Project
Eddisons was appointed by Morrisons, working jointly with WSB Property Consultants LLP (Leeds), to handle the sale of a plot of land measuring just under 3 acres adjacent to the Morrisons supermarket on Tritton Road, Lincoln.
Approach
Acting on behalf of Morrisons, the agents implemented a comprehensive marketing and advertising campaign to generate strong interest in the site. This strategy resulted in a high volume of enquiries and multiple competitive bids from a range of potential buyers.
Results
The land was successfully sold to Torsion Students, a well-established national developer specialising in high-end student accommodation, on a subject-to-planning basis.
Torsion secured planning permission in late 2019 for Pine Mill, a secure, gated development comprising over 360 student beds. The sale was completed in early 2020 at a price exceeding £3 million (equating to approximately £1.2 million per acre) with Eddisons and WSB acting on behalf of Morrisons.
Construction has since commenced on the new student accommodation, which includes on-site parking, electric vehicle charging points, and is ideally situated within walking distance of the University of Lincoln and nearby amenities.
