Industrial to let in Mercury Business Park, Exeter EX5

Situation and description

The premises are located on the edge of Exeter and Pinhoe close to the M5 Motorway offering excellent access to Taunton and Bristol in the North, and Exeter into Cornwall to the West. Cullompton, in the other direction has a resident population of approximately 9,000 and has seen considerable growth in recent years including recently being awarded Garden Village status as part of the Governments Garden Village Scheme. Exeter is a University City steeped in history being the capital City and county town of Devon and has firmly established a reputation of being the commercial centre of the South West. The city has a population of approximately 110,000 with a ‘drive to work’ population of some 480,000 within a 45 minute catchment area.

The Mercury Business Park is located between Exeter and Cullompton off the A3181, running parallel to and visible from the M5 Motorway and just 2.5 miles from Junction 28 of the M5 at Cullompton. The development comprises 6 phases totalling some 5,575 sq.m (60,000 sq.ft) on a site of 1.93 ha (4.79 acres) offering a wide range of users including owner occupiers and tenants. The units are completed to a high standard and are suitable for a wide variety of potential users.

Accommodation

Brief details of the accommodation with approximate maximum internal dimensions are as follows:-

Workshop 13.94m x 6.21m (45’9” x 20’5”) max
Glazed pedestrian door with glazed side panels from the forecourt area with an electric roller shutter door providing excellent vehicular access. Light and airy space with ample translucent roof panels. Power floated concrete floor. Block walls to lower elevations. Minimum eaves height of 6.88m (22’7”) rising to 8.26m (27’11”) max at the rear. High level windows to the front offering additional natural light and ideally suited to the installation of a mezzanine floor.

To the rear of the unit services are provided for the construction of a Toilet which can be completed by the landlords or a rent free period provided to allow the tenants to install this themselves.

Externally

To the front of the premises is a wide concrete loading and unloading area with parking for up to 4 cars. At the far end of each block is a shared bin storage area.

Rent

A phased rent is sought for the first 3 years of the term. This will be set at £9,950 for year 1, rising to £10,950 pax in year 2 and then £11,950 pax in year 3 payable quarterly in advance by standing order. VAT is chargeable on the rent and service charge.

Service charge

A service charge will be payable to cover the costs of the shared landscaping and shared services.

Lease

A new 6 or 10 year Fri lease is available with an upwards only rent review at the end of the 3rd or 5th year. The lease will be contracted outside of the Landlord and Tenant Act 1954.

If the lease is to be taken by a Limited Company, at least one director will be required to act as a guarantor to the lease for the duration of the term. A 3 months’ rent deposit may also be required, full details on request.

Energy performance certificate

An EPC will be available on completion, a copy of which can be downloaded from the web site. The rating is:

Rates

Rateable Value: - £8,800 (2023 valuation)

We are advised that qualifying businesses may benefit from a rate reduction of up to 100% under the Small Business Rate Relief scheme. To see if you or these premises qualify for this discount please contact Mid Devon District Council on .

Services

Mains water, drainage and electricity (including 3 phase) are available to the premises. We understand that Fibre has also been brought into the premises offering high speed broadband. Interested parties are encouraged to make their own enquires with the relevant service providers.

VAT

VAT is payable on the rent and any service charge.

Legal costs

A contribution of £395 plus VAT is required towards the landlord’s legal and administration costs in setting up the new lease.

Viewing

Strictly by prior appointment only with the sole agent, for the attention of Tony Noon Ref (0713)