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Thu October 19 2017

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News » UK » Funds secured for Brighton Circus Street scheme » published 7 Aug 2017

Funds secured for Brighton Circus Street scheme

Developer U+I Group has secured £70m of forward-funding to develop Circus Street, Brighton, in partnership with GCP Student Living and Gravis Capital Management.

The Circus Street development is a £130m mixed use partnership with Brighton & Hove City Council to transform a derelict municipal market. Plans for the regeneration project include 142 new homes, 450 student bedrooms and 30,000 sq ft of new office space.

Construction has now begun on the project and the majority of the buildings on site will complete in 2019. 

U+I deputy chief executive Richard Upton said: "Securing funding for the Circus Street project is a key milestone and enables construction to begin. The development shows how we can create value through our proven planning and regeneration expertise, whilst also delivering significant cultural and socio-economic benefits to the local community.

"Large scale mixed-use public private partnerships are a core aspect of our strategy, enabling us to build a pipeline of regeneration projects that deliver returns in a capital efficient manner."

 

MPU

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This article was published on 7 Aug 2017 (last updated on 7 Aug 2017).

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