Recent reports tracking industrial developments throughout the UK have noted that Profile Park, a substantial 150,000 square foot development comprising of a mixture of commercial sites in Nelson, has recently been shifted to the hands of LPA (Law of Property Act) receivers LPA Direct. This move would effectively cause all interests related to the park located on Junction Street to move focus to the new agency in the near future and potentially new regulations being established for many tenants located in the development zone.

The move for the Park to shift hands comes primarily as a result of the fact that the area is currently operating well below expected levels for commercial developments and a number of improvements are seen as needing to be made to bring about greater profitability for all involved. In fact only around one third of all available areas within the Park are currently leased at present, with a combination of poorly performing bad credit mortgages and other economic factors leading to high levels of loan arrears developing within the zone.

The move of the Park’s management to LPA Direct is seen by many as a positive move to help increase rental revenue while improving the value of the buildings located within the zone and establish a more sustainable local economy than what has been seen in recent times. The primary focus for LPA Direct will be in the currently empty buildings within the area while at the same time developing an effective marketing campaign to encourage further investment in the local offerings in order to foster new businesses and employment, further diversifying the income potential for individuals and improving the overall appeal of both work and commercial interest throughout Profile Park.