But the furniture giant has yet to confirm its specific interest in moving to New Monks Farm, in Lancing.
In a statement, an IKEA spokesman said: “In the ever changing, fast-paced retail environment we want to provide our customers with a more simple, convenient and enjoyable shopping experience both online and in-store.
“As such, we are reviewing our expansion strategy on an ongoing basis. This includes the rebuilding and adaptation of our stores to better serve local customers, developing our multi-channel offer and choosing new IKEA locations.
“We are considering the south coast of Sussex amongst other sites as a potential location for IKEA, however we have nothing to confirm at this point in time.”
Rumours of the furniture giant moving to Lancing have been circulating for months.
New Monk’s Farm’s owners have called for the site to be allocated more commercial space as part of policies in Adur District Council’s local plan.
The site had been earmarked for 600 homes and 10,000 square metres of commercial space.
Under the latest proposal, the commercial space would be increased to 35,000 square metres.