Legal & General (L&G) has acquired a new development site in the centre of Brighton.

Subject to planning approval, the company plans to deliver up to 200 new Build to Rent (BTR) homes as well as 3,000 sq m of commercial space arranged as incubator space to support start-ups and SMEs.

L&G's BTR platform now has a pipeline of almost 2,000 homes, with the aim to have 6,000 in planning, development or operation by the end of 2019.

-- Advertisement --

Dan Batterton, BTR Fund Manager at LGIM Real Assets, said: "Brighton is a vibrant city where people want to live and work. This acquisition represents a rare opportunity to acquire land in an unrivalled location and to deliver the first institutional-grade BTR scheme. We look forward to working with the Council to support Brighton's talented workforce with the homes they deserve."

James Lidgate, Chief Executive Officer (CEO) at L&G Homes, added: "Brighton is a thriving City with a hugely talented workforce. The UK needs urban centres that are fit for purpose and can support a creative, sustainable community like Brighton.

"Our BTR pipeline is growing at pace and it is exciting to see the impact that our developments are making to our UK cities."

(LM/MH)