Lincoln’s Waterside Shopping Centre has secured long-term lease renewals from major retailers following a £3 million investment programme by joint owners Wykeland Group and Lincolnshire Co-op. The initiative, completed in less than two years since acquisition in June 2023, has reinforced the centre’s positioning as a key retail destination.
H&M has renewed its lease and committed an additional £2 million to upgrade its anchor store. Next and The Body Shop have also signed extended leases, signalling retailer confidence in the centre’s future. The roster of tenants is being further expanded with the arrival of luxury lifestyle brand Rituals, which is set to open a new store imminently.
Alongside lease renewals, the investment has included improvements to the customer experience and centre infrastructure. Seven Districts Coffee introduced a new independent coffee shop as part of the enhancements. The centre’s entrance on Lincoln High Street is also being reconfigured following the acquisition of two adjacent units, creating a more accessible and visually appealing frontage.
Waterside has undergone a complete rebrand to modernize its image and broaden its appeal. Since the refurbishment began, footfall has increased by 3% in 2024 compared to 2022, outperforming national trends in high street retail traffic.
The 130,000 sq ft shopping centre now includes a mix of high-street retailers such as New Look, Superdrug, O2, Office, and Skechers, in addition to the anchor tenants. The investments aim to ensure the centre’s continued resilience in a challenging retail climate and support Lincoln city centre’s broader economic ecosystem.
