Property duo get green light for £120m mixed-use scheme in Exeter

Coplan Estates and Welbeck CP, joint venture partners, have received approval for a residential-led, mixed-use development valued at around £120m at the former Haven Banks retail park in Exeter.

The project involves converting the retail park into a development featuring 423 homes and commercial/retail spaces.

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 enlisted JLL to find an institutional partner for the residential aspect of the development.

Planning advice for the joint venture was provided by Union 4.