U+I is pleased to announce that construction at its mixed-use regeneration scheme, Circus Street in Brighton, has started having secured funding for the delivery of the project with GCP Student Living plc, the UK's first Real Estate Investment Trust focused on student residential accommodation, and Gravis Capital Management Limited.
A public private partnership between U+I and Brighton & Hove City Council, this important £130 million project will see a derelict, former fruit and vegetable market in central Brighton transformed into a thriving new quarter and cultural destination for the city.
The development, designed by leading architects shedkm with TP Bennett, will create over 400 jobs and inject £200 million into the local economy over the next ten years and includes 142 new homes; 450 student bedrooms; 30,000 sq ft of new office space plus workshops offering creative businesses start up accommodation and room to grow.
Central to the Circus Street designs is a new public square, with restaurants and shops targeted at independent businesses, creating an exciting new retail and leisure destination for the city. A state of the art dance space will open onto the square and provide a new home for South East Dance, a leading arts organisation and charity. This facility will provide much needed space for creative projects and performances, adding to Brighton's vibrant cultural and artistic community.
Brighton & Hove City Council has sold part of the site to the University of Brighton for their plans to be brought forward at a later date.
British firm Henry Construction has been appointed as contractor standing out for their emphasis on offering local jobs and apprenticeships for young people on the construction. Henry has previously worked on The Boiler House at the Old Vinyl Factory in Hayes, another of U+I's regeneration projects and has also worked on important London regeneration projects including King's Cross and North Acton.
Richard Upton, Deputy Chief Executive of U+I said: "This is a major milestone for our Circus Street regeneration project and for Brighton at large. This truly mixed-use project will transform a long-overlooked site, creating a vibrant new place and bringing substantial cultural and socio-economic benefits to this creative and energetic city. We are thrilled to be underway with construction, moving closer to fulfilling our ambition to deliver for Brighton a meaningful regeneration project that will revitalise the local area."
Brighton & Hove City Council leader Warren Morgan said: "It is great to see progress continuing on this important scheme in the heart of the city. Many people stand to benefit from the new homes, jobs and business spaces, alongside new community and cultural facilities."
Commenting on the project, Tom Ward, Director of Gravis Capital Management Limited, said:
"We are pleased to have the opportunity to partner with U+I for the delivery of this exciting development which will deliver high quality new homes, purpose-built student accommodation and commercial premises in the heart of Brighton. We look forward to working with U+I to ensure the long-term success of this project and to exploring further opportunities to work together in future"
Piling is currently underway and the majority of the buildings on site will complete in 2019.
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Notes to Editors
About U+I
U+I is a specialist regeneration developer and investor.
With a £6bn portfolio of complex, mixed-use, community-focused regeneration projects including a £200m investment portfolio, we are unlocking urban sites bristling with potential in the London, Manchester and Dublin city regions. We exist to create long-term socioeconomic benefit for the communities in which we work, delivering sustainable returns to our shareholders.
To find out more, visit www.uandiplc.com or follow us @uandiplc
About Shedkm
shedkm is an innovative architectural practice working from London and Liverpool. The practice creates nationally recognised, award winning buildings across all sectors, with a focus on placemaking and urban re-invention. From highly bespoke private houses to complex, multi-million pound regeneration and public realm projects the team produce critically acclaimed, high-quality spaces and architecture, often from limited budgets and with difficult constraints. The studio is adept at the re-use of old buildings, having turned dilapidated Victorian terraces into sleek, spacious homes and redundant factories into iconic work-space and retail destinations. They are also pioneers of innovative construction techniques such as pre-fabrication. Every project is underpinned by a clarity of thought and consistency of approach. Shedkm's work embodies simple yet bold ideas that give places and buildings a unique and strong identity.
