The Princesshay Partnership, a joint venture between The Crown Estate and TH Real Estate, has been highly active recently with a number of projects in immediate proximity to Exeter’s Princesshay Shopping Centre in the pipeline. Along with a £70 million scheme to redevelop the existing bus and coach station, the partnership is now seeking permission to transform the lower levels of Broadwalk House to provide new restaurant space.
Should planning permission be granted, the new restaurant space would be installed on the ground floor of Broadwalk House North, which lies directly opposite the Roman Walk area of the Princesshay Shopping Centre. This space would be divided into two separate units, measuring circa 3,500 sq and 2,700 sq ft respectively.
In addition, the Princesshay Partnership would look to create new landscaped terraces immediately outside the new units, allowing tenants to offer visitors an outdoor dining experience during the summer months. These would effectively complement the new restaurants which have recently arrived at the Princesshay Shopping Centre, including Jamie’s Italian and Byron.
Senior asset manager for the Princesshay Partnership, Katherine Armstead, believes that the new spaces will be attractive for restaurant brands looking to capitalise upon the proximity of a major shopping centre in affluent Exeter.
She says; “The best modern destinations combine leading retailers with a quality dining and leisure offer to accommodate visitors who are looking for more than just a functional shopping experience.
“Whilst we’re at an early stage in the planning process with the proposal, we’re confident we’d be able to attract some really exciting catering operators to Exeter if it goes ahead.
“Progressing these plans is the latest example of how we’re looking to secure and enhance Princesshay’s position as the leading retail and leisure destination in the region.”
The Crown Estate and TH Real Estate have invested a significant amount into diversifying the tenant mix at the Princesshay Shopping Centre, which is already home to top high street brands including Topshop, New Look and River Island. Part of this strategy includes revamping the centre to create more space for leading retail and leisure brands, along with channelling a large amount of funding into creating accessible and attractive public spaces for consumers to enjoy.
