Paloma Capital and Graftongate’s Exeter Trade Park, a six-acre development within the Marsh Barton Trading Estate has reached practical completion and is fully let.
During the last three years, the site has been transformed with the inclusion of two new trade counter units, a 25,000 sq ft distribution facility, a 35,000 sq ft builders’ merchants and the refurbishment of an existing 20,000 sq ft warehouse.
The site, which had an initial master plan for a terrace of trade counter units at the front of the scheme, was quickly pre-let in its entirety by Selco Builders Warehouse.
Significant trade interest led to the development of two further trade counter units of 3,500 sq ft and 3,800 sq ft, which were quickly taken up by Headlam Group and GAP.
Alliance Automotive secured a letting on the new 25,000 sq ft distribution unit at the rear of the development, while the existing refurbished unit was occupied by Easy Bathrooms, with both deals exchanging in quick succession.
Charles Lunnon, Director in Asset Management & Investment at Paloma Capital said: “We’re delighted that Exeter Trade Park let so quickly, with many units going under offer before construction was completed. It’s great to be able to welcome five new tenants who provide local residents and traders access to a broad mix of retailers and suppliers.”
Alex Thomason, Director at Graftongate added: “It really helped to see the early demand for trade counter space, and by having an agile approach to this development, we’ve been able to adapt our plans to cater for the demands of local occupiers, ensuring we’re building a park which has longevity in the market.”
“From the outset, there’s been a lot of occupier interest in Exeter Trade Park, particularly from occupiers that did not have an existing facility within the city but had a strategic need for representation in this location,” added Tom Watkins from Colliers’ Industrial & Logistics team, “and the development and refurbishment of high specification units has been crucial in securing consistently new headline rents for Exeter throughout the lettings processes.
“The success of this park highlights the level of occupier demand which we have seen continuing in the region during the last few years, and Paloma Capital and Graftongate have been rewarded for their speculative development approach.”
Exeter Trade Park was jointly marketed by Colliers and Alder King.
