Hayley Group, one of the UK’s leading suppliers of engineering components and consumables, has invested in prestigious new build premises for its expanding Exeter branch.
The firm has agreed terms with developer Eagle One on Unit J1, part of a 22,300 sq ft speculative development now under construction at Matford Green Business Park.
Hayley Group is acquiring 13,360 sq ft of space on a 15 year lease. The remaining 8,895 sq ft of space in Unit J2 is available as a pre-let.
Jeff Wheeler of the Hayley Group said: “We are very pleased to have procured such a prestigious new build unit for our Exeter branch. It will provide us with a secure long-term home in the city. We will look to employ an additional two or three people at the end of this year and the new building will allow us, when the time is right, to double the number of staff we employ here.
“Expanding our Exeter facility will also allow us to increase the range of engineering essentials that we stock on site and support the many engineering, maintenance and purchasing professionals who rely on us.”
Phil Moore of developers Eagle One commented: “We are delighted to have let J1 well ahead of practical completion. The quality of building and location have combined to attract significant interest in the development from a range of high profile businesses.”
Noel Stevens, partner at Alder King who acted jointly for Eagle One added: “The letting to Hayley Group at this early stage in construction represents a great start to the marketing of Plot J and shows both the continued desirability of Matford Green Business Park and occupier demand for high quality new build space.”
Tom Watkins, director at Colliers, who also acted jointly for Eagle One, said “The market in Exeter is incredibly undersupplied with immediately available stock, so credit to Eagle One for identifying this supply/demand imbalance and swiftly taking the decision to speculatively develop at Matford Green Business Park. This decision has certainly paid off with the pre-let to Hayley Group, and we’re confident with the level of interest in J2 that the rest of the building will be let very shortly.”
Hayley Group, which was established in the West Midlands in 1976, has since grown to more than 50 UK branches with over 1,000 employees and a turnover of over £200 million.