Carlisle Lake District Airport’s operator, Stobart Group has completed the sale of the 315,000 square foot distribution centre to Gramercy Europe for £16.9 million ($24.3 million).
The centre was completed in September 2015 by the group’s civil engineering division, Stobart Rail, and 260,000 square feet will be sub-let to Eddie Stobart on a 20-year lease to provide storage space for two long-term distribution contracts. Stobart Group bought Carlisle Airport in May 2009 for £9.9 million and hopes the distribution centre sale will be the catalyst for future development and investment in Cumbria.
Stobart Group chief executive, Andrew Tinkler says: “We believe that this development will attract further inward investment at Carlisle Airport, securing and creating jobs in the area by offering cheaper logistics solutions at a location close to the Lake District and the border with Scotland.”
The group is working with the Civil Aviation Authority to upgrade the runway and do other refurbishment work, with the intention of operating flights between Carlisle and its other airport, London Southend Airport, as well as Belfast and Dublin airports.
The airport covers 460 acres of land, of which 212 acres are for operations, 248 acres are for logistics and other operations, with the distribution covering 19 acres.