Parcel carrier Hermes has agreed to take a 153,500 sq ft depot at the Omega North logistics hub in Warrington.
The company has signed a deal for Omega Warrington to develop a new hub on an 18-acre plot at the £1bn development at junction 8 of the M62 in Warrington.
The £17m funding deal with Hermes marks just over £35m of investment by clients of LaSalle Investment Management at Omega North. It also helps to fund a deal for food supplier Brakes to take space at the park.
Hermes will occupy it on a 20-year lease with five-yearly structured reviews. RPI is capped and collared at 2% and 6% and the deal reflects a net initial yield of 6.5%.
Omega Warrington is a joint venture between Miller Developments and KUC Properties, in partnership with landowner the Homes and Communities Agency.
Construction of the Hermes shed is due to complete at the end of 2013.
GVA and Jones Lang LaSalle are joint letting and funding agents for Omega Warrington. Lambert Smith Hampton advised LIM.
joanna.bourke@estatesgazette.com
