Land deals being done as over 8m raised for Sporting Village

Four sites helping to fund the Basildon Sporting Village have been sold, with another under offer.

Land at Cranes Farm Road and Markhams Chase, Basildon has been sold for £7.9m to Bellway Homes plc. Two smaller sites were sold at auction on Friday with another site under offer.

Cllr Tony Ball, leader of the council, says:  "This is excellent news, and we are pleased to have sold 4 sites so quickly after construction has begun on the new Sporting Village. 

We are very pleased with the prices achieved, highlighting that land prices are rising.  We set challenging targets for all of the sites, and we have achieved above what we expected so far.  This bodes well for future sales."

Cranes Farm Road and Markhams Chase both have outline planning permission to provide much needed new housing for the District.  The land at Cranes Farm Road is currently the home of the South Essex Gymnastics Club, who will move to the new Sporting Village in April 2011.

The land at Markhams Chase will become available when the current leisure centre closes once the new Sporting Village opens.

Charlie Hart, Partner at Knight Frank, a property letting agent acting on behalf of the Council said: "The sale of Cranes Farm Road and Markhams Chase is yet another indication of improving market conditions. After seeing very little activity in the preceding 12 months, we have seen activity pick up significantly in the last six weeks.  This gives us an immediate sense of optimism for the future."

On Friday (16^th October), 3 smaller sites went for sale at auction, with 2 being sold above their guide price.

13 Sun Street in Billericay was sold for £115,000, and garages at Rettendon View, Wickford were sold for £318,000.

Cllr Turner, cabinet member for resources, says:

"We are pleased at the results of Friday's auction, with both sites achieving above the guide price.

" It is not yet known what use the prospective purchaser intends for any of the sites once they have been acquired."

These land sales followed news earlier this week that Essex County Council would be contributing up to another £3m to the scheme.

Councillor Stephen Castle, Cabinet Member for the  London 2012 Games said: "Essex County Council is determined to ensure its residents and sporting professionals have the benefit of a world-class sporting facility.

The venue has also been selected as one of the country's pre-games training camps for London 2012 Games and as such we all carry a huge responsibility in ensuring the project is delivered on time, on budget and to a superb standard."

Cllr Tony Ball, Leader of Basildon District Council, says: "We are pleased that Essex County Council continues to show its support to the Basildon Sporting Village both financially and politically. We look forward to continuing our partnership working to help deliver this fantastic facility for the people of Basildon and the wider county.  Additional income from external bodies is welcome as it means that less borrowing will be needed."