Investors eyeing up city after regeneration boosts appeal

INVESTORS are increasingly eyeing Plymouth city centre after the £18m regeneration of Old Town Street and New George Street. And with work now underway on a £30m redevelopment of Armada Way, there is increasing confidence from investors, a leading property expert said.

- By WILLIAM TELFORD

Joanne High, an associate and head of agency for property consultancy Vickery Holman in Plymouth, told a major meeting of property professionals that Drake Circus Shopping Centre and the upper part of Cornwall Street are now close to being fully let. She said this showed the strength of the city centre in attracting retail investment.

She told Vickery Holman’s Market Review event, held at Plymouth Argyle’s Home Park, that although retail transactions have fallen from 42% to 26% of all properties sold, including office and industrial, in the past year, there are investors looking at Plymouth. She told the meeting that while retailers are struggling, “national retailers are looking at areas where they can fill gaps”