New owners of Lincoln shopping centre invest over £1m

Wykeland Group and Lincolnshire Co-op, the new owners of the Waterside Centre in Lincoln, are embarking on an investment as part of its rejuvenation.

Following their 50/50 partnership acquisition last June, they are investing over £1m to enhance Waterside’s appeal as a retail and leisure destination.

Waterside comprises 130,000 sq ft of retail and leisure space and is home to retailers including H&M, Next, New Look, Superdrug, O2, Office and Skechers.

As part of Waterside’s transformation, a new coffee shop is being introduced at the heart of the centre.

It will be operated by Seven Districts Coffee, a local Lincolnshire business known for its establishments in Welton, Nettleham, and the CASK Kitchen restaurant in Lincoln.

Additionally, the owners are enhancing the centre’s aesthetics, with improvements to its frontage along High Street and the River Witham.

Two units on High Street have been acquired to facilitate these enhancements, with construction underway, with completion expected by mid-May, followed shortly by the cafe’s opening.

David Donkin, Property Director of Hull-based Wykeland, said: “Less than a year after acquiring Waterside with our partners Lincolnshire Co-op, we’re delighted to announce this significant investment into the centre. It’s a very strong statement of our confidence in Waterside as an important part of Lincoln city centre.

“We’ve been having some exciting discussions with both existing and new tenants, as we look to enhance Waterside’s offer to local people and visitors to Lincoln. We see a very bright future for Waterside and the businesses within it.”

Lincolnshire Co-op’s Head of Property, Kevin Kendall, said: “With our partners Wykeland, we have been working to revitalise the Waterside to make it even more of a key destination for visitors to the city centre.

“We’re excited to be bringing in Seven Districts, which we are sure will be valued by shoppers, and believe that our plans for the façade will make that part of the centre more open and attractive, contributing positively to the High Street and waterside street scene environment.”