Warrington & Co. published their 19th Annual Warrington Property Review on 7th April 2017.
The document provides an in depth analysis of the Warrington property development and investment market for 2016 and once again shows significant progress, growth and investor confidence.
2016 marked the second highest level of investment transactions since 1999, which suggest a buoyant market not necessarily affected by current political factors. Over half of the £92.1 million traded in investment deals was generated through industrial transactions.
The office market showed an increase of 20 percent in total floor space transacted, as well as an improved average deal size of 661 sqm with significant lettings to Muller, Canon and Ofcom. Smaller lettings of between 200 sqm and 400 sqm accounted for 42 percent of all those completed.
Warrington’s industrial market remains strong buoyed by Omega as a site of consistent interest. 73 deals took place in 2016 making the year the third best on record. Omega saw the two largest industrial deals of the year to Domino Pizza and to as yet un-named occupier. Varied market with deals based across the town – from Woolston to Birchwood, Winwick Quay and Gemini.
The findings of the annual property review were revealed to a packed audience at the Village Hotel, Warrington.
Cllr Terry O’Neill, leader, Warrington Borough Council said, ‘Warrington’s economy continues to boom. As a city we consistently outperform the rest of the region and much of the UK in our economic performance as is evidenced yet again in this review. Warrington has very ambitious plans to uphold that economic position and trajectory through our growth framework, Warrington Means Business’
Steve Park, managing director of Warrington & Co., Warrington’s partnership for growth, said ‘Warrington has gradually become renowned across the UK for offering an excellent investment experience, a message that is being broadcast not just by the local Council or Warrington & Co. but importantly by the investors themselves, this is resonated by the statistics presented here today. These are exciting times in Warrington, despite the economic uncertainty the city is brisling with optimism’.
Warrington & Co. are grateful to the BE Group for their research and compilation of these statics which they have collated annually since 1998, and also to sponsors: Cheshire Science & Enterprise Zone, FDR Law, St. James Business Centre, Orbit Developments, Muse Developments, Peel, I & H Brown, Turner & Townsend and Leach Rhodes Walker Architects.