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U and I lands £70M forward-funding for UK mixed-use project

U and I Group PLC secured £70 million of forward-funding to develop the mixed-use Circus Street property in Brighton, U.K., with partners GCP Student Living Plc and Gravis Capital Management Ltd.

The £130 million regeneration project, which is being conducted in partnership with Brighton and Hove City Council, seeks to revamp the municipal market with 142 new homes, 450 student bedrooms and 30,000 square feet of office space. The development will also include a new public square with restaurants, shops and a dance space.

With construction now underway, the majority of the buildings are slated for completion in 2019.