St Modwen has put its £100m regeneration of Bognor Regis town centre on hold for three years.
It is due to go to Arun District Council tomorrow to ask permission to delay submitting a planning application for three years after the council and the developer undertook a feasibility study of the development.
The development includes the Regis Centre and Hothampton sites, and will house in total 200,000 sq ft of leisure and retail, 50,000 sq ft of community uses, 30,000 sq ft of offices, 300 homes, as well as public space.
Tim Seddon, London and south-east regional director, St. Modwen, said: ‘The situation in Bognor Regis remains positive as both Arun District Council and St. Modwen seek to preserve their joint vision for the town centre which was enshrined in the development agreement.
'At the end of last year, the council called for a complete review of the proposed regeneration projects for the town and that has now been completed.
‘The subsequent report is to be considered by committee tomorrow which recommends deferring the key target date for the submission of a planning application for a period of three years.
'Both parties expect that by this time the property market and wider economy will be that much stronger than it is today to allow the scheme to be pushed forward. All other terms of the agreement remain unaltered.’