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Sun April 11 2021

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McLaren sells share of Brighton scheme

18 Mar 15 Development Securities has taken full ownership of the planned £100m Circus Street regeneration project in Brighton.

The Circus Street development is in the centre of Brighton
The Circus Street development is in the centre of Brighton

Development Securities previously shared ownership of the scheme in a 50:50 joint venture with McLaren Property. However, it has now bought out McLaren for £4m.

Resolution to grant planning consent was secured in September 2014 to transform a derelict fruit and vegetable market in Brighton into a mixed-use regeneration project. [See our previous report here.]

Circus Street will incorporate 142 residential units, 450 student beds and 38,000 sq ft of office space. There will also be a new dance studio for South East Dance and a new library and academic buildings for the University of Brighton.

The project is being delivered as a public private partnership alongside the freeholders of the land, Brighton & Hove Council and the University of Brighton.

Construction is expected to start on site later this year.

DevSec executive director Matthew Weiner said: "Circus Street will create an exciting new quarter within Brighton, offering first class facilities for the University and for South East dance within a vibrant new mixed-use community. Originally one of the projects within Cathedral Group's portfolio, Circus Street perfectly complements our activities and builds on our experience in mixed-use regeneration in Greater London and the southeast."

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MPU
MPU

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