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Annual Property Review 2020

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CONTENTS

Foreword 4

Executive Summary 6

Economy 8

Investment 10

Office 14

Industrial 20

Leisure 24

Retail 28

Residential 30

Acknowledgements 34

3 Annual Property Review 2020 warringtonandco.com

FOREWORD

This year’s Annual Property Review 2019 also saw the opening of the new Warrington has had another good year – Warrington West train station, a £20.5m but, of course, the report you are about – our 22nd such review – comes at a time of project funded by the Council, the to read is a compilation of our success uncertainty, due to the COVID-19 crisis. Whilst it’s Department for Transport, developer before we were aware of the COVID-19 contributions and and situation to come. The landscape has clear that we are facing unprecedented challenges, Warrington Local Enterprise Partnership. now changed and things will be different Warrington’s economy continues to show resilience The station is providing excellent links for everyone for the foreseeable future. with Liverpool, Manchester, Warrington I will end as I began however – by and optimism. The statistics demonstrate our town’s town centre and , as a stating my confidence in Warrington’s key employment area, as well as to ongoing strength as a great place to do business, ability to be a leading destination in other major towns and cities. It’s part the economic recovery. The resilience giving us every reason to feel confident about our of our work to invest in our transport of our private sector – supported by infrastructure and build on Warrington’s future success, as we begin our economic recovery. Warrington & Co, the continuation strengths as a well-connected, of local authority-led investment, business-friendly destination. continuous partnership working and Our £142m Time Square mixed-use Warrington’s economic performance Meanwhile, another key infrastructure ambitious regeneration plans are the development – which opened in 2019 continues to outstrip other UK project – the Centre Park Link – ingredients that will enable our town – is a symbol of this, with flagship towns and cities. The Cheshire and continues at pace. The £19.89m scheme to continue to thrive and prosper. tenants Cineworld and The Botanist now Warrington Local Enterprise Partnership – which aims to ease congestion and Thanks for your support. open for business. It’s testament to the announced last year that the economy maximise Warrington’s economic confidence of the big brands in our vision is the second highest performing potential – is progressing on schedule to deliver a first class leisure, restaurant in , outside of London. and should be complete by the end Professor Steven Broomhead and retail destination – a destination of 2020. It will bring huge benefits, Chair Warrington & Co. We continue to perform well as an which will help drive our town centre supporting our ongoing growth, economic hub, with the annual Centre renaissance. The recent opening of the keeping our busy town centre network for Cities update listing Warrington £19.89m new market with its excellent hospitality moving and making Warrington a more as the fifth highest in the country, scheme, the Centre Park Link, is aiming offer further enhances this investment. attractive place to live, work and invest. based on the number of businesses to ease congestion and maximise Within this year’s Property Review, per 10,000 population, and the third Warrington’s economic potential you will find a range of independent highest based on the ratio of public statistics which show that when it comes sector to privately-funded jobs. to our economy, business sector and investment programme, we remain in an exceptionally strong position – and although COVID-19 has been a jolt, it will not prevent our growth momentum.

£20.5m £142m to deliver Warrington West Time Square mixed-use Station is one of many development is a symbol of key economic drivers ongoing strength, with flagship which opened this year tenants Cineworld and The Botanist now open for business

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INVESTMENT INDUSTRIAL LEISURE RESIDENTIAL Political uncertainty no doubt had Activity continued at Omega in 2019, 2019 saw the opening of Time Square, 2,133 residential sales were completed EXECUTIVE SUMMARY a significant impact on the reduced reflecting the consistent appetite with flagship tenants Cineworld and in Warrington throughout 2019, level of investment spend in 2019. for high quality distribution units of The Botanist opening their doors. achieving an average price of £211,094 But whilst the total of capital 9,000 sqm or more across the UK. The new civic headquarters also according to residential search invested dropped, the number of » A total of 66,072 sqm of industrial nears completion as the vision for the portal, Zoopla. This figure reflects a As Time Square nears its highly anticipated transactions remained relatively robust, property floorspace was transacted redevelopment of Warrington town 4.8 percent increase on the average although with a tempered appetite in 2019, comprising 47 deals centre takes another step forward. price reported on the site last year. completion and with yet another influx of reports for investment across Warrington, above 200 sqm. This continues The opening of the 13-screen A total of 536 homes were compared to the previous year. » » detailing the Borough’s regional economic strength, to demonstrate a healthy level of Cineworld marks the first town completed in 2018/19, 112 of which Warrington once again continues to prove its » 24 investment deals were completed activity within the Borough and centre cinema since the closing were affordable, demonstrating an throughout 2019, comprising a total includes ten deals above 1,000 sqm of the Buttermarket Street Odeon uplift of 39 percent on the number appeal to stakeholders, with strong activity investment spend of £73.40 million » The year’s largest deal saw in 1994. The Odeon in Westbrook of completions reported in 2017/18 recorded across all commercial property sectors. » The industrial sector accounted the sale of the 15,921 sqm XPO also completed its transformation » Analysed by area, for the largest amount of both Logistics facility on Howley to an Odeon Luxe facility, featuring saw the most activity, with 268 floorspace and investment spend, Lane to Vengrove. Notably 624 luxury, handmade reclining completions recorded across seats across ten screens Cheshire and Warrington Local Enterprise Partnership announced last year the latter of which totalled £34.90 this is the first time since 2015 two phases at Lingley Mere that at £32.48 billion, Cheshire and Warrington’s economy is the second million. This sector also contained that the year’s largest deal » Following the opening of Great and three phases at Omega highest performing economy in England, outside of London. This reflects the year’s largest investment deal at was also a freehold sale Sankey Community Hub in 2018, Zone 6. Elsewhere a significant the average income per head rising by an impressive 3.3 percent. In Business Park, which traded » The prime rent achieved this year the pool facilities also opened to number of completions addition, the latest Office for National Statistics data shows that this figure for £5.30 million, representing a was on Unit 1, Cedar Court on the public last year. Both the main were reported in & is growing at a faster rate than the rest of the North West of England. Net Initial Yield of 9.82 percent Taylor Business Park in Risley, in a and training pools underwent Whitecross, with 54 across three hybrid deal to Pickerings Europe, a full refurbishment, including sites on Boulting Avenue The annual Centre for Cities update once again recognised Warrington’s » £28.90 million of office investment achieving £107.64 per sqm. new filtration and insulation status as a key economic hub, with the 2020 report listing Warrington as the completed in 2019, totalling » 86 percent of all completions 9,817 sqm. This included 600 systems. Construction of the in Warrington in 2018/19 were fifth highest based on the number of businesses per 10,000 population. In this £3.25 million Bewsey & Dallam regard, Warrington boasted 510 against the UK average of 442. Warrington Lakeside Drive which was acquired houses, of which the majority RETAIL Community Hub also commenced, also ranked as the third highest based on the ratio of public sector to privately for £3.55 million, representing were three-bedroom properties. 12.91 percent Net Initial Yield. which will measure around funded jobs, with a ratio of 4.4, again surpassing the nationwide ratio of 2.9. The landscape of retail is evolving, 890 sqm over three-storeys with a recent Report by Cushman & Wakefield detailing that 20 percent » Four separate applications have OFFICE of retail sales were accounted for been approved for a new hotel and resort complex at Gulliver’s World. 2019 proved to be another significant online in 2019. Warrington, however, Works include the construction year of activity for Warrington’s office continued to blaze the trail for the of pirate ship and fairy-tale castle market, achieving the joint highest evolution of the town centre as venues, a themed play area and number of deals completed above Time Square looks to incorporate a cabin & lodge resort complex. 200 sqm and the third highest total of several retail, leisure, food and drink transacted floorspace since 2015. offerings, providing consumers with an enhanced retail experience. » 39 deals above 200 sqm were completed in 2019, comprising » Warrington BID launched 23,027 sqm. Of this, four deals ‘Warrington is Happening’, a above 1,000 sqm were reported, campaign aimed at highlighting including two over 2,000 sqm. the growing retail and leisure Deals up to 1,000 sqm offer Warrington has to offer accounted for 69 percent of all » The former Toys R’ Us unit on floorspace transacted in 2019 Gemini Retail Park has been sold » 72 percent of deals were completed to Arnold Clark. The 2.42 ha site on a leasehold basis, with an will complement the car dealer’s £73.4m £3.25m average lease length of 5.9 years. nearby existing premises, with The year’s prime rent remained an extension to be built on to the total investment construction of the 890 at £236 per sqm, at Bridgewater existing unit to house additional spend in 2019 sqm Bewsey & Dallam Place, Birchwood Park vehicle washing facilities Community Hub » 11 deals were completed on » Smyth’s Toys has become the 19th a freehold basis, including the occupier to take space on Junction year’s largest deal which saw Nine Retail Park, signing a ten-year Your Housing Group purchase lease on 1,350 sqm. The retail park the 2,636 sqm Sankey House currently totals around 17,465 sqm Image: Mountpark Warrington Omega on Birchwood Boulevard of commercial space, with a further for £1,807.79 per sqm. 5,110 sqm under development.

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ECONOMY Image: Warrington West Station

Warrington’s strong economic performance was Warrington was ranked in the UK’s With such prevalent business growth, Top 20 destinations for high-growth it is no surprise that Warrington’s put into sharp focus in 2019, through several technology businesses in the latest transport infrastructure is also set to studies which feature the town as a key driver survey by Tech Nation, placing itself see some significant investment in the ahead of Manchester and Liverpool. coming years, with a £212 million major of regional economic growth. In addition, The survey details Warrington ahead bypass to cut congestion and ease the Council’s key economic investments into of the two cities in regard to funds traffic flow, being approved for funding. raised to support company expansions The Government’s commitment to sustainable energy and an improved rail and road in the technology sector. The report contribute £142.5 million towards the 90,000 illustrated that £88 million was raised project is supported by the Council, infrastructure continue to provide Warrington new solar panels at Warrington by Warrington companies to fund which is contributing a further £70.2 Borough Council’s new solar farm businesses with a strong foundation upon which ‘second stage’ expansions of their million. The Western Link scheme development in North Yorkshire to flourish on both a regional and national scale. proven business models between 2015 is set to deliver up to a 30 percent and 2018, more than anywhere else in reduction in congestion around the the North West. Warrington is home town centre, cutting journey times by to a number of major players in the around 90 seconds per vehicle and, Plans have been approved for a new Warrington is the third largest financial International ratings agency Moody’s technology sector, including Hewlett crucially, helping to improve air quality. purpose-built bus depot in Warrington. centre in the north west according to maintained the A1 credit rating Packard, Datel and MDS Global. The link will also provide greater The Wire Regeneration Scheme will a report by TheCityUK in 2019, behind achieved by Warrington in 2018, ease for journeys getting in, out and see Warrington’s Own Buses relocate only Manchester and Liverpool in the following a comprehensive review of An element of this performance can be through Warrington, by constructing headquarters to land off Dallam Lane, region. A total of 14,755 people are the Council’s financial plans, financial attributed to The Base, the 4,645 sqm a high-level bridge crossing over the thereby allowing the depot to sit much employed in financial and professional performance, economic record and a town centre office building which , which will reduce the closer to the town’s main bus station. services jobs in Warrington, nearly full analysis of current and future risks. opened in 2016 and is home to a impact of Ship Canal swing bridge This will also afford the company the 13 percent of residents, contributing The overall outlook of Moody’s report number of companies across several openings. This will also potentially opportunity to invest in the future by £373 million to the town’s economy. complemented the Council, highlighting disciplines in the technology, software open up land for development for improving staff facilities and service that it was continuing to perform well, and engineering sectors. A recent Warrington South is the second most up to 24,000 new homes as well as to passengers. To be built on a 1.6 ha with a resilience and a stable outlook. survey of tenants at The Base revealed entrepreneurial constituency in the UK substantial employment opportunities, site on the Warrington Central Trading that average sales growth across all outside London, according to a new Broadband Choices conducted a including Peel’s Port Warrington. Estate, the three-storey proposal will occupiers in 2018 was 46 percent. report by Red Flag Alert. Warrington study into the friendliest locations support around 220 jobs and allow 41 percent of companies also took Work has completed on Warrington was narrowly beaten by Birmingham for those seeking employment in the bus company to add a further 20 on more staff. In another key indicator Borough Council’s new solar farm Ladywood but boasted 64 companies the UK, a study in which Warrington vehicles to its fleet, taking the total to of growth, 66 percent of tenants development in North Yorkshire. starting up, per 1,000 people, in 2018. came third in the UK. Citing the town’s 140 buses. Under an initial timescale, also launched a new product or Developer Gridserve has installed Warrington South’s achievement is robust road, rail and broadband the bus depot is set to be complete service line in 2018 and 58 percent more than 90,000 solar panels, 300 highlighted further as the average infrastructure, Warrington ranked and operational by Summer 2021. collaborated with fellow tenants within MWh of batteries and 500 kilometres number of companies per 1,000 people significantly above several cities the building. This highlights the strong of cable on the 80 ha site in York. The Warrington West Station opened in across the UK was revealed to be 9.34. including London, Sunderland and ‘eco-system’ The Base encourages, 34.7 MWp solar farm is the first site December, servicing the Chapelford Bradford, all of which were featured in allowing an outward looking and of its kind purchased by the Council, and Great Sankey areas with the bottom ten of the study’s rankings. ambitious culture amongst occupiers. which will soon be joined by a 25.8 regular connections to Liverpool MWp solar farm in Hull, to be handed and Manchester. The £20.5 million over in early 2020. The Council project was funded by Warrington expects the two projects to generate Borough Council, the Department for an operating surplus of more than Transport, Cheshire & Warrington Local £100 million over 30 years to invest Enterprise Partnership and developer in essential services. Gridserve will contributions. The station will run two operate and maintain both projects. services an hour through the station for local residents. Following the opening, Warrington Borough Council £212m subsequently announced that 12 free car charging points will be made £88m major bypass to cut available to commuters and passengers. was raised by Warrington congestion and ease companies to fund ‘second traffic flow, being stage’ expansions of their approved for funding proven business models between 2015 and 2018

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INVESTMENT 1. The Square, Birchwood 2. Penketh Business Park

Last year it was reported that total investment spend in Warrington surpassed £2 billion since the inception of the Warrington Annual Property Review. Whilst a strong figure on which to build moving forward, political uncertainty no doubt had a significant impact on the reduced level of activity in 2019.

Whilst investment spend dropped, Penketh Business Park was acquired the number of transactions remained by Caisson Investment Management relatively robust in 2019, with £73.40 for £5.30 million from M20 property million invested across 24 deals. in what was the largest investment Recent years have seen the completion deal of 2019. The deal represented 1 2 of several significant investment a Net Initial Yield of 9.82 percent. transactions, including Warrington Elsewhere, just south of the town Borough Council’s acquisition of centre, Causeway Park was purchased Birchwood Park in 2017 and of the Eddie 62Ksqm by Warrington Borough Council as it Again with recent years The neighbouring building on Stobart HQ in 2018, and although 2019 continued to strengthen and diversify of industrial floorspace demonstrating significant Mersey Street, Priory House, did see activity on significant sites, it its portfolio of sites across the town. traded, the largest activity in the office investment was also sold, to a Private can be argued that the year did not The 12,475 sqm estate was purchased proportion of floorspace market, 2019 would have some Investor for £0.82 million. The quite match its recent predecessors. for £6.51 million and represented a and investment spend way to go in order to maintain multi-occupied, 724 sqm office The industrial sector accounted for the Net Initial Yield of 8.73 percent. the same level of success. building was sold by Mutley WARRINGTON ADVERT 2020 70x100.qxp_Layout 1 19/03/20 largest proportion of both floorspace Nonetheless, several transactions Properties in a deal reflecting a A 6,410 sqm warehouse investment and investment spend, with 62,456 were completed, totalling 9,817 Net Initial Yield of 9.46 percent. on Appleton Thorn Trading Estate sqm and £34.90 million traded sqm and a total investment These two neighbouring deals completed, with The Charities Fund respectively. Primarily thanks to the spend of £28.90 million. are the only two reported town acquiring the space for £4 million. INTERNATIONAL sales of Penketh Business Park and centre investment deals in 2019. Rentokil sold the building, which is 600 Lakeside Drive was acquired Causeway Park, collectively accounting currently let to delivery firm City Link, by Northwood International Each year the retail and leisure COMPANY for 42 percent of this space and 34 at a rate of £47 per sqm and with Acquisitions in a move which saw sectors play a supplementary role percent of industrial investment spend, four years remaining on a ten-year the 2,832 sqm building exchange in Warrington’s investment market a number of smaller transactions across LOCAL lease. The building has 5,481 sqm of £5.3m for £3.55 million, representing a and 2019 was no exception. Both Birchwood, Woolston and Gemini warehouse and storage space, with used by Caisson Investment Net Initial Yield of 12.91 percent. sectors combined accounted KNOWLEDGE continued to demonstrate an albeit the remaining office space split over Management to aquire Also notably, Lingley Mere for £9.53 million worth of tempered appetite for investment With over half a million sq.ft. of workspace two-storeys. The sale represented Penketh Business Park Business Park traded to a private investment spend, with activity across the Warrington region, totalling opportunities across Warrington. a Net Initial Yield of 7.2 percent. investor for £19.80 million. 2,300 in the town centre, Penketh over 30 properties, you’ll be sure to find sqm of space on the site reflected and Winwick. Notably one of the right space for your business with a Net Initial Yield of 7.25 percent. the town centre transactions, Orbit Developments. on Academy Place, backs on Property investment company Ace to Time Square, indicating the Liberty and Stone acquired Norton FOR CURRENT appetite of local investors for House on Mersey Street for £2.90 OPPORTUNITIES space within proximity of the site. million, in turn purchasing the only FROM: 500 - Jobcentre Plus serving the South 50,000 SQ.FT Warrington constituency. The THE SQUARE CALL US: 1,691 sqm property is currently WARRINGTON | WA3 7PS occupied by the Ministry of £28.9m Housing, Communities and Local 01625 588200 total investment spend in the Government until March 2027 www.orbit-developments.co.uk office investment market and the deal represented a Net Initial Yield of 7.50 percent.

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INVESTMENT

OFFICE INDUSTRIAL

Vendor/ Size Size Price Net Initial Vendor/ Size Size Price Income Net Initial Property Purchaser Tenant Income (£/pa) Agents Property Purchaser Tenant Agents Landlord (Sqft) (Sqm) (£m) Yield (%) Landlord (Sqft) (Sqm) (£m) (£/pa) Yield (%)

Northwood Avison 600 Lakeside Cushman & Penketh Business Caisson RDI REIT Plc International 30,486 2,832 3.550 Countryside 488,000 12.91 Young / Drive Wakefield Park, Cleveleys M20 Property Investment 150,000 13,935 5.278 Various 600,000 9.82 Acquisitions Ltd Carrick Real Road, Penketh Management Estate Lingley Mere AAIM Cushman & Business Park, Warrington Private Investor 24,753 2,300 19.800 Various 1,532,901 7.25 Wakefield Warrington Great Sankey Unit Trust Avison Causeway Park Private Landlord Borough 134,282 12,475 6.510 Various 606,139 8.73 Young Ministry of Council Nolan House, Housing, Private Ace Liberty ADS Real Source: 10 Mersey 18,202 1,691 2.900 Communities 232,400 7.50 27 Leacroft Road, Leacroft Road Landlord and Stone Estate Private Landlord 116,884 10,859 0.275 DCW Ltd Undisclosed Undisclosed Radius Data Street and Local Birchwood Estates Ltd Government Exchange

Rushgreen Rushgreen Units 1-4, 31 Alpha UK MREF IV Private Source: Radius Crest Works, Carlton Land Holdings 14,111 1,311 0.160 Various Undisclosed Undisclosed Chesford Grange, Property Fund Logistics 101,141 9,396 5.250 330,187 5.90 Knight Frank Landlord Data Exchange Medical Ltd Road, Ltd Woolston Asset Co. One Ltd BE Group Priory House, Mutley Warehouse, Private Investor 7,796 724 0.820 Various 81,115 9.46 / Read The Charities JLL / Avison Mersey Street Properties Appleton Thorn Rentokil 69,000 6,410 4.000 City Link 305,670 7.20 Properties Fund Young Trading Estate Unit 3, Olympic Private Private Avison Park, Olympic Private Investor 5,020 466 0.780 74,240 9.11 BE Group 630 Europa Landlord Individual Private Landlord Private Investor 26,948 2,504 2.440 Senko UK 168,023 6.47 Young / B8 Way, Woolston Boulevard, Gemini Real Estate Zenith House 702, Birchwood Developments Private Investor 2,949 274 0.500 Various Undisclosed Undisclosed BE Group Source: One, Birchwood 31 Kingsland Robert Graham Bureau Ltd Private Landlord 19,902 1,849 1.050 Undisclosed Undisclosed Radius Data Grange, Woolston Trustees Ltd Veritas Exchange 502 Private M&W Holdings M&W Source: Radius 2,357 219 0.400 Undisclosed Undisclosed Road, Landlord UK Ltd Electrics Ltd Data Exchange Unit 4c, Stretton Apple Tree Cotton Read Cotton Club Distribution Properties 18,000 1,672 0.900 Club (UK) 32,000 3.37 Property (UK) Ltd Centre, Appleton (North West) Ltd Ltd Associates RETAIL Warrington Travelodge, 2 Apollo Park, Private Landlord Borough 17,200 1,598 8.500 Harvester, 544,719 6.01 Savills Gemini Vendor/ Size Size Price Net Initial Council Starbucks Property Purchaser Tenant Income (£/pa) Agents Landlord (Sqft) (Sqm) (£m) Yield (%) Unit 6, Centre Link Distribution Black White Private Morgan 21, Bridge Lane, 14,217 1,321 0.270 25,800 9.47 P/O by Black Ltd Investments UK Individual Williams 16 & 16a Woolston DPI Properies Hat Lesiure Morgan Legh Street, Ruffe 7,385 686 0.258 24,500 9.24 Ltd Ltd / Private Williams GA Warrington Unit 9, Cranford Source: Individual Tower Pension Mechanical Court, Hardwick Private Landlord 2,968 276 0.215 Undisclosed Undisclosed Radius Data Trustees Ltd Services P/O by Grange, Woolston Exchange 3-5 Academy Cynthia Morgan Ltd Lee Jones 2,491 231 0.240 Voodoo 14,000 5.69 Place Hulstrom Williams Tattoo 438-442 Warrington Orford Watkinson Private Morgan 1,731 161 0.300 24,000 7.74 Road, Glazebury Investments Ltd Group SIPP Individual Williams Purple 6 Station Private Castle Source: Radius Commercial 689 64 0.110 Undisclosed Undisclosed Road, Penketh Landlord Computers Data Exchange Ltd LEISURE

Vendor/ Price Income Net Initial Property Purchaser Size (Sqft) Size (Sqm) Tenant Agents Landlord (£m) (£/pa) Yield (%)

Delph Park Source: Private SGSS TDS Specialist Care Undisclosed Undisclosed 8.920 Private Undisclosed Undisclosed Radius Data Landlord (Nominee 1) Ltd Centre, Winwick Exchange

P/O = Part Occupied

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11 deals were completed on a freehold resources with which fast growth basis, including the year’s largest technology businesses can thrive. The OFFICE deal which saw Your Housing Group 23Ksqm Base is also home to the BaseConnect purchase Sankey House on Birchwood of office space was online networking platform, which Boulevard for £1,807.79 per sqm. This transacted throughout 2019 provides a networking hub for leading was also the largest freehold value engineering and technology innovators achieved in 2019. The 2,636 sqm involved in the Warrington area and informal meetings, as well as access Despite the backdrop of political uncertainty and with building is arranged over three floors has more than 260 members. to the site’s wide range of services and includes 157 car parking spaces. statistics suggesting an increased average deal completion including crèche, gym and auditorium. The Outset, formerly Bank Quay House, The building was sold following The showroom itself features Hoover’s has undergone a comprehensive timeframe, 2019 still proved to be a significant year for a recently completed £1 million ‘Kitchen of the Future’ installation, refurbishment which saw the complete programme of refurbishment works by Warrington’s office market, achieving the joint highest complete with smart appliances modernisation of the 2,415 sqm office previous owners TBF & KL Thompson and a virtual reality experience. building on Sankey Street. The entire Trust. Your Housing Group join a amount of deals completed above 200 sqm and the third 185 sqm ground floor reception significant list of occupiers already in Services on Birchwood Park have also and café area has been completely highest total of transacted floorspace since 2015. occupation on Birchwood Boulevard, been improved following the launch remodelled into a contemporary facility including New Balance, The Homes and of its £850,000 meet-and-eat working comprising co-working space, meeting Communities Agency, Avios and Fircroft. destination, ‘The Engine Rooms,’ which and telephone pods, new reception A total of 23,027 sqm of office space was 2018 saw Birchwood Park set a record for is set to promote collaboration and Following the news that New and a café. The refurbishment also transacted throughout 2019, comprising prime rents in Warrington, with £236 per wellbeing amongst the Park’s 6,000 Town House and Quattro are to be extends to the office space itself, 39 deals. 72 percent of these were sqm achieved at Bridgewater Place and occupiers. Birchwood Park’s central demolished and redeveloped for a with the accommodation remodelled completed on a leasehold basis, with a 2019 followed suit, with the Ground Floor of hub has been transformed into an new residential scheme, focus turns to offer co-working, serviced and return to focus on more modest deals, up 301 Bridgewater Place achieving the same integrated meet, eat and workspace, to the new civic headquarters being conventional office space to let. to 1,000 sqm. Notably deals within this level for the 1,262 sqm deal agreed with MHI offering the very best facilities for constructed on Time Square, due for size range accounted for 69 percent of all Vestas. Elsewhere, rental levels remained Park occupiers and the general St James Business Centre on imminent completion in early 2020. floorspace transacted throughout 2019. notably robust with the Brewhouse and public, including a range of food Wilderspool Causeway secured a trio Staff from these two existing buildings Quayside at Wilderspool Business Park and drink options, alongside quality of new tenants, with the occupiers This in part accounts for the slight drop in will now move to the new facility, achieving £182 per sqm and £188 per sqm meeting and conference facilities. taking more than 280 sqm of space the average deal size, down from 675 sqm in joining Council colleagues from The respectively and 2 and 3 Daten Park in between them. TPS Civil Engineering, 2018 to 590 sqm in 2019. With office supply Base, Rylands Street, Museum Street The Base now comprises 23 tenants Birchwood both achieving £171 per sqm. 4Ward and ABL are all proof that SME’s on the decline, only four deals above 1,000 and Contact Warrington, in an effort to and 246 staff, following the successful remain confident in their trajectory, sqm were reported, of which only two were integrate Council staff from a number lettings to a host of new tenants, despite the political uncertainty above 2,000 sqm, both in Birchwood. of locations across the town centre. including Baker Mallett who took the they have faced in recent years. penthouse suite. The construction The new office building will be based industry services specialist over five floors and has desk space moved its headquarters into for 800 workers. As well as public the building, which sees them areas, the new building will also occupy the top floor suite and include meeting rooms, kitchen / two extra supporting offices breakout areas and a conference Proud to be in order to satisfy growing suite. Showers, changing facilities and client demand. The quantity Working in lockers will be included across the surveying company works building and the office space will be across Europe and can now Warrington open plan, with 800 workstations and take advantage of the Base’s Baker Mallett provides Quantity Surveying, Project a 7:10 ratio of desks to employees. Management, Building Surveying and Health & Safety eco-system of technology- Services, for both public and private sector. Reported as a deal in the Warrington driven businesses with whom Annual Property Review 2019, Hoover it can collaborate as it grows. Candy has now launched its large- The Base also welcomed scale office, complete with a 232 sqm PixelTree Media and showroom at 302 Bridgewater Place Moorgate Enterprises, on Birchwood Park. The modern, cementing itself as Grade A office space comprises a Warrington’s fastest growing café, breakout areas and space for technology and engineering hub. Between the two occupiers they took more per than 90 sqm, testament to The Base’s ambition to sqm provide the support and £236 The Base, Dallam Lane, 2018 saw Birchwood Park set Warrington, Cheshire, WA2 7NG a record for prime rents in www.bakermallett.com Warrington, with £236 per sqm Image: Engine Rooms, Birchwood Park achieved at Bridgewater Place

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OFFICE

Tenant/ Size Rent/Price Lease Term Tenant/ Size Rent/Price Lease Term Property Vendor/Landlord Agent(s) Property Vendor/Landlord Agent(s) Purchaser (Sqm) (£/Sqm) (Years) Purchaser (Sqm) (£/Sqm) (Years)

Sankey House, Birchwood TBF & KL Your Housing Private 2,636 1,807.79 Freehold Canning O'Neill 5b Olympic Park, Birchwood Private Individual 374 1,420.85 Freehold Morgan Williams Boulevard, Birchwood Thompson Trust Group Individual

2 Daten Park, Birchwood Orbit Developments Stantec 2,054 171.69 10 BE Group / CBRE BE Group / Read 11b Olympic Park, Birchwood Private Investors Pinnacle UK Ltd 373 1,291.68 Freehold Property Associates Ainsworth The Academy, Bridge Street Sterling Properties 1,263 1,076.40 Freehold BE Group / LSH Projects 1st Floor, 910 Birchwood Frankel Brow Druck / GE 372 156.08 5 BE Group / Knight Frank Boulevard, Birchwood Ground Floor, 301 Bridgewater Place, Warrington MHI Vestas 1,262 236.81 10 BE Group / JLL Birchwood Park. Birchwood Borough Council Part Ground Floor, 101 Dalton Avenue, Warrington Orica 367 174.92 10 BE Group / JLL Birchwood Park, Birchwood Borough Council 1st Floor East, Chadwick House, Warrington Bam Nuttall / 990 156.08 3 BE Group / JLL Birchwood Park, Birchwood Borough Council Morgan Sindall Part 2nd Floor, 303 Bridgewater Warrington AECOM 308 215.28 5 BE Group / JLL Place, Birchwood Park , Birchwood Borough Council London & Scottish Birkdale House, The Links, Birchwood Serco 982 156.08 10 BE Group / Knight Frank Investments Clowes MDJ Property 80 Buttermarket Street 293 1,237.86 Freehold Roberts Vain Wilshaw Developments Investment Gladman 4 Webster Court, Gemini 360 Resourcing 936 1,022.58 Freehold BE Group / CBRE Developments Amey Utility Ground Floor, 7 Webster Court, Gemini Exclusive Education 279 156.08 3 BE Group Services Herbert Street 1410 Centre Park Square, Centre Park Gov Data 862 1,194.80 Freehold BE Group / Knight Frank Partnership 1st Floor, Quayside, Wilderspool Plumbing and Bruntwood 274 188.37 5 BE Group / JLL Business Park Heating Columbia BE Group / Cushman 1st Floor, Europa House, Gemini Schneider 836 156.08 10 Empire Court, 30 Museum Street Penbale Unyte 252 53.82 5 Morgan Williams Threadneedle & Wakefield Read Properties Grundfos 10 Egypt Street Private Individual Abarka Ltd 251 1,414.34 Freehold 3 Daten Park, Birchwood Orbit Developments 797 171.69 10 BE Group / CBRE Associates Pumps Ground Floor, Quayside, Read Properties Bruntwood C4 Projects 251 188.37 5 BE Group / JLL St Roccos Wilderspool Business Park 65 Mersey Street Acaster Llp 764 71.99 10 Associates / Hospice Kenney Moore Building 2, Quay Business BE Group / Roberts Bauer Sloane Curtis 244 139.93 5 Centre, Winwick Vain Wilshaw Part 4th Floor, 401 Faraday Street, Warrington AECOM 609 165.77 5 BE Group / JLL Birchwood Park, Birchwood Borough Council Read Properties Priory House GDMJ Ltd Ccody's 234 51.28 5 Associates 3 Cygnet Court, Centre Park Private Individual Brookson 589 156.08 2 Morgan Williams 310 Firecrest Court, Centre Park Squarestone Hub Brookson 232 166.84 10 BE Group Ground Floor, Brewhouse, Bruntwood Ameritz 556 182.99 5 BE Group / JLL Wilderspool Business Park Suite 1, Bankside, Crossfield Street M & A Property Ltd Papyrus 230 129.38 3 Morgan Williams

Bankside Private Individual NPS 492 129.17 5 Cushman & Wakefield Lower Ground Floor, Brewhouse, Bruntwood Vaultex 223 177.61 5 BE Group / JLL Wilderspool Business Park Warrington Visually Read Properties 4 Museum Street SK 01 Ltd 492 633.13 Freehold Impaired People Associates 8 Asher Court, Barleycastle Trading Estate Keate Property OPEC CBRNE 207 69.54 3 Morgan Williams

Clowes St Mary's Part Ground Floor, 401 Faraday Warrington Servelec 2 & 3 Priory Court 469 1,011.82 Freehold Roberts Vain Wilshaw 201 172.12 5 BE Group / JLL Developments Church Street, Birchwood Park, Birchwood Borough Council Controls Ltd

Private London & Scottish 51 Winmarleigh Street RPS 446 672.75 Freehold Roberts Vain Wilshaw Suite 36/37, Genesis Centre, Birchwood UK Power 200 150.70 3 Roberts Vain Wilshaw Individual Investments

Part Ground Floor, 401 Faraday Warrington DBD 436 174.92 5 BE Group / JLL Street, Birchwood Park, Birchwood Borough Council

Ensphere House, Taylor Ribston Ltd Airangel Ltd 391 129.17 4 Ribston Ltd Business Park, Risley

16 17 Annual Property Review 2020 warringtonandco.com

1. Time Square, Bridge Street entrance 2. The Base 3. Mountpark Warrington Omega 4. Cineworld, Time Square 5. Great Sankey Community Hub

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18 19 Annual Property Review 2020 warringtonandco.com

INDUSTRIAL

Activity continued at Omega this year, reflecting the consistent appetite Construction of the new phase came Mail’s North West Distribution Centre. Plans have also been approved to alongside the announcement that Sitting close to Junction Nine of M62, develop the only remaining vacant plot for high quality distribution units of 9,000 sqm or more across the UK. Manchester Studios, operated by All neighbouring occupiers on the scheme at Appleton Thorn Industrial Estate. Warrington continues to satisfy occupier demand within the logistics Studios, were to be expanding onto include AHH Pharmaceuticals and Manchester-based P4 Planning secured Birchwood Park by taking two self- wholesaler Top Grade Sportswear. full planning approval on behalf of and distribution sector which, according to a report by JLL, remained contained units of 1,415 sqm and 637 industrial fund Powerhouse Propco II, As reported, Warrington’s strong sqm. Both Birchwood units will provide which will see the Luxembourg-based the most resilient sector in the UK property market in 2019. performance at the larger end of soundstage facilities to complement applicant spearhead a new 4,678 the scale in 2019 is commendable, the studio’s primary base in Manchester sqm speculative warehouse on the especially given that the latest Logistics itself, which is home to productions 1.8 ha site. The redevelopment will A total of 66,072 sqm of industrial The year’s largest leasehold deal With supply decreasing and take- Market Report by Savills details a for Netflix, Sky, BBC and ITV. The comprise the construction of the new floorspace was transacted in 2019, saw activity continue at Omega as up levels reflecting this, rents grew reduction in transactional activity move is a step in a new direction for warehouse, along with office space, comprising 47 deals above 200 Mountpark Properties let their 12,808 slightly in 2019, with the prime rent for 2019, representing a 9.8 percent Warrington occupiers and will provide landscaping and associated works. sqm. Whilst slightly below the take- sqm unit to national e-commerce achieved this year on Unit 1, Cedar decrease below the five-year average. the creative sector with an opportunity up seen in previous years, in part specialist, The Delivery Group. The Court on Taylor Business Park in Risley, Supply at this large scale has also In addition, there is also evidence to expand in new and exciting ways. because of a reduced level of activity company will base a mail hub at the in a hybrid deal to Pickerings Europe, declined, with the supply of warehouse of intended speculative activity in at Omega, this figure nonetheless site as part of plans to consolidate its achieving £107.64 per sqm. Elsewhere Bridgewater Community Healthcare space for units over 9,000 sqm also Appleton Thorn with plans proposed demonstrates a healthy level of North West operations. The move also rents strengthened on Europa Trade NHS Foundation Trust agreed a reportedly at a reduced level of 6.2 for another employment site, submitted activity within Warrington and includes allows the distribution company space Park, with the Canmoor-managed 15-year lease on a 4,270 sqm unit at percent below that recorded in 2018. by developers Langtree and Panattoni. ten deals above 1,000 sqm. to expand on site as the operation estate achieving £84.44 per sqm Europa Point. The facility comprises The new site, dubbed Six 56 Warrington grows. The unit was let at £69.97 and £85.57 per sqm to Focke Meler It is positive then that Eddie Stobart However, the year’s largest deal saw a warehouse with mezzanine and is proposed at Junction 20 of the M6 per sqm on a 20-year lease. The and Diva Costumes respectively. has secured approval to build a 33,900 the freehold sale of the 15,921 sqm a two-storey adjoining office block. and Junction 9 of the M56. The scheme property is one of four units, totalling sqm facility on the Barleycastle Lane XPO Logistics facility on Howley Lane Alongside the year’s largest deal, Leased at £75.35 per sqm, the facility will focus on providing more than around 70,400 sqm at Omega, which site in Appleton Thorn, adjacent to to Vengrove, for an undisclosed figure. three other sales were completed in has undergone a full refurbishment with 278,000 sqm of employment space for Mountpark funded and worked in its existing campus. The £75 million Notably this is the first time since 2015 2019, including one long leasehold the Trust having consolidated several logistics companies and, if approved, partnership with Omega Warrington distribution centre is expected to be that the year’s largest deal was also a to Cheshire Sandstone at £958.63 of its clinical service operations into the could generate £7.1 million a year in new and Homes England. The first 32,158 completed in 2020 and will create freehold sale. The previous instance per sqm. The other freehold deals single site on Gemini Business Park. rates for investment in local services. sqm unit was let to Royal Mail in 2018 480 jobs and training opportunities for of this was the sale of the 33,073 were for units under 350 sqm, the before construction had completed. A 2,416 sqm unit on Calver Quay in Warrington residents. The plans sqm Omega South to LondonMetric largest at Unit 8, Adlington Court in Winwick is to be occupied by gearbox will also see £6 million invested Property for £907.00 per sqm. The industrial market saw activity Risley, which was sold to Rack & Shelf manufacturer Bonfiglioni UK. The into the local road network across a wide range of areas within Labels UK at £401.50 per sqm. Following the precedent set by previous company took the refurbished unit and up to £18 million into the the Borough. Floorspace transacted years, seven of the year’s ten largest Following the successful completion from Landlord LondonMetric at £69.97 local economy each year. in Gemini and Winwick accounted leasehold deals were completed with of Phase One of Cavendish Place in sqm and will sit beside the Royal for 21 percent of the year’s take-up in at least a ten-year lease. Three of these 2016, and a new £12 million investment, 2019, with Birchwood accounting for were completed with a 15-year lease Birchwood Park began construction 13 percent and Woolston 7 percent. @ j8 of the M62 and the year’s second largest deal, at on Phase Two in 2019, comprising five Notably however, the two largest The North West’s premier Mountpark, Omega, was completed industrial units totalling 15,800 sqm. deals of the year accounted for logistics location with a quite significant 20-year lease. The completed units will be a mix of almost 44 percent of take-up in 2019, Over 4.5m sq ft constructed two 1,670 sqm warehouses, a 2,230 highlighting just how important Omega sqm warehouse and larger 4,645 736,300 sq ft now on site continues to be as a barometer of sqm and 5,390 sqm warehouses. Units from 91,247 - 184,537 sq ft industrial activity in Warrington. Available Immediately Units from 203,180 - 307,807 sq ft Available from Jan 2021

JLL [email protected] +44 (0)161 828 6415

Omega is being delivered by Omega Warrington Ltd (OWL), a Miller sqm m Developments company, in partnership with landowner Homes 66K £12 England and supported by Warrington Borough Council and the of industrial floorspace was investment, Birchwood Park Cheshire and Warrington LEP. transacted in 2019, comprising began construction on Phase Two www.omegaopportunity.com 47 deals above 200 sqm in 2019, comprising five industrial units totalling 15,800 sqm Image: Cavendish Place, Birchwood Park

20 21 Annual Property Review 2020 warringtonandco.com

Tenant/ Size Rent/Price Lease Term Property Vendor/Landlord Agent(s) INDUSTRIAL Purchaser (Sqm) (£/Sqm) (Years) Titania Ltd c/o Clarkson Unit 17, Grosvenor Grange, Woolston 511 59.20 10 B8 Real Estate Citivale Ltd Evans Ltd

LaSalle Investment Unit 12 Colville Court, Winwick Quay Barcode Elite 497 69.97 5 Knight Frank Management Tenant/ Size Rent/Price Lease Term Property Vendor/Landlord Agent(s) Unit 3e, Lyncastle Way, Purchaser (Sqm) (£/Sqm) (Years) Private Individual MG Carriers Ltd 489 69.43 5 Morgan Williams Barleycastle Trading Estate Howley Lane XPO Logistics Vengrove 15,921 Undisclosed Freehold CBRE Lancashire County Unit 34, Melford Court, Hardwick Riverside Knight Frank / Roberts Council Pension 486 59.20 5 Mountpark The Delivery Grange, Woolston Spirits Ltd Vain Wilshaw Unit 2, Mountpark, Omega 12,808 69.97 20 CBRE / JLL Fund c/o KFIM Properties Ltd Group Unit 17, Tatton Court, Woolston Undisclosed SPL Powerlines 485 59.20 5 Roberts Vain Wilshaw Rix Motor Dallam 1, Folly Lane, Bewsey Morbaine Ltd 4,805 42.52 5 B8 Real Estate / JLL Company BE Group / Roberts Unit 10, Ravenhurst Court, Birchwood Orbit Developments Essens UK 467 55.97 5 Vain Wilshaw Europa Point, Europa Boulevard, Greenstone Bridgewater B8 Real Estate / Azure 4,270 75.35 15 Gemini Business Park Sovereign NHS Trust Property Consultants Unit 7, Gemini Trade Park, B8 Real Estate / M7 Real Estate LLP Care Co UK Ltd 466 75.35 10 Europa Boulevard Roberts Vain Wilshaw Unit 1, Calver Quay, Winwick LondonMetric Bonfiglioni UK 2,416 69.97 15 JLL Unit 49, Melford Court, Hardwick S. I. Pension Connection Unit 16, Gawsworth Court, Davies Harrison 438 59.20 5 Roberts Vain Wilshaw Warehouse REIT Go Interiors Ltd 1,884 72.66 10 Grange, Woolston Trustees Ltd Flooring Ltd Risley Road, Birchwood Real Estate The Wire Unit 1, Westway 21, Chesford Columbia Granning B8 Real Estate / Unit E1, Trident Business Park, Birchwood St Modwen 348 50.60 8 BE Group 1,814 59.20 10 Gymnastics Grange, Woolston Threadneedle Group Ltd Knight Frank Unit 242, Europa Trade Park, Unit 2b/c, Lane Undisclosed Quest Medical 1,764 48.44 5 B8 Real Estate Canmoor Diva Costumes 348 85.57 5 Savills Gemini Business Park

Unit 203, Cavendish Place, Warrington Unit 20, Rufford Court, Hardwick B8 Real Estate / Allied London 1,415 74.81 15 B8 Real Estate / JLL Undisclosed Sharples Group 346 64.58 3 Birchwood Park, Birchwood Borough Council Grange, Woolston Roberts Vain Wilshaw

Unit 211, Europa Trade Park, Aesthetic Sanwood Canmoor 1,394 69.97 10 B8 Real Estate / Savills Units 2&3, Gatewarth Industrial Estate Sodexo Ltd 336 74.27 5 Morgan Williams Gemini Business Park Technologies Developments Ltd

Smithfields Unit 8&9, Gemini Trade Park, P&G Packaging Canmoor Enjoy (UK) Ltd 998 75.35 5 Savills / B8 Real Estate Unit 12/3, Palatine Industrial Estate Kitchen 334 62.97 10 Morgan Williams Europa Boulevard Scheme Company Bowman Cheshire Unit 10, Albion Park, Glazebury Undisclosed Specialised 945 47.64 5 Morgan Williams 298 Winwick Road Private Individual 329 958.63 Freehold Morgan Williams Liquids Ltd Sandstone Ltd

James Hay Pension Rack & Shelf Unit 1, Cedar Court, Taylor Pickerings Unit 8, Adlington Court, Risley 929 401.50 Freehold Morgan Williams Ribston Ltd 298 107.64 10 Ribston Ltd Trustees Ltd Labels UK Ltd Business Park, Risley Europe

St George Rybrook Read Properties Unit 244, Gemini Business 110 Winwick Street Private Individual 920 23.68 3 Undisclosed Healthcare 297 83.42 10 B8 Real Estate Cars Ltd Associates Park, Europa Boulevard Group Ltd Unit 13b, Trident Business Park, Birchwood St Modwen FMS 895 34.98 3 BE Group Unit 241, Gemini Business Focke Meler Canmoor 293 83.42 5 Savills / B8 Real Estate 300 Winwick Road Undisclosed Linde 711 Undisclosed Undisclosed B8 Real Estate Park, Europa Boulevard Group

Unit 208a, Cavendish Place, Warrington Motor Parts BE Group / Roberts Allied London 637 78.04 15 B8 Real Estate / JLL Unit 4, Ravenhurst Court, Birchwood Orbit Developments 282 57.05 3 Birchwood Park, Birchwood Borough Council Direct Vain Wilshaw

Ribston UK BE Group / Roberts McQueen's Unit 1, Ravenhurst Court, Birchwood Orbit Developments Essens UK 280 57.05 5 Unit H1, Taylor Business Park, Risley Industrial Property 631 63.40 3 Ribston Ltd Vain Wilshaw Dairies Ltd Ltd Partnership Unit 11, Sankey Bridges Industrial Warrington Warrington Borough Undisclosed 260 42.30 Undisclosed Under Floor Estate, Great Sankey Borough Council Council Unit D3, Trident Business Park, Birchwood St Modwen 596 50.60 7 BE Group Heating Unit 1, Willow Court, Winwick Northern Trust Three Nations 248 80.19 3 Roberts Vain Wilshaw Edwards Unit 9b, Centre 21, Bridge Lane, Woolston Malcolm Judd Pearson 574 40.04 6 Morgan Williams Unit 27, Tatton Court, Woolston Private Individual MCE Group Plc 232 66.74 3 Roberts Vain Wilshaw Machinery Unit 4, Gatewarth Industrial Warrington Warrington Borough Undisclosed 222 49.51 Undisclosed Coal Pension Estate, Great Sankey Borough Council Council Warrington Secured Group, Calver Road, Winwick Properties Ltd c/o 530 64.05 10 Knight Frank Cash and Carry Warrington Warrington Borough LaSalle Investment Unit 7, Tanning Court Undisclosed 212 65.98 Undisclosed Borough Council Council Unit 251, Europa Trade Park, Pay Smart Undisclosed 511 80.73 5 B8 Real Estate HJ Wood Gemini Business Park Carpets Unit 3, Erwood Street David & Paul McKean 200 612.47 Freehold Morgan Williams Forklift Trucks

22 23 Annual Property Review 2020 warringtonandco.com

LEISURE FOUR separate applications have Warrington was greeted by the opening of Time been approved for a new rooms, social area, digital wellbeing including the construction of a pirate hotel and resort complex suite, community room and a small ship and fairy-tale castle venues, a Square in 2019, the new 13-screen Cineworld and at Gulliver’s World library. The Hub is being delivered by themed play centre and a cabin & lodge restaurant The Botanist opened their doors in the Warrington & Co through combined resort complex. Building on Wilderness With the majority of Great Sankey capital investment from Warrington Wharf will begin in 2020, with the facility flagship town centre development. The new civic Hub opening in 2018, the pools at Council, Sport England, the Better to provide family accommodation set headquarters building also nears completion as more the facility also opened in April last Care Fund and Torus. The facility within a bespoke landscaped area. The year. The main pool has now been will be operated by Livewire. extension will also include a village national high street and local independents are set resort with a café, craft centre, children’s refurbished, including new filtration and September saw Extra MSA Group indoor play centre and housekeeping to be added to the roster of food and retail outlets. insulation systems. The training pool submit outline proposals for a £75 facilities. It is expected to yield around has also been insulated and extended million “new concept” motorway £6 million benefit to the local economy. to a width of 7.6 metres. New LED service area at Junction 11 on the M62. The Botanist was the first restaurant Away from Time Square, Palmyra lighting has been installed in the pool The plans propose a mix of food and to be confirmed for Time Square, Square welcomed two new additions, hall and the new ‘changing village’ drink outlets, retail and leisure units with owners The New World Trading including the opening of The Terrace includes single, double and family and business facilities. The plans Company identifying Warrington as a Gin & Cigar Bar at the Treasury Building. cubicles, as well as two large group also propose a Local Employment key regional town in which to increase Itself an extension of San Lorenzo, The changing rooms, accessible facilities Agreement as part of the planning its footprint in the North West region. Terrace features a garden theme with and a space with a full hoist system. application, with the assumption that The Botanist, which also has city centre a large olive tree, marble top bar and Construction also began on the Bewsey the work would employ around 300 sites in locations including Manchester fire table, underneath a retractable roof. & Dallam Community Hub on Longshaw construction workers over the phased and , serves a deli-inspired As well an extensive drinks menu of Street. The £3.25 million facility forms build period and create 228 full-time £75m menu and live entertainment events. spirits, champagne and cocktails, The equivalent jobs when operational. part of Warrington Borough Council’s proposal submitted for “new As well the main restaurant, the site Terrace also provides a selection of wider regeneration plans for the area boasts an extensive outdoor area. cigars from Cuba and Central America. Four separate applications have concept” motorway service and is due to open in Summer 2020. been approved for a new hotel and area at Junction 11 on the M62 Cineworld also opened its new, Bold Street Bar opened on Egypt Street, The site will measure around 890 resort complex at Gulliver’s World. 13-screen cinema in December, marking after four months of refurbishment. The sqm over three-storeys and will be a The proposals encompass plans for Warrington’s first town centre cinema venue has been designed as a night dementia-friendly facility including a changes of use and physical since the closing of the Buttermarket spot, but also doubles as a coffee shop learner/hydro-therapy pool, changing development of the land, Street Odeon in 1994. The new by day, offering small artisan dishes. The facility includes the company’s first bar now offers wine tastings, cocktail large Superscreen, a 16.2 metre tall masterclasses and a supper club. laser projection screen featuring multidimensional sound powered by 32 Dolby Atmos speakers.

This opening came following the VISION LOCATION WHY WARRINGTON MASTERPLAN CONTACT summer refurbishment of the Odeon VISION LOCATION WHY WARRINGTON MASTERPLAN CONTACT in Westbrook. Now complete, the rebranded Odeon Luxe facility features 18 624 luxury, handmade reclining 18 seats across ten-screens, offering increased legroom and individual retractable tables. As well as the new fittings, the cinema now features a GET IN TOUCH 15 metre tall iSense screen, powered 624Lux GET IN TOUCH by Dolby Atmos 3D sound and 4K handmade reclining digital projectors. Guests who are hard seats across ten-screens, of hearing can take advantage of a DEVELOPER/FUNDER DELIVERY TEAM feature at the Rebranded DEVELOPER/FUNDER DELIVERY TEAM new Dolby Fidelio Audio Description Odeon Luxe facility system and an upgraded hearing- impaired system across all screens.

muse_devsALL ENQUIRIESmusedevelopments muse-developments ALL ENQUIRIES Image: The Botanist, Time Square Dan Davies Dan Davies 0161 806 0866 [email protected] 806 0866 Northern Assurance Buildings,[email protected] 9-21 Princess Street, Manchester,Northern M2 Assurance 4DN Buildings, 9-21 Princess Street, Manchester, M2 4DN 24 25

Misrepresentation Act Misrepresentation Act Metis for themselves and for the vendors or lessors of this property, whose agents are given notice that: A) all particulars are set out as general outline only for the guidance of intending purchasersMetis for or themselves lessees, and and do for not the comprise vendors part or lessors of an offerof this or property, contract. whose B) all agentsdescriptions, are given dimensions, notice that: references A) all particulars to condition are setand out as general outline only for necessary permissions for usethe and guidance occupation, of intending and other purchasers details are or given lessees, in good and dofaith not and comprise are believed part of to an be offer correct or butcontract. any intending B) all descriptions, purchasers dimensions,or tenants references to condition and should not rely on them as statementsnecessary orpermissions representations for use of and fact occupation, but must satisfy and other themselves details are by giveninspection in good or faithotherwise and are as tobelieved the correctness to be correct of each but anyof them. intending purchasers or tenants C) no person in the employmentshould of notMetis rely has on any them authority as statements to make or any representations representation of offact warranty but must whatsoever satisfy themselves in relation by to inspection this property. or otherwise May 2019. as to the correctness of each of them. Design by DS.Emotion C) no person in the employment of Metis has any authority to make any representation of warranty whatsoever in relation to this property. May 2019. Design by DS.Emotion Annual Property Review 2020 warringtonandco.com Proud to be working with Warrington & Co and VINCI CONSTRUCTION UK LIMITED North West, Ditton Road MUSE Developments on , Cheshire WA8 0PG For enquiries, please contact Warrington Time Square. Adrian Drinkwater on : 0151 422 3995 www.vinciconstruction.co.uk

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warrington ad.indd 1 27/03/2020 10:18:29 Annual Property Review 2020 warringtonandco.com

RETAIL

A report published by Cushman & Wakefield details that 20 percent of retail sales were accounted for online in 2019. Whilst technological advances are no doubt driving the boom for e-commerce, the landscape of physical retail is also changing, with Warrington leading the way as Time Square looks to incorporate retail, leisure and food and drink offerings, 2 providing an enhanced consumer experience.

‘Warrington is Happening’ was launched Following the closure of Toys R’ Us Almost by the Warrington BID in 2019, a on Gemini Retail Park, the unit formerly campaign aimed at highlighting and occupied by the toy retailer has been investing in the growing retail and leisure sold to car firm Arnold Clark. The offer Warrington has to offer. The aim of 2.42 ha site will complement the dealer’s Toy retailer Smyth’s became the 19th Mobility provider CareCo opened £300,000 occupier to take space at Junction only its second unit in the North, the campaign, which was launched on nearby existing premises to assist in the buses, digital screens and on the façade sale, service and MOT of vehicles. Since invested back into the town Nine Retail Park, signing a ten-year taking space at Gemini Trade Park, of retail units, is however not just to focus purchasing the unit, Arnold Clark has since Warrington BID was lease on 1,350 sqm unit with site as part of a nationwide expansion on retail, but to bring people together. submitted a planning application that established in 2018 owner Derwent. Following a which saw the opening of five new ‘Warrington is Happening’ launched over would see the existing unit converted £9 million refurbishment programme stores in 2019. The new store will aim the festive period, supporting BID levy for use as a vehicle showroom, with in 2017, the park currently totals to service the Cheshire region, along payers by promoting their businesses, offices and service and body repair around 17,465 sqm of retail space, with both Manchester and Liverpool. with a further 5,110 sqm under events, contributions to Warrington’s workshop, with a vehicle washing 3 Rix Motor Company has expanded development. Other occupiers cultural scene and food and drink facilities building being housed in an into an additional storage facility on the park include Currys offerings. Since the Warrington BID extension to the rear of the building. on Folly Lane, taking 4,805 sqm on PC World, Dreams, Dunelm, was established in 2018, it has invested a ten-year lease. The new site will Hobbycraft and Home Bargains. almost £300,000 back into the town. 1. Warrington Market, Time Square complement the existing facility Home and garden retailer Wilko on Hawley’s Lane and marks 2. Golden Square at Christmas relocated from Cockhedge Dallam 1’s fully occupied status 3. Smyths, Junction Nine Retail Park Shopping Park to the Golden with the car dealership group Square, committing to a 1,395 having joined DFS as tenants. sqm store which opened its doors in April. The move is expected to have created around 30 jobs, with Wilko cementing its immediate future in the town.

1,350 sqm unit was taken by Toy retailer Smyth’s, who became the 19th occupier to take space at Junction Nine Retail Park, signing a ten-year lease

1

28 29 Annual Property Review 2020 warringtonandco.com

Elsewhere a significant number of completions were reported Table 3 further breaks down completions in 2018/19 by in Bewsey & Whitecross, with 54 completions across three house type. 86 percent of all completions were houses, RESIDENTIAL sites on Boulting Avenue. Activity in Birchwood comprised of which the majority were tree-bedroom properties. a single site on Admirals Lane and the 66 completions Of the 78 flats constructed, all were either one-, or two- saw the site reach its final capacity. Table 2 illustrates a bedroom, with a significant number of two-bedroom comprehensive breakdown of completions by local area: flats constructed on Thelwall Lane in Latchford East. Housing completions in Warrington rose TABLE 2 TABLE 3 throughout 2018/19, with residential search WARRINGTON HOUSING COMPLETIONS (2018/19) HOUSING COMPLETIONS, BY TYPE (2018/19) portal Zoopla also detailing a 4.8 percent increase in the average house price achieved. No. of No. of No. of Local Area Schemes Completions House Type Completions Percentage

Table 1 details residential sales in The annual housing data, supplied 4.8% Grt. Sankey North & Whittle Hall 8 268 House 1-bed 4 0.8 Warrington throughout 2019. Data by Warrington Borough Council, this increase in the from Zoopla indicates that 2,133 sales year demonstrated that a total of 536 average house price Bewsey & Whitecross 14 82 House 2-bed 112 20.9 completed within the last 12 months, homes were completed in 2018/19, 112 achieving an average sale price of of which were affordable, demonstrating Birchwood 1 66 House 3-bed 188 35.1 £211,094. This demonstrates a 4.8 an uplift of 39 percent on the number percent increase on the average price of completions reported in 2017/18. reported on the site last year. 40 percent Completions across Warrington Latchford East 7 46 House 4-bed+ 154 28.7 of all sales during this period were for represented activity on 64 individual semi-detached properties, at an average sites, a decrease on last year, resulting Appleton 6 20 Flat 1-bed 41 7.6 sale price of £195,184. Detached from a rise in activity on larger sites properties accounted for 29 percent of over smaller and single unit sites. Fairfield & Howley 5 14 Flat 2-bed 37 6.9 sales, with an increased average price The local area with the most activity of £317,676, and terraced properties was Great Sankey North & Whittle Hall, 6 7 Flat 3-bed 0 0 accounted for 25 percent of total sales. where 268 completions were reported 2,133 across eight schemes, including activity sales completed within the , Glazebury & Croft 3 7 Flat 4-bed 0 0 on two phases at Lingley Mere and last 12 months, achieving an three phases at Omega Zone 6. average sale price of £211,094 Latchford West 2 6 Total 536 100

Grappenhall 3 5 Source: Warrington Borough Council (2020)

TABLE 1 Chapelford & Old Hall 1 4 WARRINGTON HOUSE SALES (LAST 12 MONTHS) Orford 2 4 House Type Sales Average Sale Price (£) & Winwick 2 2 Detached 610 317,676 Lymm South 2 2 Semi-Detached 858 195,184 Lymm North & Thelwall 1 2 Terraced 537 141,222 Westbrook 1 1 Flats 128 113,155 Total 64 536 Total 2,133 - Source: Warrington Borough Council (2020) Source: Zoopla (as of 14th January 2020)

30 31 Annual Property Review 2020 warringtonandco.com

The Government has introduced a the homes required, over a three-year on an annual basis. The Housing Housing completions are forecast to The large-scale Harpers Green new Housing Delivery Test (HDT) as rolling period, which commenced Trajectory for Warrington forecasts increase significantly in Warrington Retirement Living Scheme in Padgate the mechanism to monitor housing in 2015/16. The Government issues that the housing delivery test will be over the coming years, reflecting the £25m is being built by Anwyl Construction delivery locally. This measures net results on performance for each Local met in 2021, as show in Table 4. number of permissions that have been for Torus. The development is to cost additional dwellings delivered against Planning Authority (LPA) in England granted for residential development. scheme for redevelopment £11.3 million and comprises 97 one- and A large number of these homes will of the former home of two-bedroom apartments set across come forward in suburban areas of the Warrington Wolves four-storeys. The facility will also include TABLE 4 HOUSING FORECAST, WARRINGTON Borough, generally in higher value areas a central feature courtyard, as well as a where there is already infrastructure or Planning permission has been granted host of internal and external communal Year Annual Rolling 3-Year Delivery Annual Target Rolling 3-Year Target HDT (%) where additional infrastructure capacity for redevelopment of the former home facilities such as a bistro, hair salon and can be provided relatively easily. of Warrington Wolves at Wilderspool community bowling green. The project Stadium. The site, which saw the will provide an alternative housing 2015 595 - 923 - - The Council is currently preparing stadium built in 1881, will undergo a and lifestyle choice to the elderly a Housing Delivery Strategy that major transformation into a scheme population, bridging the gap between will address supply and other major 2016 492 - 902 - - comprising 160 properties and be independent living and the option housing challenges which include; renamed Bevan Mews in honour of for care should residents require it. viability, affordability, building the right 2017 359 - 792 - - the club’s former Australian winger. homes in the right places, quality of Homes England has appointed Barratt The stadium closed in 2003 and had housing delivered, under-occupation, Homes Manchester and David Wilson previously hosted seven international 2018 402 1,446 860 2,617 55 overcrowding and lack of diversification Homes North West to construct 370 tests and 24 international tour matches of delivery models. The key actions of houses on land at Appleton Cross. 111 before doors closed. The project is to 2019 591 1,253 839 2,580 49 the HDT Action Plan are set out below: of the houses, 30 percent of the site, be developed by Wire Regeneration, will be available on either a shared Embedding housing a joint venture between Langtree and » ownership or affordable rental deals and 2020 1,416 1,352 819 2,517 54 delivery and growth as a key Warrington Borough Council, tasked the site brings the total of the homes to priority of the Council with transforming the town’s Southern be built on land disposed of by Homes Gateway. The scheme is expected to 2021 - 2,409 - 2,457 98 Updating the Local Plan England in South Warrington in the last » cost around £25 million to complete. and associated planning year up to 700 dwellings. The Appleton Source: Warrington Borough Council (2020) policies and guidance Bellway has started construction on Cross development is in addition to » Monitoring and reviewing a 64-house scheme on Rushgreen the 350 homes being delivered at housing market information Road in Lymm. The project at Tanyard Heys and Pewterspear, Farm was approved earlier in the for which Barratt was selected in 2018 » Proactively pursuing housing year and includes a mix of three and as one of seven projects forming a delivery, promoting diversification four-bedroom homes, along with a national pilot for the Government’s of delivery models community park. The development Accelerated Construction model. Accessing funding to will be known as Sandstone Brook, » The Lane End Group has commenced assemble and de-risk sites with the first show home expected construction on a 144-apartment to open in Spring 2020. Alongside Ensuring an effective development scheme on Academy Way. The » the development itself, Bellway management process. town centre site, on the corner of will provide a £49,300 healthcare Buttermarket Street and Academy Street For each action, responsibilities contribution, a £178,000 secondary will comprise a five-, seven- and nine- and timescales have been clearly education contribution, a £15,000 storey apartment block strategically identified. This provides the basis for contribution to a playing pitch, and positioned on the edge of Time the Council to monitor the progress of a £5,000 traffic regulation order. actions to improve housing delivery. Square. The site was previously home Garven place, the 0.5 ha site off to a Kwik Save supermarket that was Sankey Street, is to be redeveloped subsequently converted into an indoor into a boutique hotel, spa, restaurant, skating rink. As a developer, Torus is housing and public car park. The town aiming to deliver at least 5,300 homes centre site lies near the Town Hall and in the next five years as a strategic includes a former clinic and car park, planning partner to Homes England. along with two listed buildings, the 465 sqm Bank House and 86 Sankey Street, comprising 420 sqm. Work New on the site would provide a high- quality development on a strategic 64 homes corner site adjacent to the Town Hall, scheme on Rushgreen bringing back into use two landmark Road in Lymm has started buildings within Warrington. construction by Bellway

32 33 Annual Property Review 2020

ACKNOWLEDGEMENTS

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Avison Young BE GROUP B8 Real Estate BE Group has been the proud author of the Warrington Annual Property Review for 22 years. Canning O’Neill BE Group is a property agency, regeneration and planning consultancy and has over 35 years’ experience of working in the Warrington commercial property market. CBRE This report has been carefully prepared, however it is for general guidance only and Warrington Borough Council, Warrington & Co. and BE Group cannot guarantee Cushman & Wakefield that there are no errors or omissions. The information forecast and opinions herein should not be relied upon Davies Harrison to replace professional advice on specific matters. No part of this report should be published, reproduced or referred to without the prior permission of BE Group. Jones Lang Lasalle BE Group, First Floor, 501 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, WA3 7GB Knight Frank Tel: 01925 822 112 Webpage: www.begroup.uk.com Lambert Smith Hampton Email: [email protected] Twitter: @BEGroup_UK Manchester Office Agents Forum

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