Mystery buyer for Teville Gate

Mystery buyer for Teville Gate

 

Worthing Borough Council announced today (Tuesday April 28th) Teville Gate has been acquired by developers from the Official Receiver but their name will not be released until June.

While full details of any scheme for Teville Gate will be subject to a full and rigorous public consultation process, early indications are that the developers, purchasing the site from the Official Receiver, are seeking a mixed use development incorporating residential units above a wide range of commercial uses.

Scott Marshall, Director for the Economy at Adur and Worthing Councils said: “This is a significant day for the town and for the wider Borough. Teville Gate has been high on our priority investment opportunity list, and I’m delighted to see a viable opportunity coming forward for a vibrant mixed use development in a key gateway location. It’s encouraging news after such a long delay that the Official Receiver has reached an agreement for sale.

“As soon as the finer details of the sale are negotiated, we will release the name of the site’s new owners and issue a joint statement, which we anticipate being available in early June.”

Reacting to the news Bob Smytherman, Liberal Democrat Parliamentary Candidate for East Worthing & Shoreham and Worthing Borough Councillor said: “It’s fantastic news that after 20 years that it looks like Worthing is close to having this prime gateway site being redeveloped.  However having been on the Council since 2002 I have heard a number of these announcements before – usually just before an election!  Therefore I will wait until June for the joint statement to be issued before I get too excited.”

Teville Gate is the second key regeneration site acquired by developers this year, the first being Union Place which sold in January.

It is anticipated an outline planning application for Teville Gate will be submitted to Worthing Borough Council by the end of 2015.

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