Network Rail has launched a hunt for a developer to partner it in the creation of a £50m mixed-use “gateway” scheme adjacent to Exeter St David’s.
The project will see the redevelopment of 6 acres of car park land surrounding the train station.
The proposed scheme includes more than 150,000 sq ft of mixed-use space, which could include student accommodation, shops, offices and a hotel, plus a 475-space multi-storey car park.
The developer will also be expected to provide an enhanced transport interchange in line with improvements that Network Rail is undertaking at the station, plus a new public square.
Network Rail said it would not contribute any funds to the project, but would pass the freehold or long leasehold of most of the site to the developer once the multi-storey car park and new train crew accommodation facilities had been delivered.
Alder King is advising Network Rail and hopes to select a development partner by spring next year.
daniel.cunningham@estatesgazette.com
