Teal Park in North Hykeham is now beginning to find potential occupiers for its various units.
At present, Teal Park will definitely house Siemens’ turbo machinery sector, but the retail and business park has also seen interest from other businesses.
Plans are in place to build a number of small offices, factories, a pub, a hotel and other retail space on the 87 hectares of land.
Meanwhile, work on the A46 bypass to help ease congestion surrounding Teal Park progressing quickly, with the Whisby Road/Kingsley Road roundabout already complete.
Hodgson Elkington LLP is the sole agent for Taylor Lindsey Limited who own the Teal Park development.
Senior partner Sam Elkington said: “Works are proceeding rapidly on both the A46 bypass upgrade and the Siemens development at Teal Park.
“Now that potential occupiers of Teal Park can see development work taking place and know that the bypass upgrade is nearing completion, they can see that this project is for real and that Lincoln really is the home of the East Midlands Premier Employment Park.
“We have received a number of enquiries which we are progressing and whilst it will clearly take time to bring these to fruition, it is encouraging that even in these extremely testing times, potential occupiers are showing genuine interest in the development.”
Taylor Lindsey director Robin Taylor added: “I am delighted with the progress that is being made with both the highway upgrade and the building works on the Siemens relocation site.
“With these two elements of the project going according to plan, we will, by the end of this year, have the East Midlands Premier Employment Park up trading and open for business.”
The work being done to the bypass is expected to be finished in Autumn 2012, while Siemens’ building will be finished by the summer.
It is thought Teal Park will bring half a billion pounds to Lincolnshire once it is complete, while safeguarding 500 jobs — although thousands of jobs could be created.