Saturday 20th October 2018
Home Weekly Business<br />E-newsletter ebusiness weekly news 24/08/2018

Work starts on new A14 business park after loan funding approved

Construction has started at Atex Business Park, a brownfield development in Stowmarket close to the A14, after New Anglia LEP approved new loan funding of £630,000 for the scheme from its growing places fund. The development on Gun Cotton Way will involve 37 small business units in six buildings linked by a new road and utilities. The first phase of the project is due to complete next year with the opening of 10 units and when complete, the park could provide up to 100 jobs. Referring to the loan, David Elder, managing director of Atex Developments, said: “…. Without their help this development would not have got off the ground because so much of the infrastructure needs to be in place."

Doug Field, chair of New Anglia LEP, said: “This is exactly the type of project the Growing Places Fund was designed for – helping a development get off the ground so that it can grow and contribute to the success of our economy.”

Large Ipswich warehouse space let to parcel delivery group

In the largest warehouse letting in Ipswich to date, the last remaining industrial unit on Martlesham Heath Business Park in Ipswich has been let to DPD Group UK, an international parcel delivery firm. It has agreed a new five-year lease for 32,986 sq ft of space and will occupy Unit One Beardmore.  Phil Dennis, director in the business space team at Savills Chelmsford, said: “Martlesham Heath Business Park remains incredibly popular with businesses, providing high quality business accommodation in an established out of town location. Despite limited availability, with over 100 units on the site there is a steady churn of occupiers and we continue to receive significant interest from companies looking to relocate to the park.” Redwood (Light Industrial) Propco SARL let the space advised jointly by Savills and Elsom Spettigue Associates.

Major office letting in Ipswich town centre

Business insurance group Pound Gates has taken a lease on most of the ground floor at Hyde Park House on the edge of the town centre in one of the largest office deals in Ipswich in recent years. Pound Gates will move its head office from St Vincent House into Hyde Park House when work on fitting the offices has been completed later this year. Hyde Park House is a purpose-built office set over three floors on the junction of Crown Street and High Street and has recently seen extensive renovation work to its reception and communal areas. FI Real Estate Management secured the tenancy. Kevin Collins, Pound Gates owner and managing director, said: “With us celebrating our 30th year in business it is exciting that we can look forward to the next chapter from our new base.” Joint letting agents on the deal were Savills and Fenn Wright.

New £12 million leisure park completed at Stanway

Construction of the new £12m Stane Leisure Park in Stanway has been completed and the occupiers have begun fitout works ahead of a public opening in coming weeks. The Churchmanor Estates Company plc, the developer, started work on the scheme in March 2017 after a successful appeal against the council’s refusal to grant planning permission for the project, which will create 260 jobs. Restaurants including Nandos, Bella Italia, Starbucks and KFC are on the development and Churchmanor has invested £350,000 to widen London Road at its junction with the Western Bypass. Stephen Clark for Churchmanor said: “We have taken great care over the design layout and landscaping within the scheme and we are pleased to be able to bring these much needed facilities to the residents of Stanway.” Rose Builders was the contractor on the scheme, which also involves over 100 new trees. Plans for Stane Retail Park, the rest of the site, are being considered by Colchester Borough Council Planning Committee this week with council officers recommending approval. If approved, it would involve a B&Q, Aldi and M&S Food Hall, other retailers and £2.5 million of highway improvements.

Briefly…

Buyout completed at wealth management firm

Stephen Girling, managing director of SG Wealth Managment - which has offices in Ipswich and Norwich- has completed a buyout of the business he founded almost 18 years ago with co-director Neil Shillito. The firm, which employs 35 staff across both locations and has a client base covering East Anglia and beyond, also has a corporate services division which deals with business to business relationships. With Neil Shillito reaching retirement age, Stephen Girling has made a privately-funded buyout and becomes a majority shareholder, taking full control of the business. Adnams CEO Andy Wood remains SGWM's chairman.  Stephen Girling (photo, right), said: “Neil and I have grown the business successfully together over many years and the time was right for me to fully take the helm. This now gives me the opportunity to invest in new technologies, increase our efficiencies and enjoy building the company further."

New £3.5 million asphalt plant for A14 road widening

Aggregate Industries has opened a new £3.5m asphalt plant in Godmanchester to supply the A14 Cambridge to Huntingdon widening scheme, currently England’s largest road project. The scheme involves upgrading 13 miles of road in each direction and the new state-of-the-art facility can produce 240 tonnes of asphalt an hour. Aggregate Industries won a contract for the surfacing works from the A14 Integrated Delivery Team, a joint venture between Costain, Skanska, Balfour Beatty and designers Atkins/CH2M, which is working for Highways England to deliver the £1.5 billion scheme. Chris Hudson, managing director of asphalt and readymix at Aggregate Industries, said: “As sole supplier for England’s largest and most prestigious road improvement project, our aim on this contract is to collaboratively deliver the works as efficiently and cost-effectively as possible, whilst reducing the impact of operations on the local community and the road network.”

Childcare business acquired

Nurseries, an Ipswich-childcare business has acquired Bells Day Nursery in Grantham, Lincs, in a deal arranged by Abacus Day Nursery Sales, part of Blacks Business Brokers. The lease on the business was bought off a guide price of £29,950 with an annual rent of £11,960 per year. Until shutting its doors in February, the nursery was registered for up to 50 children and had an annual turnover of £150,000. Alpha plans to reopen the nursery in September this year with a new name: Newton House Day Nursery. Chelsea Melnyk, sales negotiator at Blacks Business Brokers, said: "The market for day nurseries is very strong at the moment, with a lot of demand from both buyers and sellers. We have a growing roster of childcare businesses on our books but we have also completed quite a number of sales already this year, and the pipeline is looking really good for the rest of 2018."

Law firm advises on supermarket sale

Law firm Birketts has advised retailer Mulberry Enterprises on the sale of its Budgens supermarket in East Finchley. “This has been a somewhat protracted transaction but the team has used its best efforts overcoming the challenges along the way. Having experience of advising Budgens retailers, as well as a good relationship with the various other advisers was very useful,” said Ed Savory, who led the Birketts' team. He was assisted by Andrew Ridout and Joe Yexley (property) and Monty Chamberlain (corporate).

Separately, Birketts, has appointed Clare Hedges as head of immigration. She joined the firm as an associate in 2010 and was named as an 'associate to watch' by Chambers [UK 2018] and is listed in Legal 500’s [UK 2017] 'leading individuals' list of immigration lawyers nationwide.

See Profile Birketts

Property solicitor appointed

Alex Butler-Zagni has joined Gotelee Solicitors’ property team in Ipswich as a commercial and rural property solicitor. He advises private clients, businesses and charities on a broad range of commercial and rural property transactions, mainly sale and purchases; development land; commercial and agricultural tenancies; farm diversification; renewable energy projects; and banking work. “Alex’s recruitment further strengthens our highly respected and well-established commercial property team and help us to offer an even wider range of services and attract new business, especially in agriculture where we can provide excellent service and value across Suffolk and the broader region”, said chief executive officer Charles Rowett. He previously worked at two large regional firms and more recently he has worked from Sudbury and prior to that was the NFU East Anglia policy adviser for almost seven years.

See Profile Gotelee Solicitors

Law firm re-accredited

Law firm Fisher Jones Greenwood based across Essex and London, has been re-accredited with the Law Society’s specialist quality mark, Lexcel for the 12th year running. Highlighted areas of good practice included providing accessibility to legal services for all with firm-wide schemes such as deaf awareness training, Stonewall diversity training, dementia training along with being shortlisted for two Law Society Excellence Awards. Paula Fowler, managing partner at FJG, said: ‘’Retaining the Law Society Specialist Quality Mark demonstrates our continuing commitment to consistently deliver legal services which meet our client expectations, provide outstanding client satisfaction and demonstrates outstanding regulatory compliance.”

Seminar on doing business in China

Suffolk Chamber International is holding a seminar Doing Business in China on 20 September at Ufford Park Woodbridge. It will involve three China specialists; Boyi Mu from the China-Britain Business Council; Richard Melton from Suffolk Chamber-member BSP international Foundations, who will provide a case study and Tom Bool from Integro Languages who will provide an overview of cultural barriers and how to overcome them. Rachel Cornes of Suffolk Chamber International said: “In a post-Brexit Britain, China will be an even more significant trading partner. It is vital that Suffolk businesses are well-prepared for the enormous opportunities and challenges presented by this vast and growing marketplace."

Venues to showcase conference & events facilities

A total of 38 venues around Cambridge are showcasing their facilities for meetings, conferences and corporate dining as part of a series of Open Doors events organised by Meet Cambridge, the conference and events bureau. The exclusive showrounds are limited to 12 people with two or three venues in one session. Places need to be reserved but are free to event organisers. The next event is on Wednesday 5th September, from 10.00am – 11.40am with visits to Hughes Hall’s modern, purpose-built, conference centre which can cater for groups from five to 90 and The Gonville Hotel which offers two meeting rooms which are ideal for holding conferences and meetings for up to 40 delegates. For further details and to book a place www.meet-cambridge.com/news/open-doors-2018

Photo: The Gonville Hotel