Increased investment interest in Worthing results in Teville Gate agreement for sale.

 New homes, new businesses and investment in key gateway site - the news of Teville Gate’s agreement for sale could not have come at a better time for Worthing as the town sees a surge in growth and investment interest. 

 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, comments:

“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.”

 James Appleton, Head of Economic Growth at Adur and Worthing Councils comments:

“The Council is keen to see the comprehensive redevelopment of this site to ensure an enhanced pedestrian link between the railway station and the town centre.  In this respect every assistance will be given to the new owners of the site to create a viable and high quality development which will provide a significant boost to the local economy and provide an enhanced gateway into the town centre.”

Teville Gate is the second key regeneration site acquired by developers this year, the first being Union Place which sold in January.  Adur District Council are also in advanced negotiations with a consortium to buy the Adur Civic Centre Site, which will provide new homes and businesses.  

 At this time, it is anticipated that an outline planning application for Teville Gate will be submitted to Worthing Borough Council by the end of 2015.