Exeter regeneration project including two new hotels to take a step forward

09 September 2019

A regeneration project involving two new hotels, offices and a new civic centre is poised to take a step forward with Exeter City Council's executive to discuss a land promotion agreement.

The cabinet is to discuss authorise the city surveyor, chief executive and council leader to negotiate and enter into a joint ownership and land promotion agreement with the other main land owners on the site, which is on Paris Street and Sidwell Street.

The report to be considered reads: "JLL is retained to provide a comprehensive development advisory service to promote the scheme, source and secure development and alternative investment partners and to advise on all aspects of delivery.

"JLL has, in turn, appointed Exeter-based urban design practice, Clifton Emery Design Ltd, to develop and refine the masterplan concept and the regional engineering consultancy, Awcock Ward Partnership, to provide development planning, transport and infrastructure advice and technical support

"We are in negotiation with the other principal land owners on the site, the Crown Estate and Nuveen, on an agreement for pooling property interests and jointly promoting the development proposition.

"This is considered to be the most expeditious and commercially advantageous arrangement to secure the comprehensive redevelopment of the site. Substantive agreement has already been reached on the core principles and terms of operation of such an arrangement.

"Authority is being sought to enter into the arrangement so that we can move forward on delivery.

"Once this joint agreement is in place we will be able to step up engagement with other third party owners and occupiers on the site."

Exeter City Council's executive is to meet on 10 September to discuss the plans.