A MULTI-MILLION pound regeneration project could deliver almost a thousand rental homes and new jobs.

Plans have been made to build 860 homes as well as 10,000 ft - about a quarter of an acre - for shared business spaces at Sackville Trading Estate in Hove, costing £220 million.

The joint venture scheme from Moda and Apache Capital to develop the ‘”build to rent village.

The scheme is promising landscaped gardens and a new square, with pedestrian access to Hove station

Brighton & Hove is the latest city to benefit from Britain’s growing rental revolution with a new £220m built-to-rent project being planned by Moda, an owner and operator of private rented housing, and joint venture partner Apache Capital, the private real estate investment management firm.

Andrew Derry, Development Director at scheme partner ?LaSalle Investment Management, said: “This is an excellent opportunity for the viable redevelopment of a site that we have been assembling and looking to redevelop for over ten years.

“We anticipate that this will provide high-quality housing for the local area in this well-connected community where developments of this nature are desperately needed. We are delighted to be working with Moda, Apache and Brighton and Hove Borough Council to realise this exciting regeneration opportunity.”

The developers for the nine acre site are promising a “garden community that is integrated into and mirrors the feel of the surrounding area, with a mix of low- and mid-rise buildings wrapped in large areas of landscaped green space and public realm as well as new recreation and employment opportunities”

LaSalle Investment Management selected Moda and Apache as the specialist delivery partner “given their long-term commitment to creating high quality fully managed build to rent communities”.

Phase one of the project is likely to consist 600 Build to Rent homes and 10,000sqft of co-working space.

The proposed buildings - some benefitting from sea views - will be arranged around a series of “naturally landscaped pathways, with a main boulevard leading residents and locals alike to extensive landscaped areas including a large new public square as well as a potential new pedestrian access directly into Hove station”.

Tony Brooks, Managing Director at Moda, said: “The design and layout, together with the amenity and service offering, will set a new standard for rental living in Brighton & Hove. This new development will be perfect for the changing, evermore flexible lives people lead today, and will allow residents to live, work, shop and play in a community where they feel connected to the whole place not just their individual homes.”

Richard Jackson, Co-Founder and Managing Director of Apache Capital Partners, said:

“This transformational scheme in Brighton & Hove is one of the leading build-to-rent schemes on the South Coast and the 10th site to be secured by Apache Capital and Moda. This acquisition takes our JV pipeline to over 6,000 apartments, making us one of the largest build-to-rent platforms in the UK.

Brighton & Hove has seen considerable population and economic growth in recent years and this landmark site is a great fit for Apache Capital’s strategy of continuing to focus on intergenerational real estate investments in great, prime locations in UK cities where there is a significant and growing supply/demand imbalance for high quality private rented housing. We’re building great homes and communities that people aspire to live in.”

Andrew Derry, Development Director at ?LaSalle Investment Management: “This is an excellent opportunity for the viable redevelopment of a site that we have been assembling and looking to redevelop for over ten years. We anticipate that this will provide high-quality housing for the local area in this well-connected community where developments of this nature are desperately needed. We are delighted to be working with Moda, Apache and Brighton & Hove Borough Council to realise this exciting regeneration opportunity.”

A previous application across part of the site for a retail-led scheme comprising over 13,000 m2 (c. 140,000 ft2) of retail floorspace and 562 car parking space was granted approval in March 2010, but a drop in the market for retail space made the scheme unviable.

Residents will have the opportunity to comment on early design proposals in September.