RBS and Miller Developments' 575-acre regeneration project gets approval (UK)

RBS Real Estate Management and Miller Developments have won approval to develop the next stage of Omega Warrington, a 575 acre regeneration project in Cheshire.

Warrington Borough Council has granted outline planning consent for the redevelopment of 2.1 million square feet of logistics and manufacturing space called Zone 7.

The 150 acre site will provide build-to-suit development opportunities for units from 75,000 ft² (approx. 6,970 m²) up to a single unit of over 1 million ft² (approx. 92,900 m²). The outline approval for Zone 7 also includes detailed plans for a new access road to Junction 8 of the M62 and a 35 acre ‘Green Heart’ for wildlife preservation.

High quality

Omega Warrington has been designed as a high quality development for a variety of commercial and residential uses. The scheme is expected to create 24,000 new jobs in the North West of England, in addition to 1,100 homes, a school, retail outlets and restaurants, bars and a hotel. Further outline planning application for residential and mixed use developments are likely to be made later in 2014.

Helen Gordon, Global Head of RBS Real Estate Asset Management, said: “Securing outline planning consent for ‘Zone 7’ in Omega South is another significant step forward for this ambitious 25-year brownfield development.

“It demonstrates our expertise in, and commitment to, bringing forward large scale regeneration schemes that transform redundant sites into areas capable of housing businesses, both large and small, and stimulating employment.”

Added confidence

Andrew Sutherland, joint MD for Miller Developments, said: "We have been speaking to a number of potential occupiers over the last 12 months and the delivery of this consent, combined with the almost 1.75 million ft² (approx. 162,580 m²) of development that is already on site, will provide them with further confidence in our ability to meet their property requirements.”

Construction is well advanced on a 583,000 ft² unit for ASDA after planning was secured in November 2013. The brownfield development project has secured approximately £200 million (approx. €245,75 million) of private sector investment following the successful development of earlier parts of Omega Warrington.

Brakes, Hermes, Travis Perkins and ASDA have all committed to Omega with over 1.6 m ft² of logistics premises either open or under construction.

Omega Warrington is a joint venture between Miller Developments and KUC Properties Ltd (part of The Royal Bank of Scotland Real Estate Asset Management), in partnership with landowner the Homes and Communities Agency and supported by Warrington Borough Council and the Cheshire and Warrington LEP.

Source: RBS

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