Funding boost will supercharge Lincoln Ring Road
PAI member Banks Long & Co has welcomed news of a £110 million Government boost – bringing a complete ring road for Lincoln one step nearer reality.
The Team Lincolnshire member said the injection is a real shot in the arm, with its power to help fulfil Lincolnshire County Council’s ambitions to build the Lincoln Southern Bypass, around North Hykeham.
Banks Long & Co Director William Wall said: “This is great news for Lincoln. A full bypass is essential for a forward-thinking, growing city. This scheme is worth celebrating – it holds so much promise for the future.”
The Council will have to submit a full business case for the 70% funding of the £154.458 million project. However, provided it gets final approval, it will only need to pay about £44m towards the build.
“The dualling of the A46 from Lincoln to Leicester quickly proved its worth by increasing accessibility to the city. The completion of the Eastern Bypass, offering better access to the rest of the county, is imminent, so the Government’s support for this remaining section is the final piece of jigsaw,” said Mr Wall.
“We have already seen increased interest and demand from national investors, developers and businesses, a prime example being St Modwen Park Lincoln that has attracted occupiers from near and far. We are confident this trend is poised to grow further.”
“The city has a strong national reputation for its historic environment and quality of life and, together with the wider county, is popular with families because of attractive living costs and educational facilities. The road will create scope for further housebuilding and employment-generating developments,” said Mr Wall.
It will make it more accessible and offer better connectivity to a destination now recognised as a magnet for inward investment, thanks to the continuing growth of the University of Lincoln, which now serves 14,000 students.
“Lincoln’s shopping and cultural amenities have therefore improved significantly over recent years with the regenerated Cornhill Quarter attracting top end brands such as Whistles, Hobbs and Everyman Cinema to the City”
A complete ring road is also expected to make Lincoln and Lincolnshire a serious choice for people considering relocating from the South East of England and larger regional cities.
As a growing firm, Banks Long & Co is proud to serve Lincolnshire, the East Midlands and wider UK.
“We work closely with Local Government bodies and want to praise their collaborative hard work to ensure a better and brighter future for Central Lincolnshire,” added Mr Wall.