FURTHER evidence that Warrington is bucking the recession has been revealed in the office market sector which has seen lettings increase by almost a third during the past 12 months.
Warrington’s office market has seen a 29% rise in deals with occupiers as office lettings rose in 2013 by 395,163 sq ft.
The most notable two transactions of the year total 69,000sq ft., comprising the letting of The Point in Birchwood, (pictured top) where MDS took a lease on the 30,000 sq ft HQ building, and the 38,759 sq ft re-letting of Renaissance House on Centre Park, Warrington to the IPCC.
Simon Roddam, associate director and head of agency at Warrington property consultancy BE Group, and spokesman for Manchester Office Agents Forum (MOAF), said: “Warrington continues to react well to demand from larger occupiers seeking good quality HQ accommodation. With new buildings for Golden Gates Housing, Phonak and Your Housing nearing completion, and the recent letting in Birchwood to MDS, there are clear signs of an upsurge in the Warrington office market.”
Leasehold transactions accounted for 71% of take up in 2013, however a good level of owner occupier demand has been sustained with 14 transactions accounted in total, of which included the 20,000 sq ft sale of Millennium House in Birchwood to a government department.
Steve Park, (pictured right) managing director, Warrington & Co., Warrington’s partnership for growth added: “These figures are encouraging and are the latest in a series of very strong economic statistics, demonstrating that Warrington is a real place of choice for investors.”
Only last week a “Centre for Cities” report comparing the performance of 64 cities and major towns across the country showed Warrington in the top 10 for private sector jobs growth over the period 2010 to 2012.
Warrington also has the third highest employment rate in the country at 77.5 per cent over the period July 2012 to June 2013.
The town also has the sixth highest proportion of private sector employment and the 10th highest average earnings with an average wage of £507 a week.