Standard Life Investments is restarting plans to carry out a major mixed-use development on Brighton’s seafront in Sussex after putting the scheme on hold last year because of adverse market conditions.
The fund manager and Brighton & Hove City Council confirmed they were seeking expressions of interest from property design, architectural and engineering teams through the open European Procurement Procedures to work on the scheme’s development.
The proposals include a significant expansion of Churchill Square Shopping Centre, which is owned by Standard Life Investments, the development of a convention centre and a hotel and other leisure facilities
Standard Life Investments is initially seeking to appoint consultants to work on detailed feasibility studies and expects these to be concluded by the end of this year. Following the studies, the parties will progress with detailed design work and the development of a planning application for the site.
Daniel McHugh, investment director at Standard Life Investments, said: ‘We look forward to working on the proposals which have the potential to deliver a unique development of exceptional quality, transforming this area of Brighton.’
Cllr Mary Mears, leader at Brighton & Hove City Council, said: ‘This development will put Brighton back at the forefront of the international conventions market and secure thousands of jobs. That’s welcome news at this difficult time. Securing such a big investor as Standard Life Investments is a tremendous vote of confidence in the city’s economy and future.
‘We want a beautifully-designed landmark building which performs to the highest environmental and technical specifications. The overall development will radically improve the facilities and appearance of one the most important places in the entire city, creating a beautiful new focal point on the seafront.’