Project
The owners of a 10-acre parcel of undeveloped land in Lincoln were keen to maximise long-term rental income, being positioned near the new Eastern Bypass and surrounded by established trade counter and motor-trade operators. They appointed Eddisons alongside Shield Estates to advise on development and leasing strategy for the site.
Approach
Our strategy focused on securing well-known brands to establish the scheme’s profile, with the understanding that further interest would follow.
Drawing on our extensive experience in the trade counter sector, we were able to attract national blue-chip occupiers through a phased speculative development. This approach delivered modern units of the right size and specification to meet occupier demand in a timely fashion, whilst generating early momentum and increasing value through the introduction of high-profile tenants to anchor investment.
We advised the delivery of Phase One: a 23,000 sq. ft. terrace of six trade counter units ranging from 3,045 to 4,617 sq. ft. Targeting premium operators, we actively marketed the scheme using national contacts, highlighting the location’s growth potential and the strong commercial surroundings as well as transport links and localised amenities.
Results
Phase One was fully let to a line-up of high-profile tenants including Screwfix, Toolstation, Easy Bathrooms, Connection Flooring, Kent Blaxill and Pochin. The calibre of occupiers and sustained rental growth throughout the letting phase significantly enhanced the site’s value.
The success of Phase One laid the foundation for further development on-site, with Phases Two and Three actively progressing. It has also prompted the client to explore approach their other sites in the same way.
