Coupe Foundry - Preston

The 8 acre Coupe Foundry site was acquired as a medium term investment/redevelopment opportunity and as such is still a working foundry. Since the site is currently occupied, Harrow made only limited intrusive site investigations prior to purchase. However Harrow are fully aware of the works required following vacation and have identified that the site will need to be completely remodelled and levels raised to alleviate possible flooding issues and create an attractive residential development platform.

Harrow’s approach to investment management is to establish a good relationship with tenants. In this instance Harrow extended the period of the lease, in dialogue with the tenants, in recognition of delays they experienced in securing a suitable alternative location.

Planning has been obtained for residential redevelopment of the site. In the future works will include:

• Planning consent for up to 80 new homes
• Decommissioning of the foundry and asbestos removal
• Demolition of above ground structures
• A new car park to provide off road parking for adjacent residences
• Removal of all sub-structures and redundant infrastructure
• A woodland management plan for the existing wooded area
• Treatment of contamination ‘Hot Spots’ by a specialist remediation contractor