Wykeland go it alone at Waterside

Lincoln’s Waterside centre has been taken over by the property developers, Wykeland Group.

The city centre shopping mall has been owned by Wykeland and Lincolnshire Co-op in a joint venture since June 2023, which saw a £3m refurbishment programme.

Wykeland has now taken full ownership to continue to build on Waterside’s status as a key destination for visitors, a move it describes as ‘a vote of confidence and its ‘attractiveness as a vibrant and fully let retail and leisure centre in a thriving city’.

The 130,000 sq ft Waterside centre features leading retailers, including H&M, Next, Rituals, The Body Shop, New Look, Superdrug, Accessorize, O2, Office, Trespass, and Apple Premium Partner, Select.

Wykeland Managing Director Dominic Gibbons 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 it has 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, said: “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.”

Renewed confidence in the centre has been highlighted by a trio of leading retailers, H&M, Next and The Body Shop, committing to new, or extended leases, ensuring they will remain in Lincoln city centre for years to come. 

Premium beauty and lifestyle brand Rituals has opened its first Lincolnshire store at Waterside, while Lincolnshire-based Seven Districts Coffee also came on board, occupying a newly-created, coffee shop in the heart of the centre. 

Pictures: Photography John Aaron