Penrith's cultural, community and business sectors are set for a seismic boost after confirmation of a multi-million pound grant. The Ministry of Housing, Communities and Local Government has approved £7.09m of Levelling Up funding for the Inspiring Eden project.
The project encompasses two major initiatives: an Enterprise Hub at 2-3 Market Square and a Creative and Community Hub based in Penrith Town Hall. Subject to Westmorland and Furness Council signing a memorandum of understanding to seal the grant, detailed planning is set to start soon on the Enterprise Hub, with the first business set to be up and running in the hub by April 2027.
Councillor Jonathan Brook, Council leader and Cabinet Member for Economy, said: “Enterprise, entrepreneurship, community and creativity will combine in Inspiring Eden, to bring wide-ranging and long-lasting benefits to Penrith, Eden and beyond.
"The journey towards getting to this point has been a long one, and the vision has evolved along that journey. The addition of the Creative and Community Hub along with the Enterprise Hub is tremendously exciting. These two projects will help transform heritage and historic spaces, create jobs, spark opportunities, nurture ideas, and support cultural economic life to thrive for generations to come.
"Collaboration has brought the idea of the Enterprise Hub to life and we look forward to embarking on meaningful engagement to ensure that the Creative and Community Hub reflects the ambitions, needs, and creativity of our community."
Plans for the Creative and Community Hub will reimagine the town hall and celebrate the town's heritage, powered by the community to ignite imagination for generations to come. Residents, creatives, community groups and young people will be invited to help identify options for future use.
The plan is for the future uses to be agreed by the end of the year.
The council's ambition is for the important Grade II listed building to become a vibrant, creative and community hub that celebrates its heritage while adapting it to meet the evolving needs of the community.
It will be a thriving incubator for local talent – acting as a launchpad for creatives and providing a collaborative environment for artists, creatives and entrepreneurs, whilst remaining a civic resource for residents.
Councillor Virginia Taylor, the council’s Cabinet Member for Planning, Culture and Community Wellbeing, said: "This is a fantastic opportunity to make a meaningful and lasting difference to the future vibrancy of Penrith’s town centre, high street and night-time economy. Cultural and economic activities attract visitors from far and wide, benefitting Penrith, Eden, and Westmorland and Furness as a whole.
"The Enterprise Hub and the Creative and Community Hub will boost the town in different ways but also support each other and contribute towards the council’s vision of making Westmorland and Furness a great place to live, work and thrive.
"Penrith Town Hall is an important landmark and resource we are committed to securing a future supporting the town. For that future to be significant and relevant then it must be informed by the community and local partners. Residents, creatives, community groups and young people will be the heart of shaping how the town hall and its programme is developed. Its cultural activities will enhance and support the established creative and community sector, develop young talent, and have audiences, participants and customers at its heart. There’ll be space for enterprise and other activities too – all early days and we look forward to working together.
"One of our ambitions is to ensure that the council uses its assets in the most appropriate and beneficial way. Penrith Town Hall is a key venue highlighted in this plan and creating a sustainable and worthwhile future for it will align with our priorities for climate, communities and customers, as well as our principles of customer focus and effective services."
The development of the Enterprise Hub started with a collaboration between Eden District Council, Cumbria LEP, Penrith Chamber of Trade and Commerce, Lancaster University and University of Cumbria in 2019 when research was commissioned to look at what interventions could really boost the 'ecosystems' of a place – in other words, how government focuses its investments to have the maximum impact on jobs, growth, and community wellbeing.
That work, led by business ecosystems expert and a senior lecturer at Lancaster, Dr Chris Ford, made the case for a business and innovation hub in the heart of town.
Dr Ford said: "The town centre really needed a place with office space, meeting space, but also a business support and innovation service that fits our town and our needs. It has to be a powerful, visible presence that makes a bold statement about what is possible right here in Penrith."
In July 2022, Eden District Council submitted a proposal to the government's Levelling Up Round 2 to establish an Enterprise Hub at Junction 41, M6. The bid was initially rejected by Government and then approved in November 2023.
The site was subsequently sold to a developer. It is now being marketed as ‘Penrith 41’ and is coming forward for commercial development independently.
In April 2024, Westmorland and Furness Council became aware that Barclays Bank were vacating 2-3 Market Square. Due diligence was undertaken and in January 2025 the council presented a plan for 2-3 Market Square to MHCLG as the perfect opportunity for a pivot towards a major town centre project instead.
Funding necessary for the Enterprise Hub has been calculated as £4.09m, leaving a balance of funding. Government requested the council find another project to use the residual funding of £3m and this led to the town hall being put forward as an additional project – the Inspiring Eden Creative and Community Hub.
The Enterprise Hub will serve as a catalyst for Penrith town centre renewal, with a vision that a high-quality anchor tenant will support high-growth businesses through a whole range of services and support. The anchor tenant plays a critical role, collaborating closely with funders, universities and other business networks to really drive success for everyone that comes through the door, and so boost local economic growth and innovation.
Professor Malcolm Joyce, Pro-Vice Chancellor for Research and Enterprise, Lancaster University said: "Lancaster is delighted to be part of a research collaboration with governments and business groups that can generate this kind of major investment for our regional economy. Creating new ways of supporting rural innovation networks is critical to the UK's growth plans, so I look forward to seeing how we continue and scale up this work, so that what we learn in Cumbria can be shared and replicated across the nation."
Dr Ford added: "This is a fantastic day for Penrith and personally it marks the end of a six-year programme of work to show the value of a flagship business centre in the very heart of Penrith. It also marks the start of a much more exciting phase – as we turn plans to reality, and develop the hub so it really does serve local people, town centre businesses, but also puts us firmly on the map as a town where brilliant, innovative and collaborative people come to live and work."
He continued: "A thriving town is about much more than its business community though, however important that may be, and we need a thriving cultural scene that supports local music, dance and drama as well as drawing in visitors and giving us all the chance to have great entertainment, sport, and social experiences in our town. The university continues to work closely with the council, the chamber, and arts organisations, looking at ideas great and small. It's a time of amazing opportunity for Penrith."
Dr Frank Allison, founder and CEO of Penrith-based innovation company FIS360 Ltd, is a core member of the partnership that developed the proposal for the Enterprise Hub, and has a strong interest in becoming the hub’s anchor tenant. FIS360 provides innovation solutions and technology commercialisation services in the UK and globally, connecting organisations with innovators and technologies to drive growth and deliver real-world impact.
Applying its expertise and experience, FIS360 have presented a vision of the commercialisation support and associated activities, maximising the hub’s potential to support and boost local businesses and the region’s economy.
Dr Allison said: "Having lived and worked in Penrith for many years, I am excited to see the potential of 2-3 Market Square and the town’s business community coming to life through these plans. FIS360 hopes to work alongside existing services in the area for the benefit of Cumbria and its people. FIS360 not only has proven track record in supporting a fascinating array of start-ups, entrepreneurs and established organisations, but also a passion for helping people to achieve and exceed their goals. We can’t wait to see what this venture brings."
Penrith's cultural, community and business sectors are set for a seismic boost after confirmation of a multi-million pound grant. The Ministry of Housing, Communities and Local Government has approved £7.09m of Levelling Up funding for the Inspiring Eden project.
The project encompasses two major initiatives: an Enterprise Hub at 2-3 Market Square and a Creative and Community Hub based in Penrith Town Hall. Subject to Westmorland and Furness Council signing a memorandum of understanding to seal the grant, detailed planning is set to start soon on the Enterprise Hub, with the first business set to be up and running in the hub by April 2027.
Councillor Jonathan Brook, Council leader and Cabinet Member for Economy, said: “Enterprise, entrepreneurship, community and creativity will combine in Inspiring Eden, to bring wide-ranging and long-lasting benefits to Penrith, Eden and beyond.
"The journey towards getting to this point has been a long one, and the vision has evolved along that journey. The addition of the Creative and Community Hub along with the Enterprise Hub is tremendously exciting. These two projects will help transform heritage and historic spaces, create jobs, spark opportunities, nurture ideas, and support cultural economic life to thrive for generations to come.
"Collaboration has brought the idea of the Enterprise Hub to life and we look forward to embarking on meaningful engagement to ensure that the Creative and Community Hub reflects the ambitions, needs, and creativity of our community."
Plans for the Creative and Community Hub will reimagine the town hall and celebrate the town's heritage, powered by the community to ignite imagination for generations to come. Residents, creatives, community groups and young people will be invited to help identify options for future use.
The plan is for the future uses to be agreed by the end of the year.
The council's ambition is for the important Grade II listed building to become a vibrant, creative and community hub that celebrates its heritage while adapting it to meet the evolving needs of the community.
It will be a thriving incubator for local talent – acting as a launchpad for creatives and providing a collaborative environment for artists, creatives and entrepreneurs, whilst remaining a civic resource for residents.
Councillor Virginia Taylor, the council’s Cabinet Member for Planning, Culture and Community Wellbeing, said: "This is a fantastic opportunity to make a meaningful and lasting difference to the future vibrancy of Penrith’s town centre, high street and night-time economy. Cultural and economic activities attract visitors from far and wide, benefitting Penrith, Eden, and Westmorland and Furness as a whole.
"The Enterprise Hub and the Creative and Community Hub will boost the town in different ways but also support each other and contribute towards the council’s vision of making Westmorland and Furness a great place to live, work and thrive.
"Penrith Town Hall is an important landmark and resource we are committed to securing a future supporting the town. For that future to be significant and relevant then it must be informed by the community and local partners. Residents, creatives, community groups and young people will be the heart of shaping how the town hall and its programme is developed. Its cultural activities will enhance and support the established creative and community sector, develop young talent, and have audiences, participants and customers at its heart. There’ll be space for enterprise and other activities too – all early days and we look forward to working together.
"One of our ambitions is to ensure that the council uses its assets in the most appropriate and beneficial way. Penrith Town Hall is a key venue highlighted in this plan and creating a sustainable and worthwhile future for it will align with our priorities for climate, communities and customers, as well as our principles of customer focus and effective services."
The development of the Enterprise Hub started with a collaboration between Eden District Council, Cumbria LEP, Penrith Chamber of Trade and Commerce, Lancaster University and University of Cumbria in 2019 when research was commissioned to look at what interventions could really boost the 'ecosystems' of a place – in other words, how government focuses its investments to have the maximum impact on jobs, growth, and community wellbeing.
That work, led by business ecosystems expert and a senior lecturer at Lancaster, Dr Chris Ford, made the case for a business and innovation hub in the heart of town.
Dr Ford said: "The town centre really needed a place with office space, meeting space, but also a business support and innovation service that fits our town and our needs. It has to be a powerful, visible presence that makes a bold statement about what is possible right here in Penrith."
In July 2022, Eden District Council submitted a proposal to the government's Levelling Up Round 2 to establish an Enterprise Hub at Junction 41, M6. The bid was initially rejected by Government and then approved in November 2023.
The site was subsequently sold to a developer. It is now being marketed as ‘Penrith 41’ and is coming forward for commercial development independently.
In April 2024, Westmorland and Furness Council became aware that Barclays Bank were vacating 2-3 Market Square. Due diligence was undertaken and in January 2025 the council presented a plan for 2-3 Market Square to MHCLG as the perfect opportunity for a pivot towards a major town centre project instead.
Funding necessary for the Enterprise Hub has been calculated as £4.09m, leaving a balance of funding. Government requested the council find another project to use the residual funding of £3m and this led to the town hall being put forward as an additional project – the Inspiring Eden Creative and Community Hub.
The Enterprise Hub will serve as a catalyst for Penrith town centre renewal, with a vision that a high-quality anchor tenant will support high-growth businesses through a whole range of services and support. The anchor tenant plays a critical role, collaborating closely with funders, universities and other business networks to really drive success for everyone that comes through the door, and so boost local economic growth and innovation.
Professor Malcolm Joyce, Pro-Vice Chancellor for Research and Enterprise, Lancaster University said: "Lancaster is delighted to be part of a research collaboration with governments and business groups that can generate this kind of major investment for our regional economy. Creating new ways of supporting rural innovation networks is critical to the UK's growth plans, so I look forward to seeing how we continue and scale up this work, so that what we learn in Cumbria can be shared and replicated across the nation."
Dr Ford added: "This is a fantastic day for Penrith and personally it marks the end of a six-year programme of work to show the value of a flagship business centre in the very heart of Penrith. It also marks the start of a much more exciting phase – as we turn plans to reality, and develop the hub so it really does serve local people, town centre businesses, but also puts us firmly on the map as a town where brilliant, innovative and collaborative people come to live and work."
He continued: "A thriving town is about much more than its business community though, however important that may be, and we need a thriving cultural scene that supports local music, dance and drama as well as drawing in visitors and giving us all the chance to have great entertainment, sport, and social experiences in our town. The university continues to work closely with the council, the chamber, and arts organisations, looking at ideas great and small. It's a time of amazing opportunity for Penrith."
Dr Frank Allison, founder and CEO of Penrith-based innovation company FIS360 Ltd, is a core member of the partnership that developed the proposal for the Enterprise Hub, and has a strong interest in becoming the hub’s anchor tenant. FIS360 provides innovation solutions and technology commercialisation services in the UK and globally, connecting organisations with innovators and technologies to drive growth and deliver real-world impact.
Applying its expertise and experience, FIS360 have presented a vision of the commercialisation support and associated activities, maximising the hub’s potential to support and boost local businesses and the region’s economy.
Dr Allison said: "Having lived and worked in Penrith for many years, I am excited to see the potential of 2-3 Market Square and the town’s business community coming to life through these plans. FIS360 hopes to work alongside existing services in the area for the benefit of Cumbria and its people. FIS360 not only has proven track record in supporting a fascinating array of start-ups, entrepreneurs and established organisations, but also a passion for helping people to achieve and exceed their goals. We can’t wait to see what this venture brings."