< PreviousCentral Joinery on next steps to growth withAllied Irish Bank (GB)An East Midlands-based staircase manufacturer has partnered with AlliedIrish Bank (GB) (AIB (GB)) as it takes its next steps to growth.Founded by Neil Bark with two employees in 1993, Central Joinery ofSwadlincote now has over 50 staff, a multi-million pound annual turnoverand operates from a 22,000 sq ft state-of-the-art production facility atCadley Hill Industrial Estate. Working with some of the country’s leadinghouse builders and merchants, Central Joinery has received several NHBCCertification and preferred supplier awards for its extensive range of bothtraditional and contemporary staircases.Dale Cowdell, Relationship Manager at AIB (GB) in Nottingham, said: “Neiland his management team have gained a fantastic reputation in the industryfor combining innovative manufacturing processes with traditional skills,building a very successful business as a result. Design, quality andcraftsmanship are core competencies at Central Joinery, as is the company’sdedication to developing strong relationships and its ethos of achievingtotal customer satisfaction. We’re looking forward very much to workingwith Neil and his team in the years ahead.”Neil Bark said: “Central Joinery has grown steadily since our inception in1993 by focusing on customer service and adapting to changing market conditions and trends. The future is looking very positive with governmenttargets for new build volumes increasing and having a pro-active bank such as AIB (GB) in our arsenal to help us develop our future vision is veryimportant to our business. We are excited about our next stage of development.”East Midlands Business Link www.eastmidlandsbusinesslink.co.uk10Loughborough University scoops partof a £13.4m initiative to steer the nextgeneration of automated vehiclesLoughborough University is to share part of a £13.4m initiative to develop a research programme enablingconnected and autonomous vehicles.The initiative is to create a driverless transport testing area based in the Royal Borough of Greenwich and nearbyQueen Elizabeth Olympic Park in London is due to be up and running by spring 2019.The Smart Mobility Living Lab: London will enable companies to trial their ideas, technology and services withincomplex public environments, to help them develop new vehicle systems and big city transport applications.Professor Pete Thomas, of the Design School, who is leading Loughborough’s involvement, said: “This is an excitingventure to be a part of and will place Loughborough and Loughborough London at the heart of a world leadingresearch and development facility for connected and autonomous vehicles.“The award of the £13.4 million to the Living Lab consortium provides a fantastic opportunity for Loughborough tofocus its research around this rapidly developing new socio-technical area.“Intelligent Mobility will have a major impact on future transport and this test bed will enable the University in Loughborough and in London tobe at the forefront of new developments.”The project partners, led by TRL, also include Transport for London, Costain, Cisco, Cubic, DG Cities and the London Legacy DevelopmentCorporation.DEALSStress test ‘pass’ headline maskssome key factsCommenting on the Bank of England Stress test, Rob Smith, Banking Partner, KPMG UK says: “UKbanks are robustly capitalised and as a result none of them this year needed to resubmit their capitalplans.“However, the ‘pass’ headline masks the fact that six out of the seven banks experienced higherlosses than last year and regulatory capital buffers need to be increased reducing some of the excesscapital in the system.“The risks surrounding consumer credit really comes to light in these results. Over half theimpairment losses come from consumer credit. Higher interest rates provide a £23bn boost to bankrevenues which will ultimately be borne by the man and woman on the street through higher paymentson mortgages and credit cards.“For investors and bank staff there are some important headline figures. Under the stress, dividendsdiminish with £26bn held back in the first two years, this is a significantly bigger cut than we saw lastyear. Looking at remuneration it’s a similar picture, with banks forecasting a material reduction in theirvariable remuneration from £9bn over 2017-2018 to £0.5bn under the stress scenario.”Rob Smith,Banking Partner,KPMG UK11www.eastmidlandsbusinesslink.co.uk East Midlands Business Link Double digit profitgrowth at BDOAccountancygiant BDO hasposted an increasein revenues anddouble digit profitgrowth in its UKannual results.The firm, whichhas had fiveconsecutive years ofgrowth, reportsunderlying revenuesof £428m – anincrease of 5.7%compared to£405m last year.BDO profitsincreased by 11% to£87.6m. Thisresulted in averageprofits per equitypartner (PEP) growing 22% to £454,000.The firm said Brexit jitters had not impacted client M&A activity, with itscorporate finance team reporting a high level of deal activity with acombined value of almost £6bn.For the sixth year running, BDO has been the leading reporting accountantfor AIM IPOs. It also reported impressive work with the private equitycommunity, with a 30% increase in deal activity.Linecross Group invests £3.1m inplant and equipmentLinecross Group, the Rutland based manufacturer of vacuum-formed thermoplastic,polyurethane and injection moulded components, has invested £3.1m in new plant and equipment.The firm has bought three of the latest vacuum forming machines, one of which will bededicated to twin sheet forming. A waterjet trimming centre has also been relocated from theLinecross Cannock site to form part of a manufacturing cell for a large new automotiveprogramme.Linecross Group, Chairman David Austin said: “Linecross has been at the forefront ofadvancements in the industry for 50 years and has established long-term partnerships with manyiconic British manufacturers, including Lotus, Bentley and JCB – all leaders in their respectivefields.“Our latest investment in infrastructure and technology at our Rutland headquarters demonstrates our commitment to remaining at the forefrontof new plastic and composite materials and technology.”The company now employs more than 300 staff across its two facilities in Cannock and Rutland. Group turnover topped the £27m in the lastfinancial year and is expected to exceed £30m next year.LEPs the big winner asgovernment unveilsIndustrial StrategyThe Business Secretary Greg Clark’s long-awaited IndustrialStrategy – which sets out a long term plan to boost theproductivity and earning power of people and businesses –has been welcomed by local business leaders.The Strategy, aligned to the Midlands Engine Strategypublished in March, sets out the government’s plans toincrease economic growth and improve quality of life acrossthe whole of the Midlands.Business Secretary Greg Clark said: “The Midlands is hometo some of our most iconic and productive businesses,including Jaguar Land Rover and Rolls Royce, as well as worldclass supply chain companies and some of our bestinnovation clusters in advanced manufacturing, life sciences,cyber security, agri-food and many others.“Through our modern Industrial Strategy we will work withthe Mayor and the Midlands Engine Partnership to build onthese extraordinary local strengths, creating newopportunities and jobs.“The Midlands is vital to the UK economy and this strategy,through investment in infrastructure, skills, 5G connectivityand clean growth technologies, we will build an economy fitfor the future.”Meanwhile, Nick Pulley, Chair of the Leicester andLeicestershire Enterprise Partnership (LLEP), said: “We aredelighted that the Government remains firmly committed toLocal Enterprise Partnerships (LEPs), and has confidence inour ability to set clearly defined activities and objectives forour area’s economic success.“From next year, the Prime Minister will chair a biannual‘Council of Local Enterprise Partnership Chairs’. This willprovide an opportunity for LEP leaders to inform nationalpolicy decisions.”Nick Pulley, Chair of theLeicester andLeicestershire EnterprisePartnership (LLEP)© shutterstock.com/ igor.stevanovicSowden gives new lease oflife to Melton Mowbrayhunting lodgeA derelict 19th century Melton Mowbray hunting lodge has been given a newlease of life by property developer Sowden.Wyndham Lodge, which dates back to the 1840s, is being completelyrestored by the Leicester-based firm and converted to accommodate nineluxury apartments.The restoration project of the Grade II listed building has involved replacingall the wood in the lodge as well as constructing a new central staircase, floors,and windows.A hunting lodge has stood on the Ankle Hill site close to Melton centre since1760.It was renamed Wyndham Lodge in 1840 by the governor of the Tower of London, Colonel CharlesWyndham, who moved there to indulge his passion for foxhunting.In 1870 it was bought by a William Chaplin who had it completely remodelled in local stone.In 1920 it was bought by Colonel Richard Dalgleish who donated it to the town of Melton for use as a hospital.It was christened the War Memorial Hospital in honour of the dead of the Great War, and used continuously as a hospital until it was abandoned in 2002.Sowden’s Managing Director Roy Coley says the restoration of the derelict lodge has been a huge project.He says: “It was a big project which got bigger the more we went into it. The woodwork had dry rot, so that has been completely replaced, alongwith the floors, window frames and the central staircase.East Midlands Business Link www.eastmidlandsbusinesslink.co.uk12PROPERTY NEWSMajor development at Science Park a step closerJobs could be created, as Nottingham City Council’s executive has given the go-ahead toreceive funding to develop a 35,197 sq ft building at Nottingham Science Park.It would be used for research and development office space, as well as conferences, andwould be funded through a combination of council borrowing and Building Foundations forGrowth grant available through the D2N2 Local Enterprise Partnership.A council document published ahead of the executive meeting said: “The developmentof a new building at Nottingham Science Park in unviable without grant funding.“Building No.2 is now at developed design stage and will be submitted for planningpermission following executive board approval.“The project needs to be funded through council resources with any viability gaps beingmet by the grant.”A planning application will now be submitted to the council for consideration.The park is a long-established research and development site between NottinghamUniversity and the Boots Campus.Plans in for £58m flagshipcity centre campusA planning application has been submitted by Nottingham College for thedevelopment of its new £58m flagship city centre campus.The development of the new 166,603 sq ft City Hub on Canal Street, has thebacking of the City Council and the D2N2 LEP and will be designed by BondBryan Architects.It is hoped work will start on site in June 2018, and will be ready to open tostudents and around 250 staff in September 2020.The City Hub forms part of the £250m Southern Gateway regenerationscheme, spearheaded by Nottingham City Council involving the redevelopmentof the intu Broadmarsh Centre, the rebuild of the Broadmarsh bus station and carpark, as well as the remodelling of road and pedestrian routes in the area.The new campus will provide college and community facilities, together with anew business hub.Matt Hutton, Chief Architect on the project from Bond Bryan, said: “As anarchitect, it’s important to capture and understand the heritage of a particularsite and having grown up in Nottingham, I’m familiar with the stories ofBroadmarsh and Narrow Marsh.“The opportunity to transform an area that was once synonymous withpoverty and limited life chances into a centre that will help unlock the potential oftens of thousands of young people in the coming years, is a very rewardingprospect.”|Kier Living has been selected to work on the next phase of building at alandmark regeneration site in the north of Leicester.Leicester City Council has selected Kier Living as its development partner forthe next parcel of housing development at Ashton Green – a major projectinvolving creating a mixed-used community of up to 3,000 new homes, alongwith community and health facilities, employment land and retail.Kier Living will deliver around 300 family homes, including affordable housing,from early 2019.The city council has agreed to sell to Kier a 37-acre site off Bevan Road, on theeastern edge of the scheme between Beaumont Leys and Thurcaston, which willprovide an important gateway into later phases of development.The proposals include a range of high-quality contemporary two to five-bedroomed homes, designed to meet the environmental standards required forAshton Green as a sustainable development. The development will also include about 13acres of open space provision, sustainable drainage solutions and protected wildlifecorridors.Kier’s involvement in the scheme comes as the first new homes in the Ashton Green site,built by developer Morris Homes, near completion. The new development partnership withKier is a further milestone in bringing forward land for high-quality new homes.Leicester City Mayor Peter Soulsby said: “I very much look forward to working with KierLiving on this next phase of development at Ashton Green.”£140mNorthantsmasterplansigned offWork on the £140m phase 2 leisuredevelopment proposed for the Rushden LakesMasterplan in the Nene Valley, is scheduled tostart, following the go-ahead by the Secretaryof State.The development has been designed by TheHarris Partnership, along with developer LXBProperties for The Crown Estate, and includes a14 screen cinema and restaurants, alongside the380,000 sq ft of retail units anchored by M&S,House of Fraser and Primark, which openedearlier this year.The Masterplan covers 30 acres of a 244 acre site on the edge of the A45, and has opened up access to the systemof Rushden Lakes.Initially The Harris Partnership were brought in to advance the design for the Leisure Building and Terrace D, and tomaintain its sensitive integration within the local environment. The firm has since increased its involvement in variousfuture phases, which will include the Garden Square and Link Road masterplan proposals for the Rushden Lakes site.Avant Homes £9.8mscheme will bring 166new homes to CoalvilleMidlands homebuilder Avant Homes has acquired a 17.8-acre site in Coalville to build a £9.8m development of 166new homes, as part of continued investment in the region.The developer has been granted outline planningpermission for its Collingsgate development, which islocated off Greenhill Road.The proposed new homes will be a mixture ofinnovatively designed homes including two, three andfour-bedroom semi-detached and detached houses, allcomplete with the housebuilder’s new interiorspecification.The homebuilder also plans to deliver a tree-linedmain entrance and spine road which will retainexisting dry stone feature walls at many locationsthroughout the development.Avant Homes Midlands managing director, GlynMabey, said: “We are pleased to have beengranted outline planning permission for 166new homes in Coalville and we are keen toshare our detailed plans with house buyersin the area.”www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 © shutterstock / RossHelen Kier Living chosen tobuild at landmarkregeneration site in thenorth of LeicesterGlyn Mabey© www.pauldadviddrabble 14East Midlands Business Link www.eastmidlandsbusinesslink.co.ukCOMMERCIAL PROPERTY© Shutterstock / Jacob Lund The new age of business is dawning, with 3Dtechnology, the Internet of Things and artificialintelligence all touted to have massive benefits onthe corporate world as we know it. As well as thepromised boost to efficiency, these technologies arealso on a plotted course to improve safety,satisfaction and outlooks for workers. But there’sone solution that tends to get forgotten about whenconsidering these factors – namely, the workplaceitself. Workers should be at the heart of anorganisation’s operations, and prioritising thoseworkers means providing a suitable workplace. Noemployer wants a workforce made up of people whofeel underappreciated, unfulfilled and who countdown the seconds until they can clock off. Yetcreating an inviting and open workplace culture canprove vexing for company heads looking to motivatestaff. Working from the ground up is a fittingsolution and designing a workplace around theneeds of the people that inhabit it is a sure-fire wayto involve staff. Our commercial property pages explore themarket from all manner of angles every month, fromThemodernofficeThemodernofficeSelecting the right office,building or environment canhave major impacts on workerwellbeing. East MidlandsBusiness Link explores therelationship between officespace and employee health.www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 15COMMERCIAL PROPERTYpicking apart the financial fallout of Brexit, toexploring some of the key deals across our region.Of late, the emphasis has been on the digital boom,with the rise in tech companies and ecommerceacross the East Midlands. Nottingham, in particular,with its video game companies and digital agencies,is a major presence in this regard. Part of thisevolution has seen companies thinking outside thebox when it comes to their workplaces. Manycompanies are doing away with the traditional officesetting of a sales floor and orbiting offices andembracing something a little more disruptive. Perhaps inspired by the folks over at Google – ormyriad other Silicon Valley giants, for that matter –today’s offices are prioritising health, wellbeing andsatisfaction. In order to create such a space, acompany must first find the right building, businesspark or office block, with all manner of pitfalls toavoid. One of the most common complaints, thoughadmittedly one which is rarely discussed, is sickbuilding syndrome. Simply put, this describes aphenomenon in which the air quality, light16 Á16East Midlands Business Link www.eastmidlandsbusinesslink.co.ukCOMMERCIAL PROPERTYdistribution or any other factors of abuilding are affecting the health andwellbeing of those inside. Olderbuildings can be some of the worstoffenders here, but regenerationschemes and refurbishments across ourregion have helped ensure that listedbuildings and prised working placesremain up-to-date with the wants andneeds of the modern business. Contemporary offices and businessparks are typified by their vast andnumerous windows. Not only does thisallow more natural light into a buildingand curtail the use of electric lights, butprovides a massive health benefit toworkers. This time of year, seasonalaffective disorder is especially rife, so© Shutterstock / Monkey Business Images www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 17COMMERCIAL PROPERTYcutting workers off from natural light canbe detrimental to mental and physicalhealth. Mental health no longer has thestigma it once had, and bosses are moreunderstanding of these unseenaddictions that staff might be sufferingwith. It’s in the boardroom’s bestinterest to ensure staff remain healthy,and part of the battle lies in the buildingin which they inhabit. More and more workplaces areproviding cycling initiatives andinfrastructure, including facilities to lockup bikes, both indoor and out. It’s notuncommon for an office to have ashower so workers who decide to cyclein can freshen up before they sit downat their desk. Although games roomsand relaxation spaces have becomemore popular options to help staffunwind and relax – a kind of home awayfrom home – exercise spaces areequally as important. Though the boonto worker health and wellbeing is abenefit unto itself, the knock-on effect toproductivity and efficiency will bewelcomed. A happy worker is aproductive worker, as the adage goes,so ensuring staff have the means of theirown happiness at their disposal will helpto ensure a productive workplace. Though the skills gap is a complexand multi-faceted issue, one of the keycauses is a failure to entice the youngergeneration into vacant or soon-to-bevacant roles. Part of appealing tomillennials is about appealing to theirsensibilities and lifestyles. This is thegeneration that wants flexible working;that has largely cast aside the 9-to-5 infavour of a work life they can weavearound family, friends and their sociallives. This too is the generation that hasbid farewell to the traditional office, sothat environment will feel like a stepback for younger workers. But there willalways be a place for the officeenvironment; it just needs to evolve intoa space that better serves workers andtheir needs. The commercial property market isresponsive to the changing economictide, but also reflects the evolving needsof businesses and their staff. Newbuilds, refurbishments and officerebuilds are increasingly emphasisingworker health and wellbeing and theassociated benefits that brings tobusinesses. Though this can be assimple as providing workers with spacesto unwind, factoring natural light into thebuild, and a move away from beiges andgreys to a more vibrant colour scheme,the rewards to businesses can be richindeed. © Shutterstock / dotshock AUTUMN STATEMENTInitial post Budget comment seems tohave focused on the abolition of stampduty land tax for first time buyers onhomes up to £300,000. Whilst undoubtedlythis is more than welcome for thoselooking to get on the property ladder, will itmake buying your first home moreachievable? Perhaps not – why? For most,the challenge seems to be more about theability to earn enough to service amortgage rather than to buy a property.Therein lies the message to take away fromthe first Budget since the general election.We did however hear from theChancellor a vision for a vibrant anddynamic world class Britain post Brexit, aneconomy which leads in terms ofinnovation, productivity and skills and thatis a great place to live and work. It istherefore not surprising to have heardannouncements that included a widening ofthe tax relief for businesses in terms ofresearch and development (R&D), alongwith increased scope for investment indigital and technology through use of theEnterprise Investment Scheme (EIS).Certainly for the workforce of the futurethere was a vision for a highly skilled andhighly paid workforce. To achieve thisthough may require greater investment interms of addressing the skills gap in ourworkforce, whether it is for those leavingschool and entering tertiary education or anaging workforce that needs to re-train.Even pre Brexit, the UK with an agingpopulation and increasing job vacancies,AutumnStatementStreets Chartered Accountants on the Autumn Statement: An English man’s home is his castleJames Pinchbeck,Marketing Partner StreetsChartered Accountants18East Midlands Business Link www.eastmidlandsbusinesslink.co.ukAUTUMN STATEMENTwas experiencing workforce shortages.Post Brexit it seems addressing or fillingthe gap has become even morechallenging. Whilst incentives andsupport in terms of developing andusing new labour saving or replacingtechnologies may help address thisissue in part, more needs to be done toensure we are training and developingthe workforce of the future. Ideally anapproach which focuses more onincreasing the value workers generateand therefore the earning they receive –a move which could help to ensuremore people can afford to buy their firsthouse.The good news for many must be thecontinued freeze of the fuel taxescalator and the excise on perhapsyour favour tipple as we approachChristmas. For the vast number ofdiesel powered car drivers though therewas a shot across the bows with anincrease in vehicle excise duty aimed atencouraging us to move to moreenvironmentally friendly vehicles.For house builders, the Chancellor’sefforts to address the barriers tobuilding enough houses each year mustbe welcome, whilst funding and publicsector spending is helping this to comeabout, realising the vision of building300,000 houses a year by 2020 mightbe a big ask.Whilst perhaps a bit of non news, theaccountancy profession welcomes thedeferral of the intent to look at the VATthreshold. With Making Tax Digital(MTD) for VAT purposes coming intoeffect in April 2019, it seems more thantimely to leave any thoughts of lookingat VAT thresholds until then.In terms of public spending we surelymust welcome any increase inspending for our NHS, andinfrastructure projects which benefitother areas of the country and not justLondon and the South East.Should we have expected more fromthe Chancellor? Perhaps not, he seemsto have been consistent with hismessage and direction of travel, re-affirming the steady and sustainedcourse of action for ensuring theeconomic stability and sustainability forthe UK.Streets Chartered Accountants is atop 40 UK accountancy firm.Telephone 0845 8800320, email info@streetsweb.co.uk orvisit www.streetsweb.co.uk© Shutterstock / Sovastock www.eastmidlandsbusinesslink.co.ukEast Midlands Business Link 19Next >