The £150 million redevelopment of Preston Barracks has moved a step closer.
The £150 million redevelopment of Preston Barracks has moved a step closer, with Brighton and Hove City Council exchanging contracts with the University of Brighton and its developers.
The university is working with Cathedral Group Ltd to revamp the council-owned site and its neighbouring university building, with ambitious plans to add accommodation for 1,300 students, 350 new homes - with 20% affordable housing - and 25,000 square foot of retail space.
This week’s signed agreement means the council will sell the freehold of Preston Barracks site to the university, with a lease agreed for Cathedral to develop the site.
It follows an announcement of £7.7 million in new government funding earmarked for the development which comes as part of a wider £17.4 million financial commitment to the university.
Subsequent detailed plans will still require planning permission, but if given the go- ahead the scheme is estimated to create 740 new jobs over the next ten years.
Central to that hope will be a new business centre with cutting-edge facilities to support new high-tech and design-led manufacturing start-up companies.
The university and Cathedral Group are working with award- winning architects Hawkins Brown and Studio Egret West, as well as Brighton-based designers and architects We Like Today.
Professor Julian Crampton, vice-chancellor of the University of Brighton, said: “This is a very exciting proposal for the city and for the University of Brighton – one which will create a permeable and attractive location which generates jobs and economic benefit to the city, and one which will alleviate pressure on the private housing market.”