NewRiver REIT has exchanged conditional contracts for the pre-sale of the residential element of its mixed-use regeneration of Burgess Hill town centre in West Sussex.
Delph Property Group has agreed to purchase all 142 residential units for £34m.
NewRiver also exchanged on a lease agreement with Mid Sussex District Council for a new headlease of the 123,000 sq ft Martlets shopping centre, which will allow construction to begin immediately.
The redevelopment of the 123,000 sq ft Martlets shopping centre in Burgess Hill will also provide a 10-screen multiplex cinema, a 63-bedroom hotel, an improved retail offer and new restaurant and leisure provisions.
Additional car park spaces, improved public realm and a new purpose-built library for the council will also be provided.
The retail and leisure element of the scheme is already 50% prelet, with occupiers including Cineworld, Nandos, Next, Travelodge and Wildwood.
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