Recession Busting Company Form Exciting Partnership

Date: 23.06.2010

Property Development and Construction Company Barnfield Construction has recently completed the purchase of Wardle Storeys manufacturing site in Earby.

Wardle Storeys has been trading from the 15.6 acre site for over 30 years have sold the complex to Barnfield in order to raise capital to invest in new state of the art machinery and equipment.  However, they will continue production from the site having signed a lease with Barnfield for 10 years.

Alun Hall, Managing Director of Wardle Storeys commented “In order to build up our business again we needed capital to invest into new machinery and plant.  Selling our land for a lump sum and leasing it back from a well established property development company like Barnfield is the perfect way to do this.”

Barnfield became aware of the opportunity to form a partnership as Tim Webber, Managing Director of Barnfield and Alun Hall are members of the Pendle Vision Board. 

The Board is made up of various key members of local business organisations who are dedicated to increasing employment opportunities within the Borough. 

Both Managing Directors share the same strategic priorities as the Pendle vision board which is to assist with regeneration of Pendle Borough and develop key strategic employment sites.

As part of the deal, Barnfield are obliged to submit a planning application for residential development on part of this site, where the older, more obsolete buildings are located.

If planning permission is obtained, Barnfield will then construct 8,000 sq ft of new offices and a 30,000 sq ft new warehouse for Wardle Storeys to move into.  Wardle Storeys will then vacate the older buildings to make way for the new residential development.

Barnfield is hoping to submit a planning application by the end of the year.