< Previous10 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk FINANCE NEWS Commercial vehicle company secures £7.5m for fleet expansion An East Midlands commercial vehicle rental company has secured a £7.5m asset finance loan from HSBC UK to help purchase a new fleet of 200 trucks, as demand for vehicles in the supply chain soars. The investment will create 20 full-time jobs across the East Midlands. With operating depots in Leicester, Loughborough and Nottingham, Alltruck provides contract hire and rental vehicle services to over 250 SMEs across the UK. The company has used the funding to increase its fleet of commercial vehicles – which ranges from 3.5 tonne vans to 44 tonne tractor units – from 2,000 to 2,200 to help meet an increase in demand from its customers. As part of the company’s ‘Journey to Zero’ initiative, the new investment includes 10 fully-electric vans which will enable Alltruck and its customers to become more eco-friendly. As well as creating 20 new jobs, the company hopes its expanded vehicle capacity will increase annual turnover by 10 per cent. Paul Robinson, Managing Director of Alltruck, said: “We pride ourselves on having the trucks our customers need, when they need it – and it’s crucial we continue to support customers during this period of sustained pressure facing UK supply chains.” Simon Woods, relationship director East Midlands corporate banking, HSBC UK, said: “This deal gives Alltruck the funding to realise its own growth ambitions, which include becoming more eco-friendly as well as playing an important role in boosting supply chain capacity. We were pleased to support Paul and the team and look forward to working with them closely as they continue to grow the business.” Profit warnings of listed Midlands firms return to pre-pandemic levels The number of profit warnings issued by UK listed businesses based in the Midlands rose marginally in the third quarter of the year, to six (from five in Q2). Nationally, profit warnings rose to 51 in the third quarter of the year, up 19 from Q2 2021, as threats to growth and profitability increased, according to EY-Parthenon’s latest Profit Warnings report. The report reveals that whilst a post-pandemic demand surge boosted sales for many businesses over the summer months, it has also exposed vulnerabilities in supply chains and energy and labour markets, with 43% citing these pressures as the reason for their profits warning. Most warnings in the region came from Industrial FTSE sectors and a third (33%) of Midlands-based companies issuing a warning said that supply chain issues were hampering their business. Midlands listed business issued the joint second highest number of profit warnings, along with the South East (6), although significantly behind London (27). Nearly two-fifths (39%) of UK companies warning were also affected by the fallout of COVID-19 – down from 72% in the previous quarter. Whilst the direct impact of the pandemic is waning, the increase in supply and cost pressures, and the end of government furlough support, will add to the challenge – especially for sectors where demand hasn’t yet returned to pre-COVID-19 levels. Acquisitive firm snaps up majority stake in Notts furniture company Storskogen, the Swedish firm which acquires and manages profitable small and medium-sized enterprises, has snapped up a qualified majority stake in Julian Bowen Ltd. Julian Bowen is a Nottinghamshire-based e-commerce design and fulfilment specialist for home furniture, with annual revenue and EBIT of approximately £34.9m and £6.9m, respectively. Julian Bowen is Storskogen’s second acquisition in the UK and represents a major milestone in the group’s international expansion. Established in 1987, online retailers now comprise about 70 per cent of Julian Bowen’s sales, while the company offers a flexible fulfilment model to suit its wide range of customers that includes e-commerce, traditional bricks and mortar retailers, and contract furniture providers. Amazon, Wayfair, Dunelm and DFS can be found among Julian Bowens customer base. Julian Bowen has also amassed a wide range of international suppliers. Julian Bowen has a workforce of around 100 employees, while Managing Director Emmett Lenaghan and buying director Mark Pickup will remain in their existing senior roles within the company. “We are delighted that Storskogen have chosen to partner with us. Their support and expertise will be highly beneficial as we continue to deliver our ambitious plans for the company,” said Emmett Lenaghan, Managing Director of Julian Bowen. Julian Bowen will join the business area Trade headed by Christer Hansson. “Throughout our discussions, we have been immensely impressed with Julian Bowen, in particular their extensive e-commerce operations and capacity to innovate in partnership with customers and suppliers. Julian Bowen is an ideal partner for Storskogen, and we will continue to support the expansion of their flexible and dynamic customer offering,” said Christer Hansson, EVP and head of business area, Trade. Storskogen UK CEO Philip Lofgren believes the UK has an integral role to play in Storskogen’s international expansion plans, and Julian Bowen represents another step towards realising these objectives. “Julian Bowen represents our second investment in the UK following our acquisition of SGS Engineering in Q2 2021. Like SGS, Julian Bowen is exceptionally well positioned to benefit from the ongoing migration from bricks and mortar towards digital retail channels. We have extensive expertise in the B2B and B2C e-commerce space and are excited to partner with the existing Julian Bowen management team to develop these capabilities further,” said Philip Lofgren, CEO of Storskogen UK. Dan Hurd 06-15.qxp_Layout 1 03/11/2021 11:32 Page 5Cycling apparel business to create jobs following £500,000 funding package A Hinckley-headquartered cycling apparel manufacturer has secured a £500,000 investment to fuel expansion and strengthen its position in global markets. Velobici Ltd secured the funding from the Midlands Engine Investment Fund (MEIF) – managed by The FSE Group Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS). The company will use the funds to bolster its workforce over the next three years, creating seven full time jobs, six dedicated to the manufacturing side of the business and a new finance employee. Velobici manufactures and distributes high-end cycling apparel and accessories. It uses sustainably sourced fabrics and has an adaptable manufacturing strategy that helps limit excess production. The funding will also enable the company to increase stock levels to help meet demand from both UK and export markets. Velobici is also planning to move to larger premises, which will increase production capacity and allow the company to grow its distribution channels overseas. Alongside the larger premises, a new range of cycling apparel is being developed for Spring 2022. Chris Puttnam, founder and director of Velobici, said: “This funding has not only enabled us to maintain our workforce, but we are now back to full manufacturing strength, fulfilling current orders and scheduling new ones.” Ann Marie McFadyen, investment manager at The FSE Group, which manages the MEIF Debt Finance Fund, added: “Velobici has a highly experienced leadership team, all committed to ensuring the business becomes carbon-neutral by 2025. The sector is set to continue to expand, and it is great to see the business getting ready to move to a larger production site to fulfil the increase in orders. We look forward to joining Chris and his team at Velobici on the next stage of their journey.” Kevin Harris, chair of the Leicester and Leicestershire Enterprise Partnership, said: “Velobici is an innovative textile manufacturer whose products and designs are made right here in Leicestershire, keeping our historic heart of the UK textile industry very much alive. “I’m very pleased that they have secured this funding to enable them to expand their team and invest in the future of their business. It is essential that our local innovative and sustainable manufacturers get the support and funding they need to expand, so they can offer future jobs and opportunities for local people. This is exactly what the Midlands Engine Investment Fund was set up to do.” FINANCE NEWS www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 11 Regional disparities in funding access risk wasting economic potential Nearly half (46%) of all East Midlands businesses were using external finance in 2021, but economic potential is at risk of being wasted because of regional disparities in access to funding, reveals the British Business Bank’s first annual Regions and Nations Tracker. The report found London, the South East, the North West and the East of England accounted for 86% of equity investment and 69% of private debt investment despite hosting just 55% of UK businesses. By contrast, the East Midlands has accounted for just 2% of equity investments since 2011 and 6% of private debt activity in 2018 and 2019 whilst hosting 7% of the business population. The report also reveals that the region attracts the majority of its investors from London, with half (50%) of all equity stakes in East Midlands companies involving London-based investors. 15% of equity stakes in East Midlands companies come from local investors. Companies in Nottingham are involved in the most pairings (20%), with a few other smaller clusters centred around Northampton (10%) and Leicester (6%). Catherine Lewis La Torre, CEO of British Business Bank, said: “The lower flows of finance in certain regions and localities reflect a population of businesses operating with fewer choices. These gaps in growth finance are undoubtedly holding back ambitious entrepreneurs and lead to wasted economic potential. This is something the British Business Bank is committed to changing.” The Tracker details that the UK’s uneven distribution of growth finance is not driven by a lack of high growth potential businesses in areas, but by the presence of local investors. It shows that investors are far more likely to invest in businesses close to their office, with 82% of equity investment stakes involving companies and investors within two hours of each other and 61% within one hour of each other. The East Midlands, however, has the third highest proportion of investor-investee pairings outside the two hours travel time at 45%. The overall preference for short distance deals has not been impacted by the increase in remote working due to Covid-19, the data shows only a slight uptick in travel time in 2020. Dr Sophie Dale-Black © Shutterstock /baranq © Shutterstock /Jirapong Manustrong 06-15.qxp_Layout 1 03/11/2021 11:32 Page 6Manufacturing activity remains firm, but supply pressures mount UK manufacturing output volumes in the quarter to October grew at a similarly firm pace to September, according to the latest quarterly CBI Industrial Trends Survey. The survey of 263 manufacturers reported output increasing in 11 out of 17 sub-sectors, with growth driven by the chemicals, aerospace, and food, drink & tobacco sub-sectors. Firms expect output growth to pick up substantially in the next quarter. Total new orders grew at a slower, but still strong, pace compared to July, with the deceleration driven by an easing in domestic orders growth. Meanwhile, export orders increased at a broadly similar pace to last quarter. Manufacturers expect total new orders growth to pick up next quarter, led by an acceleration in domestic and export orders. Concerns about supply shortages in the next three months escalated further in October. Almost two-thirds of firms cited availability of materials/components as a factor likely to limit output next quarter (highest share since January 1975). Manufacturers also expressed heightened concerns about labour shortages affecting future output, with two-in-five firms worried about a lack of skilled labour (highest since July 1974) and nearly a third concerned about availability of other labour (a survey-record high). The manufacturing sector continues to face acute cost and price pressures. Firms reported that average costs growth in the quarter to October remained broadly in line with July, which saw the fastest growth since 1980. Rapid cost growth has continued to feed into price pressures, with average domestic and export prices growing at their fastest rate since April 1980 and April 2011, respectively. 12 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk MANUFACTURING NEWS £9m awarded for Nuclear Advanced Manufacturing Research Centre in Derby The D2N2 Local Enterprise Partnership (LEP) has awarded Derby City Council over £9m in funding – £6.875m from its Getting Building Fund and £2.2m from its Growing Places Fund – to support the development of a Nuclear Advanced Manufacturing Research Centre (Nuclear AMRC) at Infinity Park in Derby. The Nuclear AMRC Midlands research and development facility will provide c.4,300m2 of new floorspace dedicated to research and development, which will support productivity growth and sustainable practises within the manufacturing sector and help to position Derby and the wider D2N2 region as a key advanced manufacturing and innovation hub for the UK nuclear centre and beyond. Bringing together the University of Sheffield’s Nuclear AMRC and the University of Derby’s Institute for Innovation in Sustainable Manufacturing (IISE), the facility will carry out research, innovation, supply chain development and teaching with the purpose of developing the skills and capability of businesses in the region and nationally, to support the UK Government objectives for Net Zero by 2050 and growth in manufacturing from 11% GDP to 20% GDP by 2030. Locally, the facility will support local SMEs to improve their productivity by providing access to high quality research and development opportunities, tailored business support and opportunities to upskill their workforce, creating a broader and more resilient economic base. Workers will have access to specialist training and development to equip them for more productive and higher paid roles. The Nuclear AMRC Midlands will deliver 70 direct jobs, support 35 collaborative R&D projects and support 100 businesses through the Fit For Nuclear supply chain development programme in its first five years of operation. Fifty learners will be supported, with a further 50 employees upskilled. Elizabeth Fagan, chair of the D2N2 LEP Board, said: “Our recovery and growth strategy highlights the importance of low carbon growth and raising productivity levels across our region. Our investments into Infinity Park and the Nuclear AMRC will play a critical role to in developing clusters of highly productive and sustainable businesses across D2N2 and supporting local economic development.” © Shutterstock /Gorodenkoff APPEX programme to help Advanced Manufacturers reach new heights The Business Gateway is demonstrating its support for Leicestershire’s key sectors by creating a programme for innovative Advanced Manufacturing companies. Called APPEX, the course will help participating companies achieve Advanced Manufacturing Product and Process Excellence to help boost turnover. The programme is worth at least £5,000 but will be free of charge to the ten businesses that qualify to take part. APPEX helps businesses get a detailed understanding of their business capabilities, leadership team priorities and how to select, plan and execute a focussed improvement project with external support. It also gives them the chance to see and learn best practices from other non-competing Advanced Manufacturers on the programme. APPEX is available to manufacturers in several growing and innovative sectors including aerospace, pharmaceuticals, medical, transportation, construction equipment, low carbon, and power generation among others. To qualify to take part, companies need to have been trading for more than three years, have more than 50 employees, have an annual turnover of more than £4m and have a functional leadership team structure. They should also be manufacturing a product that is new to market or using innovative manufacturing processes. Dr Chris Owen, MD of Owen & Partners Ltd, who will be delivering the programme, said: “We’ve put together a really practical programme of support for Leicestershire’s Advanced Manufacturers. Companies will learn how to select and drive focussed improvement projects to boost their competitive positioning and productivity and win more orders. As part of the very first cohort of its kind, participating leaders will also become pioneers in building a community of innovative advanced manufacturing leaders to further boost the sector in Leicestershire.” Dr Chris Owen 06-15.qxp_Layout 1 03/11/2021 11:32 Page 7Initiative launched to recognise emerging talent in Midlands manufacturing BDO has launched its inaugural Future of Manufacturing initiative, designed to recognise emerging talent in a sector integral to the future prosperity of the Midlands. The accountancy and business advisory firm is calling for nominations of people under 40 who are making a real difference, not only to the business they work for but the regional marketplace as a whole. BDO is looking for young talent who currently work at a Midlands-based manufacturer (with a turnover of £10m-£300m) in a senior role. This is defined by (but not exclusive to) strong leadership skills, a minimum of five years’ industry and/or professional experience, advanced qualifications, leading or helping to drive significant projects or initiatives and notable contributions to the business and/or industry. Jon Gilpin, partner and head of manufacturing in the Midlands, said: “Talent is vital to the success of every business. Each and every day, we see examples of young people who are helping to drive the agenda and no more so than in the world of manufacturing – a sector that we are firmly committed to, thanks to the strength of our client base and the in-depth knowledge and expertise of our team.” He added: “Inspired by these stories, we want to uncover the future talent of Midlands manufacturing and gain a real understanding about how they see the market evolving in the next 10 years. This isn’t a report by numbers; this is an initiative centred around people and the very personalities that are driving change and helping the sector emerge stronger from the global pandemic.” The Future of Manufacturing aims to uncover how the market will evolve in the next decade through the lens of key people. Entries for the Future of Manufacturing close on 19 November 2021. www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 13 MANUFACTURING NEWS Northampton engineering firm secures £250,000 growth package Bowers Electrical Engineering Services Ltd (BEES) has secured £250,000 from Maven Capital Partners E&SE Midlands Debt Finance fund, through the Midlands Engine Investment Fund (MEIF) and backed by the Coronavirus Business Interruption Loan Scheme (CBILS). The Northampton company will be utilising the funding to purchase new materials and cover labour costs – enabling it to deliver two new contracts that the business has recently obtained and will create two new jobs as a result of the funding. BEES provides electrical engineering services through four key services offerings: validation of decontamination equipment, design and building of specific machinery, control and automation of electrical panels, and a customer part distribution service. The business provides their services to a range of clients within the medical, life sciences and engineering sectors, including the NHS, CIS and Miele Professional. Chris Bowers, Managing Director for Bowers Electrical Engineering Services Ltd, says: “Following this MEIF funding, we are now in a very strong working capital position, allowing us to spring forward and deliver the next level of our growth trajectory and tender for all sizes of Machine Control and Automation projects. Many thanks MEIF, Maven and Graham for your initial and ongoing support.’’ Graham Hall, investment manager for Maven, adds: “It’s great to be able to assist Chris with this important Growth Capital Loan to allow the firm to seize upon some great business development opportunities proactively sourced during lockdown. Many thanks also to Barclays which made the introduction upon Chris’s request, showing how the MEIF can bridge gaps for businesses seeking out funding opportunities.” Vicky Hlomuka, growth hub manager at SEMLEP, said: “Not only is the electrical engineering sector itself an important part of our local and national economy, but BEES also provides services to the NHS, and the engineering, medical and life science industries, whose value is seen more clearly now than ever. I’m delighted to hear that they have secured funding from the MEIF to help continue their growth journey.” © Shutterstock /ITTIGallery Jon Gilpin 06-15.qxp_Layout 1 03/11/2021 11:32 Page 8PROPERTY NEWS Construction starts on multi- million-pound Peak District hotel Construction company Harris CM has commenced a £5 million design and build contract for a new three storey, 60-bedroom, boutique-style hotel for GiGi Developments, on the site of the former Rising Sun Hotel in the village of Hope, which sits in the heart of the Peak District. The hotel, complete with restaurant and bar, will be operated by Bike & Boot and follows the company’s successful first venture opening in Scarborough. The completed hotel will target bikers, walkers and their canine companions and will open in the Summer of 2022. Jason Adlam, CEO at Harris CM, said: “We are delighted to be involved with this project which will see the re-development of the site of an eighteenth century coaching inn that closed its doors in March 2017. “We’re looking forward to once again working with AAD Architects, MAC Construction Consultants and Adept Civil and Structural Consulting Engineers to deliver this stunning project in the heart of the Peak District National Park.” Chris Green, of GiGi Developments, said: “Our team has worked hard to devise a scheme that is appropriate to its surroundings, but which will deliver much needed new hotel rooms in the Peak District, creating jobs and boosting the local economy. “With staying visitors spending an average five times more than day visitors, clearly encouraging overnight stays is crucial to the future of the Peak District. Importantly, new modern facilities like this also enhance accessibility to the Peak District by offering accommodation for all ages and interests, including older people and those with disabilities or mobility issues.” Planning consent granted for major performance venue in Derby Derby’s ambition to get a new entertainment and events venue has moved a step closer after detailed planning consent was granted by Derby City Council. At a meeting of the Derby City Council planning committee, councillors voted in favour of plans for the 3,500 capacity performance venue which will be located on the site of the former Pennine Hotel, Pink Coconut nightclub and Laurie House offices, subject to a change to a condition. The plans were submitted by Leeds-based developers St James Securities, who are delivering the wider £200 million Becketwell regeneration scheme. The performance venue, which will be delivered as part of phase two of the scheme, will be owned by Derby City Council and managed by ASM Global, the venue management and services company. The venue is expected to be a significant attraction for Derby, adding a much-needed new cultural venue. It will offer a much larger, more flexible space than the city has had in the past and will collaborate with and complement the activities of Derby Arena to provide the best possible events programme for Derby. The purpose-built venue will be a fully flexible, scalable space capable of staging a range of concerts, stand-up comedy, family shows, musical theatre, conferences, and exhibitions. The main auditorium will have a maximum capacity of 3,500 and offer a range of different event configurations including a fully seated layout for up to 2,100. Along with a busy concert and entertainment programme, the venue will also host a wide range of business events. It is anticipated the venue will host over 200 cultural and commercial events each year and attract an additional 250,000 visitors to Derby. It is also expected to create over 200 new local jobs, generate more than £10m per year for the area and increase levels of investment in surrounding areas of the city centre. Demolition work is set to commence in January 2022, with construction work on the performance venue set to commence in January 2023, with completion and handover to the operator in late 2024. 14 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk Plans revealed for new business park in Leicestershire Brackley Property Developments (BPD) has revealed plans to develop a new business park in Leicestershire. The commercial developer has submitted a reserved matters application to Harborough District Council for the first phase of development at Elm Business Park in Broughton Astley. The scheme proposes the development of industrial and warehouse units ranging in size from approximately 8,000 – 50,000 sq ft on a 17-acre site adjacent to Broughton Astley Golf Complex. Units will be available on a design and build basis, which will provide occupiers with the opportunity to tailor the size and specification to their requirements. The largest building which can be accommodated is c.120,000 sq ft, subject to layout. Elm Business Park lies on a prominent site off the B4114 Coventry Road, within six miles of the M1/M69 interchange. Outline planning consent was granted in December 2020 for a mix of uses including industrial, office, retail and leisure. Stephen Pedrick-Moyle, Managing Director of BPD, said: “We are expecting planning approval for phase one towards the end of the year but we are already engaging with occupiers to discuss potential requirements for the site. This is with a view to starting construction during the first quarter of 2022.” 06-15.qxp_Layout 1 03/11/2021 11:32 Page 9PROPERTY NEWS Work to commence on £35m Art & Design building Planning permission has been granted for a new state-of-the-art building to house the Nottingham School of Art & Design at Nottingham Trent University (NTU). The building, designed by architects Hawkins\Brown, will create a signature presence on the university’s city campus, and is part of an ambitious plan to build on NTU’s reputation as one of the world’s leading art and design schools. The new development will replace redundant buildings on the corner of Shakespeare Street and North Sherwood Street, exploiting views to and from the city whilst respecting the neighbouring heritage buildings. It will enable NTU to develop its creative industries offering by bringing new technologies for film, animation, UX design, gaming and graphic design and illustration together with traditional design practice. The building – which is 5,300 square metres – will feature a glazed ground floor entrance which will be used as an exhibition space, providing visitors with an exciting sense of arrival and offering opportunity for collaboration within the university, industry and the local community, through social open learning spaces. There will be dedicated spaces for visual communication, moving image and digital screen disciplines as well as a cafe, Digital Innovation Lab and Black Box Studio. The building will support NTU’s zero carbon commitment and has been designed with the aim of achieving BREEAM ‘Excellent’ and DEC ‘A’ ratings. A future aspiration, alongside the development, is to create a nearby green space for students, colleagues and the local community to enjoy as part of NTU’s commitment to greening the city and enhancing the biodiversity of the university environment. Industrial and retail development completes in Worksop The largest speculative development of this scale in Worksop has completed, delivering 46,000 sq ft of industrial and retail space at Vesuvius. Property development and investment company, CEG, appointed Harris CM to deliver the multi-million-pound scheme. Providing three flexible food and beverage units and 16 light industrial units ranging from 1,200 to 5,000 sq ft, subsequent phases will offer larger employment units including speculative as well as pre-let, design and build development. The first pre-let was secured to Burger King which opened August, a further nine units have now completed with additional strong interest in the site from a wide range of businesses. Lawrence Escott, investment manager from CEG, said: “The quality of this first phase has set a high benchmark for the site. The development makes Vesuvius the prime industrial and business location in Worksop. The largest speculative scheme of this scale and quality in Worksop for many years, it demonstrates CEG’s and occupiers commitment to the town. “We are also offering a wide variety of design and build space and have secured the first two deals with Nottinghamshire Fire and Rescue Service and Travis Perkins. With such a shortage of supply of well located, flexible accommodation we expect to announce more deals imminently.” Proposals unveiled for regeneration of former factory site The former Corah Factory site, located on Burleys Way in Leicester city centre, is set to benefit from a major regeneration as part of proposals unveiled by Cityregen Leicester and Galliford Try Investments. The proposals, developed with Maber Architects from their Leicester office, could potentially deliver over 1,000 new homes with associated retail and leisure, and significant new public realm on one of the city’s most prominent brownfield sites. The plans are also set to deliver a pedestrian bridge connecting the site to Abbey Park and creating an attractive new gateway link to the city centre. The former Corah Factory site sits within the St Margaret’s area of Leicester and has been identified as an opportunity for regeneration within the City Council’s adopted Core Strategy, forming part of the Strategic Regeneration Area. The site’s industrial history is to be retained and enhanced through the incorporation of key elements at the heart of the scheme, with the retention and enhancement of the principal façade of the oldest building on site, a renewed legacy for the 1865 Corah Green as new public realm and a new waterside park setting for the factory chimneys to the rear of the site. The regeneration will create new pedestrian routes and open the site up to the public for the first time. A spokesperson from the Corah team said: “Over many years this fantastic site has been brought from multiple ownerships back into single ownership so that it can be transformed and once again become an asset to the city.” www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 15 06-15.qxp_Layout 1 03/11/2021 11:33 Page 1016 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY Big times ahead 16-19.qxp_Layout 1 03/11/2021 11:37 Page 1www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 17 COMMERCIAL PROPERTY for property 18 Á With the economy set to slowly recover, the property market within the East Midlands is going to be leading the charge. Commercial property has always been reliable in the East Midlands, even in the midst of recessions and a pandemic, but coming out of both the region is set for a huge boom – particularly tanks to a new “master plan” that could create 84,000 jobs and add over £4 billion to the local economy. The project has been dubbed a “once in a lifetime opportunity” to map out the future for the area with plans afoot for major works including cycle pathways, green spaces, new schools, healthcare facilities, modern communities and affordable and carbon neutral homes. The vision will see coordinated development around Toton & Chetwynd, Ratcliffe-on-Soar Power Station and East Midlands Airport, with the aim of creating 84,000 jobs and adding £4.8bn to the value of the regional economy. Speaking about the Toton & Chetwynd proposals, Councillor Milan Radulovic, Leader of Broxtowe Borough Council, says: “The pandemic has made us all look at how resilient and connected the East Midlands is to the rest of the UK. We have a lot to offer this country and we think it’s about time our transport links and connections were evolved into something ready for the future. “The jobs, the business opportunities and the economic boost this new link will offer, is an exciting prospect and something to look forward to in 2021 and beyond. Whether you are a business owner, resident or frequent visitor, we want to hear what you think about our Masterplan, so please take part in this virtual consultation and share your views.” © Shutterstock /trabantos 16-19.qxp_Layout 1 03/11/2021 11:37 Page 218 East Midlands Business Link www.eastmidlandsbusinesslink.co.uk COMMERCIAL PROPERTY The Masterplan has been developed over the last four years with Nottinghamshire County Council, supported by Erewash Borough Council and Derbyshire County Council. Broxtowe Borough Council are now contacting Residents around Toton, Chilwell, Stapleford, Sandiacre and Long Eaton, as well as the surrounding areas, for their views on a Strategic Masterplan for the development of the area and the consultation will run from today until Monday, December 13th. Similar plans are also being considered in Derbyshire, where an online consultation has been launched to gather feedback on the future development of New Stanton Park, the 200-acre, rail connected site near Junction 25 of the M1 in Derbyshire. Verdant Regeneration purchased part of the former Stanton Ironworks site at the end of 2020. Since then it has been working with Erewash Borough Council and a wide range of stakeholders to draft proposals for the regeneration of the brownfield site off Lows Lane in Ilkeston, Derbyshire. It is now sharing the plans to gather feedback from the wider local community in an online consultation throughout October. A number of plans have been put forward as part of the consultation. The main benefits include the remediation and re-use of a large, brownfield site; the potential to provide up to 261,471 square metres of employment space; development of an estimated 4,000 new jobs. 16-19.qxp_Layout 1 03/11/2021 11:37 Page 3www.eastmidlandsbusinesslink.co.uk East Midlands Business Link 19 COMMERCIAL PROPERTY Meanwhile in Leicestershire, Brackley Property Developments (BPD) has revealed plans to develop a new business park. The commercial developer has submitted a reserved matters application to Harborough District Council for the first phase of development at Elm Business Park in Broughton Astley. The scheme proposes the development of industrial and warehouse units ranging in size from approximately 8,000 – 50,000 sq ft on a 17-acre site adjacent to Broughton Astley Golf Complex. Units will be available on a design and build basis, which will provide occupiers with the opportunity to tailor the size and specification to their requirements. The largest building which can be accommodated is c.120,000 sq ft, subject to layout. Straddling the spine of the country, the East Midlands has always been a gateway between the north and the south, and this has made it a particularly good development hotspot for logistics, particularly warehouses. With a shortage of Grade-A warehouse space gripping the country (despite also a shortage of HGV drivers) this has only become more pressing. Proving this, a substantial warehouse complex at Darwin Road in Corby, Northamptonshire has been acquired by a global investment and asset management company. The site comprises five modern units of 263,586 sq ft which are predominately let to Rhenus Logistics, one of the UK’s leading freight forwarding companies with specialities including transporting groupage freight, express consignments, hazardous goods and providing warehouse services. Acting on behalf of Longmead Capital, commercial property agent Prop-Search sold the investment for £21,000,000. The purchaser was represented by CBRE. 16-19.qxp_Layout 1 03/11/2021 11:37 Page 4Next >