Tags Posts tagged with "Stratton Creber Commercial"

Stratton Creber Commercial

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Continuing the run of new lettings at Exeter’s Pynes Hill Office Campus, a further deal has just completed at Providence Court.

A 975 sq ft ground floor suite has been let to the BBC for their relocation from their current premises in St David’s Hill. They are now carrying out an extensive fitting-out programme, which includes the installation of specialised recording studios, as well as electric charging points for their vehicles.

Jonathan Ling, of Stratton Creber Commercial, comments: “this deal was a complex one, as a result of the very specific nature of the property required and it’s fit-out. After a lengthy property search, Providence Court was identified and a further lengthy programme of appraisals and costings over several months was undertaken before the BBC made a legal commitment.”

The suite was taken off an asking rent of £11,500 per annum, which includes 4 parking spaces. Stratton Creber Commercial are now marketing a further suite of a similar size at Providence Court.

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The photograph shows the steel frame already up for Unit 5 on the Hitchcock’s Business Park at Willand, just off Junction 27 of the M5 motorway. Comprising a 20,180 sq ft detached warehouse building on a large self-contained concrete surfaced site, the unit is scheduled for completion later in the summer.

Andrew Hosking, Director of Stratton Creber Commercial’s office who are joint agents on the scheme confirms: “it is a real shot in the arm that our clients are speculatively building units on the Business Park in response to the high level of enquiries we have been receiving.

In addition, Units 6 & 7 totalling some 7,890 sq ft, are also nearing completion and we hope to announce further new occupiers soon who will joining the likes of Gregory Transport, Bale Group and Trucksmith on the Estate.”

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Stratton Creber Commercial has just completed the letting of a 3,100 sq ft office unit, known as Discovery House at Exeter’s Pynes Hill.

Acting on behalf of the ai Corporation, Stratton Creber Commercial negotiated terms for a new lease to Horizon Care, and also the terms for a surrender of ai’s existing lease in a complex deal which was further complicated by the fact that the incoming tenant plans to use part of the building for a children’s nursery, for which both planning consent and landlord’s consent were required.

This latest deal follows hot on the heels of the letting of the adjacent building last month to Mendip Media Group.

Jonathan Ling, who acted in the deal for ai Corporation, says, “Along with a further three office suites which Stratton Creber Commercial currently have under offer on the estate, this paints a picture of falling availability which reflects the trend seen across the city and across the UK as a whole.”

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Acting on behalf of Exeter Medical, the Exeter office of Stratton Creber Commercial has let a unit at one of Exeter’s most modern office developments.

Unit 6, Silverdown Office Park, at Exeter Airport Business Park, had been occupied and fitted out as a medical treatment centre since its construction. In a deal which saw it revert to the office use for which it was built, our client stripped out the medical fit-out while Stratton Creber Commercial sought planning consent for change of use back to offices.

The property has been let to Liberty Star Recruitment, who are expanding from business centre premises elsewhere in the city. The unit comprises 2,070 sq ft and has been let at a headline rent of £20,000 per annum.

Jonathan Ling, who fronted the deal and the planning application, says, “while it was a shame to see the quality medical fit-out largely removed, our client reacted to the market and accepted that current demand for offices is strong. This deal, as well as another which we are completing at present, means that there will soon be no available office units at Exeter Airport for the first time in several years.”

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Stratton Creber Commercial has sold 19 Heavitree Road to owner occupier Devon Coffee who are currently based in Queen St Exeter and have been looking to expand and secure additional premises in the City.

The prominent building which had been occupied by previous owners Posy Bowl florists comprises 883 sq ft ground floor and basement shop together with a self-contained 2 bedroom maisonette above. The property also benefits from 3 parking spaces to the rear. The upper parts have been vacant for around 35 years and are in need of substantial refurbishment throughout.

Such was the high level of interest in the freehold with development potential that Stratton Creber Commercial were instructed to offer the property by informal tender which lead to a competitive number of bids around the guide price of £190,000.

Zach Maiden from Stratton Creber Commercial reports ‘since the commencement of marketing we were inundated with enquiries from investors, developers and owner occupiers who were all interested in the premises for its development potential. With freehold properties of this nature so rare in Exeter we were not surprised by the level of interest generated and are delighted with the conclusion of the sale.’

Devon Coffee intends to refurbish the entire building and open up a second coffee shop where customers will be able to view the coffee brewing process of which they are renowned for throughout the region.

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Acting on behalf of the owners of Units 9 & 10 International House at Battle Road on the Heathfield Industrial Estate in Newton Abbot, joint agents Stratton Creber Commercial and Noon Roberts report significant early interest following recent completion of the refurbishment works after the expiry of the previous lease on the premises.

The buildings total some 16,774 sq ft and 28,643 sq ft respectively and Andrew Hosking of Stratton Creber Commercial confirms: “both ourselves and Tony Noon have undertaken a number of viewings since the works were completed in early May and applicant feedback has been very encouraging with the parties being particularly impressed with the high quality of the refurbishment which has been undertaken.”

Unit 9 has already been placed under offer and the competitive asking price for Unit 10, the quality of space on offer and the high level of car parking are all ensuring a good level of enquiries from industrial and warehouse occupiers wanting to capitalise on the excellent location of International House, being adjacent to the A38 Devon Expressway. Unit 10 is available to buy at £895,000 and further information can be obtained from the joint sole agents, Andrew Hosking at Stratton Creber Commercial.

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Stratton Creber Commercial, having been initially instructed by Devon Camera Centre to sell prime retail premises at 14 Waterbeer St with Vacant possession were then retained by the buyer to market and look for new tenants and have successfully secured the letting of both the ground and first floors within weeks of the new ownership.

The ground floor lock up shop comprising a sales area of 635 sq ft (61 sq m) has been let to Flavour Vapour UK which marks the first designated electronic cigarette company to take occupation in the prime retail centre of the city.

The first floor comprising 820 sq ft (76 sq m) has additionally been let to well-established Verve Hairdressing Salon who are relocating from their existing salon on Lower North Street after strong expansion in recent years. A change of use was sought for A1 (retail) consent from D1 (medical) as the premises was previously occupied by a Ben Pearson Dentists who relocated to new freehold premises in Queen St.

Zach Maiden from Stratton Creber Commercial commented ‘Flavour Vapour had been looking at a number of sites in Exeter and were excited by the prospect of the new redevelopment of the Guildhall on the doorstep of Waterbeer Street. Exeter will bring their number of units Nationwide to 21 and they are looking to expand further.

The retail market in Exeter is still showing strong demand from all types of occupiers and Stratton Creber Commercial expect the recent optimism to continue. If you would like to discuss your retail requirements please contact Zach Maiden in the Exeter office.

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A couple of years ago there seemed to be a “To Let” board on the majority of office buildings at Pynes Hill, but times are changing.

Recent take-up, combined with the deals which are currently going through, mean that there will shortly be almost no empty office space on Exeter’s main office park. Surveying firm Stratton Creber Commercial reports that it has five offices under offer at present with a combined area of 9,000 square feet, while only two further offices on the estate remain available via Stratton Creber Commercial.

This follows the recent letting of 2,107 square feet at Aspen House on behalf of Hunter Stoves, following their purchase of larger premises at Exeter Business Park. Terms for the assignment of their lease, at a passing rent of £25,500 per annum, were agreed in just six weeks from the property coming to the market.

The trend of declining office availability is mirrored elsewhere in the region and nationally, with the RICS Quarterly Market Survey showing that office availability across the UK is down by around 50% from a year ago, fuelled by rising levels of demand. The result has been a hardening of lease terms and rising rents, a trend which began in the South East but is now becoming apparent in the South West as tenants find that the available options are greatly reduced.

Jonathan Ling, of Stratton Creber Commercial, comments: “Many firms seeking to relocate in the Exeter area are very surprised at the small number of available options, whether they wish to rent or to buy. As a result, tenants can no longer expect the favourable terms, such as flexible lease terms and extensive financial inducements, which were being offered some years ago. I advise anyone who is planning to relocate their business to think ahead and start their office search well in advance of their proposed relocation date.”

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Four office units in a business centre in Mid Devon have been let in quick succession by Stratton Creber Commercial.

Swallow Court is an established and successful cluster of barn conversions adjacent to Junction 27 of the M5 (Devonshire Gate), and units rarely come to the market. When one of the tenants at Swallow Court decided to release some of their space there, they appointed Stratton Creber Commercial to market the surplus units on their behalf. Three deals in quick succession have already released them from a total of four units, greatly reducing their outstanding liabilities.

Fostering Foundation, Addaction and Bedford Surveyors all took occupation during April, taking between them around 2,774 square feet. They join existing tenants including Protection Vessels International, Xeiad and RMA Environmental. Stratton Creber Commercial are now marketing three further units, offering from 837 square feet. All three units are in character barn conversions and offer a pleasant working environment as well as the convenience of being next to a motorway junction with good parking and easy walking distance from Tiverton Parkway station.

All units were let by way of new leases off asking rents of £12.50 per square foot (inclusive of parking).

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Stratton Creber Commercial’s Exeter office is pleased to announce the letting of 9 Gandy Street to Sobeys vintage clothing.

The property, formerly occupied by Clayhanger and more recently Coco Boutique, is within the heart of the town centre in Gandy Street which is an established retail location for both independent and multiple retailers including Bang & Olufsen, JoJo Maman Bebe, Seasalt, Moko, Howies and Bill’s restaurant.

Sobeys are also situated on Park Street in Bristol and have been looking for representation in Exeter for some time.

Sobeys specialise in the sale of vintage and re-worked clothing and their Managing Director, Andrew Evans advised their aim is to bring a fantastic quality vintage product at friendly prices priding themselves in keeping up with the latest fashion trends as well as continuously developing their in-house brand, Nancy’s Boutique.

Sobeys doors of their Exeter unit will open in April.

Damian Cook of the letting agents, Stratton Creber Commercial advised there was strong demand for the premises with several occupiers trying to secure the premises, which is a clear indication of the improved market conditions in Exeter and the retail market in general.