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Omega Warrington Limited
Omega Warrington Limited (OWL), a Miller Developments joint venture partnership, has signed an agreement with LondonMetric Property Plc (LondonMetric) to forward-fund a new 690,000 sq ft retail logistics and manufacturing centre for The Hut Group (The Hut) at Omega, at junction 8 of the M62 in Warrington.
The £47.5 million deal follows the securing, by OWL, of Reserved Matters planning consent (converting outline consent to detailed) for The Hut Group, a specialist on-line retailer and brand owner, selling high repeat purchase goods direct to consumers across the Health and Beauty sectors. With the funding now in place, The Hut Group has formally signed to become Omega South's second occupier along with ASDA, providing hundreds more jobs on site. Construction of the development will begin this month with completion expected in autumn 2015.
The Hut Group's new premises on the 41 acre plot will support a mixture of functions including logistics, manufacturing and offices plus a further 150,000 sq ft of additional expansion land. The new facility will bring over 2,000 jobs to Omega South. GVA and JLL are the letting agents for logistics and manufacturing opportunities in Zone 7.
Andrew Sutherland, joint MD for Miller Developments, said: "This transaction really puts Warrington on the map and demonstrates the willingness of investors to participate in the North West's growing logistics and manufacturing sector. We welcome The Hut to our ever-growing family of successful businesses on site and continue to work hard with our partners to maintain the momentum generated for the maximum benefit of local people."
The new premises are being built to consolidate The Hut's four existing UK distribution units. The facility will be used to satisfy both its domestic and rapidly growing international operations.
Deborah McLaughlin, the HCA's Executive Director for the North West, said: "Securing The Hut Group at Omega is fantastic news for Warrington and the wider region. We have been transforming Omega into a major high quality employment park over the last few years, and this latest success brings yet another significant employer into the area."
The Hut's site, which now has detailed planning consent, is located within 'Zone 7' of Omega South, which was granted 'outline' planning consent in May 2014 for 2.1 milion sq ft of logistics and manufacturing space, a new access road and a 35 acre 'Green Heart' habitat creation area.
Cllr Terry O'Neill, leader of Warrington Borough Council said: "We are proud to welcome The Hut Group to Warrington and to Omega and are looking forward to working with them. In only eighteen months Omega has been transformed from an undeveloped former airbase into the North West's premier business location of choice. It is superb that yet another high calibre business is joining the Omega family."
The Hut Group will join other thriving businesses at this major employment site including ASDA on Omega South and Brakes, Hermes and Travis Perkins on Omega North.
For further information on Omega:
Jo Sistern, GL Hearn, communications advisors
0844 225 0003
For further information on LondonMetric Property Plc:
Andrew Jones / Martin McGann
Tel: +44 (0) 20 7484 9000
Dido Laurimore/Clare Glynn
Tel: +44 (0) 20 3727 1000
Notes to Editors:
The Homes and Communities Agency (HCA)
The Homes and Communities Agency is the single, national housing and regeneration delivery agency for England, and is the Regulator of Social Housing Providers. Our vision is to:
For more information visit: http://www.homesandcommunities.co.uk/newsevent or follow the HCA on Twitter @HCA_UK
LondonMetric Property Plc
LondonMetric (ticker: LMP) aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in Retail and predominantly retailer led Distribution properties. It employs an occupier-led approach to property investments through opportunistic acquisitions, joint ventures, active asset management and short cycle developments. The asset focus is on properties with enduring occupier appeal providing opportunities to improve both rental values and the security and longevity of income; and limited risk redevelopments with the aim of enhancing shareholder returns.
Further information on LondonMetric is available at www.londonmetric.com
The Hut Group
About The Hut Group
The Hut Group is a specialist on-line retailer and brand owner, selling high repeat purchase goods direct to consumers across the Health and Beauty sectors specifically sports nutrition and vitamins; cycling and endurance; prestige hair and skin care; weight management; prestige clothing, footwear and accessories. In June 2011, the Group launched a new division (Technology Services), focused on the provision of business to business software and ecommerce platform services with media and brand partners.
The Hut Group launched its first website in 2004 and focuses on product categories which share specific defining product characteristics: non-perishable, high repeat purchase, one-man delivery and low levels of customer returned products. The Group now operates individually branded websites including:
The Group's proprietary technology platform is central to the business model, facilitating highly effective data-driven retailing through optimised website content and bespoke marketing content, generating high levels of consumer loyalty, choice, repeat purchase and satisfaction.
For further information, please visit www.thehutgroup.com
Director of Industrial and Logistics
GL Hearn Head Office
020 7851 4900