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Lancashire

Leyland boost for North West industrial market


Lancashire, 22 February 2013 - Development has commenced at Lancashire Business Park in Leyland, with the largest new industrial and logistics scheme to take place nationwide, since the onset of the economic downturn.

The scheme by Lancashire County Developments Limited will replace a 450,000 sq ft building which was destroyed by fire in December 2011.

The business park is owned by Lancashire County Council's economic development company - Lancashire County Developments Limited.

Construction works are well advanced, with the first units to be completed for July/August this year.  Three buildings are to be constructed, providing in total 390,000 sq ft.
 
Two adjoining units (12m clear headroom) of 166,000 sq ft can be combined to provide 332,000 sq ft  in total, or can be subdivided from 80,000 sq ft.
 
The third unit (6m clear headroom) provides 50,000 sq ft and can be subdivided from 5,000 sq ft.  Planning permission has been obtained for a fourth unit of 60,000 sq ft currently available on a build to suit basis.
 
Lambert Smith Hampton and Jones Lang LaSalle have been instructed in the marketing of the scheme by Lancashire County Council.
 
Discussions are also ongoing with the two existing tenants about continuing their tenancies.
 
County Councillor Michael Green, Cabinet Member for economic development, environment and planning, said: "We are delighted to be at a very advanced stage with this major new development.  We believe it will provide a huge boost for both manufacturing and logistics businesses based in Lancashire and the wider North West region.
 
"The business park is just one of the ways in which the county council is supporting growth and economic development in the county.  We also fund businesses through long-running and successful schemes like Rosebud, as well as a pioneering new online pilot with Funding Circle."
 
County Councillor Michael Welsh, Chairman of Lancashire County Developments Limited, said: "The appointment of agents marks an important new stage in the reconstruction and upgrading of the Lancashire Business Park, following the catastrophic fire in December 2011.
 
"We are now in a position to offer three state-of-the-art buildings with first class access in an excellent location close to the motorway network.  The construction has gone ahead at a rapid pace and the result is a most welcome and timely upgrade to Lancashire's commercial infrastructure."
 
Andrew Aherne, Director of Lambert Smith Hampton, comments: "There is a real shortage of available new/modern manufacturing and logistics buildings across virtually all size ranges in the key locations of the North West."
 
"Over 5m sq ft of new speculatively built  Big Box Logistics buildings, which were developed prior to the downturn, have now been taken up and there will shortly be no new buildings of 100,000 sq ft and above available in the North West as a whole."
 
David Brooks, Director of Jones Lang LaSalle comments: "With the lack of funding for new speculative development remaining tight for the foreseeable future, we envisage that the problem being experienced with the shortage of supply buildings will become more acute.  Lancashire Business Park is well serviced by the North West motorway network, lying within 1.5 miles of the intersection of the M6, M61 and M65 motorways."
 
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