CHARTERED SURVEYOR APPROVED The Eddisons acquisition of Banks Long & Co in the spring saw the firm add another location to its East Midlands & Eastern regional offer. William Wall, Director, gives an agency view of three keys currently unlocking Lincoln’s commercial appeal.
Location, location, location is not just the mantra of residential estate agents, it is ours in commercial agency too. But location does nothing for commercial fortunes, in particular, without connectivity.
Lincoln and the wider county, is uniquely placed in the UK, connecting the Humber Freeports with the heart of the Midlands industrial engine.
Further major road improvements are impending, reinforcing the strategic links to the country’s dynamic economic corridors.
Construction of the Lincoln Southern bypass is to start in 2025, completing the loop around the city. This will be a key catalyst for growth.
Importantly, the A1/A46/A17 interchange and northern ring road at Newark are both to be significantly upgraded. This will notably reduce congestion and travel times between the Humber Ports/Lincolnshire and the wider region.
The county has attracted several international logistics businesses, including DHL and DPD and major developers are investing heavily in the area.
St Modwen Park has already delivered over 400,000 sq ft of commercial space in recent years. An additional 350,000 sq ft is now consented and it’s a scheme on which we act as agents.
Further major road improvements are impending, reinforcing the strategic links to the country’s dynamic economic corridors.
Construction of the Lincoln Southern bypass is to start in 2025, completing the loop around the city. This will be a key catalyst for growth.
Importantly, the A1/A46/A17 interchange and northern ring road at Newark are both to be significantly upgraded. This will notably reduce congestion and travel times between the Humber Ports/Lincolnshire and the wider region.
Logistics is not the only growth sector. The city and the county are also being promoted as a centre of excellence for defence.
This builds on the legacy of the Second World War and Cold War era airfields, with RAF Waddington becoming the new home for the world famous Red Arrows squadron.
The Waddington base also houses the UK’s Intelligence, Surveillance Target Acquisition & Reconnaissance (ISTAR), as well as the main site for airborne intelligence aircraft & systems operations.
The area continues to attract a range of major international and national defence & aerospace businesses who offer high level, highly skilled employment opportunities.
The Greater Lincolnshire Regional Defence & Security Cluster was launched in August this year. This new status will open doors to public & commercial funding & development streams and an international profile backed by central government recognition and endorsement.
At the launch it was announced, ‘The cluster will support innovation in the field of intelligence, surveillance, target acquisition and reconnaissance’ and the aim is ‘… to establish Greater Lincolnshire as a national defence and security innovation, production and service hub… ’
There is a growing focus on the thriving Lincoln Science & Innovation Park, a joint venture between Lincolnshire Co-operative and the University of Lincoln – and another scheme on which we are active agents.
In referencing high value skills, the raising of the profile of the education sector is the last in our consideration here of the last in the trio of keys to Lincoln’s advantageous commercial position.
Over the last 27 years, the University of Lincoln has had a major impact on the growth and evolution of the city, offering award winning degree and training opportunities to new generations of students.
The student population has increased year on year, with applicants drawn to the quality of life provided by the city’s historic environment.
This, in turn, has given key stakeholders the confidence to deliver major regeneration schemes such as the Cornhill Quarter.
Backed by central government funding in the form of £5.9 million from the Town Deal programme, this £70 million city centre development has brought a host of new high-end retail and leisure offers to the city.
Led by Lincolnshire Co-operative, it was supported by Historic England, The National Heritage Lottery Fund and, of course, City of Lincoln Council.
Our local agency has already let a number of retail units in the Quarter’s Sincil Street to vibrant, new traders and we marketing a few remaining instructions.
Part of the wholesale regeneration project will see the restoration and reinvention of the Grade II Listed Cornhill Market, where work began this summer to transform this traditional market building for contemporary uses and it is where we are also acting as the appointed agents.
Road, planes & brains – a triumvirate of attributes that are re-presenting Lincoln to the most modern of commercial investors & operators.
This article is reproduced by kind permission of Business Weekly in which a version recently appeared as part of the publication’s monthly ‘Scaling up in association with Eddisons’ feature.
Our talented team of commercial property experts provide news, reports and expert insight. Join over 50,000 property managers, occupiers, landlords and investors receiving our latest insights.
We’re proud to employ more than 350 talented individuals working across a multitude of disciplines.
Eddisons is rapidly growing; emphasised by our nationwide office network which is now 25-strong.
We’re ready to take your call and can quickly pass you through to the right department.
