First phase of Omega Warrington up for sale as part of £482m package

The first phase of Warrington’s Omega development has been put up for sale by developer Mountpark as part of a four-part package valued at £482m.

Mountpark has released four sites including Omega, the largest inventory industrial/logistics development in the UK totalling 757,556 sq ft across four units, Mountpark Baldonnell in South West Dublin, Mountpark Bardon in the Midlands close to the M1 motorway, and Mountpark Orléans in France.

The sale is aimed at exploiting the current rise in demand for warehousing, driven by a surge in online shopping.

Proceeds will be invested into the developer’s current pipeline.

In March this year Mountpark announced a speculative development of 735,000 sq ft at Omega South, Warrington – the second phase of the massive scheme alongside the M62 motorway. The first two units are due to complete in January 2021.

And last month Mountpark announced it had leased a 307,807 sq ft distribution centre at Mountpark Warrington Omega II, to recipe box company, Gousto.

The transaction is the first letting at Mountpark Warrington Omega II and was signed before practical completion.

The four-part sale by Mountpark includes 11 warehouses totalling around four million sqare feet.

John Cutts

Mountpark director, John Cutts, said: “These are high quality buildings in superb locations and we expect the portfolio to attract a great deal of interest.

“E-commerce and supply chain reconfiguration are driving unprecedented demand in the logistics property sector.

“We look forward to concluding a transaction while we move ahead with the expansion of our development programme across Europe.”