One of Lincolnshire’s main strategic employment development locations has the benefit of new ownership following the purchase of the site by St. Modwen earlier this year.
The regeneration specialist has acquired the remaining 57 acres of development land at ‘Network 46’ on the A46 between Lincoln and the A1.
In 2008, Network 46 was granted planning consent for more than 960,000 sq ft of commercial space with occupiers including Apogee, Turbine Efficiency and UK Mail. The site also boasts a new 40,300 sq ft facility for DPDUK.
St. Modwen has a long-standing commitment in Lincolnshire; it owns more than 30 acres of industrial land in Lincoln, the majority of which is let to Siemens with whom the Company worked in partnership on the delivery of a new 135,000 sq ft facility at Teal Park in 2012.
Deputy Leader Councillor Susan Howe of North Kesteven District Council commented on St. Modwen’s acquisition: “Network 46 is one of only three key strategic employment sites in the district and developments here will be fundamental to delivering NKDC’s ambitions for economic growth. We are delighted to be working with St. Modwen again after forging a successful partnership during the delivery of Siemen’s new facility at Teal Park.”
Rob Richardson, Development Manager at St. Modwen, said: “We have, for some time, been keen to extend our development activity in Lincolnshire and Network 46 was the ideal opportunity. We have had a good experience working with the Local Authorities in the area and have been encouraged by their proactive approach. The development’s location is excellent and has already proven popular for growing indigenous companies as well as new businesses to the area, and we see this continuing.”
St. Modwen has instructed UMC Architects of Newark to work with them in taking forward the next phases of the development, and Lincoln-based Banks Long is marketing Network 46 together with National Agency Cushman and Wakefield.
William Wall, Director at Banks Long, said: “Lincoln’s expanding high-tech engineering sector is in need of options for growth. Network 46 has already proven popular with two such occupiers and with St. Modwen’s track record of delivery, the development is well placed to cater for this demand.”
Gemma Constantinou of Cushman and Wakefield added; “The recent development for DPD UK has reinforced the development’s good strategic location and we are encouraged by the further interest we have seen from the national and regional distribution sector”
Leeds based agent WSB together with legal practice Pinsent Masons acted for St. Modwen on the purchase of Network 46.