Arrow Capital Partners and Cerberus Capital Management have completed a development agreement with Caddick Developments for the delivery of Phase II of the Farington Park mid-box logistics scheme near Leyland, Lancashire.
The scheme will deliver 96,000 sq ft of Grade A space across four detached units ranging from 14,750 sq ft to 33,000 sq ft with construction commencing imminently.
The units will incorporate a range of energy efficient and ESG‑led features such as photovoltaic panels, solar‑ready roofs, cycle and EV charging infrastructure. Caddick is targeting BREEAM Excellent and EPC A ratings for the units.
The development represents the final phase at Caddick’s 50‑acre Farington Park site, following the completion of more than 550,000 sq ft of industrial space in 2023.
Cormac Dunne, head of real estate, Europe at Arrow Capital Partners, said: “We are delighted to add another high quality UK asset to our SIRE portfolio. To date, the portfolio has delivered in excess of 6m sq ft of sustainable, Grade A logistics space globally and the team is seeking further development sites across the UK and Europe to build on that momentum. We look forward to working with Caddick to deliver a best in class scheme in a supply constrained market.”
Tom Park, associate director at Caddick Developments, added: “Securing funding for Phase II of Farington Park marks another significant milestone, and we’re delighted to be working with Arrow and Cerberus to progress the scheme at pace. The site’s excellent motorway connectivity, combined with high quality sustainable design, reinforces our commitment to delivering industrial space that offers more than a traditional warehouse solution. Phase II 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 and Arrow Capital Partners was advised by Christopher Dee.
