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Lincoln National Grid site sold for £600,000

BNP Paribas Real Estate (BNPPRE) has completed the outright sale of a depot and former Gas Holder site in Lincoln on behalf of National Grid to Hawksmount Properties for a price in excess of £600,000.

The approximately 5.93 acre site on Clayton Road (LN5 8RE) has development potential for a range of uses (subject to planning). It was sold under a short term lease to Cadent Gas for the office/depot, workshop, stores, car park and yard located in the northern part of the site.

The remainder of the site was vacant and includes the site cleared of old gas tanks and the associated land used for parking, storage and access.

The site is located less than 2 miles from downtown Lincoln and is surrounded by several commercial and residential properties, as well as the Priory Academy LSST high school.

Alex Willis, Senior Associate Director, Development Advisory at BNP Paribas Real Estate, said: “The sale of this important site demonstrates the continued attractiveness of National Grid’s property portfolio, as well as the strength of the Lincoln and East Midlands markets. at large. Development sites in major cities such as Lincoln are currently in high demand, particularly where amenities, transport links and a skilled local workforce are readily available.

John Carter of Hawksmount Properties Limited said: “We were very pleased to acquire this attractive site in Lincoln and will continue to operate it in its current use as a warehouse/storage facility for the foreseeable future, but we will explore its potential for longer term alternative uses. term. We are currently looking for tenants for the 2 acres of open storage.

Hawksmount Properties is an investment/development company specializing in properties that present complex and complex land use and planning issues and the company is actively seeking similar opportunities.

BNP Paribas Real Estate and Shakespeare Martineau acted for National Grid. Browne Jacobson represented Hawksmount Properties Ltd.