New owners Wykeland Group and Lincolnshire Co-op are making a major investment as part of a rejuvenation of the Waterside centre in Lincoln.
Leading Yorkshire-based commercial development and investment business Wykeland Group and Lincolnshire Co-op acquired Waterside in a 50/50 partnership last June and the £1m-plus investment is a major statement of confidence in the centre as a retail and leisure destination.
Waterside’s evolution includes a new, high-quality coffee shop which will be located in the heart of the centre.
Work is now underway on the new addition, which will feature a serving counter and attractive, open plan seating area as a centrepiece for Waterside. The works are expected to be completed by mid-May, with the new coffee shop, operated by Lincolnshire-based Seven Districts Coffee, opening shortly after.
The positive changes at Waterside include the creation of a more attractive and welcoming frontage to the centre from High Street, and along the picturesque River Witham.
Two units on High Street have been acquired to form part of the centre, enabling improvement works to the frontage of the centre to take place. The changes will create a better pedestrian flow by the riverside, into the centre and across the river into the Cornhill Quarter.
Contracts are also being concluded for a premium national retailer to occupy one of the units. The letting will bring a significant new name to Waterside and to Lincoln.
The owners have also introduced a rebrand for the centre, creating a modern, youthful appearance and feel. A new, modern design style and colour palette reflects the evolution of Waterside and is aimed at attracting new visitors to the centre and supporting the growth of Lincoln as a destination.
Waterside comprises of 130,000 sq ft of retail and leisure space, with tenants including H&M, Next, New Look, Superdrug, O2, Office and Skechers.
Wykeland Property Director David Donkin 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.”