Southern Water’s headquarters have been bought for £21m.
Worthing Borough Council said it bought the headquarters in Yeoman Way, Worthing, as “an investment for the future”.
It will bill the water company more than £1million each year for rent for the 6.5-acre site.
Southern Water will be the long-term leaseholder.
The council is using its strategic real estate fund to pay for the purchase. The fund exists to purchase assets that can generate income for the council to pay for services using funds borrowed from the Treasury at low cost.
Councilor Martin McCabe, Worthing’s cabinet member for renewal, said: “Previously the council has used its strategic property fund to generate income by investing in property elsewhere in the country.
“By investing here in Worthing we are able to work with local businesses for mutual benefit. This is part of our commitment to building community wealth by putting local people first.”
https://www.theargus.co.uk/news/23189821.southern-water-headquarters-worthing-bought-21-million/?ref=rss Southern Water’s Worthing headquarters have been bought for £21m