Brighton & Hove City Council has given Legal & General the green light to deliver the first-ever build-to-rent scheme in Brighton, at Longley Industrial Estate.
The development will provide 200 homes and 32,000 sq ft of commercial space, which will go to a single occupier or be used as start-up incubator space.
Buildings will range from three to 18 storeys in height, and the scheme has an estimated end-value of £80m.
Longley Industrial Estate is located 200m from Brighton railway station, between New England Street and Elder Place.
As part of the overall plans, a £746,000 contribution is being made towards the enhancement of the public realm along Elder Place.
Dan Batterton, head of BTR at LGIM Real Assets, said: “The UK needs urban centres that are fit for purpose and can support a creative and sustainable community like Brighton.
“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, while helping to tackle Brighton’s shortage of housing.
L&G acquired the site as its seventh BTR scheme at the start of 2018. It has 11 BTR schemes in operation or development across the UK, delivering 3,700 homes.
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