Development Securities today announces that Circus Street, a major mixed-use regeneration scheme in Brighton and part of the Cathedral portfolio, has received Resolution to Grant planning. The £100 million (approx. €126 million) regeneration which will be delivered in joint venture with McLaren, will transform a derelict market in the center of Brighton into a vibrant commercial, cultural and residential quarter.
The development will include 142 new homes, 450 student beds, 38,000 ft² (3.530 m²) of office space, a state-of-the-art dance studio and a new library and academic building for the University of Brighton.
Circus Street is a ‘public private partnership’ project between development partners Cathedral and McLaren alongside the freeholders of the land, Brighton and Hove Council and the University of Brighton. The project was acquired by Development Securities as part of the Cathedral acquisition in May 2014. Construction of the whole scheme is anticipated to commence in Q2 2014 with a targeted completion in Q3 2017.
Source: Development Securities