Stoford has completed the construction of a 42,500 sq ft regional fulfilment centre (RFC) at Exeter Logistics Park for a “major multi channel retailer”.
The BREEAM Very Good-rated unit sits on a 2.98-acre plot and is located just two miles from junction 29 of the M5 motorway.
The development was forward-funded by The Eyre Estate and constructed by Glencar. Stoford is lead developer for Exeter Logistics Park and has a long-term site wide agreement with the Church Commissioners for England to deliver circa 500,000 sq ft of high quality industrial/logistics accommodation on the site.
Edward Peel, director at Stoford, said: “Our development of Exeter Logistics Park continues to meet occupier demand for high-quality, sustainable accommodation in the South West. The new RFC is a well designed building that meets individual needs, with a combination of high-quality internal and external spaces. It provides further job opportunities for local people and supports our net zero carbon goals.”
Sarah Slater, chief executive of Eyre Estate Investment Fund, added: “We are delighted to have partnered with Stoford to fund the development of the unit, delivering on the fund’s strategy to invest in high quality sustainable buildings, in good locations, let to strong covenants.”
Joanna Loxton, head of strategic land investment at the Church Commissioners for England, said: “We are pleased to welcome the completion of the new regional distribution centre at Exeter Business Park, the latest milestone in our development partnership with Stoford. Today’s announcement reflects the Church Commissioners’ wider commitment to partnering with best-in-class developers to deliver high-spec, sustainable employment facilities that support their local economies.”
JLL and Cushman & Wakefield are retained agents at Exeter Logistics Park.
