Member Article

Warrington invests in Omega’s Future

Warrington Borough Council has approved a £7.5 million loan to Omega Warrington Limited to fund a new road and infrastructure works on the Omega South site.

The loan will facilitate development and encourage further economic investment and growth for Omega and the town of Warrington. The monies will come from Warrington Borough Council’s Capital Programme and will be repaid over a seven year period with interest.

The loan has been made on full commercial terms and any surplus made by the Council on the deal will be reinvested in front line services.

Principally the funding will create a new ten metre wide highway that will connect Omega South to junction 8 of the M62, run parallel to the motorway to the Asda Logistics development and then connect 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.

Omega Warrington Limited will be working in partnership with Warrington Borough Council’s Traffic Management Team to identify and implement measures to ensure the new road provides the most convenient and appropriate means of access for HGV drivers to and from the M62, thus assisting with traffic congestion on Whittle Avenue, Lingley Green Avenue, Burtonwood Road south and surrounding residential areas. Statutory consultation on measures proposed will take place later in 2014.

Since February 2013 Omega has attracted £217 million investment, safeguarded or created 1850 jobs and seen 1.7 million sq ft of floorspace created or under construction.

Omega North is now home to operational logistics hubs for Brakes and Hermes Parcelnet, with a further unit for Travis Perkins under construction. All are connected by a £3.5 million access road, Lockheed Road, the funding for which was provided by Cheshire and Warrington LEP and facilitated by Warrington Borough Council.

Construction of the £100 million logistics unit for Asda on Omega South commenced in October 2013. The investment is thought to be the largest single investment ever made by Asda/Walmart and once complete in 2015 it will be the most technologically advanced unit of its type in Europe.

A consultation programme on a new draft masterplan for Omega South commenced on 17 January 2014 which seeks to revise and update the current outline planning permissions and so encourage and attract further investment and development on Omega South.

Councillor Terry O’Neill, Leader, Warrington Borough Council said: “This loan, which will be repaid with interest, will unlock the full potential of Omega South. The growth agenda for Warrington is essential to create jobs and wealth for the people of the town and ensure its future prosperity. The provision of this loan is an investment in the long term future of the borough”.

This was posted in Bdaily's Members' News section by Simon Malia .