Developer acquires prime Cumbrian site with consent for industrial scheme

Preston-based developer Rayner Rowen Development (RRD) has completed the acquisition of a 20-acre site at junction 41 of the M6 motorway, close to Penrith in Cumbria, for an undisclosed sum.

The site, which is located within a five-minute drive to Penrith railway station and the town centre, has been purchased from PFK, under whose ownership outline planning consent was obtained for up to 236,000 sq ft of B1 B2 and B8 industrial space.

Located next to the east of junction 41, the site benefits from Penrith’s excellent transport network both north to south and east to west.

Andy Lavin, director at RRD, said: “This site is a great acquisition for RRD as we continue to grow our development pipeline.

“It is very rare for such a large, consented site adjacent to the motorway to come to the market and we are confident that it will attract not only local occupiers but also those from further afield wanting direct motorway access.”

“We are already in discussions with a number of parties who have shown interest, despite the site not having been opened up as yet, which is reflective of the high occupier demand we are seeing for industrial space across the region.”

He added: “We plan to open access to the site in early 2022, which will allow us to start detailing the reserved matters planning application and getting it ready to meet the current high level of occupier demand.”

Carlisle-based property agency, Walton Goodland, has been appointed as letting agent for the scheme.