Legal & General has been granted planning permission to develop the Longley Industrial Estate into Brighton’s first Build to Rent (BTR) scheme.
The project will feature more than 200 homes for elective renters, as part of a wider strategy to address the local housing shortage.
Located between New England Street and Elder Place, 200 metres from Brighton train station, the development will also deliver 3,270sqm of commercial space, to accommodate either a single occupier or arranged as incubator space to support start-ups and SMEs.
As part of the overall plans, a £746,000 contribution is being made towards the enhancement of the public realm along Elder Place.
Legal & General, which entered the BTR sector in 2016, now has 11 schemes in operation or development across the UK, delivering 3,700 homes.
Dan Batterton, head of BTR at LGIM Real Assets, said: “Brighton is an ever growing city where people want to live and work. As a major employer in the area, we are delighted to have received permission to begin developing this scheme, transforming a rare warehouse brownfield site into a vibrant new place whilst helping to tackle Brighton’s shortage of housing.
“The UK needs urban centres that are fit for purpose and can support a creative and sustainable community like Brighton.
“We are pleased to be bringing the BTR concept to the city, demonstrating that renting can be an aspirational choice and supporting the workforce with the quality homes they deserve.”
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Wounder if they will rent to the DSS ?
Wonder whether these idiot BTR operators have factored into their business model a Labour Govt!?
They must surely be aware that Labour has stated that it would introduce a rent control policy.
If I was considering investing in any BTR the last thing I would wish to hear is that the income mught be restricted by a Labour Govt.
I simply would not invest in such a BTR scheme.
These BTR operators must have really effective crystal balls to determine BTR is a viable business model as they must be the ONLY ones who know for certain that Labour WON'T ever attain power!!!
Anytime there is the possibility of a business being restricted in income growth by a future Govt must make investing in such a business questionable.
The threat of a Labour Govt has never been more present.
LL and investors generally should be drawing up plans to protect their resources from a wealth stealing future Labour Govt.
Many are now choosing to fly their capital out of the UK until they are certain a Labour Govt WON'T attain power.
Capital flight is something Labour have already announced they will do everything to prevent if they attain power.
But if this situation unfortunately occurs most of the clever money will already be safely ensconced away from the clutches of what would be the FIRST Marxist Chancellor.
Only the dumb money will remain in the UK ready to be robbed by the Marxist Labour Chancellor.
Make no mistake Labour will come for private LL in all guises.
If LL think it has been a bit rough with the Tories you ain't seen nothing yet.
Just wait until the Chancellor gets his grasping and greedy tax claws into your business.
By the time he has finished with private LL they will have been very effectively asset stripped.
Time to sell up and hide the profits away in cash from prying eyes.
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