Stovax Heating Group Ltd has signed a 15-year lease for a new purpose-built 196,037 ft manufacturing unit at Skypark in Exeter.
Stovax & Gazco is a leading manufacturer of high-quality stoves and fireplaces, exporting to over 25 countries across woodburning, gas, and electric fuel types. Operating for almost 40 years, the manufacturer employs around 300 staff local to their Exeter facility.
The Skypark business park – a partnership between leading regeneration specialist, St Modwen and Devon county council – combines industrial, office, and distribution space in one hub, and is the cornerstone development of the Exeter and East Devon Growth Point initiative. It is planned that Skypark will be the South West’s most significant business park, also including hotels, local facilities and a biomass and gas combined heat and power plant, in a landscaped environment of over 100 acres.
Alistair Compton, managing director at Stovax & Gazco commented: “We have ambitious plans to continue our 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, whose hard work, expertise and innovative thinking are at the very core of the Stovax & Gazco brand ethos.
“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.”
The building has been designed to the BREEAM ‘Excellent’ standard, putting the proposed facility in the top 10 per cent of UK non-domestic buildings in terms of sustainability performance.
Ian Kingscott, group technical director at Stovax & Gazco said: “The new facility will allow us to continue to invest in our world-leading research & development functions, with high focus given to renewable energy heating sources such as electric and hydrogen, all of which are part of our NIBE parent company’s ongoing vision and commitment to sustainability and environmental responsibility.”
Paul Swan, group finance director at Stovax & Gazco, said: “This multi-million pound deal is a historic event for the Stovax Heating Group, and confirms the long term commitment of the company to its employees and the city of Exeter. The consolidation of our current multi-site real estate footprint into one state-of-the-art facility will have considerable financial and efficiency benefits for The Stovax Group, as well as its employees and other key stakeholders.
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