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EMC advises on £400m housing scheme

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The local businessman who has been chosen to build a £400m leisure and housing scheme in Hove was advised on the deal by EMC Corporate Finance.

Rob Starr, co-founder of family-run charity The Starr Trust, worked with housebuilder Crest Nicholson to put forward a plan for the long-awaited redevelopment of the ageing King Alfred Centre (pictured)

Their joint proposal was chosen by Brighton & Hove Council ahead of another scheme submitted by French firm Bouygues and is expected to include a leisure centre comprising three swimming pools, a sports hall with space for eight badminton courts, a 120-station gym, a crèche, a gymnastics centre, three-rink indoor bowls, dedicated martial arts dojo, a quiet studio, a sauna and a café.

There will also be 565 flats built in four main blocks, the highest of which would be 18 storeys.

EMC CEO Nik Askaroff, who led his firm’s team advising Rob Starr, said: “This will be one of the most significant and eagerly awaited developments to take place in Brighton & Hove over the next few years and we are delighted to be playing a part in it.

“Being selected by Brighton and Hove City Council as the successful bidder is just the start of the process for our client, Rob Starr, and his joint venture partners Crest Nicholson. Over the next 12 months they will be working closely with the council and the local community to bring their proposals to life.

“If all goes to plan, the development will not only offer the local community a brand new luxury leisure centre but also more than 560 much needed new apartments.”

Detailed plans are expected to be submitted to the local authority within the next 12 months with building work set to begin in the summer of 2017. The sports and leisure complex could be completed within three years with the flats finished by 2022.

The Starr Trust will be a major beneficiary of the scheme. The family formed the charity to help support young people aged 10 –18 to fulfil their potential through sports, arts and education, by giving them a helping hand to achieve their goals at a time when they really need it.

The Trust provides:

  • financial grants up to £5,000 for young people in need living in the BN postcode area
  • training and development of skills
  • connections and mentoring

Valerie Paynter of campaigning group SaveHove said: “I’m cock-a-hoop that the Starr Trust has beaten Bouygues to it. I really respect the Starr Trust and I want them to have this income stream.” 




Author:EMC

Source:http://www.emcltd.co.uk/news/emc-advises-businessman-on-%C2%A3400m-leisure-and-housing-scheme