Lincoln

Lincoln Science & Innovation Park buys adjacent office block for £4m

Lincoln Science & Innovation Park Ltd has completed the purchase of an office on its doorstep worth over £4million.

Hestia House, on Ruston Way, Lincoln is next to the innovation park and is entirely let to the Barbon Insurance Groups Ltd, who have a lease on the building until 2027.

Lambert Smith Hampton and Banks Long & Co announced today (October 27) that the 26,331 sq ft building had been sold.

The innovation park is a joint venture of businesses owned by the University of Lincoln and Lincolnshire Co-op, focusing on creating an environment for business growth and employment opportunities.

Lincoln Science & Innovation Park Director Tom Blount said: “As a business local to the building, we are confident that this part of Lincoln is on the up. Therefore we have real confidence in the potential for this as an investment property.”

“As a site specific developer, we are always interested in properties near our main site but, on the whole, our mission is to regenerate our site, rather than take on additional investment properties.”

“We would obviously like to work with the tenant to help them consolidate their base in Lincoln and support local employment. We look forward to working with the company long into the future.”