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Stratton Creber Commercial

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A new office development near Exeter will soon be ready to welcome its first tenants.

The office building, prominently situated at the entrance to Woodbury Business Park, to the south-east of Exeter, has now taken shape and is due for completion by the end of the year. Two tenants have already signed up to take 75% of the building, and the remaining space comprises half of the ground floor.

The 1,405 square foot suite has outstanding views across the East Devon countryside and will be fitted out with all the attributes of a modern office including air conditioning, suspended ceilings with recessed lighting and three-compartment perimeter trunking. The suite has its own front door and is also accessed from a lobby off which are WC and kitchen facilities adjacent to the suite.

The joint marketing agents, Alder King and Stratton Creber Commercial, will be pleased to discuss the asking terms with interested parties, and viewings are possible now that the suites are nearing completion.

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One of Exeter’s best-known commercial property firms has recently moved to new offices in the City’s Southernhay office district.

As well as their new office, at 20 Southernhay West in Exeter, Stratton Creber Commercial has offices in Plymouth and Truro, and advises on a wide range of commercial property matters including sales and lettings, valuations, business rates appeals and property management.

Damian Cook, Director at Stratton Creber Commercial, states: “It’s a little bit like ‘back to the future’ as we moved from number 20 some seven years ago but with the continued growth of our business we have moved into two floors of office accommodation, and having undergone a major refurbishment we have created a modern working environment within one of the most attractive Georgian buildings in Southernhay”.

Stratton Creber Commercial recently won the Estates Gazette award for the most active agents in Devon and their expansion further demonstrates that the property market in Exeter and the surrounds continues to remain strong in both the residential and commercial sectors.

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Construction of GB House & Son’s new commercial development at Woodbury Business Park, near Exeter, is nearing completion.  The scheme, marketed by property consultants Alder King and Stratton Creber Commercial, will deliver over 20,000 sq ft of new build office and industrial premises, complementing the existing 21 business units already on the site.

Pre lets have already been agreed on the office building.  The last remaining ground floor office suite provides 1,600 sq ft (148 sq m) of modern and well-appointed accommodation with plenty of natural light and rural views across Woodbury countryside.

The industrial/distribution premises are available ranging from 800 sq ft (74.32 sq m) – 8,000 sq ft (744.87 sq m).  Constructed to a high standard these units will be suitable for a range of uses and are available on new leases.

Lee Southan from Alder King’s Exeter office comments:  “These new high quality buildings will be completed before the end of the year and have generated a high level of interest.  The location is well-established and picturesque and conveniently located a short distance from J30 of the M5.”

Existing occupiers at the business park include Ocean Physio & Rehab, Marlow & Co Accountants, Thumbprint Tuning, House-It Selfstore and Oakloft Furniture.

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Stratton Creber Commercial is pleased to announce that they have been awarded the Estates Gazette award for Most Active Agent in Devon 2014, this is the fifth year in a row they have won the prestigious accolade.

Researchers from the Estate Gazette collate all the property transactions in the retail, office and industrial sectors throughout Devon submitted by all the main commercial agents on an annual basis.

Stratton Creber Commercial provides a full range of services throughout the Westcountry with offices in Exeter, Plymouth and Truro who also claimed third place in the Cornwall property deals competition.

Damian Cook, Director in the Exeter office, says ‘winning the most active agents award despite strong competition is a result of a good team working hard and well together in what has been testing times over the past few years.

We are an independent firm with strong local roots offering a straightforward , personal and honest approach to meeting the needs of our clients , including investors, developers, occupiers and lenders.

We are proud to act for a diverse range of clients, both private and corporate, bringing sound and accurate property advice to every job, large or small.

There has been increased market confidence over the past 12 months and we have experienced more activity throughout the retail and business space departments which has been helped with the support of the banks lending.

Having the three offices in the South West places us in an excellent position to offer clients a wide range of experience in all sectors throughout the region.

Our valuation, professional and management departments continue to go from strength to strength with experienced and qualified surveyors joining the firm to ensure we offer the best service to all our clients.

Hopefully market conditions will continue to improve and our team at Stratton Creber Commercial will be working hard to retain their well-deserved status as Devon’s leading agent and win next years’ Estates Gazette award”.

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A former pub on the outskirts of Exeter has been let to a nursery operator by Stratton Creber Commercial.

The Hungry Fox was, until 2011, a destination pub near Broadclyst, on the east side of Exeter. It was purchased by the owners of Old Broadclyst Station, a cluster of offices adjacent to the pub, and consent was obtained for redevelopment and extension to form a 3,850 sq ft office.  Despite the uncertainties in the office market at the time, the purchasers pressed ahead with the development, which was to have completed in early 2014.

The marketing agents, Stratton Creber Commercial, considered non-office uses for the site and targeted local nursery operators, given the ample external space available and the site’s proximity to the new town of Cranbrook and to Skypark. Midway through the build programme, a nursery operator was identified and terms were agreed for a new lease off an asking rent of £50,000 per annum.  The deal involved the landlord halting and then amending the build programme to accommodate the needs of the nursery operator.

Planning has been obtained, the lease has completed and the business plans to open by the summer holidays after completion of fit-out works.

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Stratton Creber Commercial have just completed two more deals in the prime Southernhay office district in Exeter, at a time when availability is dropping to the lowest level for many years.

The ground floor of 33 Southernhay East is a suite of 470 square foot which has just been let to a new estate agency firm, Leworthy & Co, off an asking rent of £6,500 per annum. Other occupiers in the building include Cathedral Appointments and design agency Believe In.

The first floor of 6 Southernhay West is a 564 square foot office which has been let to Burwell Deakins, a London-based firm of architects.

The fact that both deals are to property-related firms is no coincidence, as Southernhay is rediscovering its role as the location of choice for firms involved in the higher end of the residential market.  Naomi J Ryan, Clear Property and property finance firm Charterbank have all relocated in Southernhay in recent months, and estate agents are once more showing strong interest in offices in the street, as shown by the fact that five estate agents viewed 33 Southernhay West when it first came to the market.

Along with another deal in respect of a first floor suite which is still under offer, these deals now mean that there is almost no availability in Southernhay on either ground or first floors, which tend to be the most popular floors. The last remaining first floor suite is at 34-35 Southernhay East.

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Acting on behalf of a medical consortium, Stratton Creber Commercial have acquired offices at Exeter’s Matford Park.

Last summer Stratton Creber Commercial were asked to identify prominent and modern freehold office premises for conversion to an innovative eye clinic. After a thorough appraisal of the options available, both on the market and off market, Glen House at Matford Park was identified as the best option. The firm worked closely with our client and their various advisors in respect of the proposed medical fit-out and other issues, negotiated terms for the purchase and obtained planning consent for our client for change of use from offices to medical. The purchase has now completed and the fit-out has commenced.

The semi-detached unit, totalling around 3,600 sq ft, offers the modern appearance, prominent and accessible location and parking provisions which the clinic requires. Jonathan Ling, of Stratton Creber Commercial’s Exeter office, who fronted the acquisition and the planning process, comments: “The unusual requirements and very specific fit-out involved in this acquisition posed challenges but I am delighted that everything fell into place. Quality freehold offices remain in critically short supply and anyone looking to buy offices would be well advised to bring a surveyor on board in the search and negotiation processes.  Where the deal is subject to planning consents, it is even more critical to seek advice.”

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Acting on behalf of the freeholder of the former Nightfreight depot on the Dawlish Business Park to the rear of the Shutterton Industrial Estate, the Exeter office of Stratton Creber Commercial has just sold the site and premises to one of the adjacent occupiers, C K Commercials Limited.

Andrew Hosking, Director in the Exeter office who handled the sale adds: “due to certain structural defects within the property, the asking price for the 15,600 sq ft warehouse on a 1.5 acre site was set to reflect the inherent value of the site rather than the building.  This ensured significant interest, mainly from parties already nearby, with 6 offers being received.”

The premises were sold off at an asking price of £275,000.

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The completion of a major office deal on Exeter’s Pynes Hill business park heralds a significant improvement in occupancy levels at Exeter’s premier office park, as well as welcoming a well-known name back to the city.

Acting on behalf of Cobham Defence, we have let Melrose House Redrow Homes, who have not been represented in the city since they closed their former offices at Exeter Business Park some years ago.

The 6,500 sq ft detached building, set on its own site with 33 parking spaces, occupies a prominent position on the way onto the estate. The property sat empty for much of 2012 while Cobham undertook internal reviews which culminated in the decision to close operations in the South West and consolidation of their businesses in Dorset and Hampshire.

We negotiated the surrender of the remaining three years of Cobham’s lease in conjunction with our structuring of a new lease to Redrow Homes. The housebuilder is now undertaking extensive fitting out and enhancement works at Melrose House ready for full occupation in June.

This is the second deal we have completed at Pynes Hill so far this year, following the letting of a suite at Tourism House to Mitchell Architects. The letting to Redrow is the largest deal done by Stratton Creber Commercial at Pynes Hill since our involvement in the letting of 10,000 sq ft to Micros on behalf of Eagle One in 2012. We currently have a further 8,200 sq ft of office space under offer on Pynes Hill, meaning that take-up on the estate so far in 2014 is already well ahead of the whole of 2013. With availability of modern offices also in decline at Exeter Business Park and Sowton, this year is shaping up as a good one for landlords, while tenants should take note that falling supply will lead to fewer options and a firming up in lease terms.

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Stratton Creber Commercial has let 194 High Street Exeter to Patisserie Valerie. Established in 1926 in Soho, they now have more than 65 cafes/shop Nationwide with the nearest in Bristol and Bath.

Exeter with its continuing success and vibrancy was targeted as the next priority town and the shop fit is well underway with the café is looking to open for business next month.

The accommodation is arranged on 5 floors and was formerly occupied by Nicklebys mens fashions and more recently as a first John Lewis pop up shop. The asking rent was £85,000 per annum.

Damian Cook of Stratton Creber Commercial who negotiated the letting, confirmed the deal has completed and comments ‘”Patisserie Valerie coming to Exeter is excellent news offering even more choice for shoppers and those visiting the City. Exeter is without doubt the city to visit, to enjoy a diverse shopping experience with representation from independent traders and popular multiple /national names and to sample one of the many the fine restaurants/cafes.”