Stagecoach has ignored Hammerson’s calls last week for a co-ordinated approach to the redevelopment of central Exeter and submitted separate plans to the city council for the bus station site. Stagecoach is proposing a multi-screen cinema, nightclub, entertainment centre and health & fitness club on the 3ha (7.41-acre) site.
Stagecoach, which has 11 years left on its operating lease for the site, submitted outline plans two years ago. Landowner Exeter council then asked Stagecoach to revise its scheme.
The council has since produced its own planning brief for the site and is keen for other developers to submit plans.
Both Hammerson and Land Securities (LandSec) have adjoining landholdings. LandSec has been working on a 43,200 sq m (465,000 sq ft) shopping scheme for the Princesshay site, which has twice been rejected or dropped. Hammerson has invested £12m in buying up the retail street frontages around the bus station site.
EGi News 10/01/01
