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Rivals bid for £2.7bn right to run the roads
Two rivals have put in bids for a £2.7bn contract to run Birmingham's roads. Amey and consortium Birmingham Street Services have submitted tenders to the city council for the 25-year private finance initiative contract. The winner will be responsible for upgrading all of the city's roads, pavements, bridges, tunnels and streetlights from November 2009. Birmingham Street Services brings together Vinci Concessions, John Laing Investments, highways maintenance expert Ringway and highway management services business WSP. A decision is expected later this year.
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Insider number one in the Midlands - it's official
Insider has been named Midlands Magazine of the Year. The magazine won the title at the Midlands Media Awards, held at Birmingham's International Convention Centre, beating four other shortlisted publications. Editor Kurt Jacobs and staff writer Sam Metcalf were shortlisted for Business Journalist of the Year as was the magazine's new columnist, former Birmingham Post business editor John Duckers. 
For sale sign goes up outside failed Wenham Major offices
The offices of Wenham Major, the high-flying accountancy that collapsed into administration following revelations about its private clients arm, are to be sold. Edward Symmons has been appointed to sell the 6,000 sq ft freehold of the former headquarters in Birmingham city centre, and is looking for offers above £1.3m. The iconic 1904 grade II listed building was designed by Charles Bateman, a pioneer of the arts and crafts movement.
Pioneer of Midlands air travel dies
Sir Robert Taylor, the man who led the move of Birmingham International Airport to its current site, former managing director, has died at the age of 75. Sir Robert oversaw the opening of the Eurohub - the world's first terminal to combine domestic and international passengers - and when he retired from in 1994 more than five million passengers were using the facility, compared with one million when he joined. Joe Kelly, acting managing director, said: "Bob's effervescent character and larger-than-life personality made him a popular and respected businessman, colleague and regional figure."
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Wragge & Co advises on £80m deal
Lawyer Wragge & Co has advised the Local Government Association Group on a strategic partnering agreement worth £82.75m. The ten-year deal with Liberata for the provision of back office support services, including finance, human resources, information management, facilities management and print and design services, is its first major IT instruction completed for the LGA.
Wagon rolls on to £49m rights issue
Auto-components group Wagon has proposed a ten-for-one rights issue to raise £49m. Much of the proceeds from the issue, underwritten by WL Ross, a major shareholder in Birmingham-based Wagon, will provide capital expenditure and pay debt facilities.
Sims shows its metal
Sims, the largest metals recycling company in the world, has acquired West Midlands company Evans and Mondon. An established ferrous metal recycling merchant, the move is a continuation of Australia-based Sims' strategy to expand the geographical coverage of its metals business while consolidating its growing presence in the Midlands. The Evans and Mondon business employs 16 people and recycle more than 30,000 tonnes of metal per year.
Purchase of PSL
Product Support Limited (PSL), the military logistics services business, has been bought by supply chain group Wincanton. PSL, based in Kingswinford, underwent a management buyout (MBO) 18 months ago, backed by private equity house NVM. It provides warehousing and logistic support services, including packing and kitting, for complex defence equipment such as helicopters and fixed-wing aircraft. NWM, which put £6.7m into the MBO, says it has enjoyed returns of more than 70 per cent on its investment.
EZW buys Gazeley
Economic Zones World (EZW), a Dubai World company, has bought big shed developer Gazeley, which has a substantial office in Birmingham, from retail giant Wal-Mart. The price tag is about £300m. The transaction is subject to the European regulatory approval and is expected to be completed in July.
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Nurton completes funding deal
Bank of Scotland's real estate team in Birmingham has completed the refinance of Nurton Developments' Two Colmore Square and Cannon House. Some £80m has been provided by the bank to enable Nurton to move on to the next phase of its refurbishment programme of the 300,000 sq ft city centre building. Nurton's plans include an additional seventh floor office suite, which will command views along Colmore Row.
Wolves digs into student accommodation
Wolverhampton is the city of choice for a £37m Student Village. Planning permission has been granted to developer Victoria Hall to build a 225,000 sq ft scheme, which will include four buildings and approximately 750 flats. The development will be off the Wednesfield Road, within the city's Canal Quarter.
Walsall goes worldwide
Urban Splash has received 132 entries for its Walsall Waterfront architectural competition - from as far away as Mexico, Japan and Italy. The competition is to create a design-led mixed-use waterfront scheme in the heart of Walsall. Known as Lex, the 2.26-acre site sits at the entrance to the Waterfront and is bounded on two sides by canals. "The response has been stunning," said Nathan Cornish, managing director of Urban Splash Midlands. "Walsall's really caught the imagination of the architects, which is exactly what we wanted. I thought there might be 50 entries so to get 132 is fantastic."
Curzon Park gains planning approval
Curzon Park, the £400m mixed use development at Birmingham's Eastside, has taken a major step forward by getting planning permission. The 10.5-acre project, a joint venture between Development Securities and Grainger, has received outline planning permission from the city council. Work is expected to start towards the end of 2008. The project is to build 1.4 million sq ft of office, residential, hotel and leisure. A key part of the council's Eastside regeneration plans, the first phase will incorporate a 120,000 sq ft speculative office building, a 200-bedroom hotel, shopping and leisure space. A new public square surrounding the existing grade I listed Curzon Street Station building will frame the development.
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Poole dives in
Corporate finance advisor Martin Poole has joined Yorkshire Bank as a director of its specialist and acquisition finance team in Birmingham. Martin joins from Clearwater Corporate Finance in Birmingham. At Yorkshire Bank he will be helping to identify lending opportunities and delivering innovative debt and mezzanine solutions, primarily between £5m and £25m.
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Insider Weekly
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Telephone: +44 (0)121 232 0980
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