Airport boosts interest in Pru block

Plans to convert the empty Prudential Insurance building, just off the High Street, have been languishing since the economy ground to a halt three years ago.

But enquiries about the Sixties building, which has a £7.2million price tag, have reportedly shot up after Southend Airport’s £100million expansion and the start of work on a new £27million library nearby.

Mike Gray, managing director of estate agent Dedman Gray, said: “We have received some detailed interest from investors wishing to consider the complete refurbishment of the building.

“There is a real prospect of it being the next town centre building to be refurbished to new standards.”

The building’s owner, Squarestone, secured planning permission to convert it into a hotel in 2009.

At the time, Premier Inn had been lined up to run the new business, which was also to include a bar, restaurant and three floors of offices available for rent.

However, the plans collapsed and the building has been on the market ever since.

Mr Gray said the expansion of the airport, which started easyJet flights to nine overseas destinations this month, had rejevunated interest in Southend from major investors.

Southend Council hopes to build new business parks around the airport and encourage more firms to move to the town as a result.

It has also ploughed £12.5million into a new library on the site of the Farringdon car park, which is next to the old Prudential building.

The University of Essex and South Essex College will stump up the rest of the cash for the development, which also includes a new public square.

Any buyer of the Prudential site would also benefit from the building’s two High Street shops.

Top Shop and JD Sports both pay six-figure annual rents.

Mr Gray said: “The regeneration of the area around what was the Farringdon car park, together with the expansion of the airport, have really increased the interest in this site over the past 12 months.”