Developer agrees terms with first tenant at commercial scheme
Cornish developer Treveth has agreed terms with its first commercial tenant at a scheme in Pool.
The tenant, Rexel UK Ltd, a leading electrical distribution company, signed up for a 15 year lease and their strategic relocation to Dudnance Lane.
The 7,319 sq ft unit, located in a prominent, convenient warehouse location, close to the A30, stood vacant for some time before it was upgraded to modern standards in 2023 by Treveth.
Treveth, a sustainable developer which strives to achieve challenging carbon emissions targets set for 2030, saved over 100 tonnes of carbon during the refurbishment works by retaining the original foundations and steel structure of the building.
Robert Churchill, senior commercial property manager at Treveth, said: “We are thrilled to welcome Rexel UK Ltd to Treveth’s first fully-refurbished commercial property on Dudnance Lane. It’s great to have the unit finished and already fully let to a growing and expanding local business that will bring much-needed employment to this area.
“This lease agreement signifies Treveth’s commitment to curating modern commercial spaces that bring economic, social and environmental value and cater to the evolving needs of businesses here in Cornwall. We’re excited to see the early uptake of the unit by Rexel UK Ltd and look forward to seeing them thrive in their new location.”
The move from a current depot in Redruth by Rexel UK Ltd, which was facilitated by Truro-based property consultants Vickery Holman, has been made to accommodate Rexel’s expanding operations, and create a larger distribution hub for Cornwall.
Alan Trelor, director at Vickery Holman says Dudnance Lane has generated a significant amount of interest since marketing began.
He said: “High-quality, excellent specification commercial space is in great demand in Cornwall and the level of interest we received is a clear indicator that this sustainable workspace is just what the region needs.”
Under the stewardship of Treveth, the Dudnance Lane commercial unit offers Rexel UK Ltd a spacious and modern facility to optimise its operational efficiency and enhance the overall customer experience. The move reflects Rexel UK Ltd’s need for a larger footprint to meet the growing demand for its products and services.
Peter Warrington, head of property for Rexel UK ltd added: “We’re delighted to be moving our operations to this fantastic location. Dudnance Lane was selected for its strategic positioning and accessibility, offering Rexel an advantageous location for both operations and customer engagement. We are looking to expand on our presence and our services offered in Cornwall. This move will bolster our logistical capabilities and foster improved efficiency and scalability in the region.”
Treveth own and manage a number of commercial units in Bodmin, Helston and Falmouth which are all currently fully let. Its strategy is to grow its commercial estate to meet an ambitious target of creating at least 5000sq m of high-quality commercial workspace across Cornwall per year by 2025.
