John Lewis to open first flexible format department store with Land Securities (UK)

John Lewis has announced it will open the first of its new flexible format department stores in Exeter city center.

A much bigger shop than the originally planned John Lewis at home, John Lewis Exeter will be located on the Sidwell Street site, owned by Land Securities, and will be open by late 2012.

John Lewis Exeter will offer the full John Lewis assortment, including fashion, beauty, electronics and nursery. The John Lewis shop will boost local employment with the creation of around 300 new jobs, 120 more than originally planned and investment in the city is also set to increase significantly, now standing at almost double the initial estimate.

Richard Akers, Land Securities' Managing Director for Retail, said: "We're proud to have worked with John Lewis to launch this new format. It is a significant development for John Lewis, for Exeter and for the whole retail sector."

Speaking about the deal Land Securities' Development Director, Nick Davis, said: "The new John Lewis department store will significantly strengthen the city's retail offer, improve people's shopping experience and add vibrancy to the high street.

"Our strong partnership with John Lewis and Exeter City Council will benefit residents and visitors to the city and will lead to further inward investment into the city center."

Source: Land Securities

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