7500 jobs target on 110 acre airport site

Michelmores LLP, the leading commercial property law firm in the Westcountry, has advised regeneration specialist, St. Modwen Properties plc, on the agreement concluded with Devon County Council to develop a £210million Skypark mixed commercial scheme in Exeter. 

Devon County Council appointed St. Modwen as the preferred Joint Venture Partner and developer of Skypark in March 2009 and the signing of the agreement means that the transformation of this 110 acre site will now progress.

The site, situated to the north of Exeter International Airport, is set to create circa 7,500 jobs when completed, making it the most significant employment site in the South West Peninsula.

In a joint venture with Devon County Council, St. Modwen will now progress work on the development of some 1.4 million sq ft of office and industrial/manufacturing space, ancillary retail developments and a hotel on site, by working up detailed designs for the 20-year regeneration scheme. 

The project is set to become a model of sustainable development as the Skypark proposals are designed to ensure the development will result in overall CO2 emissions being reduced by at least a third.

Other specific sustainable measures will include Office and Industrial Buildings constructed to the recognised high environmental BREEAM Excellent Standard, and all water on-site treated via a 'Sustainable Urban Drainage System'.

Joanna Damerell, a partner at Michelmores LLP and part of the specialist legal team advising St Modwen, said: "We are delighted to support St Modwen in this development which will have a major impact on the local and regional economy and will act as a catalyst for economic recovery in the South West. In national terms, it will act as a model for economic regeneration and sustainable construction.

"As commercial property specialists, we are involved in a number of landmark projects including new developments at Exeter University and at Tremough for the Combined Universities in Cornwall, and the redevelopment of Brixham Fish Quay as part of the wider regeneration of the Torbay coast, all of which will underline the property sector's role in regenerating economic momentum for the area."

Ian Guy, senior development manager at St. Modwen, added: "We're delighted with the Council's decision to sign the development agreement with St. Modwen. We're committed to developing the site into an exemplar sustainable environment for business. We know this strategic site will not only provide the much needed new employment space for the future of Exeter but, due to its size, and with the right design, we believe it can become one of the most important commercial sites in the region. We believe Skypark can become the 'economic engine room' for the whole of Devon and the wider South West peninsula.

"Initially, we will take the necessary steps to prepare the site for redevelopment and will be submitting the detailed designs to East Devon District Council that will outline our vision for Skypark. We are eager to bring forward a first phase of the development and envisage starting the first construction work in the latter half of 2010 or the beginning of 2011."

For further information, please contact:

Louise Edwards, Head of Marketing, Michelmores
Tel: 01392 688688
Email: louise.edwards@michelmores.com

Charlotte McCarthy, PR Manager, St. Modwen
Tel: 0121 222 9400
Email: cmccarthy@stmodwen.co.uk

( Last Updated: 17-03-2010 )

< Back