Th building, Anston House, situated on Preston Road in Brighton has been vacant since 1988 but nothing can happen yet as there is confusion over its ownership. The legal owner is said to be Bridgetown Properties by the Land Registry, however due to the recession this year, they are reported to have gone under.
The property was purchased for £10.5 million back in 2007, a record sum per square footage for a commercial property in Brighton.
The money to fund the purchase was put up by Investec, however they are claiming not to own or have any rights to the building.
A spokesperson for Brighton and Hove council commented “As soon as it becomes clear that someone is in a position to develop the site we’ll be actively encouraging them to come up with a plan for a mixed use development.”
Brighton will need to find an extra 20,000 square metres of office space In order to keep up with demand by 2016, Brighton will need to find an extra 20,000 square metres of office space. By utlising this building, it would help to meet the demand.