This agreement sets out conditional work to regenerate The Martlets Shopping Centre in Burgess Hill.

Planning consent is already in place to deliver 172 homes on the site, as well as a 102-room hotel and 50,000 sq ft of retail space including a 21,000 sq ft food store.

The JV will be formalised once a series of conditions have been realised including the sale of the residential site which is under offer, and pre-lets of the food store and hotel for which the legal negotiations are well advanced.

It is anticipated that the agreement’s conditionality will be satisfied by the end of March 2026, with construction due to commence summer 2026 and complete in 2028.

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“We have worked with Mid Sussex District Council over the years to deliver a capital light and commercially viable strategy to regenerate The Martlets,” said Allan Lockhart, CEO at NewRiver.

“We look forward to working together to deliver this exciting regeneration project that will create lasting value for the Burgess Hill community and our shareholders.”

Kathryn Hall, CEO at Mid Sussex District Council, added: “This agreement provides the structure for an ambitious joint venture that brings together our respective strengths across public and private partnership.

“We will now focus on satisfying the conditions and we look forward to moving into the next phase of delivering this important regeneration for the Burgess Hill community and wider area which will bring about lasting long-term prosperity.”