Addleshaw Goddard has advised Brighton University on its latest expansion with the acquisition of the Preston Barracks site in Lewes Road, Brighton.
The site, which will be developed in a joint venture with Cathedral, will form the core of the university’s £150m redevelopment master plan, which covers three adjacent sites and will provide new employment space, academic buildings, student accommodation with 1,300 bedrooms, 350 new homes and 25,000ft² (2,323m²) of retail space.
The news follows the government’s announcement on 7 July that it intends to inject £7.7m into the barracks development as part of a £17.4m investment in Brighton University research and buildings.
The Addleshaw Goddard team was led by partner Peter Hardy with support from Gary Sector and Kathryn Green.
The complex arrangement will see the council selling the freehold of the Preston Barracks site to the university, which will come with a lease agreed for Cathedral to develop the Barracks site, and also land already owned by the university next door, the car park of the adjacent Watts Building and the Mithras House car park opposite.
Preston Barracks itself will be the site for 350 housing units, 20 per cent of which will be affordable homes, 500 student bedrooms, a Central Research Laboratory (CRL) and a health centre.
The Mithras House car park site will be turned into new academic buildings and 552 student bedrooms, alongside a small amount for retail.
The Watts Building car park has space for future academic expansion, plus retail, and 264 student bedrooms.
The employment-led scheme, supported by Brighton and Hove Council, will create 740 new jobs over a 10-year period, and has at is centre the 55,000ft² CRL, a business incubation centre and facility that will support new high-tech and design-led manufacturing start-up companies and entrepreneurs.
The agreement plans for the scheme can be worked on in more detail, which will be concluded subject to planning permission and the partners meeting agreed conditions.