Mountgrange Capital – owner of City Park - has announced that it is appointing Costain Plc to construct two new buildings, with a contract value of approximately £20 million at the City Park site in Hove.
Mountgrange acquired the former Alliance & Leicester site in May 2004 and these two new buildings will account for a further 120,000 square feet of premium office space, making the City Park site the largest office development planned on the south coast for 15 years.
The first 80,000 square feet building on the site was completed in the autumn of 2004. It is already generating significant interest amongst several large potential tenants. The two new buildings will add substantially to the attraction of the site to major companies with its easy accessibility to London, the M25 and Gatwick airport.
The new work, consisting of two buildings of 66,000 square feet and 54,000 square feet respectively, will take place in two phases. Both new buildings will be completed by spring 2006.
Manish Chande, Chief Executive of Mountgrange said: “City Park has the potential to be the most prestigious new development built on the South Coast for many years. It will provide tenants with the highest quality working environment on a scale which few, if any, can match in the region. With a trend towards decentralisation, we believe City Park will be attractive to tenants requiring scale for a new and different commercial location.”
Jeremy Eavis, Regional Director of Costain said: “We are delighted to be working in partnership with Mountgrange to deliver this second phase at City Park. This represents another key milestone in the continued growth of Costain and builds further on our long established and proven track record in the commercial office sector.”
The Brighton & Hove Economic Partnership will be holding its next meeting at City Park One on 12th April 2005. Any enquiries about the site should be directed to Martin Clarke on 01273 321216
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