Land Securities has unveiled plans for its much-touted redevelopment of Exeter city centre.
The redevelopment, which will be a joint venture with Exeter City council, will provide space totalling 37,161 sq m (400,000 sq ft).
It will include a 11,613 sq m (125,000 sq ft) department store, a 4,180 sq m (45,000 sq ft) variety store, four major shops and 58 smaller units.
A multi-storey car park, housing, and cafe/restaurants will be integrated within the scheme.
LandSec, which has major holdings in Exeter, has moved ahead with the development because of a widespread perception that the Exeter retail market is limited because of a lack of units and, in particular, lack of a department store.
LandSec deputy managing director, Ian Henderson said: “Given the shortage of high quality product at the moment, we are concentrating on creating investments in those areas where we already have representation. That is: Sunderland and Exeter.”
LandSec will submit plans for its Exeter scheme later this year.
EGi News 08/09/97
