News in Brief
A roundup of the latest business news in the county
84,000 sq ft unit sold in Leamington
An industrial building in Leamington Spa has been sold in a £10m deal.
Developer and investor AC Lloyd has sold the 84,000 sq ft building in Tachbrook Park Drive which is occupied by automotive company Grupo Antolin.
he Spanish-based business, which employs 28,000 staff worldwide, agreed a new 15-year lease before the sale to an investor.
https://www.insidermedia.com/insider/midlands/10m-deal-announced-for-industrial-building
Companies move for new units ahead of build
Companies have snapped up more than half the units at a new development planned for a Warwick business park before it has received planning permission.
Developer AC Lloyd has applied to create 15 new business units on land it owns at Tachbrook Park, which is allocated for employment.
Nine companies have already signed up ahead of Warwick District Council making a ruling on the proposal.
https://www.insidermedia.com/insider/midlands/companies-move-for-new-units-ahead-of-go-ahead
Nuneaton housing development up for two property awards
An all-affordable housing scheme in Nuneaton being delivered by Midland Heart and developer Partner has been shortlisted for two Insider Property Awards, West Midlands.
http://www.midlandheart.org.uk/our-news/press-releases/2018/nuneaton-housing-development-deal-up-for-two-property-awards/
Demolition firm bounces back from difficult trading period
A Warwickshire-based demolition specialist which has worked on projects at London's Kings Cross Station has reported record revenue and returned to profit during the first half of its current financial year after recovering from a difficult trading period.
https://www.insidermedia.com/insider/midlands/Demolition-firm-bounces-back-from-difficult-trading-period
Newly listed game studio revs up sales
One of the oldest names in Britain's video games industry has reported revenues of nearly £40m for the first half of its financial year.
Codemasters, which listed on the London Stock Exchange earlier this year, posted revenues of £39.7m for the period to 30 September 2018.
https://www.insidermedia.com/insider/midlands/newly-listed-video-game-maker-revs-up-sales
Aston Martin valued at £4.33bn as float begins
Luxury car maker Aston Martin has priced its initial public offering at £19 a share, valuing the company at £4.33bn when it listed on the London Stock Exchange recently.
https://www.insidermedia.com/insider/midlands/aston-martin-valued-at-4.33bn-as-float-begins
Work to start on new £2.5m HQ in Warwick
Work is set to start later this month on a building contractor's new £2.5m headquarters in Warwick after the plans were given the green light.
MCS Group, which is currently based in Claverdon, Warwickshire, will build a new 8,500 sq ft base at the Opus 40 site in Haywood Road.
https://www.insidermedia.com/insider/midlands/work-to-start-on-contractors-new-2.5m-hq
Nuneaton retail services firm secures £4.25m loan for buy-in
A retail services business in Nuneaton has received a £4.25m unsecured loan to fund a management buy-in.
Ralph Coleman International, which turned over £15m in the year to March 2017, provides washing, storage, haulage and repair of plastic trays in the retail food sector.
https://www.insidermedia.com/insider/midlands/retail-services-firm-secures-4.25m-loan-for-buy-in
Businesses vote to keep BID in business
Stratforward BID, Stratford-upon-Avon’s Business Improvement District, is to continue for another five years after BID businesses voted ‘Yes’ for a third term for the organisation.
https://www.stratford-herald.com/91288-businesses-vote-keep-bid-business.html
Warwickshire eatery awarded prestigious Michelin Star
A prestigious Michelin star has been awarded to a restaurant in Warwickshire as a host of other eateries held on to their status in this year's guide.
Stratford-upon-Avon venue Salt is a new entry in the 2019 guide and has won a place alongside other one-star restaurants such as Adam's, Caters of Moseley, Purnell's and Simpsons – all of Birmingham.
https://www.insidermedia.com/insider/midlands/Warwickshire-eatery-awarded-prestigious-Michelin-star
Fitness firm flexing its muscles in Nuneaton
A company which creates bespoke fitness equipment and exercise spaces for the Armed Forces has moved to a new base in Nuneaton.
Indigo Fitness, which was formed in 1996, has recently completed its move to a new 20,000 sq ft facility at the 2.5 acre historic Co-Operative Society distribution centre after 15 years at its previous factory in Hinckley.
https://www.coventrytelegraph.net/in-your-area/indigo-fitness-moves-to-nuneaton-15272325
Support business in Kenilworth takes advice on its own expansion
Absolute Works, based in The Square, in Kenilworth, began as an outsourced HR service for companies. But over the last eight years it has grown and now has 16 staff and offers services such as recruitment, apprenticeships, health and safety and training. It now provides services to more than 80 companies across a range of sectors
https://www.leamingtoncourier.co.uk/news/business/support-business-in-kenilworth-takes-advice-on-its-own-expansion-1-8662496
Record year for Rigby Group
Rigby Group has reported the best results in its 43-year history, with revenues increasing by more than £200m.
The family-owned company, which is headquartered in Stratford-upon-Avon, operates across Europe, the Middle East and Asia and comprises six core divisions which include technology, airports, hotels, aviation, real estate and finance.
https://www.insidermedia.com/insider/midlands/Record-year-for-Rigby-Group
Old town building would aim to keep Silicon Spa companies in Leamington
As part of its wider Creative Quarter plans to redevelop the area south of the River Leam Warwick District Council is exploring the possibility of building what it has described as a “multi-purpose structure” on part of the Court Street car park with “flexible, modular office space for the creative sector, car parking and events space”.
https://www.leamingtoncourier.co.uk/news/old-town-building-would-have-aim-to-keep-silicon-spa-companies-in-leamington-1-8627774
Leamington’s youngest restaurateur opens new venture
At the age of 24, Leamington’s ‘youngest restaurateur’ has opened a new business in the town which has brought new life to a once-ailing site. Hart + Co, owned by town resident Louise Hart, is located at the Augusta Place venue which was previously occupied by Kasa, Barcode, Afterlife and G’s Bar before the previous premises licence lapsed in 2011.
https://www.leamingtoncourier.co.uk/news/meet-louise-the-youngest-restaurateur-in-leamington-1-8665240
New plans to boost Nuneaton town centre
A 'BID' of good news has been given to businesses in Nuneaton town.
An attempt launched to allow businesses to make much-needed improvements themselves has taken a step forward.
Nuneaton and Bedworth Borough Council has backed plans for a Business Improvement District (BID) in the town centre and any future proposals for one in Bedworth too.
https://www.coventrytelegraph.net/news/coventry-news/nuneaton-news-business-improvement-district-15282565