Work starts on mixed-use development in Penrith’s town centre

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by Lin Freestone

An all Cumbrian team of designers, developers and contractors started work today on the revitalisation of Penrith’s town centre.

The project is a joint venture between developer Lowther Manelli Properties and Eden District Council.

After five years of careful preparation, Lowther Manelli was placed in the unfortunate position of possibly having to pull out because of soaring costs and the effects of the credit crunch.

However, Eden District Council agreed to renegotiate its agreement with the developer and the contracts were signed last week. The revised terms will see Lowther Manelli receiving a greater share of car park income. Eden District Council will receive less in rents under the new agreement.

The design combines residential and retail development to create a series of spacious and flexible squares where people can live, work, shop and relax.

The scheme will be anchored by a Sainsbury’s supermarket, and there will be 31 other shops, restaurants, cafés and bars. Also included are 199 apartments and houses of which at least 61 will be “affordable” homes.

The £80m New Squares development will be constructed by local firm Thomas Armstrong and is scheduled to open in October 2010.