Masterplan submitted for £35m mixed use scheme on existing business park
Hurstwood Holdings has submitted a masterplan for the partial redevelopment of Lune Business Park in Lancaster to create a new £35m mixed use scheme.
The proposed plans will provide a further 200,000 sq ft of new speculative industrial space alongside an on-site café, pharmacy, convenience store and a nursery.
Hurstwood Holdings acquired Lune Business Park more than 15 years ago and has successfully asset-managed the popular scheme throughout.
With planning permission expected in the first quarter of 2021, the new scheme will be developed in phases over the next four years with construction of the first phase due to start on site by Spring 2021.
All works will be undertaken by Hurstwood’s in-house specialist construction and development team.
Stephen Ashworth, chairman and chief executive of Hurstwood Holdings, said: “We have spent the last few months carrying out significant demolition and remediations works on site to clear several derelict and unused buildings.
“With floorplates from 1,000 sq ft up to 100,000 sq ft available and the opportunity to design and build bespoke buildings, we believe that this will be a unique opportunity for potential tenants to expand or relocate at the established park in the busy city of Lancaster.”
He added: “In line with our national investment programme, Hurstwood will retain full ownership and management of the entire park going forward.”
Based in Manchester, Hurstwood Holdings is a commercial investment group with more than £160m of commercial and residential assets on 100 sites nationwide housing more than 750 occupier clients.
