The Exeter office of Stratton Creber Commercial has let a modern office unit at Exeter Airport Business Park.
Unit 4, Silverdown Office Park, which offers 2,325 sq.ft. over two floors, was formerly occupied by OneServe, who have moved to the recently-built offices at the emerging Skypark development. The offices have now been let to a firm of chartered accountants, who are relocating from Honiton. The new letting provides the private landlord of Unit 4 with a rental increase and a good tenant for at least the next 5 years.
Jonathan Ling, who acted for OneServe in the transaction, comments: “The letting of this unit further exacerbates Exeter’s critical shortage of modern office space, which is being felt most on its business parks, where availability of units of this size is virtually nil. The city is caught in a trap, where demand is very strong at rents at or slightly above the going rent for modern offices, but development is only viable at much higher rental levels. We are also suffering from a lack of allocated employment land in the Greater Exeter area. The overall result is that the last decade has delivered virtually no modern offices, so Silverdown remains one of the most modern office developments in the area.”
