Hut shed pre-sold for £47.5m
Omega Warrington Limited, a Miller Developments joint venture partnership, has signed an agreement with LondonMetric Property to forward-fund The Hut's new £47.5m 690,000 sq ft logistics and manufacturing centre at junction 8 of the M62 in Warrington.
The Hut Group has formally signed to become Omega South's second occupier along with ASDA, providing hundreds more jobs on site. Construction of the development will begin this month with completion expected in autumn 2015.
The Hut Group's new premises on the 41 acre plot will support a mixture of functions including logistics, manufacturing and offices plus a further 150,000 sq ft of additional expansion land. The new facility will bring over 2,000 jobs to Omega South.
Andrew Sutherland, joint managing director of Miller Developments, said: "This transaction really puts Warrington on the map and demonstrates the willingness of investors to participate in the North West's growing logistics and manufacturing sector. We welcome The Hut to our ever-growing family of successful businesses on site and continue to work hard with our partners to maintain the momentum generated for the maximum benefit of local people."
The new premises are being built to consolidate The Hut's four existing UK distribution units. The facility will be used to satisfy both its domestic and rapidly growing international operations.
Planning consent was granted in May 2014 for 2.1m sq ft of logistics and manufacturing space in Omega South, along with a new access road and a 35-acre wildlife area.
The Hut Group will join Asda on Omega South. Brakes, Hermes and Travis Perkins occupy Omega North.
GVA and JLL are the letting agents for Omega.
