The old saying goes: “to fail to prepare, is to prepare to fail”. This applies to inward investment today, more than ever.
Ralph Collison, Partner at Exeter’s Alder King Office, who specialises in commercial development comments: “the South West is well placed within the UK, attracting major investments including the Met Office, and other significant national and regional relocations”.
The availability of serviced land has been a prime ingredient in attracting this inward investment and following a significant amount of infrastructure improvements, large areas of commercial land on the outskirts of Exeter have been opened up for immediate development.
This now enables a very positive response to be put forward to any regional investment enquiries as well as local firms seeking to expand. In the past, Exeter has demonstrated the ability for the private and public sector to work together and obtain significant gains for the area.
The Local Enterprise Partnership has identified the need to invest in key locations, on the basis the success will radiate out to across the Region. With a significant increase in global air links from Exeter airport, and continuing improvements to rail travel, Exeter is becoming an increasingly attractive location for business”.
Reducing unemployment is a priority throughout the UK, and major commercial projects in the area have the ability to create a large amount of jobs in their construction and ultimate occupation.
There are major proposals stirring in Exeter City Centre, with the Development Principles Document for the Bus and Coach Station out for public consultation, and further major proposals for redevelopment adjacent to St David’s Station.
To the east of Exeter, the growth point has seen a great deal of activity with the commencement of the Clyst Honiton Bypass, and Combined Heat and Power Plant at Skypark, the development is set to deliver up to 1.4 million sq ft (130,064 sq m) of office and employment space. The completion of the 40,000 sq ft (3,716 sq m) Oxygen House, at Exeter Business Park, is a landmark headquarters building, which demonstrates confidence in the Exeter location.
The completion of 70,000 sq ft (6,503 sq m) Kandy Toys headquarters and distribution building, at Hill Barton Business Park, and commencement of a 500,000 sq ft (46,451 sq m) Sainsbury distribution centre at the Intermodal Rail site, are endorsements of Exeter’s strategic location.
A shortage of existing manufacturing and distribution space has been evident in the regional market for some time, and companies are increasingly looking at design and build opportunities, as the most efficient and cost effective long term option. The proposed Energy Act will bring some of these issues into sharp focus in the near future, with very high cost of compliance occurring to potentially both landlords and tenants.
To the west of the city, in Matford Green, is a 20 acre (8 hectare) extension, to the hugely successful Matford Business Park, offers a prominent level site, for a wide range of end users, from car showrooms to offices and manufacturing.
Considering these factors, it is clear that Exeter is well prepared to meet the demands of industry and inward investment.
