City business centres popular with start-ups

Most of the business incubation centres in Lincoln are almost fully-occupied, according to statistics from the City of Lincoln Council and County Council.

The Terrace’s occupancy rate is at 88%, Greetwell Place at 94%, and Enterprise @ Lincoln (University of Lincoln) is currently at 82% occupancy.

The only business and innovation centre in Lincoln to have a low tenancy rate is the Think Tank on Ruston Way (pictured), which lies half empty.

In Lincolnshire, a similar trend was noticed, mainly in Boston, Louth and Skegness.

Boston Enterprise Centre is 84% full, the Fairfield Enterprise Centre in Louth has let 82% of its units, and Skegness Business Centre is 95% full.

“The number of businesses that we support through our centres has increased significantly,” said Will Bedford of Lincolnshire County Council.

“Our support programmes have enabled numerous businesses to improve their performance or cut costs,” he added.

Prices are also an indication of tenancy rates. Rentals at the Think Tank start from £736 per month, while at The Terrace they start from £207 per month.

“One advantage of taking up office space in one of our centres is that we offer month in, month out tenancies,” said Rob Smith of the City of Lincoln Council.

With no long term contracts, “businesses can test the water without being burdened by a long and onerous lease,” Smith explained.

“We have also seen a significant rise in tenants in the last six months, and we are really pleased,” said Vicky Addison, the Incubation Manager of Enterprise @ Lincoln.