Standard Life Investments’ proposed £150m redevelopment of St Marks has received outline planning permission from the City of Lincoln Council. The proposals include enhanced retail, new leisure space, better public realm, improved car parking, and a combination of student and residential accommodation.
The consent provides for 485,000 sq ft of new retail and leisure as well as 150 new residential units; 1,100 new student residences; a 130-room hotel and an 1,100 -space car park.
David Stewart of Standard Life Investments said: “This is a tremendous outcome and we’re thrilled that that the council supports our vision for St Marks. Their decision reinforces our conviction that the proposed scheme will be a major boost for Lincoln. It’s a significant investment that we’re confident will improve the gateway to the city centre.”
The next steps for the project will include developing detailed designs and a timeline for delivery. Once these and other key milestones have been achieved, work could potentially begin in 2020 with the full scheme being completed by the end of 2023 or early 2024.