Cllr Terry O’Neill
WARRINGTON’S property market continues to excel, once again showing significant progress, growth and investor confidence.
This was revealed today in the 19th annual Warrington Property Review published by urban regeneration partnership Warrington & Co.
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.
Last year marked the second highest level of investment transactions since 1999, which suggests a buoyant market not necessarily affected by current political factors.
More than half the £92.1 million traded in investment deals was generated through industrial transactions.
The office market showed an increase of 20 per cent 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 per cent of all those completed.
Warrington’s industrial market remains strong, buoyed by Omega as a site of consistent interest.
A total of 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 an as yet un-named occupier.
It was a 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 today 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., 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 bristling with optimism”.
