Director of Miller Developments and Omega Warrington told the story of how the major development on the M62 recovered from the market crash and started delivering.
5. Omega
• Omega Warrington Ltd
• Omega - A Brief History
• Current Activity
• Occupier Interest
• Local Engagement
• Next Steps
6.
7. Omega Warrington Ltd
A joint venture between Miller Developments and
West Register Property in partnership with HCA
supported by Warrington Borough Council,
Warrington & Co & Warrington and Cheshire LEP
8. Omega
• Omega Warrington Ltd
• Omega - A Brief History
• Enabling Development
• Current Activity
• Occupier Interest
• Local Engagement
• Next Steps
9. Omega - A Brief History
• International competition 2000
• Appointed June 2002
• 33 years Development Agreement
• Masterplan evolution
• Pre application Stakeholder Consultation
• Public Exhibitions
• UDP Consultation
10. Omega - A Brief History
• International competition 2000
• Appointed June 2002
• 33 year Development Agreement
• Masterplan evolution
• Preapplication Stakeholder Consultation
• Public Exhibitions
• UDP Consultation
• Phases 1 and 2 planning submitted in October
2003
• Consent granted June 2007
13. Nationally, there was just over 27 million sq ft of new
floorspace available in 2008 compared to 7 million sq ft
today
-
5
10
15
20
25
30
End Dec
2006
End
June
2007
End Dec
2007
End
June
2008
End Dec
2008
End
June
2009
End Dec
2009
End
June
2010
End Dec
2010
End Dec
2011
End
June
2012
End Dec
2012
End
March
2013
Millionssqft
Source: Jones Lang LaSalle Figures refer to new units of 100,000 sq ft and over.
14. In the North West there was 4.5 million sq ft available in
2009 compared to under 500k sq ft today
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
End of
March 2007
End of
March 2008
End of
March 2009
End of
March 2010
End of
March 2011
End of
March 2012
End of
March 2013
Millionssqft
New floorspace
New floorspace
Source: Jones Lang LaSalle
Note: New available supply at end of March 2013 includes 332,000 sq ft of new floorspace under construction.
Supply figures for good quality secondhand floorspace only availble at End March 2012 and End March 2013
15. Enabling Development
Public Sector Private Sector
WBC
- Phased S106 payments
- Movement of S278
triggers
- Planning in 5 weeks
- LEP Funding
HCA
- Commercial variations to
Development Agreement
- Phased land payment
- Freehold option
- Continued equity
investment
- c.£2m utility orders
- Site strip
16. Omega
• Omega Warrington Ltd
• Omega - A Brief History
• Enabling Development
• Current Activity
• Occupier Interest
• Local Engagement
• Next Steps
17.
18. Current Activity – Brakes Pre Let &
Funding
• 200,000 sq ft cold/chilled/ ambient logistics centre
• Forward funded by LaSalle Investment Management
• Bowmer & Kirkland main contractor, D. Morgan
infrastructure
• Practical completion August 2013
• c.600 permanent jobs
• New Omega North access road under construction
• Utilities work on Omega South including new electricity
sub station
19.
20.
21.
22. Current Activity – Hermes Pre Let &
Funding
• 150,000 sqft cross docked automated parcel depot
• Forward funded by LaSalle Investment Management
• Practical completion October 2013
• Bowmer and Kirkland main contractor
• c.400 permanent jobs
23.
24.
25. Travis Perkins – Freehold Turnkey
• 630,000 sq ft cross docked RDC
• 70,000 sq ft mezzanine
• Planning permission granted 3 June 2013
• Out to tender 17 June
• Practical Completion due July 2014
• c 460 permanent jobs
29. Delivery Time
• Brakes March 2000 to Dec 2012: 2.75 years
• Hermes June 2011 to March 2013: 1.75 years
• Travis Perkins July 2011 to April 2013: 1.75 years
30. Omega
• Introduction
• Omega - A Brief History
• Enabling Development
• Current Activity
• Occupier Interest Omega North
• Occupier Interest Omega South
• Local Engagement
• Next Steps
31. Local Engagement
• Liaised with WBC Community Employment Learning &
Skills Team
• Signed Local Employment Agreement
• Omega Partnership Group
• Parish Council Presentations
• Residents Mailer
• Principal Contact: Jo Sistern – GL Hearn
32. Next Steps
• Marketing of remaining Omega North plots – 2.9 acres plus
3.25 acres
• Completing design of new Masterplan in line with Draft
Core Strategy
• Submission and receipt of new outline planning permission
for Omega South by year end
33. Conclusion
• 2013 defining year in development of Omega
• On site developing 1.85 m sq ft by year end
• Delivery c. 2,000 permanent jobs
• No room for complacency, another 500 acres to go