Omega North delivers Hermes in £17m deal
DELIVERY firm Hermes has signed up for a 153,500 sq ft parcel handling depot at Omega North, near Warrington.
Its the second deal for the business park following December’s pre-let with food distributor Brakes for a 200,000 sq ft warehouse.
The scheme is a joint venture between Miller Developments and Royal Bank of Scotland-owned KUC Properties.
Hermes’ has agreed a 20-year lease for the warehouse which includes 18,000 sq ft of offices on an 18-acre plot. It should be finished by the end of the year and in operation in 2014. It is being financed with £17m from LaSalle Investment Management, which also funded the Brakes site.
Andrew Sutherland, joint managing director of Miller Developments, said: “We are extremely encouraged to be making a further occupier announcement for Omega so soon after our first success and for such a high profile national logistics company.
“With the first works on site including a significant investment in infrastructure, Omega is now extremely attractive to big name occupiers as it is ready to go for quick build and occupation. At a time of shortage of high quality logistics space in the North West, Omega is now the right product at the right time.”
Earlier in the month permission was granted for a 600,000 sq ft distribution base for ASDA at Omega South, on the other side of the M62. In total the site covers 575 acres, with around 80 at Omega North.
GVA and Jones Lang LaSalle are joint letting and funding agents for Omega Warrington and Lambert Smith Hampton advised LaSalle Investment Management on the funding deal.
