A hub of business distribution in the East Midlands
Situated in the East Midlands, Lincoln is a very promising region, that as yet, has not been hit by the ripple effect of price rises spreading outwards from London.
The property market figures for the district are very encouraging, with the cost of residential property in the area currently at around 24% below the national average. With prices having risen by around 5% in the last year.
The population of the region currently stands at around 130,200 and have risen at about 1.6% over the last year.
Employment figures are just above the national average. However, with the area having a large student sector, this has the effect of keeping the figures lower than they otherwise would be.
The main employment sectors within the region are public administration, education and health, which account for some 34% of the workforce. With distribution, restaurants and hotels accounting for another 25%.
Lincoln itself is the hub of its local network, and with good road links to and from the area, the local business parks are generally full to capacity. The area has seen an increasing demand for more commercial space to be made available.
As a result, Teal Park to the south of Lincoln is expanding to accommodate this need. Well-known businesses in the region include Lincat, Dynex Semiconductors and Linpac. That means Lincoln property investment is perfect if you're looking for a regeneration area for your portfolio.
Discover more with a Lincoln Property Investment Guide.
Economy & Employment
Lincoln’s economy lies in public administration, education, health and distribution.
Teal Park, an existing business park in Lincoln, is scheduled for expansion. Located in the heart of the city’s prime commercial and business district, the new development will offer 26,700 sq ft of industrial & warehouse units, in an effort to meet growing local demands. The 87.2-acre site has frontage to the Lincoln bypass (A46) and a new roundabout being built, will link the bypass with the new dual carriageway access road.
Lincoln is a popular tourist destination. In 2012 tourism to Lincolnshire raised £1.115bn in revenues from 14.4 million people visiting. Lincoln received around £152 million of this figure. That was a 4.8% increase in spending and 3% increase in footfall from the previous year. With improvements happening at Lincoln Castle the tourist economy looks set to grow.
Lincoln is planning a £100 million redevelopment of its retail offering.
The £29 million Central Lincoln Travel Hub scheme has been agreed. Plans include the creation of an integrated transport hub, new bus station improved train station, footbridge and a 1,000 space multi-storey car park.
The £100 million Lindongate development will create a 30,000 sqm ‘shopper’s paradise’ of new retail space together with connections to the new car park which will be located alongside the new bus station adjacent to the existing rail station. Cornhill will be opened up to stimulate a circular flow of shoppers from into Sincil Street and through the Waterside Shopping Centre which will have branches of Next and H&M after a £9 million revamp. Lindongate should complete by 2016-17.
Outline planning permission has been granted for a new 87 property residential development in Welton, to the north of Lincoln, with the developer investing around £500,000 toward the cost of infrastructure improvements.
Air: There are three airports within a 50-mile radius of Lincoln. Humberside Airport is 32 miles away, Robin Hood Airport in Doncaster is 35 miles, and Nottingham City Airport is 38 miles away – all under an hour by car. East Midlands Airport is 52 miles, with a journey time of around an hour and a quarter by road.
Rail: The region is served by Lincoln Central railway station, with services southwards to London and Peterborough, as well as Sheffield, Grimsby, Doncaster and Newark. Operators include East Midland, East Coast and Cross-Country trains.
Bus: Stagecoach, PC Coaches and CentreBus are just a few of the operators providing bus and coach services in and around the district. The central bus station is located on Melville Street in the city centre, offering easy access to the A15 and A51 roads, as well as the train station.
Road: Access to modern-day Lincoln is easy, with the A1 about half an hour away, linked by the newly improved A46, making journeys to the Midlands and the south even quicker than before. North and north-west bound traffic take the A15 (part of the old Ermine Street Roman road) to meet up with the M180 Motorway.
Lincoln has 7 primary, 8 secondary schools and 1 independent.
Notable institutions include: The Priory Academy (Lincoln School of Science and Technology), a co-ed comprehensive school, catering for day and boarding pupils aged 11-18. Graded as outstanding by Ofsted inspectors. Additionally, William Farr School (in Welton), a Church of England School that caters for Boys and Girls aged 11-18 is highly rated.
Further Education: Lincoln College is officially an outstanding establishment for further education, awarded the overall Ofsted inspection Grade 1. The campus facilities have recently been enhanced with a £37m investment in the new Deans Building; a state of the art sport and health centre. Higher Education: The University of Lincoln is in the top 50 in the league tables, thanks to the high quality of the academic and personal support available to students and the excellent way in which the university works with the rest of the city, including global employers. It is also ranked among the best in the UK for student satisfaction.
Shops & Leisure
Shopping: The main shopping and tourist areas stretch from St Marks Shopping centre in the south up to the Cathedral Quarter, known locally as Uphill. Downhill is connected to Uphill Lincoln by Steep Hill, voted Britain’s Great Street 2012. Steep Hill is as steep as its name suggests, but it is said to be well worth the walk!
Leisure and Culture: The City of Lincoln Council have invested £1.2 million in the substantial redevelopment of the Yarborough Leisure Centre, which was recently completed. It now houses a new gym and changing areas, sauna and steam rooms and a redesigned reception area, providing a classy modern feel. The studio is also being transformed into a state-of-the-art cycling studio. In terms of culture The Collection is a collaborative venture of Lincoln’s award-winning archaeology museum and its premier art gallery, The Usher Gallery found in the historic heart of the city.
Green Spaces: When it comes to green spaces, there are no less than seven country parks and green spaces to choose from. From the historic Arboretum to Hartsholme Country Park and its neighbour Swanholme Lakes Nature Reserve, there is plenty to explore.