St Modwen has been selected to become the joint venture partner for the £210m Skypark development in Exeter.
Devon County Council chose St Modwen from a shortlist of developers for the 1.4m sq ft of offices and industrial space scheme.
The 107 acre Skypark site sits to the north of Exeter International Airport and is owned by the council.
The joint venture is a structured as a government loal asset backed vehicle and will allow the council to benefit from the future value of the development.
Ian Guy, senior development manager, St Modwen, said: ‘This 1.4m sq ft scheme represents a major growth area for Exeter and the south west region. We are committed to delivering a sustainable business park environment.’
The council granted planning permission for the scheme, subject to a 106 agreement, this month following the council, advised by King Sturge, working on a six month procurement process.
The council decided to use the local asset backed route rather than sell the Skypark scheme with the rest of Exeter International Airport.