Mountpark Logistics has agreed to forward fund the development of 750,000 sq ft of warehouses in the next phase of Omega Warrington.
The new premises will be built at the Omega South site for Mountpark Logistics EU Sarl, a joint venture between Mountpark Finco and USAA Realco.
Mountpark is funding the scheme speculatively, with three units of 350,000 sq ft, 137,000 sq ft and 91,000 sq ft to be built in a first phase of development, scheduled for completion in November 2018. A fourth unit totalling 184,000 sq ft is fully consented and will follow as a second phase.
Omega Warrington Ltd has started building works on behalf of Mountpark, and a new access road leading off Skyline Drive is underway.
The start of construction follows the approval of a reserved matters planning application in January 2018.
Tom Kilmister, on behalf of Mountpark Logistics, said: “We are very excited to be working with OWL on the next phase of development at Omega South. The park has a fantastic reputation as the premier distribution location in the North West, given its excellent connectivity to the National Motorway network and accessibility to the regional population. There is currently a distinct shortage of available, good quality industrial and logistics accommodation in Warrington and the North West, providing limited opportunity for businesses looking to expand in to the area or relocate; Mountpark Warrington will provide much needed state-of-the-art accommodation for occupiers seeking quality workspace.”
With the deal completed and work starting on site, marketing activities will now take place to attract tenants. New occupiers would join ASDA, The Hut Group, Plastic Omnium, Domino’s and Amazon on Omega South, neighbours to Brakes, Hermes, Travis Perkins and Haydock Commercial on Omega North.
The site is delivered by Omega Warrington Ltd, a partnership between Miller Developments and KUC Properties, part of Royal Bank of Scotland Real Estate Asset Management.