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22 March 2002
MP opens first
phase of
£5 million Lincoln
office complex
Gillian Merron MP for Lincoln unveils a plaque
to open the first
phase of The Point. Also in the pictire are
Hugh Dibley (left) and
Colin Sergeant.
Gillian Merron MP for Lincoln officially
opened the first phase of a new £5 million
office park in Lincoln, The Point, marked
by Hodgson Elkington on Friday 22 March.
The completion of the first phase of The
Point, which holds out the prospect of creating
up to 400 jobs, marks a significant milestone
in the development of the city's first large
scale out-of-town office development.
Already half of the 14,000 sq ft first phase
has been let and much of the remaining space
is under offer.
"I am delighted to have the opportunity
to officially open the first phase of The
Point, an exciting and important development
for the city. I look forward to The Point
being a draw for jobs and investment as it
contributes to Lincoln's vibrant future,"
said Gillian Merron MP.
The first occupant, recruitment specialist
Executive Network has already moved in to
the high quality office development.
Bournston, the Nottingham based developer
of The Point has also secured other lettings.
The National Care Standards Commission is
taking a 10 year lease on a large two storey
office building within phase one.
The complex which, whilst designed and built
speculatively as a potential HQ building,
proved to suit The National Care Standards
Commission requirements very closely. "This
is a great feather in Bournston's cap and
vindicates the decision to proceed with the
development of The Point," said Mr Dibley.
Approximately 40 staff will be relocated
from offices at Lindum Road, Lincoln to The
Point in late April. "The offices will
be ideal for our purposes and fit well with
our new image," said Jim Allwood, project
manager for the National Care Standards Commission.
A letting of another 710 sq ft unit to a
local construction company has been agreed
and another slightly larger unit will soon
be occupied by a high tech company, which
is well advanced with fitting out proposals.
There is also considerable interest being
shown in the remaining small units from a
variety of sectors.
The Point Office Park on Weaver Road, off
Whisby Road, is on a three-acre site and is
close to the Lincoln bypass and will be the
largest office park Lincoln has ever seen.
The development holds out the prospect of
creating up to 400 new jobs and when completed
will provide 43,000 sq ft of single and two
storey, high specification office accommodation.
The first units on Phase One were built speculatively
which underlines the developers' confidence
in the commercial viability of Lincoln. Plans
for Phase Two are already under discussion.
Units of 700 sq ft and over are available
for sale freehold or to lease. Other compatible
uses will also be considered for the site.
"A speculative development of this size
was a brave move for Bournston but their confidence
in the commercial property market has been
born out by the success of this scheme,"
said Daniel Race, of chartered surveyors,
Hodgson Elkington. "To have over half
the initial phase sold, let or under offer
before completion of the development also
reflects the quality of the development and
its location," added Mr Race.
"We had been aware of the need to provide
office accommodation in Lincoln for some time
and had been looking at several potential
sites. The Whisby Road site we chose provides
unsurpassed access both to the road network
and to the city centre," said Mr Dibley.
"This is the first purpose-built out
of town office park for Lincoln and it addresses
the hitherto lack of good quality office accommodation
available to businesses wanting to establish
a base in the region and for others wishing
to relocate" he added.
Construction work is being carried out by
Lincoln builder Wright's Construction, based
at Crofton Close. At the peak of construction
45 people will be on site. "We are proud
to have been the main contractor in this exciting
new business park project which will undoubtedly
encourage new business into the city,"
said Colin Sergeant, the company's managing
director.
Joint agents for the scheme are Hodgson Elkington
and Banks Long, architects and quantity surveyors
are Lincoln-based firms John Roberts Associates
and Michael Gerry Associates.
This is the first major development in Lincoln
by Bournston, which as a group of companies
has been responsible for several recent major
developments in the East Midlands and Yorkshire,
including the refurbishment and conversion
of Town Wharf and Dobson's Quay at Newark,
the redevelopment of Sheffield City Council's
former works depot into student accommodation
and the company's flagship conversion of a
1970's office building into 68 luxury apartments
in Nottingham.
Further information from
Paul Croft
Tel: 01427 788319
Issued on behalf of Hodgson Elkington by
Croft Communications Ltd.
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