vpg new leasing deal in exeter uk

a 10 year lease with the first year rent free shows how
tough things are out there

regardless in time this too will bear fruit


City centre Senate draws law firm 15.01.10

As developers in Exeters out-of-town office market battle for prelets, Valads existing Senate building in the city centre is slowly starting to fill

Solicitor Trowers & Hamlins took 7,400 sq ft at the end of last month on a 10-year lease at 16.50/sq ft with 12 months rent free. A further 8,000 sq ft of space is understood to have been placed under offer by an unnamed occupier.

This now leaves only 22,000 sq ft available at the 72,000 sq ft development, which was completed in 2007.

News agency Thomson Reuters, Ford Simey Solicitors, Rathbone Investments and Forsyth Business Centres also occupy the Senate.

Despite the Exeter markets emphasis on out-of-town development, Didier Tandy, head of property, Europe, at Valad, says occupiers still want space in the city centre.

The problem is that there is very little space in the centre, where there has barely been any office development since we completed. There has been a lot of regeneration in Exeter, including Princesshay shopping centre, and it now seems a much bolder move to move out of the centre.

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