WARRINGTON is defying the gloom around the UK commercial property sector with take-up of office space up 20% in 2008, according to a new report.

The Warrington Annual Property Review, produced for the borough council by BE Group, revealed that the local office market recorded its second-highest number of deals of more than 2,000 sq ft since 1997.

By the end of 2008, total office space take-up had increased by 20% from the 2007 level, to reach more than 250,000 sq ft.

This coincided with a new high prime office rent achieved by MEPC Birchwood Park, where the high-profile Bridgewater Place attracted relocations from Rolls-Royce and UKAEA at just under £18.50 per sq ft.

The review cited the 50- hectare Birchwood Park as “the success story in 2008”.

Close to Junction 11 of the M62, the park contributed a third of the offices take-up across the whole of Warrington, through 14 transactions out of 47. This also included two out of the largest three deals done during the year.

But it was not only in the large lettings market where Birchwood Park excelled, as there were 22 office deals where occupiers took less than 2,000 sq ft.

One of the review’s authors, Peter Crompton, director of BE Group, believes Warrington is bucking the national trend.

He said: “The commercial property market – particularly the offices sector – is a great barometer of the local economy and of business health in general.

“The effects of any recession impact quickly on this marketplace and Warrington’s record last year shows that the area is surviving – and surviving well.”

Even the investment market fared reasonably well due to Warrington’s location, varied economy, quality property offer and past trading record. This is borne out in the report which records £70m of stock traded in 2008 – a similar level to the previous two years.

The largest deal of the year was the sale by AXA of Winwick Quay Business Park and although the final sale price remains confidential, the quoted asking figure was more than £23m.