Construction work has started on the expansion of a thriving business park on the outskirts of Lincoln.
Phase 4 of the Lincoln Enterprise Park (LEP), on the A46 near Thorpe on the Hill, will consist of seven units and will bring much needed extra industrial space to the city.
The seven-acre park has been extensively developed over the last nine years and is now home to 13 businesses including Maher Millard Construction which has been contracted to build the new development.
Five of the units, which will each measure 975 sq ft, have already been sold off-plan.
Nick Falkinder, Director of LEP Developments which owns the park, said he’s anticipating there will be opportunities to rent as well as buy:
These mixed-use units have been specifically designed for small or start-up businesses and can be used for workshop, office or storage space.
Surveys have shown that start-ups have been growing in record numbers during the first quarter of 2015 and we’ve received a lot of interest already from businesses looking to buy their own premises. However, investors looking to purchase and then lease a commercial property have also been in touch so there could also be units available to rent.
Thanks to our convenient location just off the main A46 southern carriageway the buildings which make up phases 1, 2 and 3 are all occupied and we’re expecting these to be just as popular. Given the level of interest we’ve received in this fourth phase we hope to be able to continue to grow and build more units for both start-up and more established business in the future.
Construction on phase four is expected to take 20 weeks and it’s hoped the development will be completed by December 2015.
Nick said the park’s expansion will also boost the local economy:
We’re offering business a rare opportunity to acquire a freehold commercial property on the outskirts of Lincoln which will bring investment and new jobs into the county.
Many of the park’s existing occupants, which started out in the smaller units, have now moved into the larger ones or occupy several units so we are also helping to support business growth.
For more information about the Lincoln Enterprise Park or to download a brochure please visit www.lincolnep.co.uk.