UK
Ireland
Scotland
London
U+I Group has secured £70 million of forward-funding to deliver a new mixed-use development in Brighton.
The £130m Circus Street development will feature 142 new homes, 450 student bedrooms and 30,000 sq ft of new office space, once completed in 2019.
The scheme involves transforming a derelict municipal market site into an innovation quarter and a powerhouse for regeneration in the city centre.
With construction now underway, the £70m forward-funding has been secured in partnership with GCP Student Living and Gravis Capital Management.
Richard Upton, Deputy Chief Executive of U+I, 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 ("PPP") are a core aspect of our strategy, enabling us to build a pipeline of regeneration projects that deliver returns in a capital efficient manner."
(LM)
