Greenray commits to Lincoln with new £3m HQ
Work has started on a new £3m headquarters for a Lincolnshire engineering company.
Today, Lincoln-based Chartered Surveyor Banks Long & Co and Lindum Construction revealed that the groundworks for Greenray’s new building in Teal Park, North Hykeham, are underway.
Greenray has outgrown its current headquarters in Runcorn Road and sister premises in Pioneer Way and Sadler Road.
Staff expect to move into the new premises early next year.
Greenray chief operating officer Norman Davies said: “We are committed to the Lincoln area. It is home to the majority of our workforce and Teal Park will be the centre of our business.”
A partner to Siemens, which is also based at Teal Park, Greenray specialises in providing parts and servicing for “legacy” engines, leaving other engineering companies to concentrate on newer models, research and development.
Davies added: We are looking to diversify into other markets. Alongside our gas turbines business, we are also supporting the steam turbine and rotating equipment markets, together with an exciting new company called ACL Automation.”
Exports currently account for 64 per cent of Greenray’s business.
“We are now exploring sales opportunities elsewhere in the world. Whilst we are currently working in Brazil, Venezuela, North America, Canada, India and Malaysia, we are confident of expanding into additional markets. South Africa, the Far East and Australia, are all emerging markets,” added Davies.
Banks Long & Co director William Wall said: “We are pleased to have helped to unlock this much-needed development at Teal Park, by facilitating the simultaneous land acquisition, agreement for lease, build contract and forward investment sale.
“This follows shortly after our involvement in delivering the adjacent Blackwood Court starter unit scheme.
“We pride ourselves on our ability to structure complex off-market deals and look forward to announcing further exciting developments in the coming months.”
Lindum JV developments director Stuart Mitchell said: “Lindum is delighted to be working in partnership with Greenray to deliver a flagship new headquarters for its business.
“The new offices and warehouse will provide 25,000 sq ft of space, bringing Greenray’s operations into a single site, allowing its business to continue to thrive and grow.”