The council has agreed to buy a site at Haydock Green in St Helens, including a 373,000 sq ft unit let to healthcare services firm Movianto.
The development which totals 27 acres next to Junction 23 of the M6, has been developed by Morley Estates and is the council’s latest foray into commercial property and was signed off at a meeting earlier this week.
Movianto signed up for a 373,000 sq ft unit at the site in July last year, as one of two major lettings in the North West, the other being at Titan in Knowsley where it took 300,000 sq ft. Both schemes were developed by Morley Estates, supported by debt finance from Fairfield Real Estate.
The company’s deal at Haydock Green was at the time the largest in the region in 2018, and this is likely to generate more than £2m per year for Warrington Council once it completes its purchase, which is funded by borrowing.
Haydock Green also features a 125,000 sq ft speculative unit; B8 is the retained agent and the scheme has a quoting rent of £6.50/sq ft.
Previous purchases by Warrington Council include at Birchwood Park, when it paid more than £200m for the multi-let business park.