News

Off market office deal is a sign of strong demand

The Exeter office of surveyors Stratton Creber Commercial has let a Southernhay office building in an off-market transaction.

Unit 6 Victory House forms part of the Dean Clarke House estate which, over the last decade, has been turned from former NHS premises into a mix of offices, high-end residential and restaurant premises. The unit is a self-contained office on ground and first floors, and combines the character of an older building with a modern office fit-out. The 1,184 sq ft office was offered at a rent of £17,750 per annum.

The property has been let to Vectos, a provider of infrastructure design and transport planning services to the development industry, who relocated from serviced offices nearby.

The deal is one of a number of current and recent office transactions in the city centre to have been conducted without the properties coming to the open market, or to have been let within days of coming to market. Demand for Southernhay offices is currently very strong, while availability remains at a very low level. Stratton Creber Commercial have transacted around a dozen offices in the Southernhay area since the start of the year, and void periods have typically been less than a month. With a further 7,000 square feet of offices currently under offer through Stratton Creber Commercial alone, availability is set to fall yet further through the summer months.

For further details, contact Jonathan Ling of Stratton Creber Commercial on 01392 202203.