Investec concede un finanziamento da £35 mn a First Base & Patron Capital per un mixed-use development nel centro di Brighton, UK

Investec Structured Property Finance  announces that it has agreed to provide mixed‐use developer First Base and Patron Capital, the pan-European investor focused on property-backed investments, with an £35 million, 3-year loan, to fund the speculative development of a commercial scheme in Brighton that is set to transform the city centre.

The Edward Street Quarter project will see the £120 million redevelopment of the former AMEX House in Brighton city centre. As well as 110,000 sq ft of Grade-A workspace for Brighton’s burgeoning creative and media sectors, including a significant coworking element, there will be 40,000 sq ft of leisure space and 168 new homes, a mixture of for sale and Build-to-Rent.

McLaren Construction, with whom Investec has worked with on a number of previous developments, will be responsible for the construction phase, with the scheme expected to complete by Autumn 2021.

The Brighton office market was one of the UK’s top performing regional markets in 2019, characterised by a lack of good quality development and strong employment forecast. The Brighton residential market is also expected to see strong capital growth in the medium term, driven by high demand.

Source : Joint  release