St Modwen secures 55,000 sq ft pre-let with local Lincoln firm
St Modwen will has agreed another lease at St Modwen Park Lincoln after haulage, storage and distribution firm George H Kime & Co Ltd signed for a 54,793 sq ft industrial and logistics unit on 15-year deal.
The second phase of development at the popular 70-acre industrial and logistics scheme will be ready for occupation in October 2020 – and is now fully let.
George H Kime & Co Ltd, a local family business celebrating its 90th year, has joined DHL Parcel (UK) Limited in securing a pre-let at the sought-after development. The German logistics company, who acquired UK Mail in 2018, agreed to expand its operations at St Modwen Park Lincoln in March 2020 and will occupy a further 25,000 sq ft unit on a 10-year lease upon completion.
Providing high-quality industrial and warehouse space, St Modwen Park Lincoln offers businesses an opportunity to be located on the A46 dual carriageway with excellent access to sea ports, airports and the national motorway network.
The new best-in-class units are designed to cater for modern occupier needs with high bays, top specification offices, generous car parking and ample yard space.
Gemma Butler, Development & Leasing Manager at St Modwen Industrial & Logistics, says: “St Modwen Park Lincoln has proved successful because we had the courage to build speculatively to capitalise upon the lack of supply in the market. To have fully let the scheme well in advance of our projected completion date is a great achievement – and shows the robust strength of the logistics market amidst the backdrop of a global pandemic. We’re pleased to have now secured lettings to two leading businesses and appreciate the long-term commitment both have shown to St Modwen.”
Nigel Kime, Managing Director at George H Kime & Co Ltd, adds: “We have a need to relocate to expand our operation and meet our customers’ needs. The development is truly market-leading and we’re delighted to have secured a building of this quality as there is a distinct lack of elite industrial units in Lincolnshire. We eagerly await the completion of the scheme and look forward to welcoming our existing and new customers to the site.”
Cllr Richard Wright, Leader of North Kesteven District Council, says: “It’s wonderful that a long-established firm which has traded successfully in North Kesteven for so long has been able to find the perfect space to relocate and expand within the District.
“This is just the type of enterprise St Modwen Park Lincoln was approved to support and the fact that it is joining other logistics companies will help in the development of a strong business hub there that will undoubtedly build confidence for others looking to relocate.
“The news is also a welcome expression of confidence in the economic possibilities of trading within North Kesteven at the current time.”
Joint agents for the scheme are Cushman and Wakefield and Banks Long & Co.
William Wall, Director at Banks Long & Co, adds: “St Modwen Park Lincoln’s position in relation to key transport hubs and motorways is unrivalled in Lincolnshire and this will benefit George H Kime & Co Ltd in carrying out its operations across both the UK and Europe. To have the scheme fully let prior to practical completion is a great achievement.”