Content

That following completion of the necessary
negotiation in relation to the sale of Teville Gate to Homes England and in consultation
with the Cabinet Member for Regeneration, I have given approval to
enter into the legal documentation required to effect legal
completion of the sale of Teville Gate
to Homes England

Reasons for the decision

Following negotiations with Homes England, in
December 2023 Homes England had made an offer of £5.1m for
the unconditional freehold sale for Teville Gate. The Homes England
offer utilises their Brownfield Infrastructure and Land Fund -
making Worthing the first recipient of this intervention in the
South. Homes England anticipated delivering over 250 homes in a
lower density, lower height development which places a significant
emphasis on successful placemaking and delivery.
 
Homes England recognised the strategic
significance of Teville Gate and had signalled its ambition to:
 

·        
drive regeneration and housing delivery to create high-quality
homes and thriving places;

·        
work with partners to support them and enable the delivery of new
homes and housing-led, mixed-use regeneration;

·        
deliver place making and regeneration of the area;

·        
intervene where the market has failed; and

·        
deliver mixed-tenure housing that Worthing needs
 
Under instructions from the Worthing Joint
Strategic Sub-Committee the necessary negotiation has taken place
to complete the sale

Alternative options considered

none