Ben and Stephen discuss a company that develops F1 simulators, the collapse of a property developer and expansion for a retail giant.
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00:00A company that develops F1 simulators, the collapse of a property developer and expansion
00:05for a retail giant, featured in today's Business Briefing.
00:08Well, it's the new Formula One season starting this weekend. I believe you've got a South
00:17West company that's going to be watching that closely.
00:19I have. So it's a Bristol business that's behind the motion generators that are used
00:23by F1 stars. So South West business insider, editor Chris Ward, he's spoken to the dynamic
00:29NISMA founder and chief executive, and he's also an insider on the 42 alumni, Ash Warne.
00:36So dynamic NISMA is one company that plays a key role in both Ferrari and also other
00:42teams. F1 teams continue to push for progress. So it's based in North Somerset on the outskirts
00:48of Bristol, and the company says it builds the self-described most realistic F1 simulator
00:53money can buy. So that's quite interesting. And so simulators are now an essential weapon
00:59in the armory for F1 teams. As you'll know, you're a big F1 fan yourself.
01:03I am, yeah. I'm looking forward to the race on Friday.
01:05Looking forward to the start of the season. So yeah, dynamic NISMA, they've led the project
01:09to custom build the Ferrari F1 team's most recent simulator in 2023. So yeah, really
01:16interesting company there. And yeah, they play a key role in the F1 team's preparation.
01:22Yeah, great stuff. Always good to see a guy like an insider, like come and see a guy like
01:25that.
01:26Yes, absolutely.
01:27Well, in the Midlands, we've got the news that a retailer of furniture, bedding, technology
01:31and electrical appliances has chosen a site for the new location of a dedicated UK headquarters.
01:36Great.
01:37So Harvey Norman was established in 1982, now has about 300 stores worldwide.
01:42Big firm.
01:43Yeah. It has selected the Grace Shirt Centre in Walsall and Caulfield for its expansion.
01:49And that follows on from news last year of a flagship store at the Merrihill Shopping
01:53Centre. The company expects to create about 100 jobs across areas like sales, marketing,
02:00finance, warehouse, administration, management.
02:03Big, big economic boost there.
02:05Yeah. Also, apprenticeships as well, so good to see it kind of in the next generation.
02:10So the flagship Merrihill Centre store opened last year. That's the first phase of planned
02:15investment there. It's also looking to create about 200 jobs going forward with negotiations
02:22ongoing regarding other opportunities in the region. That investment drive is being
02:28supported by the Westminster's Growth Company, which is helping it to identify sites. So
02:32really exciting development.
02:33It's really, really great to hear. Positive news, yes.
02:36I believe you've got a Wales story for us as well.
02:38Yes. So unfortunately, a South Wales-based property developer, Enzo's Homes, that's entered
02:44liquidation after more than a decade of trading. So liquidators will be responsible also for
02:51managing the sale of a four-acre industrial site. So Stephen Goderski and Oliver Collins
02:57of PKF Little John Advisory, they've been appointed joint liquidators of Enzo's Homes.
03:03They were appointed on 27th of February and they will be responsible for managing the
03:08sale of the site that I mentioned. And Stephen Goderski, he expects a significant interest
03:14in the industrial site. He said the freehold site is currently fully let to three diverse
03:19regional tenants, like just over four acres split across warehouses and modular offices.
03:25The site presents a fantastic opportunity. And he goes on to say Enzo's Homes traded for nearly
03:3013 years prior to its liquidation. We will be engaging with all relevant stakeholders
03:36to maximise the return to creditors. So some sad news there, but at the same time, there's a
03:40positive coming from it in the sense that they're looking at the sale of this site,
03:46which presents an opportunity for someone going forward.
03:48That's right. Hopefully some good news to come.
03:50Yes.
03:50Looking forward. Well, last thing today in the South East, we've covered a number of stories
03:55on Oxford United's plans for a new stadium development over the past few months.
03:58Exciting.
03:59Yeah, yeah, yeah.
04:00Real rise as a club.
04:01Yeah, they seem to be doing really well at the moment. So yeah, great to see them.
04:05They're in the championship. The latest news is the announcement today that an independent hotel
04:10management firm has been appointed to operate the Radisson branded hotel, but it's planned for the
04:15brand name to be involved in as well.
04:16Yeah, big development there. So Sykos Hospitality manages a portfolio of more than 55 branded
04:22hotels in 13 countries. So again, good name to get attached to that. It follows the recent
04:26agreement between Oxford United and the Radisson hotel group for the hotel. Now that would have
04:32about 180 bedrooms and would be located on the site known as the Triangle. That would be alongside
04:39the 16,000 capacity stadium, 1,000 capacity conference and events venue. There are also
04:46plans for bars, restaurants, fitness and entertainment facilities. The development
04:51as a whole is expected to create about 1,000 jobs, so a really significant one for Oxford.
04:55I don't know if you know the stadium, but it's got like three stands.
04:58Yeah, they are on, yeah.
05:00So this new ground sounds like...
05:03It sounds like it would be very different.
05:04Yes.
05:04Hopefully great for the fans as well.
05:06Yes.
05:07Well, the planned hotel would have a range of rooms and suites designed to meet the needs
05:11of businesses, both on match days and during business corporate times. You may remember
05:17earlier in the year, a decision on the wider stadium development was delayed. That's now
05:22expected to be made in June, I believe. So one to keep an eye on.
05:25No, fantastic. Really good news there for Oxford United and also the wider city as well.
05:30Yeah, really good news, yeah. Well, for more on any of those stories you saw today,
05:34visit insidermedia.com. You can also sign up to the newsletters and find out about our
05:38upcoming events. Thank you for watching.