One of the poorly thought through bits of LR is that it expects the previews to be in the same folder as the catalogue. In these days of 100K picture libraries and SSDs it's pretty annoying.
As with many things in LR, the only way to move it is to get down and dirty with symlinks. http://forums.adobe.com/message/3404204
Or you plan as i have and have several drives, 4 very fast, two large but slower. I have the cache on one, the catalogues on another with the backups on a third (slower )drive. This years raws go on another fast drive and exports and previous years raws are split over two larger drives.
Will have to investigate what the "Link shell extension" is - not heard of it before!
Thanks for info, Mel
Anyone know the equivalent system for Apple, as Link Shell is only for Windows?
the only way to move it is to get down and dirty with symlinks. http://forums.adobe.com/message/3404204
5 steps and you're already on number 2. As posted above http://forums.adobe.com/message/3404204
Just tried it on my Mac and it works fine.
[catname]Previews.lrdata.symlink