Project
We identified that North Kesteven District Council wished to deliver an SME focused small industrial unit scheme in South West Lincoln. We were also aware that a growing local turbine business was keen to consolidate their operations into a new high-quality HQ facility.
Approach
We appraised potential on and off-market land opportunities in the area. A 3-acre parcel of land owned by Lincolnshire County Council at Teal Park was deemed to be the prime option due to its position opposite Siemens and accessibility to the A46 Lincoln Bypass. We structured multi-layered simultaneous transactions on the two elements of the land. The first facilitated construction of the 20,000 sq ft Blackwood Court by Lindum Group for NKDC. The second created a Design & Build 15,000 sq ft office and 10,000 sq ft warehouse for the turbines company, whereby they took a new Institutional lease that was forward sold to a national property investment company.
Results
Lincolnshire County Council secured a land sale that maximised capital receipt and delivered extra jobs for the area. NKDC let all of the constructed workshops to local small businesses within weeks of completion. Lindum Group secured two profitable build contracts. We were subsequently retained by the property investment company to re-let their two buildings and did so promptly to national defence and NHS contractors respectively. These were on terms that generated rental growth and increased return. We are retained to manage and let Blackwood Court on behalf of NKDC.
