Takeaway food firms set move into new City premises
A fish and chip shop is to open in one of two new commercial units in the north of Lincoln.
Lincoln agents, Banks Long & Co report that an exciting new development on Outer Circle Road in Lincoln, by developers Lincoln Corn Exchange & Markets (a subsidiary of the Lincolnshire Cooperative Limited) will shortly be completed. Situated next door to the Bowlo public house and an existing Domino Pizza outlet, the development comprising two retail units, is due for completion early next month, shortly after which they are expecting the two occupiers to take possession to begin fitting out. The Agents report that one of the operators has already now signed up, whilst the other is expected to do so any day. The operator already signed up is the Starfish Group a West Midlands based company who operate a chain of fish and chip shops. The company have also recently signed up to take another unit in Sleaford, also owned by the Lincolnshire Cooperative Limited. The operator expected to take the second unit is a well known national fast food operator with a number of existing outlets already open in the city.
James Butcher of agents Banks Long & Co comments “We are very pleased that both the tenants will be ready to take occupation of the units on completion next month. The fact that they are both food outlets is not surprising, as they will be able to ‘feed off’ the large residential catchment and in the present economic climate, the fast food/takeaway sector is one of the few areas of the property market that is experiencing any growth, with a number of companies including McDonald’s and Domino Pizza both having recently reported strong trading results and plans for expansion over the next 12 to 18 months. This new development by Lincoln Corn Exchange & Markets represents a further investment by the company in this part of Lincoln and following their development of the Carlton Centre Retail Park/Neighbourhood Centre opposite, which is the largest commercial development north of the city centre. The Carlton Centre still has planning permission for development of a further 13,716 sq m (40,000 sq ft) of retail warehouse space, although there are currently no plans to build this out until an occupier can be found for at least part of it. Discussions remain ongoing with a number of retailers regarding this new space although in the current difficult economic climate, we are not anticipating being in a position to progress this in the short term.” They are however planning a number of improvements to the Carlton Centre, including replacing the signage and are looking at creating a number of smaller retail units, that will help upgrade the appearance of the Centre.
