Waterside Shopping Centre Acquired by Clients of Eddisons Inc Banks Long & Co

Lincolnshire Co-op and Wykeland Group are delighted to announce the acquisition of Waterside Shopping Centre in Lincoln.

The two organisations represented by Eddisons Incorporating Banks Long & Co and Carrick Real Estate, have come together in a 50/50 partnership to secure the prime retail and leisure destination in the heart of Lincoln city centre.

The 130,000 sq ft Waterside scheme is 95% let with an impressive line-up of leading retailers including H&M, Next, New Look, Superdrug, O2, Office and Skechers.

Following the success of the Cornhill Quarter development, the purchase extends Lincolnshire Co-op’s role in the regeneration of Lincoln and also brings Wykeland’s property asset management experience and expertise to the city.

The partners will work together to operate Waterside Shopping Centre as a primarily retail scheme, while also aiming to develop the centre’s leisure offering.

Wykeland has an exceptional track record of working in partnership to develop and manage property assets, including the Fruit Market urban village in Hull and the Treadmills mixed use scheme in Northallerton, North Yorkshire. Wykeland also owns and operates the thriving Flemingate retail and leisure destination in Beverley, East Yorkshire, as well as now owning a large part of Whitefriargate in Hull and being the original developer of The Parishes shopping centre in Scunthorpe.

Lincolnshire Co-op works with partners to develop property schemes, including the Cornhill Quarter regeneration, the Lincoln Science and Innovation Park (LSIP), Lincoln’s digital hub Mosaic and the Barbican Creative Hub project, which is in progress.

Lincolnshire Co-op Head of Property Kevin Kendall said: “Working together with other local organisations, we’re proud of the schemes we’ve developed which boost the economy of the city and county, improve the local environment and provide a range of valued services.

“We’re always looking for opportunities where we could further support the retail and leisure offer within Lincoln and this partnership with Wykeland, focusing on a key site, is a perfect fit.”

The Vendor, Tesco Pension Fund, was represented by Green and Partners.