Warrington Council has approved a £7.5m loan to Omega Warrington Limited, the joint venture between Miller Developments and Royal Bank of Scotland's KUC Properties, to fund a new road and infrastructure works on the Omega South site off the M62.
The loan will open up the 446-acre south side of the Omega development for further occupiers on the back of several large deals in the past year, mainly in Omega North. Brakes and Hermes Parcelnet are operating from sheds to the north of the motorway, with a further unit for Travis Perkins under construction.
Asda Logistics is on site with a 600,000 sq ft warehouse, the first new occupier on Omega South.
The money for the road will come from Warrington Council's capital programme and will be repaid over a seven year period with interest.
There will be a new highway connecting Omega South to junction 8 of the M62, running parallel to the motorway to the Asda Logistics development and then down to Omega Boulevard which currently ends at the Royal Mail depot.
Work on the construction of the road will commence in the coming weeks, with works expected to be complete by early 2015.
A consultation programme on a new draft masterplan for Omega South started this month to revise and update the current outline planning permissions, with an increased focus on housing, logistics and manufacturing, with reduced office content.
Since February 2013 Omega has attracted £217m of investment, safeguarded or created 1,850 jobs and seen 1.7m sq ft of floorspace created or under construction. The £100m logistics unit for Asda is due to be finished in 2015.