A derelict part of central Brighton is set to undergo a multi-million-pound makeover.
Norwich Union Public Private Partnership, a joint venture between development and PFI specialist Mill Group and Morley Fund Management, is understood to have won the £45m contract to develop Jubilee Street in Brighton town centre.
This is the second major scheme for Brighton after the New England Consortium announced plans for a £100m mixed-use scheme to the east of Brighton station.
The 23,225 sq m (250,000 sq ft) project will include 1,394 sq m (15,000 sq ft) of offices, a 50-room hotel complex, 1,672 sq m (18,000 sq ft) of retail space and 70 loft apartments.
NU PPPs plans focus on a new Covent Garden-type square to provide a venue for events, such as the Brighton Festival. It includes an £11m, 5,017 sq m (54,000 sq ft) library, which forms the PFI element of the scheme, awarded by Brighton & Hove council.
A source close to the contract said: “The council is poised to announce the contract before the new year. The Mill Group/Morley jv has seen off stiff competition from Rotch Property and Bovis Lend Lease. It was key to this project that the chosen developer should deliver an efficient PFI scheme.”
Negotiations are already believed to be taking place between NU PPP and Hotel Du Vin, the niche hotelier part-owned by Gordon and Anita Roddick of Body Shop, for the £8m, four-star hotel.
A detailed planning application for the scheme is due to be submitted next February.
DTZ Debenham Tie Leung, HVS International, Fleury Manico and Morgan Williams advised the jv on the project.
EGi News 16/12/00
