A joint partnership of Lincolnshire Co-op and property developer Wykeland Group has acquired Lincolnshire's Waterside Shopping Centre.
The undisclosed deal sees the two organisations come together in a 50/50 split to take control of the 130,000 sqft property, which is 95 per cent let and includes big name retailers such as H&M, Next and New Look. Announcing the move, the partners said they will focus on running the centre primarily as a retail location while also looking to develop its leisure offering.
For the 300,000-member Lincolnshire Co-op, it follows its Cornhill Quarter development in the city, which is regenerating Sincil Street, City Square and the Corn Exchange. Meanwhile Hull-based Wykeland - which has a £500m development pipeline in Yorkshire and Humber - has worked in partnership to develop and manage locations such as the Fruit Market urban village in Hull and the Treadmills mixed use scheme in Northallerton.
