Coplan Estates and joint venture partner Welbeck CP have received the green light for a circa £120m GDV residential-led, mixed-use development at the former Haven Banks retail park in Exeter.
Plans to repurpose the largely redundant retail park, which sits on the canal side to the west of the city centre, have been worked up over the last two and a half years and the designs were chosen to align with Exeter City Council’s vision for the Water Lane strategic regeneration area.
Under the plans, the retail park will be transformed into a scheme boasting 423 new homes, commercial/retail uses, high-quality public realm and comprehensive new landscaping.
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 and the wider Water Lane regeneration area.
“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 S106, will be targeting a start on site in late 2024.”
Coplan Estates and Welbeck CP have appointed JLL to source an institutional partner for the residential elements of the development. Union 4 advised the joint venture partners on planning.
