Funding deal sees construction start at Circus Street

Grant Prior 4 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

February start for £70m Brentford FC stadium

Buckingham Group set to start work on scaled-down Bees ground in West London
28 mins ago

Developer chosen for trio of Woking towers

Mixed-use specialist Coplan aims to start work on town centre transformation in 2021
33 mins ago

Construction outlook brightens despite output gloom

HS2 awards see record spike in orders figures during the third quarter
3 days ago

Contractors to benefit from prequal red tape cut

Revamp of PAS 91 will help buyers know more about suppliers
3 days ago

Boost your online presence with the new Enquirer Directory

New site for suppliers and buyers will showcase their products, services and latest stories
1 month ago

Berkeley to build modular homes factory

Construction set to start on new plant in Kent as profits continue to soar
3 days ago

Wales switches to project bank accounts

Education and Skills Funding Agency last central agency left to adopt PBAs
4 days ago

Forrest to make apprentices redundant

Shift to using subcontractors puts M&E apprentices at risk
3 days ago

Wolverhampton Uni to rebid £20m construction college

Wates was preferred bidder for the Springfield Brewery built environment college
3 days ago

Liverpool council to set up firm to build 10,000 homes

Foundations housing company will build on council land and refurb vacant stock
3 days ago

Plans for £75m student digs in Oxford

Developer Unite Students buys site for 885-bed scheme
3 days ago

Western Thermal buys Newcastle pipework specialist

Acoustic and insulation specialist doubles workforce to 250 with Henderson Site Services deal
4 days ago

BAM starts two Glasgow primary schools worth £18m

List of Scottish school wins grows with Blairdardie and Carntyne projects
4 days ago

Betting Spy: Bookies pay out on Man City title win

Punters get paid out early while the Manchester derby promises plenty of goals
4 days ago

R G Carter to rescue stalled tower in Ipswich

£20m funding deal agreed for waterfront scheme abandoned in the 2008 crash
4 days ago

Koreans rescue £15bn Moorside nuclear power station plan

West Cumbria project gets back on track but could be delayed by four years
4 days ago

T Clarke North West boss leaves after three months

Contracting head Steve Wallwork parts company with building services specialist
4 days ago

Gleeson housing completions set to jump by 20%

Northern house builder gears up to raise it active sites to 70
4 days ago

Tender race set to begin for £35m Wimbledon site

Clarion Housing Group has ambitious plans to transform Merton
5 days ago

BBC studio firm fined after electrician falls ten metres

Court hears how lack of edge protection left worker with a blood clot to the brain
4 days ago

Morgan Sindall BeMo tie-up wins £20m Tube train depot

Deal signed for 160m long train maintenance facility in West London
5 days ago

Bechtel bags £180m Gatwick Pier 6 expansion

Airport settles on construction management model to deliver complex Pier 6 expansion
5 days ago

Government unveils £600bn of construction work

Update to National Infrastructure and Construction Pipeline and another efficiency drive
5 days ago

Winvic tops contracts league for first time

Move into build-to-rent pays off for country's leading shed builder
5 days ago

Hammerson to buy Intu creating £21bn retail developer

Takeover casts doubt over McAlpine's revamp of Nottingham Broadmarsh centre
5 days ago

Croydon picks seven winners for £300m resi framework

Work to start on at least 30 smaller sites over coming months
5 days ago

BAM gets nod to start £100m Boston Barrier

January start on major tidal barrier project in Lincolnshire
5 days ago

Bouygues regional director joins Stepnell

John Rawlinson joins Stepnell to lead expansion plans in the West Midlands
5 days ago

Aberla lands £6m M&E package at Salford resi towers

Specialist to start this month on latest win from Domis Construction
5 days ago

1 in 5 worker Brexodus threatens 300,000 homes target

House builders nearly twice as reliant on overseas workers than general construction
6 days ago

Contractor services