Curlew Opportunities Acquire Prime mixed-use Development Opportunity in Exeter

Montagu Evans provided investment, development consultancy and agency advice to Curlew Opportunities in the acquisition of the Harlequins Shopping Centre for the purpose of a mixed-use development including 338 student beds spaces, 140 room hotel with bar and restaurant and a new park/piazza.

Montagu Evans provided land agency and development consultancy advice to Curlew Opportunities throughout the site acquisition process. The 1.7-acre opportunity comprised an existing shopping centre originally constructed in the 1980s with the redevelopment potential for PBSA established by way of a pre-application. Utilising their expertise and knowledge of the Exeter PBSA market, the team advised on an appropriate cluster-led scheme to satisfy local planning policy and to maximise the GDV whilst maintaining future student occupancy levels.

As part of the process, appraisals were produced to underwrite the acquisition of the long leasehold interest and advice was provided on its future liquidity, given its
ownership structure. A planning application was subsequently submitted for c.300 co-living bed spaces and a 114-bed hotel, providing flexibility for the occupation of the proposed scheme.