Investor snaps up 12,500 sq ft former builders’ merchant site

Investor Castle Square Securities has acquired a 1.56-acre site on Chieftain Way, off Tritton Road in southwest Lincoln.

The site, which includes 12,345 sq ft of warehouse and trade counter space, was previously occupied by builders’ merchant Jewson, who vacated the property in 2023.

The leasehold was purchased with vacant possession for an undisclosed sum, marketed with a guide price of £1m.

Following the acquisition, Eddisons has arranged a short-term lease of 0.67 acres of the site to a construction firm working on Lincoln’s Western Growth Corridor.

The agency is now set to market the remaining buildings on the site after refurbishment.

Eddisons, incorporating Banks Long & Co, acted on the company’s behalf.

Eddisons’ Will Wall, who led the acquisition on behalf of Castle Square Securities, said, “The location of the site and the opportunity for increasing yield potential were the drivers of the deal for our client. The site is adjacent to Lincoln’s Western Growth Corridor on which construction is now underway – this makes the acquisition even more of a strategic investment for our client in looking to the long-term.

“The transaction is a mark of confidence in the industrial property market and investor confidence in the enduring appeal of bricks & mortar as an asset class.”