Exeter City Council is facing a pivotal decision regarding the sale of two significant sites for the development of student housing. This move, which aligns with a strategic development opportunity, is aimed at addressing the council’s financial challenges stemming from debts accrued by the unsuccessful venture, Exeter City Living.

The discussion centres around the former Clifton Hill leisure centre and the Mary Arches multi-storey car park. Despite a standing policy against the sale of land for student accommodation, the need to recover an estimated £9 million in outstanding loans necessitates a re-evaluation of this stance.

As the council’s executive convenes to explore this potential, the emphasis is on unlocking the full value of these assets. While current policies limit land sales for Purpose Built Student Accommodation (PBSA) within the city centre, revising this approach could markedly increase the financial return from these sales.

This consideration comes amidst the backdrop of a growing student population at the University of Exeter, intensifying the demand for student housing. The council is poised to make a decision that could reshape the city’s landscape and provide a much-needed financial boost.