Cathedral Group has exchanged contracts to bring forward a £150m mixed-use redevelopment at Preston Barracks in Brighton.
Cathedral, which is now part of Development Securities, and the University of Brighton, have agreed to buy the 5.4-acre site from Brighton and Hove council.
A masterplan is progressing for the land, and proposes a 1,316-bed student accommodation development, 350 homes, shops and research facilities.
Matthew Weiner, executive director at Development Securities, said: “The regeneration at Preston Barracks offers the potential to bring forward a redevelopment that, set within a wider mixed-use regeneration project, will transform this part of Brighton, creating a gateway to the north of the city.”
joanna.bourke@estatesgazette.com
