Property Review showcases Warrington’s ambitions to ‘move forward’
This year’s Review demonstrates how Warrington continues to respond to the unprecedented challenges of Covid-19
Business leaders have been finding out how Warrington is looking forward with optimism to a swift, assured and ambitious recovery from the coronavirus pandemic.
The launch of the 23rd Warrington Annual Property Review, entitled ‘Moving Forward’, took place on Friday 23 April, providing an in-depth analysis of the Warrington property development and investment market.
Due to the ongoing Covid-19 restrictions, the Review launch was again held virtually, this year on the Microsoft Teams platform. It once again proved popular with businesses, with more than 160 signing up for the event.
The Review featured presentations of statistics and reports independently commissioned, compiled and collated by Warrington-based commercial property agents, The BE Group, who have authored the report for the past 23 years.
This year’s Review demonstrates how Warrington continues to respond to the unprecedented challenges of Covid-19, with the resilience of the town’s economy leaving it well placed to recover, grow and thrive.
The event format featured pre-recorded video presentations given to businesses by:
• Warrington Borough Council Chief Executive, Steven Broomhead MBE – who welcomed delegates
• Managing Director of The BE Group, Vince Sandwell – who provided the summary of the Annual Property Review
• Associate - Development & Strategic Advisory Team, Cushman & Wakefield, Heather Standidge who provided an overview of the market
• Warrington & Co’s Head of Development, John Laverick – who explained how Warrington is looking ahead to a successful future
Steven Broomhead MBE, said: “This year’s Annual Property Review was another big success, providing an invaluable, independent analysis of our economic performance.
“The coronavirus pandemic has brought significant challenges for us all, and has created huge pressures for many of our businesses and communities. However, what is clear is that Warrington remains resilient in the face of the most testing circumstances.
“While we don’t underestimate challenges ahead of us, our continued strong economic performance – which outstrips that of many other towns and cities – is very encouraging and gives us plenty of reason to be optimistic for the future.
“We welcomed the opportunity to once again showcase the ongoing success of our town as a place where businesses can thrive. This year’s Review demonstrates that Warrington is strongly positioned to be a leading destination in the nation’s economic recovery.”
Successes of the past year include:
• The 2021 Centre for Cities Annual Outlook confirming Warrington as one of the towns with “strong economies which have only been marginally affected by Covid-19.”
• The completion of nine major investment deals, amounting to a total disclosed investment spend of £30.46 million, across 58,716 sqm worth of property.
• Data by Zoopla indicating that a total of 1,331 residential sales were completed in Warrington throughout the year, achieving an average sale price of £217,903, a 3.2 percent increase on the previous year
• An ongoing appetite for large warehouse and distribution space in Warrington, with a strong performance in this area leading to the highest level of floorspace transacted since 2014.
• The securing of £22m in Government Town Deal funding, to deliver a range of transformative transport, infrastructure, skills, culture and wellbeing projects.
• The completion of the £19.9m Centre Park Link, a major highway project which will support Warrington’s ongoing economic growth and transform journeys around one of the borough’s busiest road networks
• The Council taking ownership of the flagship, £142m Time Square scheme, with the continued signing up of new, high profile tenants supporting the ambitions to make it a premier retail, leisure and entertainment destination.
The Warrington Annual Property Review is hosted each year by Warrington & Co – the town’s urban regeneration and inward investment partnership.
This year’s event was sponsored by:
• Baker Mallet
• Falconer Chester Hall Architects
• Miller Developments
• Orbit Developments
• Pin Properties
• Cheshire and Warrington Local Enterprise Partnership
• Muse Developments
• Turner & Townsend