Local sales agents, JLL and Alder King, acting for site developer, St. Modwen, have established a new rental level for Exeter of £20 per square foot on the available office space at Skypark’s Number One Tiger Moth Road as local market demand grows.
Spanning three floors of BREEAM excellent office space, Number One Tiger Moth Road, is already home to local service management software firm, Oneserve. Enquiries about commercial sub-let of the remaining two floors of this 17,142 sq ft scheme have been growing steadily over the last few months.
Andrew Pearce, director in JLL’s Exeter office and sales agent for St. Modwen’s flagship Skypark development says:
“Exeter’s office market take-up, both city centre and out of town, has grown substantially in recent years with a 27% increase year on year recorded in 2017. However, pace of development to meet this demand has created a significant shortage in quality office stock. Current availability is running at just 242,851 sq ft which equates to 5.9% of stock. Number One Tiger Moth Road is the first privately-funded speculative office build out of Exeter city centre in many years and has recently set unprecedented new rental levels as demand for quality office space grows.”
Built alongside the new regional headquarters for housing group, Liverty, Number One Tiger Moth Road, forms the gateway into the new office quarter at the £210m Skypark development. It anchors the southern edge of the quarter’s Enterprise Square – a vibrant landscaped area with water features and communal areas for employees to meet and relax. It is the first phase of a much wider business park planned for Skypark. A business park, that in time, will provide up to 1.2m sq ft of commercial floorspace together with a hotel and ancillary facilities to create a new business community – all served by Skypark’s on-site carbon-neutral district heating system.
Ian Guy, Senior Development Manager at St. Modwen West and Wales, adds:
“Number One Tiger Moth Road sets the design benchmark for the entire development at Skypark. The building is BREEAM Excellent, EPC A-rated with 25% more energy efficient electricity consumption and a carbon emission reduction rate of 30%. We’ve experienced a rise in enquiries and viewings over recent months as word spreads about the very clear benefits on offer to local businesses.”
New tenants can also benefit from convenient links to the nearby M5 motorway, £3.5 million new road infrastructure into the development, five-acres of landscaped public realm area across the site and business rate relief for new and growing businesses operating within the Exeter and East Devon Enterprise Zone.
Skypark is already home to logistics operator, DPD UK and to the region’s Ambulance Special Operations Centre (ASCO West). The development is one of the most important strategic developments sites in the South West. When it completes in the next 20 years, this 110-acre site will provide around 1.4 million sq ft of warehouse, industrial and office space with a job potential of up to 6,500 roles.
