A giant new £80 million build to rent project is to go ahead in Brighton, on the south coast of England, giving the city’s real estate market an important boost.
The 200-home scheme set over 18 storeys is located just meters from Brighton’s rail station. The developer, Legal & General, already has 11 build to rent schemes across the UK with 3,700 homes in total.
The new Brighton development will include 3,270 sq meters of commercial space for businesses including start-ups and SMEs, which are well represented in the entrepreneurial city.
Dan Batterton, head of build to rent at LGIM Real Assets, said: “Brighton is an ever growing city where people want to live and work. As a major employer in the area, we are delighted to have received permission to begin developing this scheme, transforming a rare warehouse brownfield site into a vibrant new place whilst helping to tackle Brighton’s shortage of housing.”