Birchwood Park occupancy hits 94% in strong first half
Patrizia UK, the German fund that owns Warrington’s main office district, let more than 70,000 sq ft in the first half of the year, a 45% increase on the same period in 2016.
Twenty new companies have been welcomed to the park, including the 7,500 sq ft letting at 305 Bridgewater Place to technology giant Ricoh.
The park has continued to attract leading nuclear organisations, boosted by its place in the Cheshire Science Corridor Enterprise Zone launched in 2016. Cavendish Nuclear secured the entire 47,000 sq ft of the refurbished 106 Dalton Avenue.
The occupancy rate now stands at 94%, compared to 85% at the same stage last year. The total amount of space let in Birchwood Park in 2016 was 115,000 sq ft.
Martin O’Rourke, commercial director at Birchwood Park, commented: “Despite market uncertainties we have continued to see a high level of demand from businesses looking to set up a new base in the North West, ranging from start-ups and SMEs, to global corporates. What has been particularly interesting since June 2016 has been the interest from international companies looking to locate onto Birchwood Park.”
Deals agreed in the first half of this year added £1.6m to the annual rental income.
O’Rourke added: “With strong interest for our remaining spaces we’re confident we can build on this success in the remainder of the year. Birchwood Park offers a unique proposition for occupiers with its distinct community environment and flexible approach to leasing, and this continues to prove a real draw for businesses. With 700,000 sq ft of development land with outline planning consent on the park, there is also huge potential here for businesses looking for bespoke office or warehouse space.”
BE Group and JLL are the letting agents.