Last Friday was a key date in the Warrington & Co. diary as it saw the publication and launch of the much anticipated 18th Annual Property Review.
The Property Review event itself was oversubscribed for the third year running; with over 200 property and regeneration professionals from across the region once again making what has become something of an annual pilgrimage to the Village Hotel in Warrington to hear a range of impressive results for the investment and property sectors. Delegates were also updated on the launch of the Cheshire Science Corridor Enterprise Zone that will benefit investors in the Birchwood area. As well as receiving eagerly anticipated updates on growth in Warrington, the event further cemented its regional position in the calendar as a ‘must attend’ networking opportunity amongst key players in the property and regeneration sectors.
The findings within the 2016 Property Report, that provides an overview of activity in the local commercial and residential property market during the previous year, reflected a definite confidence in the region from the construction, development and investment sectors.
2015 was a year of significant growth and regeneration for the town with a number of examples that demonstrate how Warrington’s reputation as a key UK location for business and investment continues to go from strength to strength. Key highlights of the report include:
• Birchwood being awarded “Enterprise Zone” status as part of the new Cheshire Science Corridor
• Completion of The Base – Warrington’s £8.5 million business incubator – completed by Warrington & Co.
• Start on site of construction of 1st Phase of £107 million Time Square regeneration project and Cineworld announced as anchor tenant for the scheme
• Sale of 37,160 sq. m. Winwick Quay Business Estate to LaSalle Investment Managers, which was the largest investment deal of 2015
• Warrington highlighted in an independent study by JLL as one of ten future potential growth centres for office space
• A 30,000 sq. m. speculative development commissioned by LondonMetric on Omega South and a further 1.2ha purchased by Hermes Parcelnet on Omega North
• The start on site of the £10million, University Technical College Warrington that is expected to complete in 2016.
• … And many more significant deals.
2015 also saw Warrington enjoy consistent recognition as both a driver for economic prosperity and as a successful location for its level of employment and of private sector job creation. In fact the current investment and development activity surrounding the mighty Omega development alone is expected to create around 4,500 new jobs.
The office and industrial sectors were also favourably represented within the report with Warrington’s office market enjoying significant growth in start-up businesses and property transactional deals reaching an all-time high in 2015.
The positivity that is reflected within the 2016 Annual Property Review is a real testament to the hard work and commitment that has been made by Warrington Borough Council, Warrington & Co., business leaders and development partners. The Warrington & Co. team are already looking forward to next year’s property review and another outstanding set of economic results.