Developer selling second phase of its Warrington Omega site.
- What Mountpark has sold the second and final phase of Warrington Omega
- Why 740,000 sq ft development constructed and fully leased
- What next Mirastar and KKR adding to their joint venture platform
Logistics developer Mountpark has agreed terms to sell the second phase of its Warrington Omega development for just north of £100m, React News can reveal.
Mirastar and partner KKR have negotiated an off-market acquisition of around 740,000 sq ft of prime logistics space at the site, which is fully leased.
Construction of the second phase began in early 2020, with the first two units of 308,000 sq ft and 203,000 sq ft delivered early the following year by Mountpark. The third unit, spanning 225,000 sq ft, followed shortly after.
Amazon leases around 425,000 sq ft across two units at Mountpark Omega, while meal delivery business Gousto operates from the other unit.
The scheme is at Omega, widely seen as the North West’s premier distribution location, adjacent to junction eight of the M62.
The first phase of the project formed part of a broader €530m portfolio sale by Affinius Capital-backed Mountpark, in late 2020. JP Morgan bought the ultra-prime portfolio. Since then, developer Mountpark has sold off much of its remaining stock from the last development cycle. An Amazon-let unit at Wakefield Hub was sold to Arrow Capital Partners for close to £230m, and last week Pontegadea bought the second phase of Baldonnell Business Park near Dublin for €225m.
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This article first appeared on Green Street News on 18th December 2023 and was written by Chris Borland and David Hatcher.
