Mason Owen Acquire Prime Distribution Warehouse for Iceland and Aviva

Acting on behalf of Iceland Foods Mason Owen has secured the occupational lease for a new 505,000 sq. ft state of the art cross-docked distribution warehouse situated on the Omega Business Park at Junction 8 of the M62.

The new facility will be delivered by Miller Developments and is due to be completed in Q4 2023. It will be Iceland’s largest distribution centre in the UK serving the North of England, North Midlands and Wales.

In addition, Mason Owen acted for Aviva Investors in acquiring the property for circa £90m.

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.”

Omega Business Park is one of the largest distribution parks in north-west England, comprising 575 acres of land. Once fully developed, it will provide approximately 5m sq. ft of logistics units.