The Crown Estate and TH Real Estate have gained outline planning approval for their £75m Princesshay Leisure scheme in Exeter.
The project involves redeveloping part of Exeter’s bus and coach station site into a retail and leisure destination incorporating a cinema, restaurants, café and shops, as well as a new public square and amphitheatre and improvements to the highways infrastructure.
The plan forms part of a wider masterplan, which includes a new bus station and leisure centre, being brought forward by Exeter City Council.
The partnership is now in talks with the council to finalise its section 106 agreement and will be hosting public consultations on the proposal.
John Grinnell, deputy head of development at The Crown Estate, said: “This scheme would represent a substantial investment in Exeter that will support the city’s position as the region’s most popular destination for shopping, leisure and business, while boosting jobs, trade and the local economy.
“We’re delighted with the council’s decision and will be starting work on the reserved matters application right away.”
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