The client: Lincolnshire Co-operative Ltd. and the landlords
Banks Long & Co leads: Tim Bradford, Simon Bridge & James Butcher
The brief: In 2017, Banks Long & Co were asked to act on behalf of the Lincolnshire Co-operative and the Moorland Centre’s landlords to find the right tenants to move onto the Lincoln-based retail park, and then project manage the respective builds.
The aim was to provide shoppers with more choice in that area of the city, increasing footfall at the retail park by introducing popular new brands and more than doubling the size of the car park.
Our agents knew that big-name retailers like Aldi and Marks and Spencer (M&S) were looking at various sites within the city centre, and it was their responsibility to not only find these potential tenants but convince them that this was the right scheme for them.
Banks Long & Co Solution: Banks Long & Co identified M&S as having a requirement for this location, and agreed a pre-let with them.
After ensuring planning permission was approved, the team developed the unit for the major British retailer, acting as letting agents, project managers and quantity surveyors on the scheme.
The results: Due to the successful performance and excellent trading figures of the new M&S store, the Moorland Centre is now into the second phase of its ongoing development.
Research into the local area alerted the Commercial Property Lettings team to Aldi's requirements and interest in various sites within the city centre. Using the impressive trading figures of the new M&S store, the agents demonstrated to the retailer that the Moorland Centre site was their best option.
The next stage involves demolishing the former Moorland Centre and building a brand-new Aldi supermarket; and another 10,000 square foot unit.