Stobart launches second phase of Carlisle Airport redevelopment

The airport owner completed the first phase of a redevelopment last year, which involved construction of 311,000sq ft distribution centre at the Crosby-on-Eden airfield.

Most of this is let to haulier Eddie Stobart but 52,635sq ft remains unoccupied and this is now available to lease.

Stobart is also offering 31 acres of development land, next to the distribution centre, where there is an opportunity to build industrial warehouse and distribution buildings ranging in size from 15,000sq ft to 330,000sq ft.

The development is being marketed as 'Eden Park' through commercial property specialists Edwin Thompson, in Carlisle, and BNP Paribas.

John Haley, a partner in Edwin Thompson, said: “We have only been out to market for a week but we have already had interest in the space within the distribution centre and from people looking to buy units, both local and national operators.”

Carlisle Airport covers 460 acres but only 212 acres are required to operate the airport.

Stobart Group acquired the site in May 2009 for £9.9m to develop the remaining 248 acres for logistics and aviation-related purposes.

The new distribution centre occupies 19 acres.

Earlier this year, Stobart completed a sale and lease back deal for the freight distribution centre with Gramercy Europe for £16.9m.

Meanwhile, Stobart has just agreed to buy up the remaining shares in the aircraft leasing company Propius Holdings.

It will buy Aer Lingus' 33 per stake in the business for $14.7m (£11.9m). Stobart already controls 67 per cent of the shares after buying Invesco Asset Management's holding last month.

To fund the deal, it will issue 10.1m shares at 155p, raising £15.6m.

Stobart Group can trace its roots to the 1970s when it began as an offshoot of an agricultural contracting business in Hesket Newmarket.

It sold a majority stake in Eddie Stobart two years ago to concentrate on other interests principally aviation, warehousing and biomass.