Bournston - Offices Development - Lincoln, The Point,
Date: 21 Mar 2002
MP to open first phase of £5 million Lincoln office complex.
Gillian Merron MP for Lincoln will open the first phase of a new £5 million office park in Lincoln, The Point, on Friday 22 March (12 noon).
The completion of the first phase of The Point, which holds out the prospect of creating up to 400 jobs, marks a significant milestone in the development of the city's first large scale out-of-town office development.
Already half of the 14,000 sq ft first phase has been let and much of the remaining space is under offer.
"I am delighted to have the opportunity to officially open the first phase of The Point, an exciting and important development for the city. I look forward to The Point being a draw for jobs and investment as it contributes to Lincoln's vibrant future," said Gillian Merron MP.
The first occupant, recruitment specialist Executive Network has already moved in to the high quality office development.
Bournston, the Nottingham based developer of The Point has also secured other lettings. The National Care Standards Commission is taking a 10 year lease on a large two storey office building within phase one.
The complex which, whilst designed and built speculatively as a potential HQ building, proved to suit The National Care Standards Commission requirements very closely. "This is a great feather in Bournston's cap and vindicates the decision to proceed with the development of The Point," said Mr Dibley.
Approximately 40 staff will be relocated from offices at Lindum Road, Lincoln to The Point in late April. "The offices will be ideal for our purposes and fit well with our new image," said Jim Allwood, project manager for the National Care Standards Commission.
A letting of another 710 sq ft unit to a local construction company has been agreed and another slightly larger unit will soon be occupied by a high tech company, which is well advanced with fitting out proposals. There is also considerable interest being shown in the remaining small units from a variety of sectors.
The Point Office Park on Weaver Road, off Whisby Road, is on a three-acre site and is close to the Lincoln bypass and will be the largest office park Lincoln has ever seen. The development holds out the prospect of creating up to 400 new jobs and when completed will provide 43,000 sq ft of single and two storey, high specification office accommodation.
The first units on Phase One were built speculatively which underlines the developers' confidence in the commercial viability of Lincoln. Plans for Phase Two are already under discussion. Units of 700 sq ft and over are available for sale freehold or to lease. Other compatible uses will also be considered for the site.
"A speculative development of this size was a brave move for Bournston but their confidence in the commercial property market has been born out by the success of this scheme," said Daniel Race, of chartered surveyors, Hodgson Elkington. "To have over half the initial phase sold, let or under offer before completion of the development also reflects the quality of the development and its location," added Mr Race.
"We had been aware of the need to provide office accommodation in Lincoln for some time and had been looking at several potential sites. The Whisby Road site we chose provides unsurpassed access both to the road network and to the city centre," said Mr Dibley. "This is the first purpose-built out of town office park for Lincoln and it addresses the hitherto lack of good quality office accommodation available to businesses wanting to establish a base in the region and for others wishing to relocate" he added.
Construction work is being carried out by Lincoln builder Wright's Construction, based at Crofton Close. At the peak of construction 45 people will be on site. "We are proud to have been the main contractor in this exciting new business park project which will undoubtedly encourage new business into the city," said Colin Sergeant, the company's managing director.
Joint agents for the scheme are Hodgson Elkington and Banks Long, architects and quantity surveyors are Lincoln-based firms John Roberts Associates and Michael Gerry Associates.
This is the first major development in Lincoln by Bournston, which as a group of companies has been responsible for several recent major developments in the East Midlands and Yorkshire, including the refurbishment and conversion of Town Wharf and Dobson's Quay at Newark, the redevelopment of Sheffield City Council's former works depot into student accommodation and the company's flagship conversion of a 1970's office building into 68 luxury apartments in Nottingham.
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