Next will occupy 95,000 sq ft at Winwick Quay in a deal believed to be one of the largest in the north west so far this year.
The retailer has signed up for PPG Land's refurbished Calver 9 warehouse. The property is understood to have been let at £3.80 a sq ft on a 15-year lease.
The deal is encouraging property experts who fear the north west's vast supply of warehouse space could prove difficult to shift. According to research by Colliers CRE, empty new warehouses amount to six million sq ft and total availability in the north west is 25.7m sq ft in units over 50,000 sq ft.
Lambert Smith Hampton estimates that total warehouse deals in the region this year will involve around seven million sq ft - leaving massive over-supply.
However, experts say that the price will have appealed to Next because it is about one-third lower than the chain might have paid on a newer unit, and considerably cheaper than many rival options.
Warrington's commercial property market has remained strong, despite the recession. This year, the Warrington Annual Property Review, produced for Warrington council by BE Group, revealed the total amount of office space let or sold in 2008 was a fifth higher than in the boom year of 2007.
Although the warehouse scene is not so busy, agents say that it remains among the most successful in the UK.
The deal at Winwick follows a move by Royal Mail, which has taken 179,000sq ft at South 62 in Winwick Quay. The rent paid for the sorting office is believed to be around £3.75 a sq ft. Royal Mail was advised by Manchester surveyors WHR.
PPG Land was advised by Davis Harrison and King Sturge, while Next was represented by Cushman & Wakefield.
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