Future of Princesshay redevelopment in doubt after developers pull out

The future of a major Exeter redevelopment is in doubt after developers announced they were pulling out.

The Crown Estate and TH Real Estate say they can no longer carry out the proposed extension to the Princesshay shopping centre "due to current market conditions".

The redevelopment would also have included Exeter bus station.

The proposals, which took more than two years to finally be approved, had included plans to convert the bus station into restaurants and a cinema.

The Crown Estate says the financial climate is the main reason for pulling out of the project.

The developer says despite the news it remains committed to the city of Exeter.