Pennon expands footprint at Exeter business park

Listed utilities firm Pennon has expanded its footprint at a business park in Exeter. The owner of South West Water, Bristol Water and Bournemouth Water has acquired the 7,731 sq ft South Suite of Estuary House on Peninsula Park.

The company, which has its headquarters at Peninsula House on Rydon Lane, will use the office space at Estuary House for its growing engineering division, it said.

The open-plan offices include two suites on the first floor. The South Suite was recently refurbished and the property also has up to 48 car spaces.

Property consultancy Alder King advised Pennon on the transaction.

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Noel Stevens, partner at Alder King, said: “Exeter has enjoyed encouraging levels of office take-up in recent months, particularly out of town where there is greater availability on the business parks and better quality space as a result of recent refurbishments. This acquisition for Pennon is another solid example of mid-range activity.”

Pearce Property Consultants represented the landlord.