Lincoln engineering firm in £2.5m move
An engineering firm is relocating its business in a move that will create jobs.
North Hykeham laser-cutting, computerised machining and folding firm Lincoln Precision Engineering (LPE), which employs 25 people, is spending £1.5m on a move to purpose-built premises on a new business park, where it will also install new laser and folding equipment.
The company is currently based at the Lindum Business Park, but will be making the switch to Discovery Park in nearby Whisby Road in early 2018.
The Lindum Group has sold LPE land at the seven acre park – which could uiltimately attract up to 200 jobs to the district.
LPE managing director Trevor Wherrell said: “During our time at the Lindum Business Park, we have grown into a company with a turnover of nearly £2.5 million. Our plans for further growth and the opportunities offered by the diverse sectors we deal with, has encouraged us to invest in our own premises.
“Our new building will provide us with a purpose-built factory and offices, in a fast-expanding area. It will give us the extra capacity we need and will raise our profile with existing and potential new customers.”
He added: “Whilst our move represents an investment of about £1.5 million, we are also buying new laser-cutting and folding equipment costing a further £1 million, for our ‘around the clock’ operation, and we hope to create around six more jobs within 18 months of relocating.”
Lindum Group development surveyor Dean Bower said: “We are delighted to provide a design-and-build solution at Discovery Park for Lincoln Precision Engineering, a family-run company which has grown its business whilst being based on our nearby Business Park on Station Road.
“The 16,200 sq ft office and production facility being created for LPE Ltd will take 1.2 acres of the seven acre site, allowing us still to be able to offer other businesses bespoke premises solutions here, on competitive freehold or leasehold terms.
“When complete, Discovery Park is expected to attract significant investment of over £10m for the local economy, securing upwards of 100 jobs, which has tremendous benefits for the local area and community.”
Banks Long & Co director William Wall said: “Discovery Park lies in the fast-growing LN6 area, which is superbly located for quick access to the A46, A1 and wider East Midlands.
“We are delighted to see a homegrown engineering firm being the first to take space on the site, which offers superb opportunities for local, regional and national companies.
Councillor Richard Wright, leader of North Kesteven District Council, said: “It is great to see a local company being the first to move to Discovery Park, reinforcing the North Hykeham and LN6 area’s reputation as a great place to do business.
“As a Council we have invested in the area ourselves to support start-up and growing businesses and have an active partnership to promote LN6 and open further its potential for inward investment, expansion and growth.”
