Commercial property developer Wykeland Group has acquired sole ownership of Lincoln's Waterside centre, having previously held it in joint venture with Lincolnshire Co-op since June 2023.

During their partnership, the pair delivered a £3m investment programme to revitalise the 130,000 sq ft retail and leisure destination, including a more welcoming frontage and a rebrand giving the centre a more modern look. The change of ownership reflects Lincolnshire Co-op's strategy to refocus investment on housing and healthcare.

Hull-based Wykeland is the developer behind Beverley's Flemingate scheme and the £100m-plus transformation of Hull's Fruit Market waterfront.

Wykeland Managing Director Dominic Gibbons said: "Working with Lincolnshire Co-op to rejuvenate Waterside has been a very positive experience. 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 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 to develop Waterside, and we're proud of all that we've achieved together. Now's the time to transfer full ownership, allowing Wykeland to continue this great work, while we refocus our investment into areas such as healthcare and housing."

The fully-let centre is home to retailers including H&M, Next, Rituals, The Body Shop, New Look, Superdrug, Accessorize, O2, Office, Trespass and Apple Premium Partner Select. H&M, Next and The Body Shop have all recently signed new or extended leases, while Rituals has opened its first Lincolnshire store at the centre and Lincolnshire-based Seven Districts Coffee has taken a newly-created unit.