The Exeter economy has received a significant boost with the news that Calendar Club have signed a lease to take Exe Box, which is Exeter’s largest distribution building as their new UK headquarters’ reports Tim Western, Partner at King Sturge’s Exeter office, who handled jointly the letting on behalf of landlords, Threadneedle.

Exe Box on Matford was formerly occupied by M&S until reorganisation of the distribution network led to its closure. The building extends to 129,407 ft² on 7.7 acres.

Tim Western added: "We are delighted to have secured Calendar Club on a new, straight 15 year lease on Exe Box for our clients, Threadneedle. This deal represents the biggest, single letting ever in the Exeter industrial property market and it has come in a low point in the UK economy. The building is unique in terms of its scale and specification and therefore represented an excellent opportunity for a large distribution company."

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Hendrik Vollers, Managing Director of Calendar Club, commented: "Exe Box will henceforth provide us with a superb distribution centre for Calendar Club and Otter House. Calendar Club, the UK’s largest seasonal retailer, currently has 288 individual stores across the UK and Ireland in shopping centres and high streets, selling a wide range of calendars, diaries and related merchandise. This is a major investment for our group of companies and will be a great boost for our existing 135 permanent staff."

Nick Buckland, Asset Manager at Threadneedle Pensions, added: "It was disappointing to loose M&S as a tenant but we are delighted to have secured Calendar Club, especially as it is within 6 months of the expiry of the former lease. We feel that the deal secured represents good business all round and is positive news for the local economy."

King Sturge and Colliers International acted for Threadneedle; Benjamin Rose and Turner Locker acted for Calendar Club.

(GK)