Developers HBD and Barnfield Group have bought a 61.7-acre site in Lancashire to develop a £65 million industrial and logistics scheme totalling 800,000ft².
The site is the developers’ second joint venture in the region following the success of their 18-acre EAST development which was sold to Titan Investors last year for £30 million.
Planning proposals for the new scheme were submitted last year and, if given the green light by planners, infrastructure works could commence in the autumn. The development has the potential to create around 1,500 new jobs.
Ed Hutchinson, Managing Director of HBD, said: “It’s great to be able to continue our successful partnership with Barnfield with the acquisition of this latest site. The deal reflects HBD’s continued focus on delivering high-quality, sustainable industrial and logistics space in prime locations.”
HBD and Barnfield Group have worked closely with Preston City Council since 2020 when pre-application discussions began. A range of technical experts and specialist consultants have provided a host of assessments covering flood risk and drainage, ecology and arboriculture, highways, acoustics, geology and geo-environmental considerations.
Advisors on the deal included JMW Solicitors, Gerald Eve and Eckersley & Co who all acted for the purchaser. Young & Co Property Consultants acted for the vendor.