Legal & General has exchanged contracts to acquire land in the centre of Brighton for the city’s first ever Build to Rent (BTR) development. This latest acquisition represents Legal & General’s seventh UK city to offer BTR homes.

Just 200 metres from Brighton train station, subject to planning approval, the space – currently commercial – will deliver 200 homes and 3,000 sq m of commercial space arranged to support start-ups and SMEs. This plan offers the same employment ratio as now and delivers a third of Brighton’s annual housing target.

Dan Batterton, BTR Fund Manager at LGIM Real Assets, said, “Brighton is a vibrant city where people want to live and work. This acquisition represents a rare opportunity to acquire land in an unrivalled location and to deliver the first institutional-grade BTR scheme.”