Regeneration for Lancaster city centre - commercial mortgages

05 June 2007

Lancaster city centre is to undergo an extensive redevelopment which is expected to attract new businesses to the area, including those prepared to take out commercial mortgages for new premises.

Developers Centros Miller has outlined plans to regenerate the city centre across a ten-acre space, with particular focus on retail developments. In total, there will be 300,000 square feet of new shopping in addition to new pedestrian areas.

As well as retail space the project will also see the development of new townhouses and apartments, meaning that residents as well as businesses will be able to take advantage of new opportunities.

David Lewis of Centros Miller is confident that the new development will bring positive developments to the local economy.

"The aim of this vibrant new development is to re-establish the city centre as an exciting shopping destination for residents of northern Lancashire and southern Cumbria," he told Property Executive.

"The scheme will provide a place to shop, live, eat and be entertained, in a safe, attractive environment."