Lincolnshire Co-op and Wykeland Group announce Waterside Shopping Centre acquisition

A spokesman said: “Following the success of the Cornhill Quarter development, the purchase extends Lincolnshire Co-op’s role in the regeneration of Lincoln and also brings Wykeland’s property asset management experience and expertise to the city. The partners will work together to operate Waterside Shopping Centre as a primarily retail scheme, while also aiming to develop the centre’s leisure offering.”

Hull-based Wykeland has developed and managed a wide range of property assets, including the Fruit Market urban village in Hull and the Treadmills mixed use scheme in Northallerton, North Yorkshire. Wykeland also owns and operates the Flemingate retail and leisure destination in Beverley, East Yorkshire, as well as now owning a large part of Whitefriargate in Hull and being the original developer of The Parishes shopping centre in Scunthorpe.

Dominic Gibbons, Managing Director of Wykeland, said: “We see this as a highly attractive asset in a vibrant city centre location benefiting from significant and ongoing investment, particularly the neighbouring Cornhill Quarter scheme where Lincolnshire Co-op have undertaken a fantastic regeneration scheme.

“This is great news for Waterside, as the centre is now in the hands of organisations with track records of commercial property asset management and development in Lincolnshire and the wider region.

“We share the same values, as investors with a long-term view and a deep commitment to supporting local communities. We look forward to working together to ensure Waterside makes the fullest possible contribution to Lincoln’s future.”

Lincolnshire Co-op Head of Property Kevin Kendall said: “Working together with other local organisations, we’re proud of the schemes we’ve developed which boost the economy of the city and county, improve the local environment and provide a range of valued services."