Funding deal sees construction start at Circus Street

Grant Prior 7 months ago
Share

Developer U+I Group has secured funding for its delayed Circus Street scheme in Brighton.

The £130m mixed-use project will include 142 new homes, 450 student bedrooms and 30,000 sq. ft. of new office space.

A new public square with restaurants, shops and a dance space will also form part of the development.

U+I said Construction has now begun on the project and the majority of the buildings on site will complete in 2019.  

Henry Construction is the main contractor on the job.

The firm has previously worked with U+I on its Old Vinyl Factory scheme in Hayes.

Richard Upton, Deputy Chief Executive of U+I said: “Securing funding for the Circus Street project is a key milestone and enables construction to begin.

“The development shows how we can create value through our proven planning and regeneration expertise, whilst also delivering significant cultural and socio-economic benefits to the local community.

“Large scale mixed-use Public Private Partnerships are a core aspect of our strategy, enabling us to build a pipeline of regeneration projects that deliver returns in a capital efficient manner.”

Mark Richardson, Head of Delivery at U+I said: “With a combined contract value of over £85m and a GDV of £130m, Circus Street is one of the most significant regeneration projects to be constructed in recent years in Brighton.

“We have been negotiating the build of this complex regeneration project with Henry Construction since the beginning of the year and are excited that construction is now underway.

“We are looking forward to delivering a scheme of high design quality that adds significant value to the city and creates new homes and jobs, as well as a new dance centre for South East dance.”

Latest news

Persimmon chiefs hand back £50m after bonuses outcry

Persimmon bosses waive second instalment of bonuses
9 mins ago

Colas and Volker to exit huge London highways contract

CVU joint venture and TfL agree to part company early on eight-year framework
18 hours ago

Lendlease on board for £4bn London Euston district

Arup and Grimshaw will now work on Euston plans
9 hours ago

Carillion cracked hospital beams remedial work unfinished

Auditors and pension regulator heavily criticised by MPs
18 hours ago

Amey Rail snaps up Carillion rail projects saving 700 jobs

Projects in the East Midlands, London and North West England back on track
1 day ago

Willmott Dixon gets start date for £49m Colston Hall revamp

Work to start in June on major regeneration for Bristol landmark
10 hours ago

Boost your online presence with the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
4 months ago

Betting Spy: England to win the Calcutta Cup

England can cover the handicap in the Six Nations while West Ham have it all to do as usual at Anfield
10 hours ago

Carillion bosses dodge pension black hole

Accounts show one pension scheme was in surplus while the rest had an £800m deficit
1 day ago

Morgan Sindall profits soar as margins restored

Fit-out and construction deliver strong profit growth as 2018 set to be bumper year
1 day ago

Centre Point Tower developer claws back £1m from McAlpine

McAlpine counts cost of row over design and build or construction management route for London tower
1 day ago

Sisk vows to complete joint venture jobs after Lagan collapse

Contractor will complete Highways England schemes on its own
2 days ago

Suspended sentence for scaffolder spotted without harness

Court hears how experienced worker chose to ignore safety rules
1 day ago

Construction slave labour ring smashed in East London

Fifty Eastern European workers saved after exploitation on sites
2 days ago

GRAHAM wins £86m Liverpool build to rent tower

Demolition work to start on waterfront site this month
2 days ago

Interserve to close power lines operation axing over 70 jobs

Power transmission firm to be wound down over next few months
2 days ago

Lagan puts construction arms into administration

Up to 200 jobs at risk as construction and building divisions hit by delays and disputes
3 days ago

Barratt looks to new building methods to boost volumes

Completions creep up by 2% as UK's largest house builder looks to use more offsite construction
2 days ago

BAM counts cost of weaker pound

UK business pre-tax profit slip of 7% to £35m due to exchange rate change
2 days ago

Galliford Try clinches £55m Leamington Spa housing project

Partnerships arm will build 375 homes for Waterloo Housing Group
2 days ago

Green light for London Deutsche Bank HQ

Developer Landsec says construction to continue once substructure is complete next March
2 days ago

Highways England calls bids for £326m Area 10

Hunt starts for maintenance and response contractor in north west
3 days ago

Carillion directors ‘contemptuous’ of pension funding

Carillion trustees alerted watchdog twice over pensions shortfall to no avail
3 days ago

Civils to start on £160m Yorkshire shopping centre

Advanced highways and infrastructure work to start this summer
3 days ago

Liverpool advances £700m Festival Park redevelopment

Willmott Dixon to carry out enabling works around Festival Garden dome base
4 days ago

Consultant Dar to build new Holborn HQ

Hunt on for contractor as Currie & Brown owner plans UK expansion
3 days ago

Another 152 Carillion staff axed taking job toll to 1,141

Staff told to pack up as fresh wave of job cuts unveiled today
4 days ago

Mace lands £350m Stevenage town centre revamp

Council picks winning developer for major town centre regeneration
4 days ago

Construction cartel whistleblowers offered £100k for tip-offs

Competition and Markets Authority targets construction in latest crackdown
4 days ago

Balfour sells another stake in M25 for £42m

Cash will be used to pay down borrowings as sell-off of infrastructure assets continues
4 days ago

Contractor services