Why we're unique
Simplifying and speeding up the industrial development process, whilst providing more flexible financing at competitive rates. Don’t miss this opportunity to kickstart your development.
Industrial property development saw a considerable boom in the North West in the first half of 2021, with the value of transactions having tripled and occupier take-up having almost doubled in the same period. This is evidenced by the fact that occupational take-up of larger industrial and distribution units (over 90,000 square feet) reached a record 3.3 million square feet – up from 2.3 million square feet in the first half of 2020, with another 3.7 million square feet under offer.
Now consider this: Lancashire is one of the largest economies in the UK, with 52,000 businesses generating £32 billion per year. The region also has the greatest concentration of aerospace production in the UK and is known for being a leader in manufacturing innovation.
The Lancashire Urban Development fund has been set up to embolden the development of industrial workspace in Lancashire. Out of the overall £20 million available, £6 million has been allocated to various developments across the region.
There’s still a further £14 million available for financing. If developers don’t apply now, the remaining monies will be returned to HM Treasury and Lancashire will lose out.
Apply today to avoid missing out on financing for your project.
What makes us different
Lancashire-specific funding: The funding is dedicated to commercial workspace in Lancashire and cannot be extended to other regions, such as Merseyside, Greater Manchester and Cumbria. This means a greater focus and impact for Lancashire.
Risk appetite: Speculative development is known for being high-risk, often requiring a greater equity investment and higher margins. Lancashire Urban Development Fund has the ability and appetite to take more risk than traditional lenders. We are keen to lend to speculative developments that meet the fund’s criteria.
Flexible, reliable lending terms: While Lancashire Urban Development Fund will lend on commercial terms, it is still flexible and can be tailored to meet the requirements of specific projects in order to help enable viability. The team behind the fund is strategic, focused and stable. This means that funding won’t be withdrawn in the 11th hour, as other lenders may.
Unlocking stalled projects: It’s commonplace for industrial development projects to stall due to lost funding. Lancashire Urban Development Fund will work with developers and advisors to identify stalled industrial projects in Lancashire and kick start their development.
Complementary to other funding streams: Lancashire Urban Development Fund can complement and add value to other existing funding streams in Lancashire, such as Boost Business Lancashire (Lancashire’s Business Growth Hub), Growing Places Fund and Growth Deal. This creates an additional layer of support for the development of physical infrastructure and workspace that will create sustainable growth and impact on the economy and high-growth businesses in Lancashire.
Rebuilding local economy: Lancashire Urban Development Fund aims to inject £20 million into the local economy by developing new employment space, whilst also creating and retaining jobs in the region. This is in line with the Lancashire County Council’s vision to rebuild the local economy and drive sustainable growth post COVID-19.
Benefits of working with the Lancashire Urban Development Fund
- Clarity on criteria: Other lenders can be vague or unclear about their eligibility criteria. Lancashire Urban Development Fund doesn’t do this – it provides clear, useful information on the fund’s criteria and objectives.
- Simpler, faster process: Securing funding for industrial development projects can be a difficult and drawn-out process, compared to residential development. Lancashire Urban Development Fund aims to reduce the time it takes to secure funding, while accelerating loan commitments.
- Proactive support: Lancashire Urban Development Fund can provide capital to fill finance gaps for private sector developers seeking to build commercial workspace in Lancashire and invest in developments that may otherwise not be granted funding.
- Timely, cost-effective delivery: The fund has a designated timeline to commit loans. So, it will be conscious of your time and work diligently to deliver projects on time and on budget.
- Stability: The team behind the Lancashire Urban Development Fund has over 20 years of experience in commercial property development throughout the UK. The team will act as a natural extension of your team to deliver a quality end-product.
Lancashire Urban Development Fund is brought to you by
Contact us
Want to find out more information about the Lancashire Urban Development Fund?
Click here to submit a general enquiry or apply for the fund here.