The Waterside shopping centre is a 130,000 sq ft 2 level scheme in the heart of Lincoln.

Comprising 27 units and a bingo hall, it was underperforming with high vacancy, and low footfall.

It sits adjacent to the Rover and part of the main high street. The entrances were dark and failed to draw people in. A cost-effective refurbishment was completed, which improved sight lines, re-modelled the rear, and successfully saw the scheme let up.

We achieved the fund’s KPI’s on completion of our 3 plan.

Over a 3-year business plan period we successfully:

• Completed selective and cost-effective refurbishment of entrance
• Re-anchored the asset with key flagship store development and lettings
• Leased remaining space
• Created a cultural/community hub

The result

• Footfall up average 15% week-on-week vs negative national trend
• NOI increased and asset stabilized

Having completed our role we handed the scheme back to the fund in 2019, and in that year it was their best performing retail asset.