Knight Webb has confirmed the announcement of multiple projects for leading retail-led industrial property investor London Metric.
In the first project to be announced Knight Webb has confirmed the appointment as project manager/fund monitor for London Metric on the development of a new 356,000 sq ft £30 million speculative development
The new speculative facility will be built on an 18.9-acre plot within Zone Seven at Omega South, which was given outline planning in 2014 for 2.1 million sq ft of logistics and distribution space. Construction of the warehouse commenced in April 2016, with completion in December 2016.
The project follows the successful handover and completion of a new 690,000 sq ft retail distribution centre in Warrington pre-let to the Hut Group and at the Omega South Development in Warrington and forward funded by London Metric.
Construction commenced in January 2015 and the building was handed over in the autumn. The 41-acre site is located on the Omega South distribution park at junction 8 of the M62. The unit is being constructed in order to consolidate The Hut’s four existing UK distribution units.
Knight Webb provided project management services to London Metric and worked in conjunction with site owners and developers Miller Developments. They also acted provided due-diligence services during the pre-acquisition process.
Omega Warrington Ltd is a joint venture between Miller Developments and KUC Properties, in partnership with landowner the Homes and Communities Agency, and supported by Warrington Borough Council and the Cheshire and Warrington Local Enterprise Partnership. Letting agents for the site are Bilfinger GVA and JLL.
In a further development Knight Webb has also announced a further instruction with London Metric to project manage the delivery of a new 523,800 sq ft retail distribution hub currently under construction and pre-let to Poundworld in Wakefield, Normanton
The site, which is located near junction 31 of the M62, is due to be completed in autumn next year.
Mark Ward, property director at Poundworld Retail, added: “We have a rapid store expansion programme over the next three years and the new distribution centre will aid our expansion plans, improve efficiency and allow for a broadening of our product range in our single and multi-price format stores.”
Speaking about the projects for London Metric, Knight Webb Director Richard Webb said: “We are pleased to be continuing our successful relationship with London Metric and to be trusted to deliver these three important developments. As demand strengths for well-located distribution space to service the fast-expanding retail logistics market Knight Webb is well placed to assist developers and investors by providing best-in-class project management services and support”