A prominent industrial building– which will be a familiar sight to many motorists in Devon – has been sold.
Harcombe Cross immediately adjoins the A38 Devon Expressway at Chudleigh, just south of Exeter Racecourse, and is seen by over 40,000 passing motorists every day. The building is situated directly behind the BP petrol filling station.
Tim Western, lead director of the Exeter office of property consultants, JLL, handled the sale for the vendor.
The freehold interest of the 12,316 sq ft business unit has been sold to Ashwoods Electric Motors. Ashwoods says it develops and manufactures electric motors that are smaller, lighter, more efficient, more powerful and lower cost than the motors currently being used in high volume electric vehicle applications.
In addition, Ashwoods’ sister company Lightfoot will also be moving into the property. Lightfoot is an innovative and award-winning technology that helps vehicles save fuel, reduce pollution and lower risk. Currently a big success in the fleet sector, Lightfoot will be launching a high profile consumer product later this year.
Mark Roberts, managing director of Ashwoods, said “Ashwoods Electric Motors and Lightfoot are two of the UK’s most exciting young technology companies and are both helping vehicles reduce their impact on the environment. We have been in Devon since the start and are delighted to be moving into a property large enough for our considerable growth plans.”
Ashwoods is currently based in Pinhoe in Exeter.
Tim Western of JLL added: ‘We are delighted that Ashwoods has chosen to relocate to this building, which is well-known to those passing along the A38 Devon Expressway. Ashwoods is a progressive and ambitious company and we hope that its move to larger premises will allow substantial growth and employment opportunities.’
The property was sold on behalf of a private individual. The asking figure was £995,000. The sale price is undisclosed.
Harcombe Cross is currently vacant.