A global stove and fireplace manufacturer is to build a major factory at Exeter’s growing £210million Skypark development near the city’s airport.
South West property consultant Vickery Holman has just completed one of its biggest deals of the year with the signing of a 15-year lease for to move into the park.
Stovax approached Vickery Holman to help it negotiate terms with property investment giant St Modwen and Devon County Council, which jointly own the Skypark.
READ MORE: {}
The company, which trades as Stovax and Gazco, will move into a new, purpose-built 196,037sq ft manufacturing unit at the site, which is at the heart of the Exeter and East Devon Growth Point initiative.
Construction of the new plant is scheduled for the second half of 2021, and Vickery Holman is also working on the exit plans for Stovax’s nine sites at Exeter’s Sowton Industrial Estate.
Stovax said it has outgrown its current buildings and production facilities and is expecting to be in its new factory by 2022. Stovax makes high-quality gas, electric, wood-burning and solid fuel stoves and exports them to more than 25 countries around the world.
The firm, the largest stove and fireplace manufacturer in the 海角视频, has been in the industry for 40 years and employs about 300 staff in Exeter.
Spanning more than 100 acres, has been dubbed Exeter’s new generation of business park, combining industrial, office, and distribution space.
Most Read
Located near Exeter Airport and only 1.5 miles away from Sowton, Stovax’s new premises will house offices and manufacturing facilities, and the company said: “It will allow us to continue to invest in our world-leading research and development functions, and offering scope for improvements to our logistics, communications, and productivity.
“Our new base at Skypark meets our high requirements for a premium, sustainable space to facilitate the expansion of our manufacturing and business operations under one roof.
“Relocating our current sites to this specially designed facility will not only ensure we retain our strong local supply chain, it will also significantly speed up our operations, increase our production rate and efficiency, and lower our operating costs.”
The new building has been designed to the BREEAM “Excellent” standard, putting the proposed facility in the top 10% of 海角视频 non-domestic buildings in terms of sustainability performance.
BREEAM-rated developments are more sustainable environments that enhance the well-being of the people who work in them, and Stovazx said it will allow it to retain its “knowledgeable and valued local employee base” whilst helping to protect natural resources.
“Incorporating the latest technology, insulation, and heat recovery and cooling systems, our new environmentally-considered building also allows us to reduce our commercial energy usage and carbon footprint. This is a vital step in securing the sustainability of our operation as the market leader in our sector,” the company said.
“Relocating to Skypark will allow us to continue our history of growth, and to build upon our position as a leading manufacturer of wood burning, gas and electric stoves and fires.”
Don’t miss
How to contact William Telford and Business Live
Business Live's South West Business Reporter is William Telford. William has more than a decade's experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
To contact William: Email: william.telford@reachplc.com - Phone: 01752 293116 - Mob: 07584 594052 - Twitter: - LinkedIn: - Facebook:
Stay in touch: BusinessLive newsletters have been re-designed to make them even better. We send morning bulletins straight to your inbox on the latest news, views and opinion in the South West. Get our breaking news alerts and weekly sector reviews too. Sign up now - it's free and it only takes a minute. To sign up for Business Live's daily newsletters click .
And visit the Business Live South West LinkedIn page
St Modwen has already completed earlier phases at Skypark, including a district heating centre, an ambulance response facility, a distribution facility for DPD, and a range of office units.
The scheme’s strategic location provides quick access to the M5 and neighbours Exeter International Airport. This environmentally sustainable business park is a 20-year project and has the potential to provide up to 6,500 jobs in the long-term.
“We’re delighted that Stovax chose us to work with,” said Mike Oldrieve, investment and development consultant with Vickery Holman. “It was a significant deal to negotiate and the intention now is that we can continue to support our client with business rates advice and lease consultancy as they manage the exit from their current sites in Exeter to the new building at the Skypark.”
Stovax currently occupies nine buildings on Sowton Industrial Estate and will be working with Vickery Holman to manage the exit process.
“One of the strengths of working with a multi-disciplinary property firm like Vickery Holman is that we can support clients with the full range of property services,” said Chris Sexton, head of lease consultancy. ‘We will be advising our client on leases and business rates to ensure the smooth transition from the current sites to the Skypark, scheduled for 2022.’