A multi-million pound fundraising project to redevelop Keswick’s former pencil factory site into a new home for the town’s Christian convention is ahead of schedule.

Keswick Ministries, which runs the annual event, launched a £7 million appeal in July 2015 to buy and develop the land. It wants to create a single integrated site on that land and its own neighbouring Rawnsley site.

The factory site, at Southey Works, was bought by a Christian trust and Keswick Ministries hoped to raise its first £3 million by 2018 to pay back the trust and take ownership of the land.

With fundraising ahead of schedule, it now hopes to complete the purchase this year.

This summer’s convention, from July 15 to August 4, is expected to be the last event based mainly at the current Skiddaw Street convention centre.

James Devenish, projects director, said: “The plan which we’re working towards is the summer convention on the integrated site in 2018 but there’s a fair bit that needs to happen for that to take place.”

The charity expects to appoint architects in the coming weeks and hopes early drawings of the proposed redevelopment will be available in time for this summer’s conventioners to view.

Moving the convention to the new site is the first phase in the scheme, named the Derwent Project.

Phase two is to build a conference centre, which the charity hopes will draw new events to benefit the whole town.

The third phase is to provide accommodation at the new site to replace that in the current convention centre, which hosts event volunteers in the summer and visiting groups and small events the rest of the year.

Part of the scheme will involve moving the charity’s offices to Rawnsley Hall and this has been moved forward to coincide with flood-repair work.

Plans are being considered by the Lake District National Park Authority to turn offices previously used by Young Cumbria, and a neighbouring gym space, into new staff work space.

The Skiddaw Street site is set to be sold in the future to help fund the development, and Mr Devenish said it was likely to be used for housing.

Mr Devenish said the charity would work with Keswick Community Housing Trust to see if it could benefit from all or part of the site.

However, charity rules mean it is required to get the best price it can for the land.

Mr Devenish said: “We are very excited about the progress we have made on the Derwent Project as a whole. We have been really encouraged.”

The charity is continuing to work with organisations including the town council and Mr Devenish said it had had good support from the community.

He added: “Part of what we want to do is be a blessing to the town and that continues to be a key part of our focus.”