UKREiiF | Axis-RE, Marco Living acquire site in Lancaster for £100m mixed-use scheme
The firm has bought Lanmara Developments and with it a three-acre chunk of the city’s Canal Quarter that could accommodate a 300,000 sq ft commercial scheme.
Axis-RE claims the Brewery Lane site has a potential GDV of £100m. A planning application is expected within the next nine months and the developer has held talks with Lancaster City Council at UKREiiF today.
The deal sees Russ Worthington, one of Axis-RE’s co-founders, reacquainted with a site he had control of as a director of Lanmara between 2017 and 2019.
He described the acquisition as a “full circle moment”.
“I’m very pleased to share that we’ve secured a key Lancaster site for a major mixed-use regen scheme. This one feels personal.
“I was born and raised here, and still live locally. I’ve seen firsthand how this site, once full of promise, has sat idle through a series of false starts and missed opportunities. When the chance came to step in and do something different, something better, we took it.”
Axis will deliver the scheme in partnership with Marco Living. Elsewhere in the North West, the developers are working together on 1NQ, a 261-apartment scheme in Manchester’s Northern Quarter.
“This isn’t just another mixed-use scheme, it’s regeneration with roots,” Worthington added.
“A plan shaped by local knowledge and a genuine connection to the area. The intention to deliver something that works for Lancaster, not just for the development team.”
