Ex-dome chief buys marina share

Plans for the towers could be reviewed by Mr Gerbeau

The former chief executive of the Millennium Dome is taking a £65m stake in the re-development of Brighton Marina.

Pierre-Yves Gerbeau, who is also known as PY, has signed a shareholding deal with Parkridge Developments - the firm revamping the "concrete jungle".

A spokeswoman for Mr Gerbeau's firm X-Leisure confirmed his involvement in the facelift of the marina.

Plans include 1,500 new homes and 250,000 sqft of commercial space.

'Track record'

Parkridge managing director Philip O' Callaghan, said: "Parkridge bought the retail and leisure elements of the Marina five and a half years ago and has invested £40m in that time, but it felt it needed a partner to go that one step further.

"We have selected a partner which can provide both the financial backing and leisure expertise we need to further transform the Marina into an exhilarating location of international acclaim.

"X-Leisure, which has paid £65m for Parkridge's leasehold interest, will bring its extensive leisure expertise, knowledge and successful track record to the benefit of the existing scheme."

Mr Gerbeau said he was thrilled to have exchanged contracts and said it was one of the most exciting leisure schemes.