Loan approved for council to buy vacant Bognor Regis sites at Waterloo Square

The recommendation was to borrow £1 million through the Public Works Loan Board to purchase the leasehold interests for the land in Bognor Regis, on top of freehold interests the council already has for the site, to then sell on to developers for private development.

Council officers had advised the council this was an opportunity to make some money back on the site which has lain dormant since the hotel and restaurant burned down in 2016.

Some members expressed frustration at a lack of options presented to the council for the future of the site, with opposition leader Shaun Gunner (Con, Rustington East) previously stating he would like to see the council directly develop the land – especially to expand overnight accommodation available in Arun district.

The purchase will now be negotiated with current leasehold owners B5 Limited by council officers.