Contracts have been agreed for the sale of the two-acre former Amex House site in Edward Street, Brighton for an undisclosed sum.
The buyer is a joint venture that includes First Base, the company which plans to build 229 homes on the site of the derelict Anston House office block opposite Preston Park.
The other joint venture partner in the Amex deal is Patron Capital, described as a “pan-European institutional investor focused on property-backed investments”.
The demolition of Amex House – known as the Wedding Cake – is almost complete on the site which fronts Edward Street and John Street, Brighton.
The two firms said: “First Base and Patron Capital are proposing a vibrant new mixed-use development which will help to revive this area of Brighton.
“First Base will now kick off a detailed stakeholder engagement programme meeting local residents, businesses, the council and interested parties to develop a scheme that responds to local need and ambition.
“Since 2013 American Express has been operating from its newly built state-of-the-art 1 John Street office, adjacent to the former Amex House building.”
First Base is working with housing association Hyde on the mixed-use Anston House scheme.
The London firm is run by Elliot Lipton while partner firm Patron Capital boasts of a fund backing of more than £3 billion.
