Annual Property Review 2017

@warringtonco warringtonandco.com

THE BASE

To M6

To M62 Warrington continues to thrive as a town of exciting commercial prospects. Annual Property Review 3

Contents

4 Foreword 6 Executive Summary 10 Warrington Economy 12 Warrington Investment 16 Warrington Offices 20 Warrington Leisure 22 Warrington Industrial 30 Warrington Retail 32 Warrington Residential 34 Looking Forward 38 Acknowledgements 4

Foreword

2016 was a year of tremendous progress. It was a year when the ambitions outlined in the original Warrington growth framework Warrington Means Business published in 2013 required an update as progress had been so rapid.

It was a year of achievement. At the Omega continues to go from strength Stadium Quarter The Base opened to strength. Skyline Drive was in January and is now home to nine completed on Omega South, and businesses employing over 80 staff. In the year saw the practical completion September UTC Warrington welcomed of units for The Hut Group (63,692 its initial student cohort and was sqm) and Asda/Walmart (57,454 formally opened by HRH Duke of York sqm). Plastic Omnium commenced in November. manufacturing from their 22,263 sqm unit and construction commenced on a Elsewhere in the core city centre, Time manufacturing unit for Domino’s Pizza Square is progressing at a pace. 2016 (10,858 sqm). At Omega North Hermes saw the construction of the Temporary took more space and now only one plot Market hall near completion and of circa 4,645 sqm remains available. substantial progress on the building of The year end also saw the completion the 1,160 space Multi Storey Car Park. of a 33,091 sqm speculative unit , which 2017 will see the start on site of the main has an occupier the identity of whom phase of works after the construction will be announced shortly. contract is awarded in Spring.

1. Omega South 2. Birchwood Park

2 Annual Property Review 5

From a vacant former airfi eld site It is hoped that the inclusion of when Warrington Means Business was Birchwood will help to promote and originally endorsed only three years further grow the development of the ago, Omega will host 7,500 jobs by the area’s nuclear cluster. end of 2017. A remarkable achievement. We are amidst a very exciting chapter 2016 also saw the launch of the in the history and continued upward Cheshire Science Corridor, Cheshire trajectory of the remarkable and and Warrington’s Enterprise Zone. Led ambitious Warrington story. Through by Cheshire and Warrington LEP, the Warrington & Co. as delivery agent Zone, which covers over 100 hectares, is Warrington Borough Council is proving comprised of a number of integral and its ability to deliver regeneration on an smaller sites, including Birchwood Park. unprecedented scale. In total, the Enterprise Zone has the potential to attract up to 20,000 jobs Professor Steven Broomhead and 500 businesses, and is expected Chairman, Warrington & Co. to entice approximately £100 million in additional investment.

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Executive Summary

After 2015 was dubbed a year of “growth and regeneration” for Warrington, 2016 saw the pace increase as the landscape at the heart of the Northern Powerhouse continued to evolve.

With work on Time Square beginning Although 2016 saw a greater number Investment to alter the town’s skyline, and with the of larger premises being transacted, With 2015 experiencing a downturn in Enterprise Zone in Birchwood confirming smaller deals between 200 sqm and investment performance on the previous its place within the new Cheshire Science 400 sqm accounted for 42 percent of year, 2016 rallied with a total of 107,376 Corridor, Warrington continues to all those completed. sqm changing hands. Comprising 27 thrive as a town of exciting commercial Warrington continues to attract deals, this marked the second highest prospects. nationally recognised occupiers level of transactions in a single year since Having reported on Birchwood’s high- with the likes of Müller, Canon, and 1999. Ofcom selecting Warrington as their profile inclusion in the Cheshire Science An estimated total of £92.1 million destination of choice. Corridor Enterprise Zone, the initiative traded in 2016, representing the was formally launched in 2016 and is Industrial sixth largest total ever recorded. The expected to lever in approximately majority was generated by £50.6 £100 million in investment. In addition Whilst the record breaking totals million of industrial investments. to this, the Enterprise Zone has the achieved in 2015 would always prove to potential to attract up to 20,000 jobs and be an exceptional target, transactional The year’s largest industrial deal 500 businesses, which it is hoped will activity last year retained a real strength was achieved at Winwick Quay with promote the development of the area’s to finish with 73 deals, marking the third Aberdeen Asset Management’s historic nuclear cluster. highest total in almost two decades. purchase of the AAH Pharmaceuticals facility for £13.9 million. Whilst this offers a huge potential for Omega made the headlines once The office market flourished with the future of Warrington’s economic again with two flagship deals on the activity as CEG expanded their North prosperity, the here and now offers Omega South site. The speculative West reach through the acquisition its own advantages. Warrington has a 33,091 sqm building found a tenant of Appleton House and Atlantic prominent role in the 2017 Centre for quickly as well as a 10,870 sqm House in Birchwood for £5.58 million. Cities Outlook report in which the town purchase to Domino’s Pizza marked Collectively these buildings total 4,769 sits as one of only two cities outside the the two largest transactions of 2016. sqm and Appleton House contains South of England to feature in the Top 10 Once again Woolston saw the the European, Middle East and Asian in terms of employment rate. In addition, greatest number of industrial headquarters of New Balance. Warrington is ranked third in terms of transactions, however the likes of highest business growth, bettered only Winwick Quay, Gemini and Birchwood Retail by London and Aberdeen. also featured prominently in a diverse Despite a national picture characterised range of locational activity. Office by post-Brexit anxiety, consumer Development looks set to continue at spending remained resolutely strong The 2016 office market looked to build Omega with the acquisition of a 4.67 during 2016. In addition, retailers in the upon the stellar figures achieved last acre development site by Brackley town demonstrated a real confidence year, with a 20 percent increase in total Property Developments. In addition in their location with a number of floorspace transacted, as well as an to this, Haydock Commercial Vehicles expansions, supported by significant improved average deal size of 661 sqm. also plan to develop out a 3.25 acre in-movers throughout Warrington’s Birchwood’s dominance of the market site on Omega North. shopping and retail parks. continued to flourish, claiming not only the largest deal of the year with the 4,842 sqm letting at Allday House to NDA, but also recording six of the ten largest transactions of 2016.

1. Allday House, Birchwood 2. Omega South Annual Property Review 7

1 2

Following a comprehensive £9 Leisure facilities for local communities Extra care facilities saw a significant million expansion and refurbishment also saw significant attention last year, boost across Warrington with schemes programme by developer Derwent with the Council’s executive board on Loushers Lane in Latchford and Group at JunctionNINE Retail Park, approving plans to provide £10.8 Farnworth Road in Penketh being up to 2,040 sqm of deals have been million to Livewire in order to support developed. When completed, these completed, attracting both on-site the on-going development at Great schemes will provide a total of 126 expansions and relocations as well as Sankey Neighbourhood Hub. Plans units, with a focus on 24-hour care and a number of new tenants taking space. have also been approved for a further specialist care for residents suffering hub to support both Bewsey and with dementia. Golden Square saw a number of Dallam. transactions in 2016, the majority Looking Forward of which involved existing tenants Investment into the food and drink either renewing leases or expanding industry saw the likes of Prezzo, Miller Warrington & Co’s flagship regeneration across the centre. Millets, Pandora, & Carter, Nandos and Starbucks framework document, Warrington Swarovski, Starbucks and H Samuel all occupying space across Warrington. Means Business, has been redrafted to confirmed their intentions to remain in Several pubs have also rebranded illustrate the pace of the development Warrington for the foreseeable future. to satisfy a growing demand for that has been implemented and actioned high-quality eateries, indicating following its initial publication in 2013. A freshly rebranded Cockhedge Warrington’s growing importance Shopping Park launched with new As is well documented, Time Square amongst a number of nationally tenants The Vet, Xercise4Less and continues to play a major part in significant retailers. Indigo Sun. The shopping park has Warrington’s ongoing retail and also introduced two hours of free Residential leisure developments. parking, with a noted increase in Following the successful completion footfall across the scheme. Despite growing uncertainty in the national housing market, and a general of Birchwood’s £5 million pinch-point Leisure shortage of residential stock, Warrington works, attention has turned to the £12 fared well in 2016 by continuing to benefit million redevelopment of Junction 8, A 2016 study by Deloitte suggests from its integral location nestled within M62 at Omega. that the UK Leisure industry generates the centre of the Northern Powerhouse. £117 billion in revenue and has grown Miller Homes will develop Phase annually since 2010. Warrington’s effort The Council’s Annual Monitoring One of the new residential scheme in improving its leisure offer came into Report recorded that in 2016, 615 new at Omega South. With permission sharp focus in the last year as a number homes were completed in Warrington. secured for 1,100 new homes, the of schemes and initiatives began to take Notably, nearly half of new homes area has been divided into plots to be shape across the town. were built within the town centre completed in phases over the next 10 through schemes including Howley years. The town’s flagship regeneration Meadows and rental scheme Hive on scheme, Time Square, is now The Southern Gateway development Church Street. underway, with CPUK developing area will be the primary focus of Wire the temporary market hall and I & Large, ongoing developments Regeneration, with a key focus to H Brown building the new multi- also saw a number of significant deliver over 1,300 new homes right in storey car park. The £107 million completions in 2016, with new homes the heart of the town centre. development is due to be completed at Phases 14 and 15 being built by Bank Quay Gateway, Warrington in 2019. David Wilson Homes at Chapelford Waterfront and Eastern Gateway will Urban Village. Morris Homes also also propose additional scope for the continued progress at both Sandford long-time offer of Warrington’s town Village in Bruche and Edgewater Park centre. in Thelwall, with a total of 170 homes completed. 8

Birchwood Park set the highest rent level achieved across the year. Annual Property Review 9 10

Warrington Economy

The strength of Warrington’s economy is again defined through its ranking within a number of reports and surveys, all of which underline the strength of the town within a wider UK context.

1 With 2.5 million working-age people Energy continues to be an important living within a 30-minute drive, business sector, with Birchwood home Warrington has the largest catchment to a large array of nuclear companies. than any other city outside the M25. Recently however, Warrington has been Because of this, Warrington not only showing its green credentials, being ranks third in terms of highest business ranked within the Top 10 for renewable growth, bettered only by London and energy use in the North West. Research Aberdeen, but it is also the only city in undertaken by environmental think- the North to be defined as ‘high wage tank Green Alliance shows that nearly and low welfare.’ Warrington also sits 20 percent of the town’s energy is at number four in an assessment of the generated from environmentally friendly relationship between private sector and sources such as solar energy and gas publicly-funded jobs, where Warrington from landfill, which actually accounts boasts a ratio of 3.9 percent. for the biggest proportion of the town’s renewable energy. Meanwhile, official The importance of the EU in matters of government statistics show that 78 With Brexit hanging heavy over the export holds true across the majority percent of the public support the use economic uncertainty of the UK, the of cities. When detailing the Top 10 of renewables. This is manifest in more 2017 Centre for Cities Outlook report cities with the largest share of exports than 60,000 households across the focuses on the result of the referendum, going to the EU, Warrington appears North West boasting solar panels, as specifically through exports and what as number 10 with 59 percent (2014). well as the offshore wind installations potential these might have on Britain’s With that said however, the Centre currently providing more than a new place in the world. for Cities Outlook suggests that it will gigawatt of power into the region. become increasingly important to not Warrington is featured positively only boost the amount of exports in the In the more traditional fossil fuel sector, within the report on a number of coming years to a more diverse group SSE has secured a major new contract counts. Notably, although southern of customers, but also to focus on to provide ancillary power services to cities demonstrate a greater general increasing the value of these exports. In the National Grid via Fiddlers Ferry employment rate, Warrington sits with order to do this, trade deals in specific Power Station. The 12-month contract, Northampton as the only two cities cities must diversify from more than one which commenced in April 2016, outside the South of England to feature or two sectors. followed the announcement that the in the Top 10, boasting a 1.6 percent power station had been earmarked increase in the rate of employment for for a partial ending of commercial 2016. operations. SSE have since stated that consultations will commence between themselves and the power station’s 213 staff as they complete a review of the site’s operational requirements. Annual Property Review 11

Insider’s Profit 50 list for 2016 details A Geography of Creativity study With economic growth in the town Warrington-headquartered water published by Nesta and Creative reported year-on-year, Warrington company United Utilities as the North England in July 2016 found that needs to plan for the future, if this West’s most profitable business. With Warrington is fast becoming a hot bed strength is to be sustained. As part of significant operations spreading out of creative industry within the North its evidence base for the new Local across the region, Birchwood-based West. Complementing the larger, Plan, the Council commissioned BE engineering giant Amec Foster more established creative hubs in Group to undertake an Economic Wheeler took second place. Later in Salford, Manchester and Liverpool, Development Needs Study to forecast the year, The Sunday Times HSBC the “less visible” cluster of Warrington its land and premises needs for the Top Track 100, a report which details and Wigan employs a total of 7,128 Local Plan period, to 2037. The Study Britain’s 100 private companies staff in creative industries and sits as identified a looming shortage of with the biggest sales, stated that the fourth largest cluster in the North available office and industrial space, Warrington-based metal recycler of England. proposing that, based on average European Metal Recycling is the annual take-up, there is around 3 highest ranked private company in the For the second year running, year’s forward supply of offices, and North West. Warrington has been awarded an ‘Aa2’ less than a year’s forward supply of credit rating by international credit industrial space. Last year this report highlighted the agency Moody’s. By carrying out an growth of the SME sector through in-depth evaluation of the Council’s This reducing supply highlights the the level of transactions in small finances, governance, strategic plans need for new development across offices (below 200 sqm), and this and economic regeneration schemes, the Borough if the town is to meet was attributed in part to the growth Warrington fared better than all but the target of creating 31,000 new of start-up businesses. Echoing this, 16 countries in the world. With over jobs by 2040 under the Warrington Warrington has been acknowledged £76.8 million saved over the last five New City Programme. To achieve this year as the number one “city” years and with a proactive approach this, Warrington needs to have a in the UK for high-growth small to economic development strategy, supply of employment land going businesses. Independent research Warrington was found to be more forward. BE Group found that there carried out by Informi on 65 UK cities financially stable than China, Belgium is currently a realistic supply of just ranked Warrington top for the second and Japan. 104 ha, if historic trends are projected year in a row in terms of housing the forward. Therefore, Warrington faces highest proportion of high-growth a challenge in bringing new land firms – 15.8 percent compared to the forward under its Local Plan. national average of 11.8 percent.

1. Solar Panels 2. Fiddlers Ferry Power Station 3. Wind Turbine

2 2.5m working-age people living within a 30-minute drive, Warrington has the largest catchment than any other city outside the M25.

3 £76.8m saved over the last five years with a proactive approach to economic development strategy. 12

Warrington Investment

Whilst 2015 saw a downturn in investment performance on the previous year, following a great deal of trade at Omega, Birchwood Park and Golden Square, 2016 looked to steady the level of activity with a total of 107,376 sqm of investment property changing hands.

At 27 deals, 2016 marked the second The largest industrial deal in 2016 In September 2016, Custodian REIT highest level of transactions in a single was achieved at Winwick Quay with completed a portfolio sale from BLME year since 1999, almost 70 percent Aberdeen Asset Management’s Light Industrial Fund of ten sites across above the annual average. purchase of the AAH Pharmaceuticals the UK. This included two industrial facility for £13.9 million. The unit totals premises in Warrington which totalled The total value of transactions for the 13,982 sqm and represents a net initial more than 10,000 sqm. Both units are year is estimated to total £92.1 million yield of 5.31 percent. located on Woolston Grange with a and takes account of the Warrington 6,224 sqm unit let to DHL Supply Chain element of larger portfolio sales, where North Warrington also proved to be on Kingsland Grange and a 3,791 sqm figures have not been disclosed. This a popular location for a number of unit on Chesford Grange let to Dinex stands as the sixth largest total value for other investors, with Taurus Park at Exhausts. The deal was reported to a single year and more than 10 percent Gemini trading to LaSalle Investment be worth £26.75 million and all ten above the average annual figure from Management and two units on Calver sites collectively boast an annual rental the last two decades. Court at Winwick Quay to Cabot income of £2.2 million. The Warrington Properties. In addition, December 2016 properties are estimated to account for Unsurprisingly, industrial deals saw the property investment company around £5.2 million of the total. accounted for both the largest uptake Hollins Murray Group acquire Bishops of space and value with a total of Court for £4.25 million. The multi-let Newton-le-Willows based property 79,319 sqm completing across 2016, industrial estate totals 10,219 sqm and investor Network Space purchased amounting to some £50.6 million. The comprises eight semi-detached units. the 1,719 sqm Vodafone-occupied market got very steamy with yields This acquisition reflects a net initial yield warehouse on Woolston Grange in dropping as investors competed fiercely of 5.28 percent, which for a multi-let November 2016, one half of a double for property as it came to the market. 1980’s scheme is an impressive figure. acquisition worth more than £2.5 This saw the final price significantly million. above the asking price.

1 £13.9m The largest industrial deal in 2016 was achieved at Winwick Quay with Aberdeen Asset Management’s purchase of the AAH Pharmaceuticals facility for £13.9 million.

2 £50m Orbit have acquired over 30 properties across Warrington comprising more than 35,000 sqm and a total value of some £50 million. Annual Property Review 13

Undaunted by the uncertainty in the Keeping to the nautical theme, Millennium Business Park comprises wider economy, the company has Orbit Developments continued their 1,809 sqm of office space across three acquired a total of eight buildings buying spree of Warrington offices fully-let buildings, increasing Frankel since the EU Referendum during 2016. with the purchase of Trafalgar House, Brow’s ownership of the Birchwood occupied by computer giant Fujitsu. Boulevard estate to almost 7,432 Whilst the office market did not To date, Orbit have acquired over sqm. The deal, involving an unnamed quite match the level of activity 30 properties across Warrington Private Vendor, represented a net in the previous year’s report, a comprising more than 35,000 sqm and initial yield of 10.8 percent. number of significant deals across a total value of some £50 million. the town continued to demonstrate Warrington Borough Council is building Warrington’s appeal to investors Frankel Brow, a company of Betfred’s an investment portfolio and completed seeking high-quality office space. Fred Done, has expanded its portfolio the purchase of the site and building in Birchwood, or more specifically housing sports equipment supplier With a portfolio already covering over Birchwood Boulevard, with the DW Sports. A mainstay of the Mersey 836,000 sqm, property investment purchase of Millennium Business Park Street panorama, DW will continue to and development company CEG for £2.1 million. lease the building from the Council. expanded their North West reach Housing both the retail store and the in 2016 with the acquisition of fitness club, the site is on the edge of Appleton House and Atlantic House the Council’s Time Square development at Birchwood Point Business Park for and will fit in well with the new retail £5.58 million. Collectively, these two and leisure development, currently self-contained, three-storey, HQ-style targeting a 2019 completion date. office buildings total 4,769 sqm. The WARRINGTON ADVERT V1 (70X100)_Layout 1 07/03/2017 0 larger of the two buildings, Appleton House, is the European, Middle East and Asian headquarters of global sportswear brand New Balance, whilst Atlantic House, formally occupied by Avios, will be refurbished and Investing in marketed during 2017. Avios continue to occupy the neighbouring Pacific House. Warrington

1. Exchange House Daten Park 2. Birchwood Boulevard 3. DW Fitness Club

DATEN PARK BIRCHWOOD BOULEVARD 14,700 sq.ft. 10,000 sq.ft. 01625 588200 www.orbit-developments.co.uk 14

Warrington Investment

Net Initial Location / Property Vendor Purchaser Size (sqm) Price (£m) Income (£/pa) Tenant Agents Yield (%) Office

Atlantic House & Aviva Investors Appleton House, New Balance Global Services CEG Ltd 4,770 5.58 £455,588 8.16 Savills Birchwood Point Business and Vacant Ltd Park, Birchwood

Trafalgar House, Orbit Private Investor 3,793 7.0 0 £635,000 Fujitsu 8.50 Unrepresented Birchwood Developments

London & Phoenix House, Lakeside The Hillview Cambridge 2,719 4.80 £503,607 Various 9.64 Knight Frank Drive, Centre Park Group Ltd Properties Ltd

Millennium Business Park, British Steel BE Group / Frankel Brow 1,809 2.10 £241,046 Various 10.80 Birchwood Pension Fund WHR

Cinnamon House, Cinnamon Park, Crab Private Investor RBH No1 Ltd 1,706 2.30 £233,185 Various 10.13 Acuitus Lane, Birchwood

Nolan House Beach Holdings Oval Property 1,702 2.10 £232,400 Jobcentre Plus 10.25 CBRE

Unit 601, Birchwood One ACT / Seddon Chancerygate Business Park, Dewhurst 310 0.58 £46,732 Chancerygate 8.00 BE Group Developments Ltd Road, Birchwood Ltd

Net Initial Property Vendor Purchaser Size (sqm) Price (£m) Income (£/pa) Tenant Agents Yield (%) Industrial

AAH Pharmaceuticals Aberdeen AAH Ltd, Woburn Road, Threadneedle Asset 13,982 13.95 £765,000 5.31 B8 RE Pharmaceuticals Winwick Quay Management

LaSalle Taurus Park, Europa Square Metre Investment 12,443 11.50 £ 767,015 Various 6.50 Knight Frank Boulevard, Gemini Properties Ltd Management

Warrington Central Warrington Trading Estate, Bewsey Langtree Ltd Borough 11,335 4.50 £444,000 Various 9.00 Langtree Ltd Road Council

Bishops Court, Winwick Hollins Murray Private Investor 10,219 4.25 £239,000 Various 5.28 WHR Quay Group Units 1 and 2, Calver Helical Properties Cabot 4,140 4.73 £351,000 AVC/Topgrade 7.0 0 CBRE Quay, Winwick Quay Ltd Properties 4 Kingsland Grange, BLME Light DHL Supply Portfolio Custodian REIT 6,224 Undisclosed £229,653 Custodian REIT Woolston Industrial Fund Clain Sale Unit 1-4, Heaton Court, Collingwood Threadneedle Private Investor 6,056 Undisclosed Undisclosed Various Undisclosed Birchwood Rigby PTS Property Morgan Holmsfield Road Private Investor 4,192 Undisclosed £109,134 Various Undisclosed Ltd Williams 14 Chesford Grange, BLME Light Portfolio Custodian REIT 3,791 Undisclosed £183,645 Dinex Exhausts Custodian REIT Woolston Industrial Fund Sale Unit 29, Kingsland D M & F Grange Packing Valedown Ltd 3,604 2.05 £176,450 8.19 Legat Owen Grange, Woolston Investments Ltd & Distribution 2 Kingsland Grange, Portfolio Lewis & Private Investor Network Space 1,719 Undisclosed Undisclosed Vodafone Woolston Sale Partners Scotts Industrial Estate, PTS Property Morgan Private Investor 1,613 Undisclosed £43,450 Various Undisclosed Hoyle Street Ltd Williams Annual Property Review 15

Net Initial Property Vendor Purchaser Size (sqm) Price (£m) Income (£/pa) Tenant Agents Yield (%) Retail The Courtyard, 44 Bondbay Ltd Private Investor 3,230 2.20 £362,150 Various 15.56 Allsop Horsemarket Street Fordton Retail Park, LondonMetric Private Investor 1,877 6.60 £356,400 Various 5.40 JLL Winwick Road Property PLC David Currie 6 Springfield Street LPA Receivers Private Investor 890 0.55 £27,156 Various 4.93 Ltd

11/15 Buttermarket Street Private Investor Private Investor 828 0.90 £88,700 Various 9.30 Mason Owen

Skoda Car Garage, Private Investor Private Investor 690 1.32 £100,000 Skoda 7.15 Acuitus Winwick Road Dalgarno Dalgarno 11 Suez Street Private Investor 126 0.13 Undisclosed Undisclosed Mason Owen Solicitors Solicitors

Net Initial Property Vendor Purchaser Size (sqm) Price (£m) Income (£/pa) Tenant Agents Yield (%) Other

Warrington 2 Bank Street Avignon Capital Borough 3,107 4.00 £375,000 DW Sports 8.80 Knight Frank Council

Bright Horizons Callands Day Nursey Private Investor Private Investor 500 1.34 £78,898 Family 5.89 Allsop Solutions Ltd

1. Allday House 2. Birchwood Boulevard

1 16

Warrington Offices

The level of office activity in 2016 illustrated a real appetite for a diverse range of space, building upon the stellar figures achieved in the previous year.

Whilst 2015 was characterised by Having fallen slightly in 2015 to 550 Birchwood Park, attracted considerable transactions at the smaller end of the sqm, the average transaction size this interest which translated into scale, 2016 saw the return of deals year rose to 661 sqm, with a focus again transactions for the likes of Müller, towards the top of the range, leading to on sub-10 year lease terms. In addition, UK Hearing Management Services, a significant amount of total transacted 28 percent of all transactions this year Canon and Foss, and which collectively floorspace. were completed on either a freehold accounted for 2,239 sqm. or long leasehold basis, with occupiers 36 deals above 200 sqm were such as KLS Law relocating within Also in Birchwood, business service completed, comprising 23,781 sqm. Centre Park, St George Healthcare provider Firstsource Solutions leased This demonstrates a substantial 20 buying the Old Rectory in Winwick, and 1,123 sqm at Cinnamon Park which percent increase in total floorspace on PTS Property purchasing office space to was the second largest letting of last year and stands as the fifth largest bolster its town centre portfolio. the year. Claranet took 799 sqm at floorspace total in the past decade. Birchwood Boulevard which is seeing However, whilst total deals could not Unsurprisingly Birchwood continued a new lease of life under Fred Done’s match the influx of start-ups and small to thrive as a busy commercial location company Frankel Brow, and Orbit, one businesses in 2015, the figure still in 2016, with over 35 percent of all of Warrington’s most active investors remains the sixth largest on record in 19 completions located there. In addition, in recent years, let 798 sqm to Galliford years of compiling this report. six of the largest ten deals completed Try at Daten Park. took place in Birchwood, further Whilst deals involving larger space are cementing itself as both a place of headline grabbing, smaller space made immense interest amongst occupiers as up a significant percentage of those well as a consistent supplier of prestige completed. Transactions between 200 office space. sqm and 400 sqm accounted for 42 percent of all deals reported, further The largest transaction of 2016 was the illustrating the diversity of premises letting of Allday House in Birchwood, Warrington has to offer. with the Nuclear Decommissioning Authority taking a new lease on the Although lettings and sales of 1,000 4,842 sqm headquarters building sqm and above were fewer in number, which will house Sellafield Ltd, one of total floorspace transacted within this Birchwood’s biggest occupiers. This 1 range accounted for almost 30 percent saw Pin Properties achieving the largest of all floorspace transacted in 2016. letting in the town for the second year These were also not limited to one running, following the letting in 2015 single location however, with Centre of sister building Washington House, Park, Lymm and Birchwood also seeing which this year saw a further letting to strong activity, illustrating Warrington’s Taylor Wimpey. town-wide offer.

36 deals above 200 sqm were completed, comprising 23,781 sqm. Annual Property Review 17

Elsewhere, Warrington town centre Again Birchwood Park set the highest Among those developments given saw considerable activity. Centre rent level achieved across the year. the green light to commence in 2016 Park provided a number of signifi cant Whilst not quite matching last year’s was the 1,000 sqm Head Quarter transactions, accounting for 4,089 sqm town record of £215 per sqm (£20 per offi ce and research and developing of space and seeing two deals feature sqft), the healthy level of £188 per facility for Warrington-based Rock in the year’s Top 10. During 2016, sqm (£17.50 per sqft) achieved at 104 Oil. Founded nearly 90 years ago, Ofcom and Newsquest relocated to Dalton Avenue was the highest fi gure the family-owned lubricant company new premises at Centre Park, the latter in 2016. confi rmed a £3 million contract with from their prominent location at The building and civil engineering fi rm Academy on Bridgefoot roundabout, Following its grand opening in Construction Partnership UK to whilst Brookson and Restons, January 2016, business incubator begin work on the R&D facility and occupiers there for many years, took facility, The Base, has welcomed laboratory. The Centre, which will additional space. a number of new tenants. Mobile form part of a major development of network infrastructure specialists the company’s Cheshire operations, Ofcom’s relocation is signifi cant Iris Networks and software solutions will house staff from across Rock Oil’s for a number of reasons. Whilst the business The Clear Company have technical, marketing, sales and senior presence of this nationally signifi cant signed deals to occupy nearly 130 sqm management departments. occupier moving into the town of space. The Base is seen as a way in presents well for Warrington’s external which to reinforce the town centre’s image, the move has also created role as a hub for high-growth fi rms 50 jobs for the regulator’s consumer which will continue to drive future contract and spectrum licensing investment in wider infrastructure and departments. services.

1. Allday House, Birchwood 2. Allday House, Birchwood

£3m contract with building and civil engineering fi rm Construction Partnership UK to begin work on the R&D facility and laboratory. 18

Warrington Offices

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years)

Nuclear BE Group / Allday House, Birchwood Pin Properties Decommissioning 4,842 Undisclosed 5 Cushman & Authority Wakefield

JLL / Altus Eileen 3 Cinnamon Park, Birchwood JSSH Ltd Firstsource Solutions Ltd 1,123 £156.04 5 Bilton 1210 Centre Park Square, Herbert Street KLS Law 1,022 £1,076.32 Freehold BE Group Centre Park Partnership

BE Group / Part Ground Floor, Washington Pin Properties Taylor Wimpey 985 £166.91 10 Cushman & House, Birchwood Wakefield

Chadwick House, Birchwood Patrizia Müller 973 £145.34 6 BE Group / JLL Park

BE Group / 4 Cygnet Court, Centre Park DIB Partnership Newsquest Northwest 926 £156.09 10 Cushman & Wakefield

The Old Rectory, Winwick Arley Homes NW Ltd St George Healthcare 914 £1,206.02 Freehold BE Group

M&M Asset 63 Mersey Street Undisclosed 880 £397.73 Freehold Acuitus Management 620 Birchwood Boulevard, BE Group / Knight Frankel Brow Claranet 799 £145.31 5 Birchwood Frank Innovation House, Daten Park, Orbit Galliford Try 798 £160.87 10 BE Group Birchwood 103 Dalton Avenue, UK Hearing Management Patrizia 797 £182.58 15 BE Group / JLL Birchwood Park Services Ltd 14 & 16 Bold Street & 2 Private PTS Property Ltd 697 £616.89 Freehold Morgan Williams Museum Street 780-790 Mandarin Court, Dandapher Holdings Ltd KLS Law 657 £1,111.00 Freehold Morgan Williams Centre Park & Restons Solicitors Ground Floor (East), Rutherford LCM Wealth Pin Properties 610 £145.31 Undisclosed Altus Eileen Bilton House, Birchwood Management 500 Longbarn Boulevard, J B Trustees Ltd Sharp 581 £137.78 5 Altus Eileen Bilton Birchwood Keate Property & Bollin Court, Lymm Wise One UK Ltd 575 £1, 217.42 Freehold Morgan Williams Trading Company Ltd Altus Eileen Bilton / Phoenix House, Centre Park Private Landlord Ofcom 554 £166.75 5 Knight Frank

BE Group / 1 Firecrest Court, Centre Park DIB Partnership Brookson 465 £155.91 4 Cushman & Wakefield Annual Property Review 19

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years)

210 Cygnet Court, Centre Park RAM Properties Ltd The Salvation Army 465 £139.78 10 Morgan Williams

Ground Floor, 210 Cygnet RAM Properties Ltd Steinhoff 465 £139.78 5 Mason Partners Court, Centre Park St Austin's Chambers, St LCN Properties Ltd The Heaton Group 433 £738.98 Freehold Morgan Williams Austins Lane Riverside Court, 194 Chester Osborne & Co Zachary Daniels Ltd 400 £87.26 5 Morgan Williams Road (Warrington) Ltd Ground Floor, Aquila House, Action For Children Osram 383 £134.46 5 BE Group Gemini Warrington Borough 2-8 Henry Street Undisclosed 372 £873.66 Freehold Altus Eileen Bilton Council

Cheshire & Greater BE Group / 2nd Floor and Part 1st, Priory Manchester Community Mutley Properties 354 £113.04 5 Cushman & House Rehabilitation Company Wakefield Ltd

MJF Pension Trustees 231 Higher Lane, Lymm Undisclosed 336 £967.26 Freehold Meller Braggins Limited Aintree House, Trident Long Globe SIPP CMYK Digital 307 £1,431.81 BE Group Business Park, Birchwood Leasehold Second Floor Suite, Empire Penbale Pension Institute of British Sign 259 £84.95 5 Morgan Williams Court, 30 Museum Street Scheme Language

First Floor, Sedgefield House, Trident Business Park, Crescent Trustees Schindler Lifts 254 £150.42 10 BE Group / Savills Birchwood

Keate Property & Suite B, Asher House, Lymm Bright Futures Care Ltd 251 £83.66 5 Morgan Williams Trading Company Ltd Part First Floor, 104 Dalton Patrizia Canon 246 £188.37 5 BE Group / JLL Avenue, Birchwood Park Chadwick House, Birchwood Patrizia Foss UK 223 £145.29 5 BE Group / JLL Park First Floor, 1-3 Buttermarket Flodrive Properties Hitchcock Wright & Undisclosed 218 £53.82 Undisclosed Street Ltd Partners Matthews & Unit 12, Catherine Street Ford Energy Camden Leisure 216 £64.61 5 Goodman / TFC

Studio One, Rylands Street PTS Property Ltd Imedi-let 201 £85.97 5 Morgan Williams

Green Properties Alternative Futures Suite 3C, Walnut Tree Farm 200 £129.96 6 Morgan Williams (Cheshire) Ltd Group 20

Warrington Leisure

Development of the town’s flagship regeneration scheme, Time Square, is now underway, with a temporary market hall and the new multi-storey car park currently being developed.

This marks the initial stage of the Several prestige restaurants laid down Elsewhere, Stockton Heath saw the extensive £107 million development, roots in Warrington throughout the addition of Stockyard, an American- due to be completed in 2019 and year. Notably, Italian restaurant chain style restaurant specialising in barbecue comprising a 13-screen multiplex Prezzo opened a two-floor, 126 seat food and bourbon, which opened in Cineworld cinema; a modern 3,902 sqm capacity restaurant in the town centre. the old Post Office building on London market hall; several family restaurants; Situated next to the Golden Square Road. And continuing the theme, a 1,100 space multi-storey car park, Shopping Centre, the venture has premium steakhouse Miller & Carter Council offices, retail units and a public created a further 20 jobs in the rapidly added to its portfolio by opening a square acting as a centrepiece to the expanding hospitality sector. new restaurant in the former Memphis whole development. Belle building at Gemini Retail Park. The move marks the UK wide chain’s arrival into Warrington.

1. Xercise4less 2. Warrington Market 3. Walton Gardens

£107m 3.2% Time Square increase in the health development, due to and fitness industry be completed in 2019 as a whole, operators and comprising of a have seized upon 13-screen multiplex Warrington as a Cineworld cinema. desirable location. Annual Property Review 21

3 With the Leisure Database Company’s The Council has also approved plans 2016 State of the UK Fitness Industry to develop a further neighbourhood Report revealing a 5.3 percent hub to support both Bewsey and increase in gym membership and a Dallam. The £1.5 million development 3.2 percent increase in the health and will look to complement established fitness industry as a whole, operators Livewire facilities, notably in Woolston have seized upon Warrington as a and Orford. Warrington Borough desirable location in which to take Council has committed £1 million from best advantage of this booming its capital investment programme industry. Budget gym operator and additional funding is to be Xercise4less opened in a 3,252 sqm supplied from the housing group unit at Cockhedge Centre in July, Torus, a partnership between Helena which provides a whole range of Partnerships and Golden Gates fitness suites over two floors. And Housing Trust, alongside Livewire Jungle Play Gym relocated, after 11 itself. years at Winwick Quay, over to Pinners The fast food market also saw a Row Retail Park, doubling its size to Two pubs in the Borough have seen flurry of new additions for companies provide additional play space for major facelifts. The Springbrook in already trading in Warrington, with Warrington’s younger residents. Grappenhall, owned by Marston’s Subway opening at The Derwent brewery, re-opened after a four month Group developed JunctionNINE Retail Some of the Borough’s popular closure and £1 million investment. Park, formerly Alban Retail Park, and leisure attractions saw investment The major renovation encompassed a KFC relocating to a new, larger unit over the year. Visitors to Walton Hall complete redesign and refurbishment, on the same scheme. Nandos has also Park were able to enjoy both a brand including a front extension. With an secured planning permission for a new new playground and adventure golf emphasis on al fresco dining and 325 sqm restaurant at JunctionNINE, course thanks to an investment of newly created space for 110 outside which is due to open in 2017. This £400,000 by Warrington Borough diners, the redevelopment has created is their third location in Warrington Council. Woolston Park also received 40 jobs for the village moving forward. adding to the outlets trading in the £140,000 in investment funding, which Old Fish Market in Golden Square, was used to improve the area around Greene King’s Mascrat Manor re- and on London Road in Stockton the pond by cutting the reeds back launched itself as Juniper Farm at the Heath. Elsewhere, further expansions and installing a new boardwalk. Two end of the year. Under the Farmhouse saw KFC boasting a new outlet new play areas were also installed, Inn’s banner, Juniper Farm saw an aside the Lidl supermarket near the providing a bright and attractive place extended and revamped family dining infamous Pink Eye building in Sankey for residents to play. space, and a family activity area. This Bridges and Burger King have opened modernisation reflects the decline in a new outlet in the town centre. Warrington Borough Council’s demand from customers for traditional executive board approved plans to play barns and the increased demand For the town’s coffee lovers, Starbucks provide £10.8 million to LiveWire to for larger, family dining facilities as have expanded their foothold in support the on-going development already represented through the Warrington, with a new drive-thru of the Great Sankey Neighbourhood Stonemill and Chapelford Farm. coffee shop on Oakwood Gate Hub. The £16 million project will roundabout in Birchwood. The coffee bring huge, long-term benefits, giant has also submitted a planning transforming the well-used Great application for a further drive-through Sankey Leisure Centre into a state- at JunctionNINE Retail Park, adding to of-the-art facility, providing leisure, the raft of redevelopment completed health and cultural services to the in 2016 alone. local population of 52,000 people. 22

Warrington Industrial

Transactional activity maintained a strong level in 2016, building on the previous year’s record setting total. 73 deals above 200 sqm were completed in 2016, marking the third highest total since 1999.

1 Yet again the headlines were reserved The year’s prime rent, topping £80.00/ for Omega this year, with the sqm (£7.43/sqft), was achieved at completion of two transactions above Birchwood Park with Patrizia letting 711 10,000 sqm. These will see two well- Cavendish Place to Bathgate Flooring. known names trading in 2017 when This continues the trend of Birchwood their buildings are completed. A 15-year Park setting the prime industrial rental letting of the speculative 33,091 sqm levels for the town, and was one of unit from LondonMetric Property was two lettings that completed there. The agreed with an unnamed retailer on other saw Werfen UK relocating its Omega South. Elsewhere, international laboratory supply facility from Kelvin takeaway pizza chain Domino’s Close, Birchwood. This new phase of purchased a new 10,870 sqm unit from building at Cavendish Place is the first Omega Warrington Ltd. speculative industrial development Warrington has seen for some years. The arrival of Domino’s Pizza on Omega is expected to create 120 However, Warrington’s industrial Floorspace transacted for the year new local jobs, will service 450 local market is not merely restricted to the totalled 93,460 sqm, which sits stores across the North and is a further new developments at Omega and comfortably within the Top Ten of demonstration that Warrington can Birchwood Park. As ever, a strong all recorded years and is almost 40 attract new manufacturing occupiers. level of activity across the entire town percent above the yearly average The unit will act as a supply chain demonstrates that the existing stock for the last two decades. A healthy centre, including space for production, remains in demand, particularly as level of transactions across all size storage and distribution of pizzas and property owners recycle the space ranges also demonstrates the appeal fast food products, a two-storey office, through ongoing refurbishment of Warrington’s industrial stock, for parking and substation. The site covers programmes. businesses both large and small. a 5.5 acre plot to the east of ASDA’s current distribution unit. Yet again, Woolston played a major This year deals also achieved an role in the transacting of space at average size of 1,280 sqm, driven up by both ends of the size scale. In total, the 15 deals above 1,000 sqm and the 18 units were either let or sold in the two flagship deals above 10,000 sqm. Grange area, comprising 9,835 sqm. Of these, two transactions, which saw the arrival of truck supplier Scania and Air Compressors & Tools, were above 1,000 sqm. Peter Stevens Estates continued to attract occupiers to the refurbished space at Rufford and Rivington Courts with three deals, whilst Knight Frank Investment Management let three units at Melford Court.

1. Omega South 2. Cavendish Avenue 3. Omega South Annual Property Review 23

Elsewhere, Winwick Quay and In addition to this, a 4.67 acre The looming shortage of industrial Gemini Business Park to the North development site at Omega North floorspace for Warrington was of the town confirmed themselves as has been acquired by Oxfordshire- highlighted in the Borough Council’s central locations of industrial activity, based developer, Brackley Property Employment Land Review, produced accounting for 15 deals above 200 Developments. The area, which is by BE Group, which suggests that sqm. Notably in this location, Winwick the last plot on the northern side of in 2016 the town had a vacancy Quay Business Park and Europa Omega, will be promoted for design rate of just 4.4 percent of industrial Trade Park continue to entertain a and build industrial or distribution floorspace. At 32,259 sqm, this is less strong level of interest, with Torton opportunities and can accommodate than one year’s supply. Investments and Canmoor the most units up to 8,550 sqm. active landlords. Savills’ Big Shed Briefing this year Looking forward and continuing the reports a record 3.2 million sqm of trend of quality developments at warehouse space transacted across Omega, major commercial vehicle the UK in 2016. However, whilst the dealer Haydock Commercial Vehicles North West in general saw a decline Ltd plans to develop on a 3.25 acre in such transacted space, the region green field site on Omega North. did see a 10 percent increase in deal Work is set to complete in late 2017 volume. The report highlights the when the company’s existing Haydock relative lack of speculative industrial site will relocate to this proposed development across the year, with a state-of-the-art office, parts and critically low level of availability sitting service facility development. at 2.56 million sqm. The North West specifically has the highest amount of available space of all regions, however 3 75 percent of these units are either of Grade B or C quality.

2 120 new local jobs The arrival of Domino’s Pizza on Omega is expected to create 120 new local jobs.

73 deals above 200 sqm were completed in 2016, marking the third highest total since 1999. 24

Warrington Industrial

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years) LondonMetric Prime, Omega South Undisclosed 33,091 Undisclosed 15 JLL / GVA Property Omega Warrington Omega South Dominos Pizza Group Ltd 10,870 Undisclosed Freehold JLL Ltd Units 3-7, Melbury Court, Revolution Transport IO Investment LLP 5,304 £51.13 10 Knight Frank Birchwood Services

Unit 2, Folly Lane Morbaine Ltd DFS Trading Ltd 4,645 £48.44 10 JLL / Savills

K & N Filters (Europe) Cushman & Kingdom Hall, John Street Foden Estates Ltd 2,590 £125.48 Freehold Ltd Wakefield

Two Property Unit 15, Chesford Grange, Company and Scania (GB) Ltd 1,991 £61.89 10 CBRE Woolston Consulting Ltd

Unit 261-262, Gemini Business RD and JS Cardash Matthews & GJT Ltd 1,955 £473.15 Freehold Park LLP Goodman Unit 712, Cavendish Place, Patrizia Werfen 1,629 Undisclosed Undisclosed JLL / B8RE Birchwood Park Unit 2, Heaton Court, Threadneedle Three Nations Ltd 1,399 £50.35 10 CBRE Birchwood Unit 8, Bishops Court, Winwick Altus Eileen Bilton Torton Investments Waveguide 1,368 £38.75 5 Quay / WHR Unit 5, Westway 21, Chesford Air Compressors & Tools Antler Properties Ltd 1,328 £48.44 10 Legat Owen Grange, Woolston Ltd Unit 711, Cavendish Place, Patrizia Bathgate Flooring Ltd 1,297 £80.75 15 JLL / B8RE Birchwood Park Unit 9, Taurus Park, Gemini ELQ UK Properties Ltd Origin Frame Ltd 1,210 £64.58 Undisclosed JLL Business Park Unit 1, Bishops Court, Winwick Altus Eileen Bilton Torton Investments Secured Mail 1,147 £38.75 0.25 Quay / WHR Unit 4A, Penketh Industrial Network Space Undisclosed 1,139 Undisclosed Undisclosed B8RE Estate, Great Sankey Unit 30A, Kingsland Grange, Sandown Properties Brit-Tipp Ltd 996 £59.21 10 CBRE Woolston Unit 33/35, Burtonwood Regal Polythene Abbot Wade 887 £281.83 Freehold Altus Eileen Bilton Industrial Estate

Knight Frank Unit 28, Melford Court, Altus Eileen Bilton / Investment Tachodisc 782 £51.13 5 Woolston Knight Frank Management Annual Property Review 25

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years)

Knight Frank Unit 30, Melford Court, Investment LT&T Ltd 740 £48.44 5 Knight Frank Woolston Management

Auto Plas (North West) Unit 3, Hoyle Street Brian Houghton 740 £31.76 10 Morgan Williams Ltd Unit 6, Rivington Court, Peter Stevens Estates Altus Eileen Bilton / Billsave UK Ltd 710 £59.20 5 Woolston Ltd Colliers International

Unit 14, Wharf Industrial Estate Wire Regeneration Ltd Undisclosed 692 Undisclosed Undisclosed Morgan Williams

Unit 232, Europa Trade Park, Canmoor FAUK Ltd 657 £72.69 5 Savills / B8RE Gemini

Unit 15, Taurus Park, Gemini C E Services Travis Perkins 653 £64.59 5 Altus Eileen Bilton

Unit 208A, Cavendish Place, Patrizia Mansori Cars 637 £64.61 6 JLL / B8RE Birchwood Park Unit 1, West Works, Norman Warrington Meat Preston Zabka Ltd 604 £37.67 10 Morgan Williams Street Traders Jeffrey and Linda Unit 6, Guardian Street Phillip House 583 £506.01 Freehold Morgan Williams Higham Unit 14, Colville Court, Coal Pension Reliable Food Service Knight Frank / 515 £48.44 10 Winwick Quay Properties Ltd Ltd Colliers International Unit 245, Europa Trade Park, Canmoor Airsys 494 £72.69 5 Savills / B8RE Gemini AB Holbrook t/a Unit 2 (Rear), Guardian Street T M Taylor 493 £365.07 Freehold Morgan Williams Easymove

Unit 2 (Front), Guardian Street T M Taylor H E Specialities Ltd 488 £450.81 Freehold Morgan Williams

Unit 21, Adlington Court, Cordatus Private Pension Fund 465 Undisclosed 5 GVA / B8RE Birchwood Unit 9, Ravenhurst Court, Altus Eileen Bilton / Orbit Lyons Removals 423 £51.54 10 Birchwood Colliers International

Unit 1C, Causeway Park Causeway Land Douglas Trading 418 £35.96 3 Altus Eileen Bilton

Unit 2C, Centre 21, Bridge Lane Roger Flint Undisclosed 410 £195.08 Freehold Morgan Williams

Unit 1, Winwick Point, Winwick Foden Estates Ltd Flooring UK Ltd 409 Undisclosed 5 B8RE Road 26

Warrington Industrial

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years)

Unit 3, Wharf Industrial Estate Wire Regeneration Ltd Undisclosed 390 Undisclosed Undisclosed Morgan Williams

Unit E5, Trident Industrial BE Group / Altus St Modwen Properties Underfloor Heating 369 £43.06 10 Estate, Birchwood Eileen Bilton Unit 11C/D, Trident Industrial BE Group / Altus St Modwen Properties Europol 357 £37.65 3 Estate, Birchwood Eileen Bilton Unit 256, Europa Trade Park, Canmoor Protan (UK) Ltd 345 £72.69 5 Savills / B8RE Gemini Unit 17, Rufford Court, Peter Stevens Estates Altus Eileen Bilton / UK Power Solutions Ltd 344 £59.20 5 Woolston Ltd Colliers International

Knight Frank Unit 43, Melford Court, Altus Eileen Bilton / Investment Merlin Restoration 336 Undisclosed 5 Woolston Knight Frank Management

Altus Eileen Bilton Unit 10, Easter Court, Gemini Picton Capital PME Projects Ltd 317 £67.29 5 / CBRE

Crossley Street Mews Kay and Keith Gatley LMS Technology 313 £79.90 5 Altus Eileen Bilton

AXA Real Estate Unit 6, Adlington Court, Investment Managers Undisclosed 308 Undisclosed Undisclosed GVA / B8RE Birchwood Ltd

Unit 241, Europa Trade Park, Canmoor Total Post 289 £72.69 5 Savills / B8RE Gemini Unit 17, Rivington Court, Peter Stevens Estates Altus Eileen Bilton / Boulting Group Plc 288 £58.52 5 Woolston Ltd Colliers International Unit 14, Cranford Court, IO Investment LLP James Hay Partnership 279 £462.89 Freehold Colliers International Woolston Unit 12, Cranford Court, IO Investment LLP Organon Trustees 279 £462.89 Freehold Colliers International Woolston Unit 15, Cranford Court, IO Investment LLP Mimea UK Ltd 279 £537.63 Freehold Colliers International Woolston

Knight Frank Unit 14, Melford Court, Altus Eileen Bilton / Investment Surf & Turf 275 £48.44 3 Woolston Knight Frank Management

Unit 18, Melford Court, Altus Eileen Bilton / Smiths Pensions Ltd Tanseys Coaches 275 £48.44 3 Woolston Knight Frank

BE Group / Altus Unit 17, Birch Court, Woolston Northern Trust Kouko Ltd 260 £59.45 5 Eileen Bilton / Whittle Jones

Gatewarth Industrial Estate, Warrington Borough Warrington Disability Warrington Borough 260 Undisclosed 3 Sankey Bridges Council Partnership Council Annual Property Review 27

Rent/Price Lease Term Property Vendor/Landlord Tenant/Purchaser Size (sqm) Agents (£sqm) (Years) Unit 3, Gatewarth Industrial Sanwood Kerf Furniture Ltd 247 £53.81 3 Morgan Williams Estate, Sankey Bridges Developments Ltd Unit 6, Clarendon Court, Alpha Antler Family Martial Arts 242 £61.99 5 Altus Eileen Bilton Winwick Quay Unit 107, Bewsey Industrial Morbaine Ltd Recycle Technology Ltd 232 £53.88 3 Altus Eileen Bilton Estate, Hoyle Street Unit 123, Bewsey Industrial Morbaine Ltd Bros Engineering 232 £49.57 3 Altus Eileen Bilton Estate, Hoyle Street Unit 27, Tatton Court, Smith Nicholas Pro Cranes 232 £53.88 3 Altus Eileen Bilton Woolston

Unit 29, Tatton Court, Woolston Smith Nicholas Nick Owen 232 £53.88 3 Altus Eileen Bilton

Unit 6, Gatewarth Industrial Dawsons Music Ltd The Agoge Ltd 223 £48.43 1.5 Morgan Williams Estate, Sankey Bridges Gatewarth Industrial Estate, Warrington Borough Warrington Borough Propermac Ltd 221 £50.70 2 Sankey Bridges Council Council Unit 31, Craven Court, Easy Property UK Bizspace Ltd Elite Video Systems 220 £54.68 Undisclosed Winwick Quay Ltd Unit 33, Craven Court, Easy Property UK Bizspace Ltd Euroexpo Graphica Ltd 219 £54.68 Undisclosed Winwick Quay Ltd Warrington Borough Warrington Borough Tanning Court Honest Supplements Ltd 212 Undisclosed 3 Council Council Unit 8, Gatewarth Industrial Warrington Borough Warrington Borough Undisclosed 211 £48.58 Undisclosed Estate, Sankey Bridges Council Council

BE Group / Altus Unit 7, Birch Court, Woolston Northern Trust Ludwig Haskins 209 £63.59 3 Eileen Bilton / Whittle Jones

Unit B4, Trident Industrial BE Group / Altus St Modwen Properties AJ Technology 205 £67.26 3 Estate, Birchwood Eileen Bilton Unit 25, Trinity Court, Alpha Antler Birchwood MOT 200 £51.60 7 Altus Eileen Bilton Birchwood

Knight Frank Unit 24, Trinity Court, Investment Ace Mobile 200 £53.50 7 Altus Eileen Bilton Birchwood Management

Unit G, Hoyle Point, Hoyle PTS Property Ltd Undisclosed 200 £63.00 Undisclosed Morgan Williams Street Unit H, Hoyle Point, Hoyle PTS Property Ltd Undisclosed 200 £60.00 Undisclosed Morgan Williams Street Unit E, Hoyle Point, Hoyle PTS Property Ltd Undisclosed 200 £60.00 Undisclosed Morgan Williams Street 28

This new phase of building at Cavendish Place, Birchwood, within the Cheshire Science Corridor Enterprise Zone, is the first speculative industrial development Warrington has seen for some years. Annual Property Review 29 30

Warrington Retail

Despite the economic uncertainty and general anxiety caused by the Brexit vote, consumer spending remained remarkably robust during 2016.

1 19,600 sqm JunctionNINE offers 19,600 sqm of retail space, supported by 963 car parking spaces.

2 £10m Plans for development in Westbrook, including an Aldi supermarket and six other retail units, have been submitted to Warrington BC.

UK retail sales grew at their highest Perhaps the most notable success has Just down the road, the 1,858 sqm rate since April 2002, amid fears that been at JunctionNINE Retail Park, Fordton Retail Park was sold by listed spending could be hampered by formerly Alban Retail Park. Following investor LondonMetric Property uncertainty around Brexit. And the a comprehensive £9 million expansion for £6.6 million to an undisclosed volume of retail sales increased by 7.3 and refurbishment programme, purchaser. The retail park, which has percent in October, compared to the developer Derwent Group has seen let units to Aldi, Greggs, Betfred, same month in 2015, while the amount up to 2,044 sqm of deals with new Barnardo’s and Costa, as well as family of spend rose by 6.6 percent on an tenants in the latter half of 2016. In pub restaurant The Stonemill, was annual basis, according to figures from July, The Food Warehouse opened, developed three years ago. the Office for National Statistics. having agreed to a 10-year term for a 1,208 sqm unit. In addition to this, Across town, Retail fund manager In Warrington, retailers also remained Subway took a 90 sqm unit and Pets at Pradera and Brockton Capital have put confident, with both existing occupiers Home exchanged on a 907 sqm unit. Riverside Retail Park on the market as expanding and new names moving The company announced that through part of a nine-strong portfolio of retail into premises throughout the town’s the course of 2017, Dunelm Mill, bed parks with a combined price tag of shopping and retail parks. retailer Dreams, Nandos and Starbucks around £260 million. will also establish new premises on the Golden Square Shopping Centre has park, with a number of other potential continued its success in 2016, with a tenants in ongoing negotiations. In number of new stores signing up for total, JunctionNINE offers 19,600 sqm space. New Australian stationery brand of retail space, supported by 963 car Smiggle, the UK’s fastest expanding parking spaces. shopping centre retailer, has acquired space.

1. JunctionNINE Retail Park 2. Golden Square 3. Prezzo Annual Property Review 31

It’s entrance into Warrington marks one These new tenants include The Vet, As a part of it’s rapid expansion plan, of 39 acquisitions in the UK during 2016. which agreed to a 637 sqm unit on a 15- Crawshaws Butchers has opened two Elsewhere, camping specialists Millets year lease; gym operator Xercise4Less, new outlets during 2016, one a 130 sqm has relocated to a larger 184 sqm unit in who agreed to a 3,250 sqm unit on a 12- store in Birchwood Shopping Centre a move promptly mirrored by jewellery year lease; and Indigo Sun, who agreed and another 111 sqm store on Market giant Pandora which has doubled their to a 142 sqm unit on a 15 year lease. Gate in the town centre. This £500,000 size to 108 sqm. Further demonstrating Existing tenants have also reported investment in the town forms part of the the appeal of the Golden Square to significant and continuing improvements Rotherham-headquartered firm’s long- retailers, existing tenants Swarovski, to local store turnover. term growth strategy, through which it Schuh, Starbucks, H Samuel and Sayers plans to invest £200 million and open the Bakers all extended their leases and Plans to build a £10 million development 200 new stores nationwide, potentially former mainstay HMV reclaimed their in Westbrook, including an Aldi creating around 2,500 jobs. former store to re-open. supermarket and six other retail units, have been submitted to Warrington BC. Caddick Construction has been awarded Also in the town centre, development of The mooted Delta Retail Park, which a £6 million contract to design and the long awaited and much anticipated also includes a 44-bed care facility, will build a dealership for The Car People in Time Square regeneration scheme, be built on 5,106 sqm of land bounded Warrington, with a 33-week programme, previously known as Bridge Street by Cromwell Avenue, Westbrook due for completion in April 2017. The Quarter Regeneration Scheme, kicked Crescent and Westbrook Way if 12.5-acre dealership with 3,809 sqm of off. North West building group CPUK approved, and would create a total of buildings on Calver Park Road will be The was appointed for this first stage to 200 jobs in the area. Car People’s largest facility to date, with construct the 2,369 sqm temporary 1,000 cars on display and a maximum market hall and I & H Brown to construct Away from activity at the more traditional capacity of 1,700 vehicles. the new multi-storey car park. The retail parks in Warrington, two new existing Warrington market will move supermarkets opened at the end of Early 2017 saw construction begin on a into this temporary location during 2016. Sainsbury’s opened in the former new retail warehouse on Winwick Road, 2017, allowing the old market to be Netto store at Rushgreen Road in Lymm just to the north of the town centre. The demolished. When completed in 2019, creating 60 new jobs. This follows the site measures approximately 0.6 ha and the £107 million retail and leisure-led decision by the supermarket chain to pull fronts the area currently occupied by The development will comprise a 13-screen out of its joint venture with the low-cost Range and Gateway 49 Trade Park. The multiplex Cineworld cinema, a 3,902 sqm retailer, closing all of its UK stores. Closer development is being led by Derwent market hall, several family restaurants, a to the town centre, discount retailer Group on behalf of MKM Builders 1,100 space multi-storey car park, Council Lidl increased its presence in the town, Merchants and marks a further addition offices, retail units and a public square. opening a further 1,440 sqm store on to this evolving retail area, spearheaded The temporary market shell will then be Thewlis Street in Sankey Bridges. by JunctionNINE Retail Park. converted into future retail use. 3 The newly rebranded Cockhedge Shopping Park was launched this year with a stronger, more modern logo and marketing to match. Two hours of free parking was also introduced to instant acclaim and a 77 percent increase in car park use. A noted increase in footfall is also reported as a number of new tenants have been welcomed to the Park. 32

Warrington Residential

The official House Price Index was relaunched in June 2016 by the Office for National Statistics and looks at the prices paid for homes.

The most recently published figures, for Nonetheless, amongst this national The headline findings from Warrington October 2016, show that across the UK uncertainty, Warrington is faring well Borough Council’s Annual Monitoring prices were up by 6.9 percent year-on- – continuing to be a property hotspot, Report show that in 2016, 615 new year, which is the lowest rise since the benefiting from its desirable, integral homes were completed within end of 2015. The average price of a location nestled within the centre of Warrington, of which over a quarter house in England was £217,000. the Northern Powerhouse. As with the were affordable. The percentage of previous year, 2016 saw semi-detached dwellings completed on previously Furthermore what growth there has homes making up the bulk of property developed land has remained high and, been is as a result of the shortage of sales, with the average price increasing at 94 percent, comfortably exceeds the homes for sale, according to the Royal by four percent from last year, now 80 percent target. This will ensure that Institution of Chartered Surveyors. For selling for an average of £184,601. the delivery of new homes continues to several months it has reported a fall in constitute a catalyst for regeneration. the number of properties coming on Warrington-based housing association to the market despite buyer numbers Your Housing Group (YHG) will partner 73 percent were houses, 80 percent having risen since the Referendum. with WElink Group in a £2.5 billion deal of which were three or four bedroom There is also concern from the RICS which will see the creation of 25,000 configurations. Nearly half of new that the British property market’s post- solar-powered “flatpack” houses and homes were built within the town resession boom will come to a halt in up to 1,000 jobs. The joint venture centre, including Howley Meadows, a 2017 when house prices flatline after will also involve finance from China Helena Living housing development five years of increases. National Building Material Company. scheme comprised of 37 affordable, The proposed housing will be at three-bed homes. Elsewhere notable least 75 percent off-grid and provide was the completion of the Your Housing a significant kick start towards the Group and Countryside Properties joint government’s intention to build one rental scheme Hive on Church Street. million homes by 2020.

2 72 new, 24-hour care apartments, alongside 18 independent living apartments. 1. Hive, Church Street 2. Willow Vale

£2.5 billion deal which will see the creation of 25,000 solar- powered “flatpack” houses and up to 1,000 jobs. Annual Property Review 33

The town has seen a range of desirable Warrington’s supply of extra care 2 estates emerge, providing a range facilities have also seen a boost of three, four and five bedroom this year, with Belong Care Homes executive family homes, with building developing on Loushers Lane commencing at Bloor Homes’ Willow to provide 72 new, 24-hour care Vale development in Westbrook. apartments, alongside 18 independent This is a modern development which living apartments. Comprehensive will provide 113 three, four and five resident support is focused towards bedroom houses to be developed over nursing and dementia care for the next two years. residents. Elsewhere, Warrington Borough Council’s sheltered housing Also at Westbrook, over half of scheme on Farnworth Road in Penketh Miller Homes’ Barley Green has also contributed to this increase in development was completed during the extra care supply, with the completion year. A development of 99 new three of 54 units. and four development homes.

Further homes came to the market at large ongoing developments across the Borough including 200 new homes at Phases 14 and 15 Chapelford Urban Village, built by David Wilson Homes. And Morris Homes continued to develop at both Sandford Village in Bruche and Edgewater Park in Thelwall, completing another 170 homes.

Peel in the Northern Powerhouse with Powerful Partnerships working together to deliver 150 projects in the North

The Peel Group are pleased to be working in collaboration with Warrington Borough Council in progressing the Warrington Waterfront initiative which comprises an enlarged Port Warrington, a housing led mixed-use development, the delivery of a new country park in a waterside setting and enhanced road connectivity for the town.

www.peelgroup.global 34

Looking Forward

2016 saw considerable progress made in the fulfilment of the growth ambitions set out in Warrington’s framework for growth document, Warrington Means Business.

First published in 2013, the framework Progress since 2013 in the fulfilment of This project will not only assist traffic details the town’s plans for economic Warrington Means Business has been flow but also open up land for the growth and regeneration being driven such that an updated and refreshed development of up to 500 homes. and delivered by Warrington & Co. on document was approved by Warrington behalf of Warrington Borough Council. Borough Council in November 2016. With Outline Planning Permission granted for a housing development 2016 saw the opening of The Base and In partnership with Highways England on Omega South, Omega Warrington University Technical College Warrington and Cheshire & Warrington LEP, Ltd have confirmed the appointment at Stadium Quarter. The Time Square Warrington Borough Council are of Miller Homes as the housebuilder scheme made significant progress moving forward with plans to redevelop for Phase one of the new residential including the commencement of the the heavily used Junction 8 of the M62, scheme. Planning permission has been construction of the temporary market the main access point to Omega. Work secured for the construction of 1,100 hall building and the 1,160 space multi has now commenced on the £12 million new homes, 20 percent of which will storey car park. Omega saw significant scheme and will take approximately be affordable housing, along with local further development including the 18 months to complete. The majority shops, restaurants and cafes, a public opening of Skyline Drive, production of the work will be focused on the house/bar, care home and a hotel, the commencing at Plastic Omnium, southern side of the roundabout, the area has been divided into plots to be expansion at Hermes, the building westbound slip road, Burtonwood Road completed in phases over the next 10 of a 33,091 sqm speculative unit and and Charon Way. years. The residential development will a 10,858 sqm manufacturing unit for be complemented by a 35 acre park. Domino’s Pizza. At Warrington East the Other key infrastructure works that will £5 million pinch-point roadwork project commence later this year will include the The first phase of the development, to ease traffic congestion in Birchwood commencement of Warrington Centre on a plot purchased by Miller Homes, was also completed. Park Link, a £19 million project that will sits just north of Lingley Green Avenue connect the A5060 to Wilson Patten and, subject to obtaining full planning Street through the construction of a permission, it will comprise of 200 new new bridge across the River Mersey and high-quality homes, including homes highway improvements to Slutchers Lane. for private sale as well as an element of affordable property.

Wire Regeneration, a Joint Venture 1 Company between Warrington Borough Council and Langtree has ambitious plans to regenerate Southern Gateway.

1. Proposed Southern Gateway 2. St Elphin’s Church 3. River Mersey Annual Property Review 35

The Southern Gateway development The Eastern Gateway refers to the For some considerable time this site area sits immediately to the south of the area of the new City Centre between has been identified as a strategic Town Centre abutting the River Mersey Horsemarket Street/Town Hill, School development opportunity to support and along Wilderspool Causeway. Its Brow and St Elphin’s Church. Currently Warrington’s housing and employment key output is to deliver over 1,300 new comprising underused land and growth needs into the future. Given that homes right in the heart of the town struggling retail areas, the Eastern Warrington Waterfront sits in the heart centre, together with a transformed Gateway presents a major opportunity of Warrington outside the West Coast waterfront overlooked by new and to create a large new residential ‘urban Main-line at Bank Quay rail station and attractive commercial floorspace. village’ of up to 1,000 new homes to the Manchester Ship Canal, it boosts facilitate the growth of the new City. its status as one of the busiest inland Bank Quay Gateway remains a St. Elphin’s Church will form the heart waterways in the UK. development area of intense interest, of this new ‘urban village’, comprised with the upcoming HS2 and Northern primarily of a high-density residential Previously, the Arpley Landfill site Powerhouse Rail HS3 providing a development of town houses and been an obstruction to the Warrington unique opportunity to enhance the apartments, set as a formal network of Waterfront development. The site has area surrounding the major, nationally streets and squares. now been decommissioned and will be important Bank Quay Station. fully reclaimed by Autumn 2017. The Following recent investment into the proposed development is now intended Development aspects to be addressed Liverpool 2 Superport, Port Warrington to comprise of 5,000 residential units, 2 through the Bank Quay Gateway initiative provides a significant opportunity for million sqft of new business mixed use include; a substantially improved and logistics operations and allied industries. floorspace and 300 ha of new public expanded rail station, with main entrance open space. off Liverpool Road; a new access point to the west of the station, set in place through the Warrington Waterfront initiative; a new rail hub mixed use development, comprising hotel, retailing and office floorspace, and; an improved visual aspect to the Unilever factory in order that first impressions of the new City Centre are in line with the rest of the development. … the regeneration partner of choice

2016 saw considerable progress made in the fulfilment of the growth ambitions set out in Warrington’s framework for growth document.

www.musedevelopments.com 36

Warrington Waterfront is one of the busiest inland waterways in the UK. Annual Property Review 37 38

Acknowledgements

Acuitus BE Group is a property agency, regeneration and planning consultancy and has over 30 years experience of working in the Warrington commercial property market. Allsop This report has been carefully prepared. However it is for general guidance only and Warrington Borough Council, Warrington & Co. and BE Group cannot guarantee Altus Eileen Bilton that there are no errors or omissions. The information, forecast and opinions set out B8RE herein should not be relied upon to replace professional advice on specific matters. No part of this report should be published, reproduced or referred to without the GVA prior permission of BE Group.

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