Hermes announced as 2nd major occupier for Omega North
Completion on 153,500sq ft. distribution warehouse marks second deal in under three months
Omega Warrington Ltd (OWL) has completed a deal with Hermes, the UK’s leading consumer delivery specialist, to build the company a new 153,500sq ft state of the art parcel handling distribution depot. The new premises will be on Omega North, the major distribution and logistics hub, part of the £1bn development at junction 8 of the M62 in Warrington.
The £17m funding deal with Hermes, the UK’s largest home delivery courier network, marks just over £35m of investment by clients of LaSalle Investment Management who also funded the Brakes unit also on Omega North. It will see Hermes take 15,000 sq. m (153,500 sq. ft.) of warehouse space, which includes 1,486 sq. m. (16,000 sq. ft.) of office space, on an 18 acres plot. Hermes will occupy the new facility on a 20 year lease with five-yearly structured reviews. GVA and Jones Lang LaSalle are joint letting/funding agents for Omega Warrington Ltd and Lambert Smith Hampton advised LaSalle Investment Management on the funding deal.
This comes less than three months after Brakes was announced as the first occupier for Omega North. This takes signed space to over 32,516 sq. m. (350,000 sq. ft.) so far. Practical completion for the Hermes premises is scheduled for the end of 2013, for operation in April 2014.
Andrew Sutherland, joint Managing Director of Miller Developments, a partner of Omega Warrington Ltd (OWL) comments:
“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.”
Gary Winter, Sales & Marketing Director at Hermes, said:
“This new hub will ensure we continue to provide the best possible service for our existing clients. The massive throughput capability will also give us room to continue to grow our business as we take advantage of the continuing surge in online shopping.”
Deborah McLaughlin, North West Executive Director at the Homes and Communities Agency, who are the landowner at Omega, said about the Hermes deal:
“This is a tremendous example of where the public and private sectors can work together to achieve growth and unlock significant investment. Omega North is without doubt a leading destination for business and it will create significant job opportunities for the people of Warrington and beyond. Whilst further occupier announcements are imminent, we continue to work with all partners to ensure the continued success of Omega and in particular the opening up of Omega South.”
OWL is a joint venture between Miller Developments and KUC Properties Ltd, in partnership with landowner the Homes and Communities Agency and supported by Warrington Borough Council.