Eleven bidders have thrown their hats into the ring to redevelop a city centre car park in Exeter, some with more than one idea.
The city council wants Mary Arches car park behind Fore Street to be turned into homes, and leader Phil Bialyk (Lab, Exwick) said there had been ‘strong interest’ in it.
Giving up the car park is seen as a way of recouping money lost with the collapse of the Exeter City Living housing company.
A decision to wind up the company left the city an estimated £10 million out of pocket, and the council believes selling land at Mary Arches and Clifton Hill will go a long way towards getting the money back.
The council won’t let Clifton Hill nor Mary Arches be used for purpose-built student accommodation, and instead aims to creating badly-needed housing for local people. It is expected developers will come forward with proposals for ‘co-living’, in which residents get a private ‘bedsit’ room in a furnished building with shared common areas.
Cllr Bialyk told an executive committee meeting: “There were 14 bids from 11 different bidders.
“The council has now signed heads of terms with the successful party for sale subject to planning permission.”
He said he could not go into financial details, but the sale would recoup its share of the money lost in the Exeter City Living collapse.
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