Princesshay Exeter hails strong performance in first full year under new ownership
Princesshay in Exeter is hailing strong trading and leasing performance in 2025, its first full year under the ownership of Frasers Group.
Over the course of the year, Princesshay welcomed 10.7 million visitors, a year-on-year increase of 6.4%. Growth was recorded every month when compared to 2024, with December delivering an uplift of 9.8%, ahead of benchmarks for the South West (+3.3%) and the UK (+0.1%), according to Springboard MRI.
This increase in footfall was supported by continued leasing activity at Princesshay in 2025: over the course of the year, 13 new lettings and 19 lease renewals were completed – extending to over 100,000 sq ft. This included Frasers Group-owned units on Sidwell Street and Paris Street. High-profile brands that opened at the shopping centre in 2025 included Sweaty Betty and Victoria’s Secret.
This momentum has continued into 2026, with Charles Tyrwhitt set to open next month and Pandora relocating to a central mall unit in February. Plans are also progressing for the redevelopment of the former Debenhams store and the reimagining of the adjacent restaurant blocks as a means to revitalise the Cathedral-facing outdoor square.
Frasers Group acquired Princesshay in 2024.
Victoria Chantler, asset manager at Sovereign Centros CBRE, said: “Princesshay continues to demonstrate what can be achieved when leasing, marketing and events strategies are fully aligned. The uplift in footfall and commercialisation income is a direct result of this joined-up approach, and with further investment planned, the centre is well positioned to keep building on this momentum into 2026.”