Lincoln

Waterside, Lincoln

RivingtonHark were  brought in by Tesco Pension Fund as Asset and Development manager on their  Waterside Shopping Centre in Lincoln

About Waterside Lincoln

The scheme comprised 130,000 sqft of retail space over 2 levels , 27 retail shop units and  bingo hall . As a shopping centre it was significantly underperforming and at risk of further decline.

Over a 3-year business plan period we successfully turned the asset around by:

  • 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.

Project Details

Services provided
Asset Management / Leasing Management

Mix of Uses

Retail

Retail

Car park

Public Realm

Food & Beverage