Published: 19th Aug 2019

Crest Nicholson has blamed ‘uncertain times’ for its decision to withdraw from a £50m project to transform a 1.8-hectare seafront site in Hove. The company has been working with Brighton and Hove City Council since 2016 after winning a bid to redevelop the King Alfred leisure centre. The original plans included replacing the ageing leisure centre with improved, extended and modern sports facilities and 565 new homes on the site. A total of £23m of public money – £15m from the Housing Infrastructure Fund (HIF) and £8m from the council – was approved to assist the developer with the scheme. The interim chief executive of Crest Nicholson, Chris Tinker said it had ‘reluctantly’ come to the conclusion that ‘the ambition of the scheme in these uncertain times is too great’ and that ‘the project is simply unable to deliver the required social and physical outputs given the related costs and … (To read the full article, subscribe below)