Latest news-in-brief from around the county and region...
2,500 jobs move closer after major plans land approval
Proposals for a major expansion of Nuneaton's MIRA Technology Park, led by a private equity investor and developer and expected to create more than 2,500 jobs, have been approved. The proposals from Evans Randall Investors have been backed by North Warwickshire Borough Council. The 'South Site' will provide a large-scale development incorporating 2.3 million sq ft of manufacturing and industrial facilities designed to be complementary to the R&D facilities and campus at the existing MTP site.
https://www.insidermedia.com/news/midlands/2500-jobs-move-closer-after-major-plans-land-approval
New Employment Park proposals Include lorry park with welfare facilities
Proposals have been submitted by Hodgetts Estates for a landmark commercial development at Dordon in North Warwickshire on the north east of J10 M42 Dordon/A5, Polesworth. Outline permission is sought for a strategic employment development of more than one million sq ft of commercial floorspace. The scheme aims to deliver highly sustainable big box units targeted at national and international, as well as a meaningful number of smaller incubator units for SMEs, and the proposals include a dedicated 150-space overnight lorry park with welfare facilities, 24hr security and fenced parking.
https://www.insidermedia.com/news/midlands/employment-scheme-planned-for-golden-triangle-site
Aston Martin recruits 400 at Gaydon and St Athan
Luxury car maker Aston Martin will recruit about 400 technicians to help produce its next generation of sports cars and increased demand for the DBX SUV. Sports car production is based at Gaydon and the SUVs are built at St Athan. The jobs will be agency roles and recruitment has already started.
https://www.bbc.co.uk/news/uk-england-coventry-warwickshire-68336536
JLR reports highest quarterly profit since 2017
Jaguar Land Rover Automotive Plc reported its financial results for the three months to 31 December 2023 (Q3 FY24). JLR delivered another strong performance in Q3 FY24, increasing wholesale sales to fulfil more client orders in the quarter. Revenue for the quarter was £7.4 billion, up 22% versus Q3 FY23 and up 8% versus Q2 FY24. Revenues for the nine months to 31 December 2023 were £21.1 billion – JLR’s highest ever revenue generation in the first nine months of a financial year and up 35% compared to the prior year.
https://www.automotiveworld.com/news-releases/jlr-reports-highest-quarterly-profit-since-2017/
Leamington marketing agency celebrates 40 years
Palmer Hargreaves, an international marketing and communications agency, is marking 40 years since it opened its doors for business in February 1984. The small agency has now grown into a multi-million pound business with a global workforce of more than 250 employees. Despite its success on the world stage, it retains an important connection to its hometown of Leamington Spa.
https://thebusinessmagazine.co.uk/companies/leamington-marketing-agency-celebrates-40-years/
Kwalee takes stake in French studio
Kwalee, a Leamington Spa-headquartered games publisher and developer, has taken a stake in a French studio. 8SEC has published more than 90 mobile games, achieving in excess of 50 million game downloads with titles such as Trivia.io, Hero Squad and Idle Army. It will continue to operate independently out of offices in Paris and Lyon but with the benefit of Kwalee's global team and expertise in user acquisition, monetisation, game design and data science.
https://www.insidermedia.com/news/midlands/kwalee-takes-stake-in-french-studio
Emobility start-up Ox Delivers lands further £1.2m funding
A Leamington-based e-mobility start-up has received a further £1.2m grant from Innovate UK programme Energy Catalyst. OX Delivers will use the funding to support the development of sustainable energy infrastructure in Rwanda from which the company's EV trucks will benefit from. The company said it is dedicated to expanding the rollout of its transport-as-a-service offering across the Global South, starting on the African continent.
https://www.insidermedia.com/news/midlands/emobility-start-up-lands-1.2m-funding
Tourism partnership looks to boost sustainability
Three organisations have formed a partnership in a bid to drive more sustainable tourism across the West Midlands and Warwickshire. Destination Coventry, Shakespeare's England and the West Midlands Growth Company are collaborating to assess and combat key factors impacting sustainability.
https://www.insidermedia.com/news/midlands/tourism-partnership-looks-to-boost-sustainability
Nuneaton's Body Shop Among first to close
Almost half of The Body Shop's 198 stores across the UK are expected to close, with the joint administrators outlining a restructuring plan in a bid to secure the future of the retailer. As an immediate step, seven stores will close 20 February 2024, including the Nuneaton store in Ropewalk Shopping Centre.
https://www.insidermedia.com/news/national/almost-half-of-body-shops-uk-stores-to-close
Turnover surges past £1bn at electrical retailer
The owner of an electrical products wholesaler which operates stores across the UK has posted another record year, with turnover increasing by more than £200m to in excess of £1bn. CEF Holdings, which is headquartered in Kenilworth, owns City Electrical Factors. City Electrical Factors was founded in Coventry in 1951 and now has about 390 branches.
Turnover reached £1.14bn in the year to 30 April 2023, up from £940.2m in 2022. https://www.insidermedia.com/news/midlands/turnover-surges-past-1bn-at-electrical-retailer
MCS Group appointed to £12m headquarters
Warwick-based contractor MCS Group has been appointed to complete a £12m headquarters in Rugby at Houlton for a German electrical engineering company. WAGO UK & Ireland has instructed MCS Group for the construction of new offices and warehouse facilities on Crick Road, Houlton, in Rugby. The scheme includes a three-storey office area with approximately 34,000 sq ft of associated warehouse space and assembly area. It will be the first employment scheme at the Houlton site, where there is further development land available.
https://www.insidermedia.com/news/midlands/mcs-group-appointed-to-12m-headquarters
Emerge Surf deal paves way for major wave park
A partnership between Stoneweg and Teras Capital has acquired the former Emerge Surf development site in Coleshill in a deal that paves the way for the creation of a landmark wave park as part of a £50m commitment. Stoneweg InfraSport has acquired the Coleshill site from IM Properties. The development will be centred around a 5.4-acre man-made WaveGarden Cove surfing lagoon, able to generate 1,000 waves per hour, up to two metres high, with adjustable size and shape.
https://www.insidermedia.com/news/midlands/emerge-surf-deal-paves-way-for-major-wave-park
Land purchase paves way for advanced manufacturing unit
An advanced manufacturing unit with a value of £10.4m is set to be developed in Ansty by commercial property developer Barberry Group following the acquisition of land at one of the region's business parks. The company outlined plans for a 50,750 sq ft industrial unit at Ansty Technology Park after completing the acquisition of the Viggen Way site from Homes England.
https://www.insidermedia.com/news/midlands/land-purchase-paves-way-for-advanced-manufacturing-unit
Step forward angels, we need you says West Midlands
The West Midlands has to up its game when it comes to angel investment in order to support more start-up and scale-up businesses and grow the regional economy. That was a key message from the first West Midlands Angel Symposium, a joint initiative between Aston University’s Centre for Growth team and Minerva Business Angels, part of the University of Warwick Science Park.
https://thebusinessmagazine.co.uk/corporate-finance/step-forward-angels-we-need-you-says-west-midlands/
Launch of Michelin Guide 2024 has Warwickshire venues counting their foodie stars
Two Warwickshire restaurants kept their single stars for 2024. One of them is The Cross at Kenilworth – a Grade II listed inn that’s held this star for nine years and counting. The other is The Royal Oak at Whatcote, which counts itself among the oldest pubs in the country.
https://thebusinessmagazine.co.uk/lifestyle/launch-of-michelin-guide-2024-has-south-west-venues-counting-their-foodie-stars/