Legal & General is to develop a Brighton industrial estate into the town’s first Build To Rent scheme.
The work will go on at the Longley Industrial Estate and it will be Legal & General’s 11th scheme since entering the BTR sector in 2016.
The development will also deliver 3,270 square metres of commercial space, to accommodate either a single occupier or arranged as incubator space to support start-ups and SMEs.
“As a major employer in the area, we are delighted to have received permission to begin developing this scheme, transforming a rare warehouse brownfield site into a vibrant new place whilst helping to tackle Brighton’s shortage of housing” explains Dan Batterton, head of BTR at LGIM Real Assets.
“The UK needs urban centres that are fit for purpose and can support a creative and sustainable community like Brighton. We are pleased to be bringing the BTR concept to the city, demonstrating that renting can be an aspirational choice and supporting the workforce with the quality homes they deserve.”
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More competition for the PRS whilst being squeeze out of the market. Hurray for the MPs
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