Waterstones to close Exeter High Street branch

Waterstones is set to close its branch on Exeter High Street as it makes way for a branch of The Ivy restaurant.

The book chain currently has two shops in Exeter, and plans to close its High Street store and simultaneously invest in its second Roman Gate branch, including creating a larger café.

After the Waterstones branch has closed, the building will house an Ivy restaurant employing 100 people, according to devonlive.com.

A spokesperson for Waterstones told The Bookseller its strategy of closing one branch where there are two in proximity and investing in the remaining branch had so far proved successful.

"Exeter is one of a few towns where we continue to run two bookshops in very close proximity. It is our wish to close the High Street branch and to invest simultaneously in a refit of our Roman Gate shop,” a spokesperson said. “Where we have done this in other towns - notably recently in Edinburgh and Canterbury - we have enjoyed great success with the single, smartened up shop selling more than the two had done.”

All Waterstones booksellers will transfer from the High Street branch to Roman Gate, but the timing is dependent upon negotiations with the landlord, the company said.