner, who made her name at Berryman, Eversheds and Geldards, hasjoined Gunnercooke, which has offices in London and Manchester.She told East Midlands Business Link: “I joined Gunnercooke because it’s a bona fideABS challenger to firms like Pinsents, Eversheds and DLA in terms of the pedigree of itslawyers, its outlook, the type of clients it has, and the type of clients it is winning.“We are recruiting in the East Midlands and want to replicate the success the firm hasalready had in Manchester and London.”Gunnercooke was recently named ‘Alternative Business Structure (ABS) of the Year’ at the2015 Modern Law Awards. The firm has doubled in size, year on year, since it was founded byDarryl Cooke and Sarah Goulbourne in 2010, and says it is set to do so again by the end of 2016.BHS Nottingham getsfood store expansionBHS has received over aquarter of a million poundsto create a new food outletat its department store inthe intu Broadmarsh centre,Nottingham.The retailer, which hasbeen located at theshopping centre for nearly40 years, opened the newfood store this monthfollowing a £285kinvestment.BHS has opened anumber of food stores within its department stores across thecountry and is looking to open between 50 and 60 more in2016.Adam Tamsett, general manager at intu Broadmarsh, said:“The addition of a food outlet within BHS is somethingcompletely new for intu Broadmarsh and something weare very excited about arriving here.”The BHS Food Store is now open to the public.Jo Carrotte, store manager at BHS, said: “I think thenew food store is going to be a really welcomeaddition to the centre. There’s nothing like this at intuBroadmarsh at the moment, and I’m sure that it willhelp to draw people into the store and centre.”The new food store is accessible via the BHSmain entrance on Lister Gate Square and fromCollin Street.PROPERTY NEWSwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11Nottingham High Schoolsubmits expansion plansPlans have recently been submitted to extend and improve thefacilities at Nottingham High School Junior School.The planned changes would also improve the external facilities.Playground spaces would be increased and improved, the splitaccommodation that currently exists would be removed and visitorand staff parking facilities would be improved, for the benefit of thewhole school.As a result of the proposed scheme, capacity at the junior schoolwould be increased from 200 to 240 although the overall capacity atthe school remains at 1,180. It would also enable maximum classsizes to be reduced from 24 to 20. The plans will make theplayground space more accessible.It will involve a two storey extension to the main junior schoolbuilding. This will house three additional classrooms providing a total of twelve standardclassrooms plus new specialist rooms for ICT, science and art and design technology. It willalso have a double height hall and a new entrance and provide new staff and administrationaccommodation.Alterations would also be made to the current accommodation.“The improvement and expansion of the Junior School has been on our agenda for anumber of years but we have decided that now is the right time for it,” said Kevin Fear,headmaster of Nottingham High School.“Our aim to become the premier selective, independent co-educational school in the regionsaw us welcome our first intake of girls in Sixth Form, Reception, Year 1 and Year 2 inSeptember. Our phased programme of becoming co-educational will enable girls to join theyear groups throughout the rest of the school in September 2016. Our plan would be for theexpanded and improved facility at the junior school to be open in September 2018.Wathen onboard atCatenaNetworkNottingham-based Catena Networkhas hired a new businessdevelopment manager.Gary Wathen, who also runs abusiness coaching and mentoringservice, was business developmentmanager at sportswear supplierPlayerlayer for five years. At businessnetworking group Catena, he will behelping founder Claire Bicknell growthe organisation’s membership, aswell as maintaining contact with existing members.Bicknell said: “I’m aware that as the membership of the Catena Networkhas grown, I haven’t been able to meet up with as many members as often asI’d like and to keep updated with their networking requirements. With Gary inthe team, we will both be able to make contact with them more often now.”APPOINTMENT NEWSEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk12Wilson rejoins Russell ScanlanRussell Scanlan, the Nottingham insurance broker, has added to itsNottingham head office team with the appointment of Nathan Wilson.He returns to the company after eight years and will be focusing onbusiness development as well as advising existing clients across anumber of sectors. He has over 10 years’ experience in the insurancesector.Bryan Banbury, managing director at Russell Scanlan, said: “Nathan’sappointment dovetails into what has been a very buoyant year for thecompany. We are optimistic 2016 will be another strong year. Ourclients continue to demand commercial and innovative insurancesolutions tailored to their business needs, and this is delivered with avery strong focus on client relationships.”Wilson said: “Returning to Russell Scanlan gives me new careeropportunities. The business has a great reputation for client serviceand working with SMEs means I can advise clients on insuranceissues pertinent to their size and the sectors they operate in.”New starter Jones ready forrural land deals at Mather JamieAlice Jones has joined the Loughborough-based agent Mather Jamie asassistant land agent.Jones, who graduated at Harper Adams University in Shropshire, hasjoined Mather Jamies’ Rural team to assist with valuations and estatemanagement.“I’m from a farming family,” said Jones, from Idridgehay in Derbyshire,“which has actually given me quite a lot of background in the sort of workI’m doing now, and I studied Rural Enterprise and Land Management atuniversity which has prepared me fully for the role.“I’m currently getting plenty of experience in estate management andgetting out to a lot of sites, meeting clients and making contacts, which Ilove. It’s a very varied job and I’m thoroughly enjoying it.”Pancholi goes back toRSMAccountancy firm RSM in Leicester has welcomed backrisk advisory partner Sheila Pancholi.Pancholi, who has spent the last two years at big fouraccountancy firm PwC, has returned to RSM to work in itstechnology risk assurance services team nationally, and bethe point of contact for IT assurance work with the RSMfirm in the US.Ben Lawrance, managing partner at RSM’s Leicesteroffice said: “It is fantastic to have Sheila back at RSMwhere she will lead and further develop the firm’stechnology risk assurance offering. She brings a great dealof experience in this rapidly growing area and I am sureshe will be an asset to the team both here in the midlandsand nationally.”Globetrotterjoins DevelopTrainingNottingham University graduate, MarkCocking, is the latest recruit for Derby-based national training firm DevelopTraining (DTL).Cocking, who joins the firm asmarketing executive, began hismarketing career in New Zealand, andhas also enjoyed stints working in boththe US and China, where he lectured inEnglish.In his new role, he will assist SteveBraund, marketing manager at DTL,which provides specialist training tomajor construction companies,utilities and facilities managers. Hewill be responsible for social media,market research and digitalmarketing.Cocking said: “I had a greattime working abroad and I’mlooking forward to applying theexperience I’ve gained fromthese different industries andcultures to my role at DTL andsupporting the company in itscontinued growth.”www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13APPOINTMENT NEWSHunt joins Bruton KnowlesNottingham-based property consultant Bruton Knowles has expanded its city centre team with theappointment of graduate surveyor Andrew Hunt.Hull joins Bruton Knowles after graduating from Nottingham Trent University last year with a degreein planning and developing.He said: “I was thrilled to hear I had been successful in my interview and couldn’t wait to startworking at Bruton Knowles. I’ve now been here just over a week and I am settling into the team verywell.“I will be working across a variety of schemes throughout Nottingham and Nottinghamshire,including overseeing our work with the NET tram service which is very exciting.”£6.1bn Emirates deal lands in Derby -rolls royce picRolls-Royce has announced that the engines that are part of a record £6.1bn deal will be built inDerby.When the Derby-based manufacturing giant secured the deal in April to supply EmiratesAirlines with engines for 50 double-decker Airbus A380 planes, it was believed that a majority ofthe assembly would take place at its engineering base in Singapore. However, this week thecompany confirmed that work on the Trent 900 engines would commence in Derby.Sir Tim Clark, Emirates Airline, president, said: “Rolls-Royce is a key partner for Emirates andwe have been impressed with its commitment to continual improvements in the economic andoperational performance of the Trent 900. These improvements have been decisive factors in ourselection of the product for 50 of our A380s. Today’s announcement is significant not onlybecause it cements the partnership between Emirates and Rolls-Royce, but also because of thesignificant economic impact that this will have on aviation manufacturing in the UK and Europe.”Rolls-Royce now has more than a 50 per cent share in all engines for A380 planes, and hassupplied Emirates since 1996.MANUFACTURING NEWSEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk14Roger Bullivant completes HQmoveCorporate law firm, Shulmans has completed the purchase for the RogerBullivant (RB) group of its new 22-acre site at Hearthcote Road inSwadlincote which will become its new UK Headquarters, Walton Park.The completion will see RB’s relocation from its existing head office inDrakelow near Burton on Trent before the end of the year with productionfollowing at a later date. The company has seven other specialist centresacross the UK.Site development plans include increased square footage of the existingoffice space and the creation of new manufacturing facilities to boostproduction of its precast concrete and house foundation systems.Simon Jackson, head of Shulmans’ commercial property team said: “Theacquisition is significant not only in retaining the site within a commutabledistance for the existing workforce, but also in the ability for RB to expandits current operation within South Derbyshire.”Gary Farnell, Roger Bullivant managing director, added: “Shulmans’ workwas highly professional, helping us secure our new Walton Park UKHeadquarters, and enabling the retention of our highly skilled workforce,thereby ensuring we continue operating successfully from a centrallylocated base in South Derbyshire.”CBI:Manufacturingstablises – butexports struggleManufacturing orders stabilised slightlycompared with last month, but exports areat their lowest for almost three years,according to the latest CBI monthlyIndustrial Trends Survey.The survey of 458 firms shows thatoutput also recovered, though anothersmall fall is expected in the coming threemonths.Meanwhile price expectations remainunder pressure, though they crept backcloser to their long-run average.Rain Newton-Smith, CBI director foreconomics, said: “Poor export performanceis weighing on the UK economy, asmanufacturers are held back by a strongpound and a weakening global growthoutlook.“To ensure UK manufacturers can pack apunch on the world stage, business willwant to see the Government prioritise areasof growth enhancing spending – on exports,infrastructure, skills and innovation – in nextweek’s Spending Review.“Furthermore, we would caution againstthe introduction of additional business coststhat could hamper the competitiveness ofUK manufacturers at home.”Pearce Signs pensglobal JV agreementNottingham-based Pearce Signs and a leading USsignage manufacturer have signed a joint ventureagreement that will see both companies form a a one-stop design, engineering, manufacturing and projectmanagement solution for businesses across the globe.Pearce Signs, which has over 200 years’ experiencein signage and branding, is collaborating withPhiladelphia Signs, one of the oldest and leadingbrand experts in the US, to form The InternationalSign Alliance (TISA).TISA boasts over 300 years’ combined experience,and over 2,000 staff operating in more than 50countries across six continents.“TISA is a single-source global partner, helpingcompanies save money, significant time and energywhile ensuring consistent interpretation andapplication of their corporate identity across theglobe,” said Peter Snaith of Pearce Signs.Pearce Signs was set up in 1791.Derby firm forms bond with 007 filmBritish engineering firm, SGS Engineering has collaborated with 007 by assisting with theproduction of the latest instalment of the iconic James Bond series, Spectre.The Derby-based company were approached by a set director from Pinewood studios,who was looking to source workshop equipment as part of a set dressing for the movie.SGS, who specialises in hydraulics and pneumatics, developing and manufacturing avariety of products from their Derby headquarters, provided the studio with: aircompressors, generators, air tools, trolley jacks and axle stands, which feature in Q’sworkshop in the film, and were also used to help with the maintenance of the vehicles usedin the film.Operations Coordinator at SGS, Jade Barker, said: “When the studio approached us, theywere keen to get a British company on board to help them out, there was no hesitation fromus to support the production team.“They asked for a variety ofproducts, many of whichwe’ve developed ourselvesin Derby, mainly for carsand use in workshops,which we were more thanwilling to provide for thenew film.“James Bond is a greatBritish icon, recognised allover the world, assomeone who’s grown upwatching the films, it made ita very exciting project, onethat everyone at SGS hasbeen extremely proud tobe a part of.”MANUFACTURING NEWSwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15Sapphire shines brightin AshbyRivet manufacturer Sapphire Products is set toleave its Birmingham home and relocate to Ashby.Sapphire is to have a 7,000 sq ft unit built onIvanhoe Business Park, which is owned anddeveloped by Clowes Developments. The deal wasbrokered by FHP.Sapphire joins 15 other occupiers on the site,including Fisher German, Woodward Vets, IncredibleKids Day Nursery, HSEC & DACS.COVER STORYEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk16Deals market: here to stayEast Midlands Business Link spoke to Stuart Sewell, director at KPMG and lead for the firm’sEast Midlands deal advisory practice, on the outlook for the deals market.Can the deals market really reachpre-recessionary heights again?“It depends what is meant by pre-recessionary heights – the years between2006 and 2008 were certainly boomyears but they were fuelled by what isnow seen as unsustainable debt lendingpositions, which we wouldn’t want to seeagain and I thankfully don’t think is likely.However, looking at the earlier 2000swhen the market was strong but stable,there are a lot more similarities, althoughthe differentiator is perhaps the currenthigher levels of global challenges. Thepast year has been very strong for KPMGand it looks like that will continue.”What is driving deals?“Deal levels in the East Midlands and inthe UK more widely have increased overthe past year, something which is beingdriven primarily by stability and certaintywithin the economy. The politicallandscape has added to that, with theGeneral Election resulting in a morecertain outcome than had been expected.“And while organic growth is stillchallenging for businesses, M&A is oftena much easier way to grow, especiallywith the amount of money currently inthe market, so we’re seeing a reallyrobust pipeline of M&A deals.“Behind that is a situation wherebusinesses have been being cautious fora long time, which has resulted incorporates with strong balance sheetsbecause they’ve been building up cashreserves and not utilising debt facilities.Plus, debt is cheap. It’s basically a reallyhealthy buying arena for those withmoney to spend.“On the sell side, we are seeingprivately ownedbusinesses within theEast Midlands marketthat have dug deepand weathered thestorm during therecession, andthey’ve survived ingood shape. Backthen they didn’t wantto realise valuebecause they didn’tknow what was around the corner, butnow in a stable environment, thoughts ofretirement, succession and generallymoving on to pastures new are bringing apotential sale to the forefront of anincreased number of business owners’minds.”Where is the money coming from?“It wouldn’t be inaccurate to say‘everywhere’. During the recession,businesses hung onto their money andtherefore significant amounts of unusedcash or non utilised debt facilities sat onbalance sheets, which now they are readyto spend. This is true both in the UK andoverseas, where we are seeing substantialinterest in strong UK businesses. Andthen there are the private investors whoare now in a position to choose how toinvest their cash, and for many it’s inbusinesses. For similar reasons, theprivate equity marketplace is strong withthose raising funds seeing strong demandallowing them to invest in a diversenumber of scenarios and helpmanagement teams meet their ambitions.”Which sectors are particularly active?“In the East Midlands we are seeingparticularly high levels of activity withinthe aerospace and automotive sectors,driven by the success of companies likeJLR and Rolls Royce, which is filteringdown to their supply chain.Unsurprisingly perhaps, we’re seeing alot of interest from overseas investors inthose kind of companies.“Food and drink is also an activemarket in the region, especially brandedfood and drink where there is adifferential between products. Andhealthcare is performing strongly in thedeals space too, but that is UK-widerather than a regional trend.”What does 2016 hold for thedealmaking community?“I would expect deal making activity toincrease further in 2016 - at KPMG, weare certainly seeing a very robust pipelinealready within the East Midlands. There’sa real confidence abounding and peopleare looking ahead – especially thoseconsidering their route to exit.“Although the rule is to never saynever, at the moment there doesn’t seemto be any significant threat to the dealsmarket. Short of severe issues within amajor economy, it looks like strengthwithin the deals market is here to stay.”On the sell side, we are seeingprivately owned businesses within theEast Midlands market that have dugdeep and weathered the storm duringthe recession, and they’ve survived ingood shapeCOVER STORYwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17AUTUMN STATEMENTEast Midlands Business Link www.eastmidlandsbusinesslink.co.uk18“As the first Budget of the newGovernment was only some fourmonths ago, we perhaps would havebeen naive to think that there would beany significant changes to taxationaffecting businesses or individuals. Thefirst Autumn Statement, given byGeorge Osborne as Chancellor of theConservative Government, focused onaspects of public sector spending andplans to achieve a budget surplus bythe end of its term of office. By 2019/20the budget surplus was targeted to be£10.1bn. In his speech, which was wellover an hour long, we were providedwith the government’s long termeconomic plan.There were only three specificannouncements in relation to taxation.Firstly, and perhaps the headlinegrabbing statement was the plan not tochange Tax Credits and the tapering ofreliefs. Secondly, was the introductionof higher rates of Stamp Duty Land Tax(SDLT) from 1st April 2016, anadditional 3% being levied onpurchases of residential properties,such as buy-to-let and second homes.Thirdly, were the changes to the timingof payments on account for CapitalGains Tax due on residential property,with the requirement from April 2019for such tax to be paid within 30 daysof completion of the disposal.To achieve his fiscal goals and toprovide for a strong economy, theChancellor is relying on generatingincreased tax revenue. With increasedtax receipts based on the improvedprofitability of businesses and a focuson targeting anti-avoidance andevasion, as well as addressing theissue of the diversion of profits bybusinesses owned or controlled byoverseas companies. This is along withproposals for making the UK a leaderin digital tax administration, with aview to simplifying process, reducingerrors and making it easier tocollect/pay tax that is due.Taxation aside, the Chancellor seeksto achieve his goals whilst at the sametime, being committed to infrastructureinvestment, health, education and thesecurity of the nation through reducingWhitehall’s public sector spending andreducing spending on welfare. It wouldseem most areas will see sustainedand in some cases increased fundingin real terms.For potential homeowners andhouse builders came details of a fivepoint plan, which through the use ofvarious instruments and funding, seeksto support the provision of morehomes and specifically the building ofsome 400,000 affordable homes by theend of the decade.In terms of more regional andlocalised support, it would seem,whether you are a part of the NorthernPowerhouse or the Midlands Engine,support has been pledged throughproposed devolution, the election ofmayors, the creation of new enterprisezones and investment in some majorinfrastructure projects.Finally with optimism around thestate of the economy and the state ofthe nation as we approach, or arealready in, retirement, the proposedincrease in the basic state pensionmust be welcome.As always the devil is in the detailand it will no doubt take time for theprofession and our counterparts todigest the announcements which arecontained in a 146 page TreasuryDocument ‘Spending Review andAutumn Statement 2015’. Thebalancing act seems though to bearound creating an environment wherebusinesses can thrive, our workforce iswell skilled, our public services meetthe needs and demands of users andare delivered within budget and that wepay our taxes in accordance with theprinciples and ethics of taxation. Wewait with baited breath theannouncements that will be made inthe Budget 2016.”There was more to theAutumn Statement thanthe u-turn on tax credits...James Pinchbeck, Marketing Partner for Streets Chartered Accountants, gives us his analysis of the Autumn Statement.JamesPinchbeckCOMMERCIAL PROPERTYwww.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19PHOTO: CROWN COPYRIGHTNext >