Content

That the Chief Executive of Adur &
Worthing Borough Councils: shall enter into the following
agreements:-
 

·        
Parcel A: The NCP surface Car Park Surrender Deed

·        
Sale from WBC to Roffey Homes for £2,460,000

·        
Parcel B: Sale of the Former Police Station Site from WBC to Roffey
Homes for £1,097,500

·        
Parcel C: Purchase of High Street Surface car park by WBC from LCR
for £542,500 and contemporaneous Sale of land to Roffey
Homes  - £542,500
 
Total amount = £4,100,000 exclusive of
VAT

Reasons for the decision

The Joint Strategic Committee, at its meeting
on the 14th January 2025, delegated
authority to the Assistant Director for Regenerative Development in
consultation with the Leader of the Council and the Cabinet Member
for Regeneration to:-
 

1.   
Negotiate; finalise and agree the commercial heads of terms for the
proposed Sale Agreement and transfers of the Council’s land
at Union Place to Roffey.
 

2.   
Negotiate and agree the final heads of terms for surrender of the
existing NCP lease
 

3.   
Negotiate and enter into agreements for release of third party rights
 

4.   
Negotiate and agree the final heads of terms for surrender of the
existing NCP lease
 

5.   
Authorise the acquisition of the freehold interest in the High
Street Car Park site
 
These recommendations being subject to the
Assistant Director for Regenerative Development, in consultation
with the Leader and Cabinet Member for Regeneration, being
satisfied that:-
 

A.   
In entering into the legal
documentation, the Council will receive best consideration
reasonably obtainable under s123 Local Government Act 1972 and
 

B.   
Updated procurement and subsidy control advice has been received
and is satisfied that the Council is compliant with these
legislative requirements.
 
The council has now undertaken its due
diligence and is assured that A/B above have been achieved and are
satisfied.
 
The decision is now required to enable the
council to authorise the sales agreement (as set out above for
parcels A, B, C) enabling Roffey Homes Limited to progress with the
development and regeneration of the Union Place key site in the
centre of Worthing to provide 216 new residential apartments.
Providing the council with a capital receipt for the sale of the
Union Place land.

Alternative options considered

A Joint Venture partnership had been
considered with Roffey Homes Limited. However, following the
council’s review of the terms of the proposed agreement. It
was not a viable option for the council to progress which would
have placed significant risk and cost uncertainty on the
council.