First phase of £40m Lune Business Park completes

Hurstwood Holdings has delivered 34,000 sq ft of speculative industrial units at the 23-acre estate off New Quay Road, west of Lancaster city centre.

The Manchester-based investor holds a portfolio worth more than £300m of commercial and residential assets on 150 sites nationwide housing over 1,000 occupier clients.

Hurstwood’s own construction team built the industrial units for phase one of the wider project.

Spread across three blocks, the units range in size from 1,150 sq ft to 2,900 sq ft with the possibility to accommodate immediate requirements up to 20,000 sq ft.

Sam Ashworth, project director at Hurstwood Holdings, said: “The completion of this first phase marks an exciting milestone in this scheme and we look forward to welcoming the first new tenants to the park.

“The exceptionally high standard of industrial units that we have created at Lune can accommodate multiple uses and, importantly, address the lack of available product in the area.”

The company acquired Lune Business Park in 2005 for its redevelopment, which will also see the creation of a convenience store, nursery, café, and pharmacy in later phases.

When finished, the estate will offer floorplates from 1,000 sq ft up to 100,000 sq ft.

Plans also include a new bus service connecting Lune to Lancaster city centre and surrounding areas.

Funded by a £50m refinancing deal with Rothschild & Co, the £40m scheme was granted planning permission in November 2021 with work starting early last year.

Baldwin Design Consultancy drew up the masterplan for Lune Business Park, while Broadgrove Planning was the planning consultant.

Chloe Ellerby, associate director at Hurstwood, is managing the letting of the completed units. Taylor Weaver and Savills are retained as joint letting agents.