Leading commercial property developer, Stoford has let a new high specification industrial/warehouse unit in East Devon to adhesive manufacturer, Forgeway.
Forgeway has signed a 15-year lease on a 28,500 sq ft building at Exeter Logistics Park, a 55-acre site in Clyst Honiton owned by the Church Commissioners for England.
The building was developed speculatively by Stoford in partnership with Urban Logistics REIT and has been let within weeks of practical completion.
It is designed to an EPC A rating and BREEAM ‘very good’ and benefits from onsite trim trail and outdoor gym areas, including bodyweight exercise equipment.
Stoford is lead developer for Exeter Logistics Park and has a long-term site wide agreement with the Church Commissioners for England that will deliver c.500,000 sq ft of additional industrial/logistics accommodation at the scheme. New units will be made available on freehold or leasehold terms.
Rod Buckley, Managing Director of Forgeway, said: “We are very pleased with our new facility which provides additional high-quality internal and external space. It is an excellent, easily accessible location, with a well-designed road feed network which makes it a very positive experience for our logistics providers, many of whom are from the EU.
“The Stoford and Urban Logistics REIT teams have been very supportive throughout the final build stages and the extra fit-out works that we have completed. We are actively recruiting additional people to join our team and look forward to contributing further to the Exeter and East Devon area.”
Dan Gallagher, Joint Managing Director of Stoford said: “Forgeway is a global adhesive manufacturer with unrivalled technical expertise that enhances the impressive list of occupiers at Exeter Logistics Park. The speed of the letting supports our decision to speculatively develop the building and further demonstrates the scheme’s appeal to prospective occupiers. We are looking forward to working with the Church Commissioners for England to unlock further opportunities for development.”
John Barker, Head of Developments at Urban Logistics REIT, which funded the new building, said: “We were delighted to work with Stoford and the Church Commissioners in delivering the scheme and are very pleased with the quality of the warehouses Stoford have built. We look forward to working with Forgeway.”
Exeter Logistics Park is positioned just two miles from Jct 29 of the M5 and a mile from the A30, near Exeter Airport. Exeter city centre lies just six miles to the west of the site.
All enquiries regarding the scheme should be directed to JLL and Cushman & Wakefield.