The Exeter office of Stratton Creber Commercial reports the sale of an industrial unit following a very brief marketing period with strong levels of interest.
Unit 3 Knowle Units is a terraced unit at Exeter’s Matford Park estate, which was built around 17 years ago and has been occupied by a car parts supplier. The unit comprises 2,472 square feet on ground floor plus a storage mezzanine and has 7 parking spaces. Multiple viewings took place on a single day, resulting in terms being agreed the same day off an asking price of £249,000. The unit was offered subject to surrender of the previous tenant’s lease and the sale completed on the same day as the surrender.
The purchaser instructed Stratton Creber Commercial to find a tenant, and the unit has now been placed under offer to an expanding local company, which will take occupation on completion of works.
Jonathan Ling, who marketed the unit and negotiated both deals, comments: “Demand for small industrial units in the Exeter area is particularly strong at the moment, both to purchase and to rent, and few such units have come to the market in the past year. With structural changes in our economy and lifestyles being accelerated by the pandemic – notably the rise in online retail sales – demand is expected to increase in 2021 while development of new units is unlikely to keep pace for the foreseeable future.”