Member Article

Warrington property market kickstarts in 2013

The property market in Warrington has got off to a strong start this year, according to statistics from the 15th Warrington Annual Property Report.

Warrington Borough Council’s report showed that during the first quarter, 60% of total sales made last year were achieved in the office market.

Statistics also showed that more than 1m sq ft of commercial property deals were made in 2012, while investment sales totalled £80m; a 285% increase on 2011.

Deals made in 2012 have already netted 137,000 sq ft, while the Independent Police Complaints Commission has occupied 38,000 sq ft of space at the former Northwest Regional Development Agency’s office at Centre Park.

In addition to this deal, Your Housing Group signed a 35,000 sq ft deal at Birchwood Park, and Golden Gates Housing have decided to build a new headquarters on a site next to Bank Park.

Business partnership Warrington & Co’s chairman and director of BE Group, Peter Crompton, presented the report on Thursday to over 100 guests at the village hotel in Warrington.

He said: “The findings presented in our annual Property Report make very positive reading and shows a vibrant outlook.

“The resilience of the local economy, recognised in national surveys, is reflected in Warrington’s property market.

“This year has got off to a great start with significant property lettings already secured. This, coupled with the clear momentum building at Omega and the news that the £190 million outline master plan for the Stadium Quarter has received the go ahead from the Council, means we can look forward to a busy and, we hope, another successful year.”

Steve Park, managing director of Warrington & Co. added: “The findings in the Property Report are welcome news and it illustrates Warrington’s strong economic position.

“There’s a lot to look forward to in 2013 and we hope to keep building on the momentum seen last year and at the start of this year.”

Highlights from the report included news from the North West’s largest strategic employment site, Omega, which contributed a significant 200,000 sq ft lease deal with Brake Brothers.

Further to this deal, Omega announced last week that property firm Bericote has secured planning approval to build a £100m logistics centre and two additional facilities later this year at Omega North.

Other successes for Warrington included the town’s retail centre Golden Square where, although work is still ongoing, retailers are remaining resilient.

In November, a new £3.75m hotel has also opened for the third year running in Warrington, located at Gulliver’s Theme Park.

Warrington also exceeded its targets for new home development last year with 626 properties completed across 32 separate sites against a target of 456.

Cllr Terry O’Neill, leader of Warrington Borough Council, said: “The results of the Property Report are very good news for our town.

“There are many exciting projects either on site or in the pipeline such as Omega and the Stadium Quarter that will bring investment and jobs to Warrington.”

Warrington & Co was created as a partnership between Warrington Borough Council, business leaders and key organisations to boost growth in the town.

This was posted in Bdaily's Members' News section by Miranda Dobson .