St. Modwen, the UK’s regeneration specialist, has submitted a planning application for a development at one of Lincolnshire’s main strategic employment locations, Network 46.
Following St. Modwen’s acquisition of the remaining 57 acres of development land at the site earlier this year, a planning application has been submitted to North Kesteven District Council for the first phase of 90,000 sq ft of new warehouse and manufacturing space.
St. Modwen has a long-standing commitment in Lincolnshire; it owns more than 30 acres of industrial land in Lincoln, including Firth Road and Ruston Works. In addition, the company was responsible for delivering the 135,000 sq ft state of the art facility for Siemens at Teal Park.
In 2008, Network 46 was granted planning consent for more than 960,000 sq ft of commercial space of which part was developed for occupiers including Apogee, Turbine Efficiency and UK Mail. The site also boasts a new 40,300 sq ft facility for DPDUK. Network 46 is identified by Central Lincolnshire as one of the region’s main strategic employment locations.
Rob Richardson, Development Manager at St. Modwen, said: “We have ambitious plans to develop more than 1m sq ft of industrial space across our national portfolio of development sites over the next year. Our planning application at Network 46 is part of this strategy and we hope we will be able to quickly take forward the development of the scheme once planning consent has been secured. We are confident that the proposed development will deliver much needed new space and further encourage greater investment to the region.”
The site is being marketed by Lincoln based Banks Long & Co and National Agent, Cushman and Wakefield.
William Wall, Director of Banks Long & Co, commented: “The region needs to see these buildings come forward as there has been an acute shortage of new quality manufacturing and warehouse space. The versatile design of the buildings and good power availability will therefore appeal to a wide variety of occupiers.”
Gemma Constantinou of Cushman and Wakefield added: “A lot of businesses are no longer prepared to wait for a new building to be designed and built for them, and this potentially means that inward investors or growing indigenous business locate outside of the region. Whilst it has been some time since we have seen a speculative development of this size we believe it is critical to ensuring the continued growth of the local economy, and we hope to see this scheme come forward quickly.”
Graham McMorran and Chris Allwood from UMC Architects of Newark designed the scheme, and Pegasus Planning is acting for St. Modwen in respect of the planning application.