It’s been another very busy month with lots of development activity, the most visible of which has to be the start of the demolition works on the Bridge Street Quarter project. The bulldozers are in and very soon all of the old Time Square buildings will be down. Construction will start later this year.
Just up the road at Stadium Quarter the external works for the Business Incubator are nearing completion and the internal fit out will soon begin in readiness for a September opening. The next few weeks will see a start on site on the construction of UTC Warrington which will be situated next door.
Across town at Omega the external cladding is now visible on the huge 685,000sq ft HQ for The Hut Group and most of the cladding is now on the 240,000sq ft unit for Plastic Omnium. The extension of Skyline Drive which will connect Junction 8 of the M62 across to Omega Boulevard by the Royal Mail Depot is set to complete in August.
Warrington is a town in demand by business that’s for sure. A recent report by JLL singled Warrington out as having the highest economic growth in the North and the fifth highest overall in the UK. They predicted that Warrington will have second highest employment growth in the UK in the office sector over the next five years, largely buoyed by the strength and growth of the town’s nuclear cluster.
The JLL report was reflective of the findings contained in Warrington’s Annual Property Review which reported that 2014 was a record year for investor take-up, its second best year for deals and third best year for offices.
It was interesting then to see that further new research by Colliers International has indicated that the supply of available large scale Grade A industrial and logistics space of more than 100,000 sq ft in the North West of England will run out in early 2016, with the region having just nine months’ worth of supply left.
The area zoned for industrial and logistics space at Omega is rapidly running out but I’m sure that the Colliers findings will encourage take up of the last remaining plots. Similarly the JLL report will,hopefully, spur and encourage a start on the office element at Omega and also within other locations across the area.