Euro Garages has bought a 90-acre greenfield site in Whiteburke which has outline planning consent for a 1m sq ft employment park. The site was on the market at a guide price of £10m.
Praxis was granted planning permission was granted by Hyndburn Council in October 2015, for a mixed-use scheme, known as Frontier Park, which incorporates industrial and distribution units, in addition to 35,000 sq ft of hotel, food and leisure space.
Frontier Park is part of Lancashire’s strategic economic plan which aims to generate almost 10,000 jobs and more than £500m for the local economy in East Lancashire through key employment sites such as Frontier Park.
The initial phase of construction is set to begin in 2016 with the first building occupied by the end of 2017. It is envisaged that the entire development will be completed within five years.
Aherne Property Consultants has acquired Frontier Park on behalf of Euro Garages.
Zuber Issa, chief executive of Euro Garages, said: “This is a strategic purchase to support the ongoing expansion strategy of our business, which has grown significantly in recent years. We will be bringing forward the first phase of development as soon as possible comprising a typical Euro Garages petrol station, convenience food, drive-through Starbucks and KFC restaurant. In addition, we have earmarked the site for further development opportunities including a relocation of our head office from Blackburn and new conferencing facilities. Once these facilities have been delivered we will be offering the balance of the site to the market.”
Andrew Aherne of Aherne Property Consultants said: “We are pleased to have successfully acquired this site for which there was significant competition from property developers and investors. The level of interest demonstrates the strategic importance of this prime site which when brought to the market will offer the best development opportunities on the M65 in South Lancashire.”
Robert Dunston of GVA Bilfinger and Caroline James of Trevor Dawson represented Praxis in the disposal of the site.