Patcham Place has been sold on a 125-year lease to Kingspan, the Brighton-based waste management and recycling company.

Kingspan was chosen as the successful bidder by Brighton and Hove City Council, who decided to dispose of the imposing Grade 2* listed building off London Road after it had lay empty since 2007.

Patcham Place had been occupied by the Youth Hostel Association for nearly 70 years until October 2007 and since then had been considered as a headquarters for the South Downs National Park.

However, after failure to find a new occupier it was agreed by the council in June 2011 to market the building with the capital raised being re-invested in the council’s capital and value for money programmes.

Kingspan’s proposal, which is to restore the building and use it to house its own offices as well as creating space for small and medium enterprises, won the support of the councillors at a council meeting earlier this month, although the terms of the sale have remained confidential.

Council leader Bill Randall said: “This is a great opportunity for a successful local company to expand their office accommodation and provide space to support other growing businesses, including apprenticeship schemes and social enterprises.

“The new facilities will be designed to fit in with and complement the surroundings.

Patcham Place has been empty since 2007

“Patcham Place is a familiar landmark as you come into the city and now it will be sensitively restored and brought back into use.”

The green spaces around Patcham Place will remain open for public use and the council insists external development will be designed to encourage and protect local wildlife.