A 1 million sq ft business park at Whitebirk in Lancashire has been given the go-ahead after Hyndburn Borough Council approved plans submitted by Praxis Holdings.
Praxis, whose UK land bank totals around 500 acres, has secured planning permission for a mixed-use scheme of industrial and distribution units, together with around 35,000 sq ft of hotel, leisure and food space.
The development, known as Frontier Park, will transform an 85 acre site adjacent to Junction 6 of the M65 into a significant economic hub which is expected to create in the region of 2,000 jobs.
Early indications suggest that the park will prove popular with businesses, as Praxis has already pre-let the five acre roadside element of the scheme to a range of nationally branded occupiers, including a budget hotel operator, a drive-thru and a filling station.
Frontier Park is a key component of Lancashire’s Strategic Economic Plan which aims to maximise the economic potential of the region. The Economic Plan identifies the potential to generate almost 10,000 jobs and over £500 million in revenue for East Lancashire through key developments like Frontier Park.
Gabriel McLaughlin, Director and Head of Asset Management at Praxis, said: “Frontier Park is a major development proposition that is not only exciting for us as developers, but also for Lancashire given it will create thousands of jobs for local people and encourage substantial inward investment.
“Now that we have secured planning permission we intend to hit the ground running to turn these plans into a reality. We will continue to work closely with the council, as well as local businesses and communities, to maximise the potential of this site and attract high-quality commercial occupiers.”
With planning permission secured, Praxis intends to begin preparatory work on site by the end of the year with the initial phase of construction scheduled start in 2016. The first building is expected to be occupied by the end of 2017, and it is envisaged the entire development will be completed within five years.
Ancer Spa acted as Praxis’ planning consultants on the scheme. GVA and Trevor Dawson are the joint agents.
Previous Post
Peakside adds Mixed Use Berlin Asset to Fund Portfolio
