Place North West | Omega Warrington put up for sale

Industrial developer Mountpark is selling the first phase of its Warrington logistics park, totalling more than 750,000 sq ft, as part of a £480m European property portfolio sale.

Mountpark Warrington Omega I comprises 757,556 sq ft across four units at the industrial park close to Junction 8 of the M62, north of Warrington.

The scheme completed in March 2019, with 350,000 sq ft let to Royal Mail for a parcel hub, and 140,000 sq ft let to The Delivery Group for a specialist mail hub.

Mountpark is marketing the property as part of a package of four prime logistics parks across the UK, France and Ireland, comprising a total of 11 warehouses across 4m sq ft. The price tag is for the portfolio and the sales value of Omega Warrington I alone has not been released.

Consultancy CBRE has been appointed by Mountpark as sales agent for the portfolio. CBRE and JLL are the joint lettings agents for Mountpark Warrington Omega I.

The other properties in the portfolio sale are Mountpark Baldonnell, a 322,000 sq ft logistics development in Dublin; Mountpark Bardon, a 72-acre park off Junction 22 of the M1 in the Midlands, and Mountpark Orléans, a new logistics development in Meung Sur Loire at Synergie Park off the A10 in France.

John Cutts, director of Mountpark, said in a statement: “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.”

Mountpark Logistics announced funding in March to progress the next phase of Omega development – 735,000 sq ft of speculative warehouse development at Omega South in Warrington.

The scheme has started on site and is the second phase of Mountpark Warrington Omega at a gateway site to Omega South. Once complete, it will comprise three logistics buildings of 307,807 sq ft, 203,000 sq ft and 225,000 sq ft.

In August, Mountpark let the largest warehouse to online recipe box company Gousto.