Work has started on Phase 6 of Lincoln Enterprise Park following the sale of its biggest single unit to date.
Following 12 months of growth, Christmas decoration business Fizzco, currently based in Fillingham, has purchased 10,000 square feet of warehouse and office space on the site at South Hykeham.
The move to larger premises, which has come earlier than planned, will enable the business to expand its operations and take on more staff to service its expanding customer base.
Nicholas Falkinder, Managing Director of LEP Developments who co-owns the park, said: “When we set up the park 14 years ago, one of our key aims was to boost the local economy and support job creation in the area which is why we’re so pleased to welcome Fizzco.
“The company will be our single biggest owner/occupier to date and marks a milestone in the park’s success.
“Lincoln Enterprise Park (LEP) is unique in that it supports a range of businesses and unit sizes, from growing start-ups to SMEs with an equal mix of both leasehold and freehold properties. Because of this we’ve been able to facilitate the expansion of many of our tenants who have progressed from leasing to purchasing, something we’re very proud of.”
Construction work got under way on Phase 6 last month and will be complete by the summer this year.
One of the owners of Fizzco, Wendy Clarkson, said: “We’ve had a really busy 12 months and our turnover has grown by a record 25%. Although the move has come sooner than we originally planned, we couldn’t pass up the opportunity to own our own premises.”
The new site will include a pick, pack and dispatch facility to service the company’s online retail clients as well as a flagship showroom where commercial clients can see some of their larger products, such as a 5m bauble, on display.
In anticipation of the expansion, Fizzco has already appointed a new project manager and an operations manager and expects to recruit more staff in the future.
The company has several consumer and commercial brands under the Fizzco umbrella including Fizzco Projects which specialises in the design, manufacture and installation of Christmas decorations in shopping centres and ChristmasTimeUK which is its online retail arm.
Following the sale of Phase 6 to Fizzco, LEP Developments Ltd has submitted plans to North Kesteven District Council for Phase 7. If approved, the expansion could consist of up to 21 units ranging in size from 975 sqft to 5000 sqft.
Nicholas added: “Phase 7 will give us an additional 36,000 square feet of office, light industrial and warehouse space which will be available to buy or lease depending on the individual businesses requirements.
“We’ve already received strong interest from existing and potential new occupants wishing to expand either by purchasing freehold or leasing additional space, which is really encouraging.”
Andrew France of Lambert Smith Hampton, agents for LEP Developments Ltd, brokered the deal.
He said: “We were appointed to act, identified Fizzco as a suitable purchaser, arranged a viewing of the site and agreed terms all in the same day!
“Demand for industrial property in and around Lincoln remains strong with reducing supply to meet it. We regularly receive enquires regarding future availability at Lincoln Enterprise Park, with applicants being placed on a waiting list. Phase 7 will be in high demand if planning is consented.”
A decision on Phase 7, which it’s anticipated would create up to 36 new jobs, will be made in May of this year.