Land Securities opened its Princesshay scheme in Exeter last week with about 95 per cent of units let.
The 530,000 sq ft (49,235 sq m) development is anchored by Debenhams and Next and has pulled in many new retailers to the city, including All Saints, Apple, Coast, Crew, Cult, Faith, Hobbs, Hotel Chocolat and Karen Millen. It also features 130,000 sq ft (12,075 sq m) of residential space and restaurants including Giraffe, Café Rouge, Chandos and La Tasca.
“We’re very pleased with how the scheme has turned out and with just a couple of units left, everything should be completed soon,” said Land Securities leasing director John Grimes. “We could have easily filled the scheme with mass-market retailers, but we wanted it to be more aspirational so we focused on bringing the likes of Reiss and LK Bennett to the city.”
The scheme also includes an area for independent retailers comprising 14 shops. Fashion outfit AH Moda, accessories retailer Orange Tree, Neal’s Yard Remedies and womenswear designer Caroline Charles have all taken space in the area, located along the scheme’s Roman Walk.
The design of Princesshay is a step up from Land Securities’ previous historic scheme, Whitefriars in Canterbury.
“We learnt a lot from Canterbury and it is similar to Exeter as both are historic cities,” said Land Securities development director Nick Davis. “But the detail in terms of public realm and civic space is different in Exeter and the scheme’s proximity to the cathedral makes it special. We made sure that wherever you are in the scheme you have a view of the cathedral and that gives Princesshay a sense of location.”
Princesshay has a European-style square at its heart that features public art to complement the views of the cathedral. The piazza includes restaurants such as Strada and La Tasca.
Letting agents at the development are Savills, Alder King and DTZ.
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