Wykeland Group has acquired sole ownership of the Waterside centre in Lincoln for an undisclosed price.
Wykeland and Lincolnshire Co-op formed a joint venture to acquire Waterside in June 2023 and have since delivered a £3m programme of investment to revitalise the centre.
The 130,000 sq ft centre counts the likes of H&M, Next, Rituals, The Body Shop, New Look, Superdrug, O2 and Apple Premium Partner as tenants.
Dominic Gibbons, managing director of Wykeland, said: “Working with Lincolnshire Co-op to rejuvenate Waterside has been a very positive experience and we’d like to thank the Lincolnshire Co-op team for the valuable contribution they’ve made to everything that has been achieved. Our enhanced commitment in becoming the sole owner is a vote of confidence in Waterside as an anchor retail and leisure destination in the heart of Lincoln. We’re committed to continuing to invest in the centre and we’re excited to begin the next chapter of Waterside’s story.”
Paul Howard, chief financial officer at Lincolnshire Co-op, added: “For almost three years, we’ve worked in partnership with Wykeland Group to develop Lincoln’s Waterside centre, and we’re proud of all that we’ve achieved together. New services have been introduced and pre-existing retailers have renewed long-term leases. Now’s the time to transfer full ownership of Waterside to Wykeland, allowing the Wykeland team to continue this great work, while we refocus our investment into areas that align with our long-term strategic focus, such as healthcare and housing.”
