Lancashire midbox scheme secures forward funding
Investors Arrow Capital Partners and Cerberus Capital Management have forward funded Phase 2 of Farington Park in Lancashire to provide 96,000 ft2 of midbox warehouse space.
By Liza Helps, Property Editor, Logistics Matters
THE INVESTORS have completed a development agreement with Caddick for the delivery of the four unit midbox logistics scheme, in one of the first speculative forward-funding transactions in the North West this year.
Construction of phase two will commence imminently, with Caddick Construction’s North West team starting on site. The development represents the final phase at Caddick’s 50‑acre Farington Park site, following the completion of more than 550,000 ft2 of industrial and logistics space in 2023.
The development will target BREEAM Excellent and EPC A ratings, incorporating a range of energy‑efficient and ESG‑led features such as photovoltaic panels, solar‑ready roofs, cycle and EV charging infrastructure.
Once complete, the overall scheme will have supported the creation of up to 1,100 jobs and generated approximately £2m in annual business rates for the local area.
Caddick Developments associate director Tom Park, said: “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. Arrow Capital Partners was advised by Christopher Dee.
