Foundry to get a new lease of life

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A FORMER foundry is set to become a place to live and work after it was bought by developers.

Acting on behalf of CBRE Global Investors, the Leeds team of CBRE has sold the 88-acre former Lincoln Castings site in North Hykeham, near Lincoln, to Persimmon Homes and Sterlin Investments. The Castings site has been vacant since 2006.

Persimmon has bought 44 acres which has outline planning permission for 300 homes and commercial space.

Sterlin Investments has agreed a deal for 44 acres.

Some of the site bought by Sterlin has outline planning permission for commercial and employment space.

Jonathan Shires, the director of Office Agency at CBRE, who completed the deal, said yesterday; “The regeneration potential of the former Castings site has long been identified due to its superb location.”