Bidders for mainline rail franchise to pledge 'Norwich in 90' service
The government has confirmed mainline trains will run between Norwich and London in 90 minutes as part of a boost to East Anglia’s rail network which will include modern trains, 180 extra services a week and improved journeys. Under the government’s Invitation to Tender for the East Anglia franchise, published today, bidders for the next franchise will be required to introduce at least two 90-minute services in each direction running between Norwich and London every weekday. It will also need to 'dramatically improve' the quality of trains running on East Anglia’s network' with extra points for bidders who trial new technologies in rolling stock. Free WiFi across the network, reductions on crowding and at least one extra 60-minute service per day in each direction between Ipswich and London are also assumed.
Rail Minister Claire Perry said: “For too long, passengers in East Anglia have not had the high-quality rail services that they deserve. Our ambitious requirements will change that by making journeys significantly better than they are now." Three train operators have been shortlisted for the franchise – an Abellio/Stagecoach jv; First Group; and National Express. The successful bidder will emerge next summer for a new nine-year franchise due to start from October 2016....Read more
Record grain exports through region’s ports
ABP’s ports of King’s Lynn and Ipswich handled record levels of grain exports in August, following heavy investment in facilities. A strong harvest saw more than 47400 tonnes for FennGrain and Openfield pass through King’s Lynn (photo, right) in August, beating the previous record by 715 tonnes. Handling speeds have doubled following investment. Meanwhile, in Ipswich, a record 119,548 tonnes of grain were exported through Ipswich Grain Terminal and Clarkson Port Services facilities. The increase in grain exports follows a £2.2m investment in the Orwell Bulk Terminal. Nidera UK operations director Tim Capey said: “Our expansion and investment continues at a rapid rate reflecting the importance of Ipswich Grain Terminal to the region’s farmers as a major facility for the export of grain.” The company is part way through a £1m investment programme.
ABP short sea ports director Andrew Harston said: “This impressive performance reaffirms both our commitment to the region and to delivering a high level of customer service. Our investment in the East Anglian ports is continuing to reap benefits.”
Firms confident on 2015 but concerns grow on the outlook beyond
The region’s economy is set to continue growing for the rest of this year according to two business surveys but confidence on the outlook beyond 2015 has dropped sharply, particularly among manufacturers and exporters. An optimism index compiled by BDO dropped to 101.9 from 103.3, the fifth monthly in a row as concerns mount about firms' their prospects. Manufacturers recorded their lowest level of confidence for three years. However, an output index rose to 104.5 from 104.4, suggest firms expect continued robust growth for the rest of 2015, driven by strong consumer spending. Meanwhile, the Lloyds Bank East of England business activity index suggested economic activity had risen on the back of strong inflows of new work in August. Lisa Clampin, partner and head of BDO in East Anglia, said: “While the expected continued economic growth is encouraging, falling business confidence suggests we’re approaching a turning point in the economy." ...Read more
Essex medical firm acquired by US group in £50m deal
Medical Innovations Group, an Essex-based manufacturer of innovative medical devices, has been acquired by US group Cantel Medical Corp in a £50 million plus deal. Founded in 1997, Medical Innovations has a turnover of around £20m and is based near Southend. It specialises in endoscope storage and reprocessing and has recently opened subsidiaries in the US and France. The acquisition will boost Cantel's position as a provider of infection prevention and control solutions in the gastrointestinal and endoscopy market. Mike Hughes, director at Grant Thornton’s Central and East of England corporate finance team, which advised the Essex-based company, said: “Medical Innovations is a fantastic business with a suite of great products and intellectual property. The Cantel business is an excellent fit commercially and culturally….” Earlier this month Grant Thornton advised on the acquisition of Stansted-based Zigma Ground Solutions by US company Checkers Industrial Safety Products.
New £8million Audi dealership planned in Ipswich
East Anglian car dealership, Marriott Motor Group has exchanged contracts on a four acre site at Futura Park in Ipswich where it plans to open a new £8 million Audi showroom and service centre. If planning is approved, work on the project should start in late Autumn. Paul Barnard, managing director of Marriott Motor Group, said: “This is an exciting project for us, and represents our largest ever property investment, in what will be the flagship site across our group of 12 dealerships. " Interest in Futura Park, which is being developed by AquiGen on the former Crane foundry site, remains strong, with a further four and half acres under offer, and negations under way for two 3 acre plots. Marshalls recently announced a £7m project to create a new Jaguar Land Rover dealership at the park.
See Profile Marriott Motor Group
Revival in demand for pubs as licensed premises
Roche Chartered Surveyors has completed the sale of four pubs: Kings PH in Norwich, The Mill Inn in Saxlingham Thorpe, Queens Head in Wymondham and The Forge in Aylsham - for its client Enterprise Inns. Three were sold to local investors who are looking to re-let the premises for pub or restaurant use. The Forge was sold to a local owner-occupier, keen to buy a freehouse. Graham Jones of Roche said: “It is encouraging to see that not only are freehold pubs still a popular proposition for investors and developers but also that a number are now being bought with the intention to re-open as licensed premises. This marks somewhat of a change, as up until recently the majority of the demand had been from developers seeking to convert or redevelop the pubs to other commercial uses or residential use. “
Shift from 'brawn to brains' in region's jobs bring benefits
Around one million jobs in East Anglia are at high risk of automation and a further 1.9 million jobs at medium and low risk although the automation of work is benefitting East Anglia, according to research by Deloitte. It says the proportion of high-risk jobs fell 9.3 per cent between 2001 and 2015, but low risk jobs grew 29 per cent and medium risk jobs grew 16 per cent with total net job creation of 306,000. Financial managers, property managers and environmental services managers lead growth in low risk jobs The high-risk, routine occupations that declined were typists and keyboard occupations (down 76 per cent) and tool makers (down 73 per cent). Nationally, Deloitte says that each new job in one of the fastest-growing lower-risk, occupations pays, on average, up to £10,000 more than the high-risk, routine job it replaces and are worth an estimated £11.2bn to East Anglia's economy over 15 years. Paul Schofield, Deloitte’s senior partner for East Anglia, said: “Our work shows the automation of jobs – and a shift from brawn to brains - is well underway in East Anglia, and we are benefitting not losing out. "
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Bury-based Rehabworks, which provides injury management and rehabilitation services has acquired Right Corecare, which trades as Right Management WorkplaceWellness. The deal is part of an ambitious growth plan and sees RehabWorks bring an employee assistance programme and corporate wellbeing provider to its business. The two businesses have previously worked together and will have a combined staff of 162 staff, with an hq remaining in Bury and centres spread from Glasgow to Southampton. Andy Holdcroft, CEO of RehabWorks, said: “This acquisition is a hugely exciting development for both businesses enabling us to build upon our respective strengths …”
Lovewell Blake has taken on 18 new accountancy, tax and business administration trainees.The group, 13 of whom will be studying as apprentices, will be based at the firm’s offices across the region in Gt Yarmouth, Lowestoft, Halesworth, Thetford, Norwich and Bury St Edmunds. Douglas Young, managing partner at Lovewell Blake, said: “We are confident that our 2015 intake will thrive in the industry and be inspired by their roles within Lovewell Blake.”
Experts from PEM Corporate Finance are hosting free morning business growth strategies seminar for local SME business owners (£1m-£100m turnover band). Speakers will be specialists in corporate finance, investment and tax. The event is being held with Barclays and Business Growth Fund and will provide business owners with practical ideas on how to develop a strategy for growth. “Any acquisition should have a sound strategy underpinning it,” said Lake Falconer, partner at PEM Corporate Finance and one of the speakers. “This should look not only at the why and how, but also at the long term implications – when will you see benefits? Will it make your business more attractive to buyers?” The talks will also look at using strategic growth to maximise the value of a business. The seminar will run from 8.30am to 12.30pm at The Trinity Centre in Cambridge on 22 October. Registration is free; for more details or to book go to www.pem.co.uk/corporate-finance/growth-cambs
Arnolds Keys and Carter Jonas have been appointed by Norfolk County Council to jointly promote and market Scottow Enterprise Park, formerly RAF Coltishall, for business and development uses. The 600-plus acre site was home to fighter aircraft in World War Two and, more recently, a Jaguar fighter squadron until 2006 when the base was de-commissioned and acquired by Norfolk County Council in January 2013.
North Norfolk-based Tidal Transit has agreed the first UK charter for the WaveCraft Umoe Firmus Surface Effect Ship, which it is operating alongside its existing fleet of offshore wind farm personnel transfer vessels. Statkraft has entered into an initial six month charter agreement, with a longer-term extension option, to use the WaveCraft to transport its O&M turbine technicians to its Sheringham Shoal Offshore Wind Farm field, off the coast of North Norfolk .
Two businesses are to trade from the site of Godfreys Deparment Store in Lowestoft which went into administration and closed recently. Godfreys IT, which also trades as Buyaparcel.com, has purchased the kitchen and bathroom section of the store and will trade as “Godfreys Kitchens & Bathrooms”. “Fireworks@Godfreys” will also operate from the store. Joint administrator Stuart Morton of Price Bailey, said: “We are also interested in talking to other interested parties about remaining space still available in the building including the popular cafe. Also, the freehold of the building is now on the market with Howards and Arnold Keys.”
A new history of a Cambridge college has been launched, written by one of its members and featuring many new photographs and drawings. A Classical Adventure: The Architectural History of Downing College, Cambridge comprises 200 pages in full-colour and has been produced by Tim Rawle, who has published the book through his new company The Oxbridge Portfolio. Commissioned by the Howard Foundation, it is the first book to set Downing College fully in the context of the history of Cambridge architecture and to tell the story of its buildings from the earliest plans through to the college of today. The book was unveiled at a party at Downing College last week. The Howard Foundation, a charitable trust and multiple benefactor to the college, was represented by Dr Alan Howard and his son Jon. Tim Rawle said: “In the story of English architecture, and the history of Cambridge University in particular, Downing College occupies a very special place…For the last two hundred years the college has been on an exciting classical adventure, fully committed to the defining style of its original buildings for all subsequent additions to its spacious site in the centre of Cambridge.” The book costs £30, and will soon be available in shops (ISBN: 978-0-9572867-4-0) or from www.oxbridgeportfolio.com
Photo: At the book’s launch of (l to r): Dr Alan Howard, Tim Rawle and Jon Howard
A party of ten UK agents who specialise in seeking out unusual venues for their clients, recently spent a day in Cambridge to see what the city has to offer for conferences and events. Conference Cambridge.co-hosted The Cambridge Experience with Trident Hospitality. The agents dined at at Robinson College in its new Crausaz Wordsworth building and accommodation before a day visiting The Møller Centre and Churchill College, with a punting tour on the River Cam with Scudamores; a walking tour with See Cambridge Differently; lunch at King’s College; visits to Gonville & Caius College and Peterhouse College, ending at the Doubletree by Hilton for afternoon tea. Kelly Vickers, manager at Conference Cambridge said: “ Everyone was very enthusiastic about the places we included on the programme and we hope the Agents have taken away lots of inspiration for their clients’ future events."
