BRiCS Development has purchased the 4.7-acre Earnley Concourse site in Chichester, which has outline planning consent for 30 new build homes.
The SME developer intends to deliver a mix of three-, four- and five-bedroom homes on the site, which previously operated as a conference centre and wedding venue and has been vacant since 2011.
The project, which has a total development cost of circa £19m, has been financed in partnership with social impact investor Housing Growth Partnership. A senior debt facility was provided by Paragon Bank.
Andrew North, land and development director at BRiCS, said: “This site is an important acquisition for BRiCS and our growth journey. With a design team led by John Pardy Architects, we intend to deliver a bespoke scheme of a high design quality tailored to its village location and landscape, in this popular and picturesque location. The existing buildings have been in a poor state of repair for some time, so our scheme will revitalise a brownfield site, and create a highly attractive place for people to live.”
BRiCS will be submitting a detailed reserved matters application for the site later this year, with the aim of commencing construction in 2025.
