A ‘WORLD class’ development combining businesses and residential uses is planned for Worthing’s Teville Gate, its buyer has revealed this morning.
The firm completed the purchase on Friday and plans a public consultation in the autumn. The sale was announced in April.
Chairman of Mosaic Global Investments Limited Jawad Sheikh said: “Teville Gate provides a fantastic opportunity for redevelopment and the ongoing regeneration of Worthing.
“We are committed to this project and in delivering a world class provision for business and residents. To enable this, Mosaic has appointed a large specialist team, with significant experience in urban regeneration, led by the award-winning architects CZWG.”
Mosaic is a newly-formed company, formed by those with experience in hotel, retail and education developments.
Architects CZWG have worked on projects including the Arsenal masterplan, a regeneration project surrounding the Emirates Stadium.
Mr Sheikh is confident a planning application will be submitted by the end of the year and said the team ‘looked forward’ to meeting residents to understand their ambitions for the run-down site.
Daniel Humphreys, leader of Worthing Borough Council, said: “I am really pleased that Teville Gate has finally been sold and we can now work closely with Mosaic Global Investments Limited to develop this site as quickly as possible.
“As an important gateway into the town centre, it is vital that it is redeveloped sympathetically, providing a mix of residential, leisure and commercial uses to enhance the approach into the town.
“The fact that Worthing has started to attract this high calibre of interest and investment is very encouraging going forward.”
For a timeline of Teville Gate’s recent history, click here