Phase one of a new speculative industrial/warehouse, distribution and trade counter development in Exeter is fully let before reaching practical completion.
Paloma Capital and its joint venture partner, Graftongate have agreed a trio of lettings totaling more than 82,000 sq ft at Exeter Trade Park on Marsh Barton Trading Estate.
The largest of the lettings has seen builders merchant Selco agree a 15-year lease on Unit 2, which comprises 36,500 sq ft of industrial/warehouse accommodation with canopy, fronting Marsh Barton Road.
Vehicle part distribution and wholesaler, FPS Distribution has signed a 15-year lease on Unit 3, a 26,000 sq ft distribution warehouse with first floor office space located at the rear of the site.
Unit 1A will be occupied by expanding bathroom retailer, Cubico Ltd and its operating arm Easy Bathrooms. It has agreed a 10-year lease on the 20,000 sq ft distribution unit.
Charles Lunnon, Director at Paloma Capital, said: “Phase one of this scheme has proven extremely popular, attracting a broad range of national trade occupiers to compete for the space, resulting in a fully pre-let development at rents in excess of £12.50/sq ft on the best units. We look forward to progressing the construction of a further two 4,000 sq ft trade units in phase two and completing the development of Exeter Trade Park.”
Exeter Trade Park is situated south of Exeter City centre and is accessed via the A377 and north west of the intersection between the A30, A38 and M5 motorway. It benefits from an extensive and prominent frontage to Marsh Barton Road and the northern end of Trusham Road.
Alder King and Colliers International acted on behalf of Paloma Capital and Graftongate.