Crown Estate and TH Real Estate is set to invest £70 million in Exeter city centre, adding a leisure extension to its existing Princesshay retail development.

Princesshay Leisure will redevelop the bus and coach station, creating 180,000sq ft of new leisure space including a new cinema, restaurants and cafes. The site will be adjacent to a proposed council-led swimming pool and sports facility.

The new development would be designed to complement and enhance the wide range of shopping and dining options already available to customers at Princesshay, which include leading brands.

Princesshay Leisure would sit alongside the Council’s proposed leisure centre, which would deliver a new swimming pool and sports facilities.

John Grinnell, Development Manager for the Princesshay Leisure scheme, said: “Our proposals will transform a tired, run-down site, providing a range of entertainment and dining options to complement Princesshay’s already popular retail and leisure offer.

“These plans will help strengthen Princesshay’s position, as the south west’s premier shopping and leisure destination, at the same time as creating hundreds of new jobs and facilitating major improvements to the city’s infrastructure and public spaces.

“We are looking forward to meeting Exeter’s shoppers, businesses and residents and hearing their views about regenerating this important gateway to city centre.”