A TOWN centre site due for a major revamp is being given a new name.

The owners of Teville Gate in Worthing are planning to change it to Station Square.

Mosaique has also launched a website to support a public consultation into the future of the development.

The multi-storey car park and the surrounding area in Worthing town centre has been identified as a prime plot for new homes and commercial space.

Demand for parking on the site has been decreasing while running and maintenance costs have risen.

Worthing Borough Council says it would cost £2 million over the next four years to keep the car park open.

Mosaique chief executive Aized Sheikh said: “Renaming the site creates a clear division between what has happened in the past and our vision for an exciting, vibrant and desirable space for living.

“Station Square will become the South Coast’s most desirable residential address on completion in 2020.

“The homes will be suitable for first-time buyers, young families or those looking to settle in a long-term rental apartment.

“Our vision for Station Square is for a community which benefits from places for relaxation, for meeting friends and business partners or somewhere great to eat out.

“These are all supported by the convenience of onsite grocery shopping for those ‘I forgot the list’ essentials.

“We are making significant progress and are looking forward to hearing the community’s reaction to our vision for Station Square at the public consultation events.”

Mosaique intends submitting the full planning application to the council by the end of next month.

The aim is to have it discussed by the planning committee in March.

The public consultation meetings will take place at Worthing College on November 9 from 6pm to 9pm and Worthing town hall on November 10 from 4pm to 8pm.

The website OurStationSquare.com will follow the progress of the development.

Residents or businesses unable to attend either public consultation event can still take part in the through a dedicated page on the website which will be unveiled on November 9.

The £1.6 million cost of demolishing the car park will be met from the local growth fund provided by the Coast to Capital Local Enterprise Partnership.

Adur and Worthing councils have released £60,000 towards consultancy costs and putting up hoardings around the site.