St. Modwen has secured a 15-year lease to occupy a 196,037 square feet manufacturing unit at the Skypark development in Exeter for H2 2021.
The logistics group has already completed earlier phases at Skypark, which is located near the M5 and neighbours Exeter International Airport.
James Irwin-Singer, development manager at St. Modwen, said: “The high-quality manufacturing unit will serve as a more enjoyable and environmentally sustainable place to work and we are planning to get construction underway in the second half of 2021 on what should be an exciting project for all involved.
“The development will also significantly benefit the local community, providing more jobs, more skills, and more training to the Exeter area.”
The “environmentally sustainable” business park is said to be a 20-year project and has the potential to provide up to 6,500 jobs in the long-term.
Alistair Compton, managing director at Stovax & Gazco, said: “Our business has ambitious plans to continue its strong history of growth and to build upon our position as a trusted brand in the premium heating and decorative fireplace market.
“Our new base at Skypark is a fantastic opportunity to achieve this, and crucially allow us to keep our operation in the heart of Exeter and to preserve employment for our longstanding, talented team of staff.”
He added: “We’re delighted to work in partnership with St. Modwen in meeting our high requirements for a premium, state of the art, sustainable space to facilitate the expansion of our manufacturing and business operations under one roof.”