THE Leeds office of regeneration specialist St Modwen has secured a £20m deal with a global business.
Siemens PLC has agreed to move to land owned by the company in Lincolnshire.
The move will see Siemens bring together its gas turbine service operation from four separate sites in Lincoln to just one.
St Modwen will develop a new 135,000 sq ft facility at Teal Park in Lincoln for Siemens who have signed a 12 year lease.
St Modwen currently owns two of the four sites used by Siemens in Lincoln - at Firth Road and Ruston Works - and some of Siemens’ business operations will remain at Firth Road.
The move follows Teal Park and major A46 road upgrades getting outline planning permission earlier this year.
Siemens will now submit a detailed planning application for its new facility to North Kesteven District Council.
Siemens employs 500 people in Lincoln.
The new premises will consist of 50,000 sq ft of offices and an 85,000 sq ft state-of-the-art service workshop. There will be surplus land for future expansion.
Stephen Prosser, North East and Yorkshire regional director for St Modwen, said: “Siemens is our existing tenant, occupying our Firth Road property within Lincoln and we have spent considerable time understanding their operational requirements and what they need to achieve from this strategic relocation.”
St Modwen is the UK’s leading regeneration specialist.