Stoford strikes deal for huge Exeter site

Stoford has struck a site-wide agreement with the Church Commissioners for England that will unlock future phases of development at a job-creating industrial scheme in East Devon.The agreement paves the way for the development of an additional 500,000 sq ft of industrial and logistics accommodation at Exeter Logistics Park.Stoford will develop the scheme on a design and build basis, with new units made available on freehold or leasehold terms.Exeter Logistics Park is part of the second phase of a significant industrial scheme which was opened in 2017, following the grant of outline planning.Part of the Exeter and East Devon Growth Point economic development zone east of the M5, near Exeter Airport, the scheme will total more than 650,000 sq ft upon completion and includes improvements to the local transport infrastructure.Stoford has already completed construction of a 90,000 sq ft distribution unit and a 415-space electric vehicle charging park at Exeter Logistics Park, on behalf of an international retailer.The new developments are expected to be completed this month and have the potential to create more than 100 jobs.It is estimated that Exeter Logistics Park could contribute between £90 million – £105 million to the regional economy when fully complete.The scheme’s retained agents are JLL and Cushman & Wakefield.