Warrington Property Review Finds Birchwood Office Market is Thriving
According to a new regional property report, Warrington's business track record is continuing to shine.
The newly released 19th Annual Warrington Property Review, which analysed the Warrington office space and investment market in 2016, found that this enterprising Cheshire town enjoyed healthy development activity last year and is reaping economic growth as a result.
"Warrington's economy continues to boom," said Cllr Terry O'Neill of Warrington Borough Council. "As a city we consistently outperform the rest of the region and much of the UK in our economic performance, as is evidenced yet again in this review."
The report found that Warrington is building on its earlier growth and regeneration foundations, and is playing a key role in the Northern Powerhouse initiative. A significant amount of development is taking place within the town centre, including work on Time Square. However Warrington's prosperity is largely thanks to peripheral developments including the new Birchwood Enterprise Zone, which has confirmed its place within the new Cheshire Science Corridor.
Specifically, the town of Birchwood and its immensely popular business hub, Birchwood Park, are enjoying particularly high levels of interest from small business owners and corporates alike. UBC operates a thriving business centre overlooking Birchwood Park, and is continuing to receive healthy and growing demand from businesses of all sizes.
What's in store for Birchwood businesses?
The following highlights from the Warrington Property Review help to demonstrate the current market at Birchwood and what local businesses can expect in the near future:
- Part of Birchwood has been included within the Cheshire Science Corridor Enterprise Zone, which is "expected to lever in approximately £100 million in investment" and potentially up to 20,000 jobs.
- In 2016 Birchwood "dominated" the Warrington office market, having claimed the largest deal of the year (a 4,842 sqm letting at Allday House). Birchwood also recorded six of the ten largest Warrington office transactions of 2016.
- Although 2016 saw a greater number of larger premises being transacted, "smaller deals between 200 sqm and 400 sqm accounted for 42 percent of all those completed", suggesting a greater influx of mid-sized firms and growing SMEs.
It's also worth noting that, following the completion of Birchwood's pinch-point works, attention has now turned to the multi-million pound redevelopment at Junction 8 of the M62. Keep up with the latest road closures and developments here.
What do these results mean for businesses seeking office space in Birchwood and Warrington?
Whilst the Review paints a highly positive picture of Birchwood and Warrington in terms of regional workspace demand and investment, one particular finding caught our eye:
"Birchwood Park set the highest rent level achieved across the year."
This may be cork-popping news for property developers, but small business owners and project teams looking for cost-effective office space in Birchwood will feel differently. And that's why UBC does things a little differently, too.
UBC is not a commercial property developer. Instead, our business is providing flexible office space for growing organisations. In Warrington, we operate a business centre at Rutherford House in Birchwood, which provides dozens of private serviced office suites for businesses seeking cost-effective workspace with flexible, short-term arrangements.
Our clients, who range from small business owners and startups to corporate project teams, are able to rub shoulders with major companies in key business growth areas like Warrington, without paying the record-breaking rents we're seeing today.
Since officially opening our serviced offices at Rutherford House in April 2015, we've enabled scores of business owners and employees to benefit from a professional environment that's based within a vibrant business community.
If you want to take advantage of Warrington's "booming" economy and thriving property market, come and speak to us first!
Find out more about our flexible serviced offices overlooking Birchwood Park here or simply pop in to see us.