The pre-let tenant has pulled out and the preferred developer no longer wants to proceed with the construction of an office complex on derelict farm site on the outskirts of the city.
As a result of the developer’s withdrawal, the Council’s agents approached three of the four previously short listed bidders to confirm if they would still wish to be considered as a potential purchaser. All three stated they would but wanted to re-bid to reflect current market conditions which have been changed somewhat by the turmoil in the financial markets due to the sub-prime mortgages/Northern Rock fiasco.
|The site outlined in red showing proximity to A27|
Two of these bidders were able to provide the requisite financial assurances required by the city council and the results of a selection process will be reported to the council’s policy and resources committee on 27th November.
The site is strategically important because it is one of the city's very few remaining brownfield (previoulsy developed) sites and it is close to the A23/A27 junction which makes it more appealing as a headquarters or major back-office building for a large employer.
Click on the link below for a summary of the city's potential development sites.
Sites for Jobs & Homes in and around Brighton & Hove
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Brighton & Hove City Council
Patcham Court Farm