18th Mar 2015 07:53
LONDON (Alliance News) - Development Securities PLC Wednesday said it has bought its partner, McLaren Property, out of the joint venture that owns the Circus Street regeneration project in Brighton for GBP4.0 million.
The two companies each had a 50% stake in the joint venture.
The project aims to transform a derelict fruit and vegetable market in a prime location in Brighton into a comprehensive mixed-use regeneration project comprising residential units, student accomodation, office space, and new facilities for the University of Brighton. It was given resolution to grant planning consent last September.
"The delivery strategy for the various elements of the scheme is now being progressed with construction anticipated to start on site later this year," Development Securities said.
By Steve McGrath; [email protected]; @stevemcgrath1
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
DSC.L