Boxpark revealed its plans, which involve reviving the crumbling Victorian arches, and incorporating a new premium hotel operator. The development would see the arches augmented with a new building and urban green spaces.
Brighton and Hove resident and Boxpark founder, Roger Wade, developed the plans alongside Project Creator Paul Nicholson from Brighton founded Chalk Architecture.
Mr Wade said: "As a Brighton and Hove resident, I'm passionate about the regeneration our of outstanding sea-front. Madeira Terrace is the embodiment of the Victorian grandeur that saw Brighton become the UK's favourite seaside destination. Our proposal aims to redevelop this much loved area to create a year round retail and leisure destination to be enjoyed by local residents and visitors to the coast alike. We're looking forward to the opportunity to work with Brighton & Hove City Council, local stakeholders and businesses and our development partners over the next 12 months to explore how we bring the Boxpark concept to Brighton, whilst retaining the architecture and heritage that our seafront is synonymous with."
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Paul Williams, Development Investment Advisor, Morgan Williams added: "Boxpark's innovative and refreshing approach to the retail and leisure sectors will be a perfect match for this potentially iconic development. The development team assembled combines local sensitivity with international expertise. I have absolute confidence that we will secure strong investor interest from a wide range of UK institutions, property companies and international investors including sovereign wealth funds, many of whom may normally be constrained to investing in London."
(CM)
