Part First Floor, Millford House

Pynes Hill, Exeter

A Landmark building in Exeter's pole position

Features

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Details

Location

Exeter is the regional and administrative centre for Devon and is one of the fastest growing cities in the UK. Milford House is situated in a prime and prominent position just off the A379 in the established office campus location of Pynes Hill less than 1 mile from Junction 30 of the M5 motorway and less that 3 miles from Exeter City Centre with regular bus links.

Pynes Hill is Exeter’s premier office park. It benefits from having a new Costa Coffee at its entrance and being in close proximity to Rydon Lane Retail Park and Ludwell Valley Park, one of six Valley Parks managed by the Devon Wildlife Trust.

Other occupiers in the immediate location include Brewin Dolphin, Michelmores Solicitors, AXA and the NHS.

On Site Car Parking

24 on site parking spaces and one dedicated EV charger with shared visitor and disabled parking adjacent to the main entrance.

Energy Performance Certificate

The EPC carried out on this property (for the whole building) is showing as B (score of 50).

Terms


The accommodation is available by way of an assignment of the existing lease dated 30 June 2023 which is for a term of 10 years with an upwards only rent review from 30
June 2028 at a current rent of £52,858.75 per annum until 30 June 2024 increasing yearly as follows:

w.e.f 01 July 2024 £108,738.00 ( £18.00 psf )
w.e.f 01 July 2025 £111,758.50 ( £18.50 psf )
w.e.f 01 July 2026 £114,779.00 ( £19.00 psf )
w.e.f 01 July 2027 £117,799.50 ( £19.50 psf )

The base rent with effect from 01 July 2028 will be £120,820 per annum ( £20.00 psf ). There is a tenant only option to break the lease with effect from 30 June 2028.

Business Rates

Details of rateable values which apply to the suites are available from the Agents. For confirmation of the rates payable you are advised to contact Exeter City Councils
Business Rate department on 01392 265559.
Legal Costs

Each party to bear their own legal costs in the transaction.

VAT

All figures quoted are exclusive of VAT if applicable.

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