Aviva investors has completed a £90m deal to forward fund the development of a distribution unit at Omega Business Park, in Warrington.
The 24-acre site, which has been pre-let to Iceland Foods on a 20-year lease, will provide more than 505,000 sq ft of gross internal floorspace and have capacity for 104 HGV docking bays.
James Stevens, head of real estate investment at Aviva Investors, said: “We are pleased to complete a deal which extends our programme of development across the UK, particularly on a high-specification asset in one of the country’s strongest logistics locations. The credentials and partnership with a high-quality developer and leading occupier serving an essential sector of the economy, give us confidence that it will deliver strong sustainable income returns over the long-term.”
Mason Owen acted on behalf of Aviva Investors.
