Brighton has undergone a transformation in recent years, but development shows no sign of slowing. With more growth and regeneration on the horizon, we discuss how this dynamic UK city will look in the future, and why 2020 is a great time to consider investing in the area.
£450 million regeneration scheme
The Brighton seafront is a vibrant and desirable location, but currently much of its potential is unrealised. This will change in the near future, with an ambitious regeneration scheme that will involve an extension of Churchill Square Shopping Centre, a new 10,000-seat conference centre at Black Rock, and a sustainable transport link connecting Europe’s largest marina to Brighton city centre. The first phase is due to begin in March 2020, with the final phase connecting Churchill Square to the seafront, resulting in a new, seafront-facing ‘retail and leisure’ destination.
Sea Lanes
Plans to refresh the seafront with a 50-metre sea-swimming centre and business area have been recently brought forward by five years, meaning the development could be open to the public as early as 2021. The plans include event space, shopfronts, cafes, restaurants and offices, with a revolutionary new Open Water Swimming Centre at the heart of the project.
Madeira Terrace Arches
Madeira Terrace is a Grade-II listed, 865-metre-long stretch of seafront arches. Originally built in the late 1800s, the structure has been degraded by the sea air and, deemed unsafe, closing to the public in 2012. Madeira Terrace is much loved by the local community, with businesses raising more than £460,000 for the restoration of the first three arches. An additional £550,000 has been made available by the council, so a total of 30 arches will be renovated in the near future. It’s expected that Madeira Terrace, when complete, will provide valuable social and business space, re-energising the eastern seafront of Brighton.
Preston Barracks
Preston Barracks has a rich and fascinating past, dating back to 1793. Work is currently underway to bring the site into the 21st century, with a development that will deliver 369 new homes and new student accommodation with 534 bedrooms. The project is expected to create over 1,500 new jobs and inject more than £280 million into the local economy over the next 10 years, partly thanks to the plans for a new University of Brighton Business School and an innovation hub for start-ups and SME businesses.
One of the fastest growing housing markets in the UK, Brighton offers significant opportunities for property investment. The city attracts a wide array of people, including young professionals seeking an alternative to London, and average prices have steadily risen in recent years, with no end in sight. Investors keen to capitalise on high demand and increasing rental returns would be wise to consider the future of Brighton and anticipate how demand is only likely to grow in the years to come.
GRE Assets has a major residential development at Brighton Marina.
