Waterside Shopping Centre, Lincoln
Phased comprehensive regeneration of an existing 120,000 sq ft three level shopping centre, kick-starting the regeneration of Lincoln’s city centre.
Client
Phase 1 - Capital & Regional
Phase 2 - The Waterside Partnership
Value
£6m
Services
Architectural design and delivery
LK2 produced a new retail and value enhancement strategy which proved pivotal in the purchase of the centre by Capital & Regional.
The centre was in decline and in response, LK2 created solutions which:
- Produced a wholesale retail and value enhancement strategy.
- Created space for four new anchor tenants - H&M, Next, Topshop and Topman.
- Created improved sight lines into the heart of the centre and dramatic two-storey height shop frontages.
- Improved public circulation and footfall.
On completion, there was an increase of 13% in retail sales space, a 30% uplift of Zone A rent and a strong uplift in retail sales. The centre was sold to Tesco Pension Fund for a 20% return.
This project was shortlisted in both the 2014 (phase 1) and 2018 (phase 2) Revo Gold Awards.