The strong interest generated in a mixed office and industrial unit on the edge of Exeter has demonstrated unfulfilled demand for the sector.
The Topsham Units were built around 10 years ago at Dart Business Park, opposite Darts Farm outside Topsham on the southern side of Exeter. The industrial units have a distinctive design including wooden cladding and an aeroplane-wing roof, and several have since been upgraded with mezzanine offices. Unit 4 was offered with a ground floor of 1,500 square feet plus a high-quality office fit-out on the 890 square foot mezzanine.
Demand was such that five viewings were arranged on the first day of marketing, and all five resulted in offers. The property has now been let to an internet sales company at the asking rent of £16,000 per annum.
Jonathan Ling at Stratton Creber Commercial, who marketed the unit, comments: “Developers rarely, if ever, build units which combine warehouse space with quality offices, so such units are normally only marketed once an occupier has fitted offices to their own specification. The outgoing tenants, who were property developers, had installed quality offices with a contemporary feel, and the strong interest which the unit quickly generated reflected a pent-up demand for this combination of warehouse and office space. This combination is becoming much sought-after as online retailing expands. Developers take note!”
The Topsham Units house a number of businesses including an online lighting retailer, a chandler and a homewares company, and elsewhere on the estate occupiers include Sapphire Interiors and Amos Lighting.