Work has started on a new £3 million headquarters for an award-winning Lincolnshire engineering company.
Lincoln-based Chartered Surveyor Banks Long & Co and Lindum Construction have revealed that the groundworks for Greenray’s new building in Teal Park, North Hykeham, are underway.
Greenray’s success has seen it rapidly outgrow its current headquarters in Runcorn Road and sister premises in Pioneer Way and Sadler Road.
News follows hot on the heels of Greenray Capital – the firm’s parent company – receiving a prestigious Queen’s Award for Enterprise International Trade in recognition of its exceptional growth and commercial success in the energy sector.
Staff expect to move into their new, purpose-built, premises early next year.
Greenray Chief Operating Officer Norman Davies said: “We are committed to the Lincoln area. It is home to the majority of our workforce and Teal Park will be the centre of our business.”
A strategic partner to Siemens, which is also based at Teal Park, Greenray specialises in providing parts and servicing for “legacy” engines, leaving other engineering companies to concentrate on newer models, research and development.
“However, we are looking to diversify into other markets. Alongside our gas turbines business, we are also supporting the steam turbine and rotating equipment markets, together with an exciting new company called ACL Automation.”
Greenray has already forged long-term client relationships and works within framework agreements, which have seen its parts, servicing and upgrades supplied to over 36 different countries. Exports currently account for 64 per cent of its business.
“We are now exploring sales opportunities elsewhere in the world. Whilst we are currently working in Brazil, Venezuela, North America, Canada, India and Malaysia, we are confident of expanding into additional markets. South Africa, the Far East and Australia, are all emerging markets,” added Mr Davies.
Banks Long & Co Director William Wall said: “We are pleased to have helped to unlock this much-needed development at Teal Park, by facilitating the simultaneous land acquisition, agreement for lease, build contract and forward investment sale.
“This follows shortly after our involvement in delivering the adjacent Blackwood Court starter unit scheme.
“We pride ourselves on our ability to structure complex off-market deals and look forward to announcing further exciting developments in the coming months.”
Lindum JV Developments Director Stuart Mitchell said: “Lindum is delighted to be working in partnership with Greenray to deliver a flagship new headquarters for its business.
“The new offices and warehouse will provide 25,000 sq ft of space, bringing Greenray’s operations into a single site, allowing its business to continue to thrive and grow.
The £3 million investment to create this new facility is a sign of great confidence, both in Greenray’s business and the LN6 area, which is also home to our own operation.
Lindum and Greenray have worked very hard together to secure this investment, ensuring that construction works on the project could commence ready for the planned relocation in early 2017.
“We also recognise the valued help of Lincolnshire County Council, North Kesteven District Council, Taylor Lindsey and Bramall Properties in making this project a reality.”
North Kesteven District Council Leader, Councillor Marion Brighton OBE, has a special interest in economic growth and welcomed Greenray’s impending relocation, as a further initiative in developing the distinctiveness of the District’s northern edge as a place to do business, within the increasingly popular LN6 sector.
“The District Council is enormously proud and supportive of the expansive and varied range of growing businesses which have established in this area and we welcome this further expression of confidence and investment locally,” said Coun Brighton.
“As a Council we are enterprising in our ambitions to improve the trading fortunes and prospects of everyone, which is why we are so actively involved in the development of the wider Teal Park, including provision of our own business units alongside at Blackwood Court, which proved to be a catalyst for Greenway to relocate locally.
“North Hykeham is one of the region’s most attractive locations as a place to do business and as Council, we are working hard within an active partnership to promote LN6 and open further its potential for inward investment, expansion and growth.”
Lincolnshire County Council spokesman Paul Wheatley added: “High-tech engineering companies are vitally important for the health of the Lincolnshire economy, so the county council is pleased to have played a role in Greenray’s expansion plans, by selling them the land they require for their new premises.”
