Not much, I know little about the layout at White Cottage.
AFAIK that King Street block is on the council's hit list for redevelopment. Next in line after the Charles St demolition, and the redevelopment planned for the new college on Cookson St. There are no announced plans as yet, but the area bounded by Cookson St, Charles St, Kings St and Milbourne St are on the council shit list. Half of it has already gone. Following that, the block between Milbourne and Church St. That would eliminate the entire Thai triangle, which is what they want.
My guess is that speculators have gone wind of something and have bought the place in the hope of making a buck when the compulsory purchases happen.
Did you notice if W3 was also closed? That and the business supplies shop are all that's left in the block other than a couple of flats on Cookson st
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just found this
External Link/Members Onlyalmost certainly purchased by the council for redevelopment