Coplan Estates and joint venture partner Welbeck CP have received approval from Exeter City Council to develop a £120m resi-led mixed-use scheme at Exeter Canalside and the former Haven Banks retail park.
The scheme includes 423 homes, 239 of which are build-to-rent homes and 184 of which are co-living studios. It will also have commercial space and public realm.
The duo proposes to repurpose a mostly redundant retail park to the west of the city centre. The designs align with the council’s vision for the Water Lane strategic regeneration area.
JLL has been appointed to source an institutional partner for the residential elements.
Colin McQueston, head of development at Coplan Estates, said: “This scheme will be transformative for Exeter and a major strategic move to address the city’s housing need. Our plans to repurpose a brownfield, waterside retail park into a vibrant new piece of the city offer a glimpse of the future.
“It’s excellent to have a local planning authority grasp the nettle on intensification and high-quality, urban living and we’re looking forward to repaying that trust by delivering an outstanding development. We want to move forward as quickly as we can and, subject to completing the section 106, will be targeting a start on site in late 2024.”
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