They Think It’s All Over It is Now: Writing on the Wall for Council’s Penrith Business Hub Dream

The writing is now firmly on the wall for Westmorland and Furness Council’s Penrith business hub plans that appear to have failed to materialise after “to let” banners were fixed to the former Barclays Bank building in Market Square this week.

The prominent Grade II listed building at 2–3 Market Square, which had been lined up as the intended home for the Westmorland and Furness Council’s multi-million town centre enterprise hub, is now back on the commercial property market to let at £35,000 per year.

The move marks a clear shift in direction for what was the council has promoted as a flagship regeneration project for Penrith under the council’s Levelling Up programme along with the town hall cultural hub plans.

Around £90,000 has already been spent on early work connected to the scheme, according to council documents.

But the project has been under pressure for some time, with rising costs and concerns over deliverability leading to a wider review of regeneration priorities across the town.

The business hub proposal has already been reworked once, after earlier plans involving the Stoney Beck site were dropped in favour of the Market Square building.

The council leadership had been expected to take a formal decision on progressing both the business hub and the wider town hall redevelopment later this month. However, the appearance of “to let” banners on the Barclays building this week has fuelled speculation that the direction of travel on the business hub may already have been effectively decided.

There has so far been no clear public confirmation from the council on the status of the business hub element.

While regeneration funding for Penrith remains in place, the future of the business hub now appears over, with the future of the town hall scheme to be decided by council leadership at a meeting due to take place in Appleby on the 14th July.

The Grade II listed building has stood empty since it closed two years ago, with parts recently wrapped in plastic sheeting following damage from water ingress.