Siemens will stay for another 10 years at the Ruston Works site in central Lincoln after it signed a new lease with developers St Modwen.
More than 800 people are employed in the design and manufacturing of industrial gas turbines at the 735,ooo sq ft, 23 acres facility occupied by Siemens’ Industrial Turbomachinery business.
Siemens has also extended its lease at St Modwen’s Firth Road site in Lincoln. Its neighbour ITP, a precision engineering company operating in the aerospace industry and a subsidiary of Rolls Royce, has also agreed a new 10 year lease with St Modwen on its 30,000 sq ft facility.
Siemens also has the 135,000 sq ft gas turbine service centre servicing unit at Teal Park, developed by St Modwen in 2012 to allow the firm to consolidate the servicing business from four locations in the city to one.
Rob Richardson, Senior Development Manager at St. Modwen, said the move is great news for Lincoln and the wider region as it secures high value engineering jobs and extends Siemens’ commitment to the city.
Shaun Cray, Head of Real Estate at Siemens, said: “We are pleased to have successfully completed the lease renewal process and to continue our ongoing positive relationship with St Modwen.”
In late 2016 St Modwen also acquired Network 46, one of Lincolnshire’s main strategic employment sites off the A46 near Witham St Hughs.
The first phase of new warehouse and manufacturing space is underway, totalling 95,000 sq ft, on the 57 acre site as it looks to tackle the shortage of quality manufacturing and warehouse in the region.
SUBSCRIBE to Business Week, the new email newsletter from The Lincolnite and Lincolnshire Reporter, bringing you weekly features, analysis and a news roundup of the top stories by Stonebow Media. Sign up free to receive it every Thursday morning in your inbox. We won’t spam you or share your details with third parties, we promise!