Teal Park Update

Completion of new industrial developments at Vincent Court and Blackwood Court, Teal Park is drawing ever closer.

Completion of the Vincent Court units, being developed by Taylor Lindsey, is scheduled for early March and this is one of two new developments which will be available for occupation for Spring 2016 at Teal Park, Lincoln’s premier employment site.  The first occupier for Vincent Court is already signed up: Brammer, a leading specialist distributor of quality industrial maintenance, repair and overhaul products, are set to move in shortly with other interest firming up.

Dan Race, Development Director with the Teal Park developers, Taylor Lindsey, commented “We are pleased to see the next phase of development at Teal Park nearing completion.  We are encouraged by the level of interest shown and by the other enquiries we are seeing for new projects on Teal Park”.

Jeremy Hoare, Partner of Hodgson Elkington comments “Construction of this new and exciting scheme is nearing completion, we have one unit pre-let and we are waiting to hear from an international company on three units which will hopefully take us to having well over two thirds of the scheme let prior to practical completion.  We see the scheme providing quality units on this, Lincoln’s premier business park location, from 2,600 sq ft upwards, a size currently needed in today’s market”.

The second of the two new developments which is scheduled to complete mid-February 2016 is Blackwood Court being constructed by North Kesteven District Council.

Marie Gutteridge, Partner of Hodgson Elkington comments “We are delighted to announce 5 pre-lets ahead of the February completion of these units. Whilst we had every confidence that these units would be of particular interest to new and expanding businesses, the news of 5 confirmed lettings ahead of completion is very exciting and is an extremely encouraging start to the New Year”.

The 19 workshop units range in size from 500 sq.ft. to 2,000 sq.ft. and will extend the range of North Kesteven District Council managed units within their district to over 100.

The encouraging start to the occupation of the Blackwood Court units follows the success of North Kesteven’s previous scheme at Churchill Business Park at Bracebridge Heath which was fully let and occupied within six months of completion and has continued to be 100% occupied.

North Kesteven District Council leader Cllr Marion Brighton OBE, who takes particular interest in business development within the LN6 priority growth area, said the Council’s £2m plus investment in the development of Blackwood Court was in direct response to significant demand from businesses wanting to grow, expand and relocate into flexible workshop units within the North Hykeham area.

“To have more than a quarter of the units let before we even complete the scheme highlights the importance of this investment and the foresight of the Council in pursing it. This part of North Hykeham is developing a strong reputation as a distinct and desirable place to do business and we are very pleased to welcome more businesses to join in with that enterprising spirit.

“There is a natural synergy between our own development and the larger units at the adjacent Vincent Court which will hopefully encourage those fledgling businesses which outgrow Blackwood Court through their continued success, to stay in the area and carry on contributing to the vitality of the LN6 business community which we are working so hard to foster.