Pepper Commercial have negotiated and sale and lease back of the CP Arts premises on Alphin Brook Road, Marsh Barton Exeter. The building comprised 19,247 sq.ft. (1,788.15 sq.m.) of industrial warehouse on a site of 0.9 acres. CP Arts will remain in occupation of the building with the investor; a regional property company, acquiring the freehold interest and rent from a new lease.
The building was built for the Royal Mail and comprises one on the few clear span structures of its vintage, together with an extensive concrete yard area. The site fronts Alphinbrook Road close to it’s junction with Trusham and Marsh Green Road. CP Arts specialise in 3D Point of sale material and printing and have been in the building since it was purchase around 20 years ago.
Industrial yields and rents have seen dramatic improvements over the recent period with a lack of supply and increasing demand. This transaction one of the biggest this year in the sector shows resilience and confidence in the market.