Lincoln agent top £45m in H1 investment transactions
The Lincoln office of Eddisons - formerly Banks Long & Co - has transacted over £45 million of investment sales & acquisitions in the first half of the year (2023) which, according to the firm’s local agents, is a testament to Lincoln’s commercial appeal to a range of sector operators.
Leading the way so far this year, in terms of the number of transactions contributing to the £45 million plus total, is the industrial sector.
This, says Eddisons incorporating Banks Long & Co, is due to Lincoln’s advantageous position on the warehouse & logistics map where access to the country’s spine of key roads and the ports is vital.
Recent and ongoing programmes of road infrastructure improvements in and around the Lincoln conurbation and across the wider county have reinforced the location’s appeal as a regional centre to operators in the industrial sector.
Other investment transactions in which the Lincoln office acted for clients were spread across the healthcare, leisure & retail sectors.
Of particular note when it comes to individual value of transactions, according to the agency, is the sale of Moorland Retail Park, to the south west of Lincoln city centre, and the purchase of Waterside Shopping Centre in the city centre itself, adjacent to the ((https://www.cornhillquarter.co.uk/)) Cornhill Quarter regeneration scheme.
While the sale & purchase price, respectively, of these two retail properties are commercially confidential and remain undisclosed, Eddisons confirms they were ranked among the highest of the transactional values contributing to the overall total.
In reporting the half yearly figure for freehold transactions, Eddisons’ commercial agency in the city highlights that the £45 million plus figure has been achieved in one of the toughest investments market for over a decade.
The Lincoln office’s William Wall, Director, said, “To have achieved such a figure for investment transactions in the first six months of the year is reassuring.
“The base rate interest rate rises of this year reinforced the economic uncertainty that gathered pace as we ended 2022 and that has continued to prevail this year.
“The result has been a very difficult investment market but the Lincoln market is proving resilient for investors who, by their very nature, always look to the long term.
“The ((https://www.eddisons.com/news/property-agency-acquisition-advances-eddisons-regional-reach/)) acquisition of Banks Long & Co by Eddisons earlier this year, itself, is a transaction demonstrating that same confident investment vision in Lincoln and the surrounding area.”