Building work to move Basildon Market could begin this year in a “once-in-a-generation” opportunity, say the people behind the scheme.

South Essex College, Basildon Council and Basildon Town Centre Management spoke about their vision for regenerating the struggling town centre.

They say the £39million project can be entirely funded by selling the college’s current Basildon campus to developers who want to build 725 homes on land off Dry Street.

But the housing scheme only has outline planning permission and is subject to a legal challenge.

College chief executive Anthony McGarel said a lack of public funding meant building a new campus was entirely dependent on selling its existing site.

He said: “There is no capital funding from the Government and no £30million cheque for a new college.

“This is a once-in-a-generation opportunity.”

The new campus, on the current market site, would allow the college to offer Alevel courses for the first time.

South Essex College’s new town centre campus is expected to be ready in 2018.

A £5million scheme to move the market to St Martin’s Square, allowing building work on the new college to start, will begin before the end of the year.

The town centre management group has commissioned architects to create “realistic” graphic proposals for revamping the town.

Director Ian Bond said: “We are keen to give Basildon a feeling of connectivity.”

Basildon Council chief executive Bala Mahendran said an idea to bring houses into the town centre could be explored during later phases of the project.

A report on the regeneration project will be presented to Basildon Council’s cabinet this spring and it is hoped the public consultation process will start later this year.