Caddick ties up forward-funding deal at Farington Park

Arrow Capital Partners and Cerberus Capital Management will underwrite the delivery of phase two at the industrial Lancashire scheme, comprising 96,000 sq ft across four detached units.

Boasting access to the M6, M65 and M61 close to Leyland, Farington Park has been positioned to meet growing occupier demand for high-quality mid-box industrial and logistics space across the region, Caddick said.

The deal value is undisclosed.

Caddick Construction’s North West team will start on site in mid-May. The development represents the final phase at the Yorkshire group’s 50‑acre Farington Park site, following the completion of around 550,000 sq ft delivered for Victorian Plumbing in 2023.

The phase two units will range from 14,750 sq ft to 33,000 sq ft. The development will target BREEAM Excellent and EPC A ratings.

Caddick has made a £500,000 investment in local ecological and community assets delivered as part of its earlier work. On-site amenities on offer include a seven-acre park, upgraded public rights of way, outdoor gym facilities, walking paths, cycle storage and electric vehicle charging points. Upgrades will be made to the walking and cycling routes delivered in phase one.

Cormac Dunne, head of real estate, Europe at Arrow Capital Partners, said: “We are delighted to add another high-quality UK asset to our SIRE portfolio.

“To date, the portfolio has delivered in excess of 6m sq ft of sustainable, Grade A logistics space globally, and the team is seeking further development sites across the UK and Europe to build on that momentum. We look forward to working with Caddick to deliver a best in class scheme in a supply constrained market.”

Tom Park, associate director at Caddick Developments, said: “Securing funding for Phase 2 of Farington Park marks another significant milestone, and we’re delighted to be working with Arrow and Cerberus to progress the scheme at pace.

“The site’s excellent motorway connectivity, combined with high-quality sustainable design, reinforces our commitment to delivering industrial space that offers more than a traditional warehouse solution.

“Phase 2 brings much-needed mid-box accommodation to the market and will play an important role in supporting regional growth, employment and evolving funder and occupier demand.”

Caddick was advised by JLL, with Chrisopher Dee representing Arrow Capital Partners.