Client: St Modwen
Banks Long Lead: William Wall
Brief: St. Modwen Industrial & Logistics designs, builds, owns and manages high-quality industrial & logistics assets in the UK. Their occupiers include some of the world’s largest logistics and e-commerce organisations as well as significant national and regional enterprises. The developer acquired this 40 acre strategic employment site having identified Lincoln’s potential for growth, linked to its strong manufacturing base and increasing accessibility to the national road network.
Working alongside the client and joint agents Cushman Wakefield, Banks Long & Co were tasked with formulating a development and marketing strategy that ensured buildings of an appropriate scale and specification were to be delivered and promoted to the local, regional and national occupier markets.
Banks Long solution: Knowledge of the local and regional markets gave the agents confidence to recommend phased speculative construction of new warehouses, with those built greater in size and scale to anything previously brought to market in Lincolnshire. There was no doubt that St Modwen’s high quality specification and sustainability features would appeal to both the local market and national blue-chip occupiers.
Result: The 175,000 sq ft delivered in Phases 1 & 2 generated inward investment for Lincolnshire drawing in blue-chip international occupiers such as DHL and NIC. It also facilitated the growth of successful long-established local business Kimes Transport. All accommodation has been let either before or shortly following PC, even during pandemic lockdown conditions. Construction and promotion of the next phase is now ongoing.