Legal & General has exchanged contracts to acquire land in the centre of Brighton in order to deliver the city’s first ever Build to Rent development.
This is the seventh UK city in which L&G is to be engaged in Build To Rent.
The site - currently occupied as industrial space - is 200 metres from Brighton train station and subject to planning approval will deliver 200 homes and up to 3,000 square metres of commercial space to support business start-ups and small and medium sized companies.
Legal & General, which is already a major employer in Brighton, now has a Build To Rent platform of almost 2,000 units. It aims to have 6,000 in planning, development or operation by the end of 2019.
It now has sites in Leeds, Bristol, Bath, Walthamstow, Birmingham and Salford as well as Brighton.