A property expert believes land earmarked for a huge leisure development, near Southend seafront, would be worth four times its current value if it included homes.

The valuation for the Save Southend campaign group, of the Seaway car park off Lucy Road, Southend, was completed by David Dedman, an independent property consultant with 40 years experience.

Businessman Philip Miller, owner of Adventure Island, said: “The Save Southend group are very lucky to have local property expert David Dedman with years of experience valuing property.

“He has voluntarily offered his services to us because he felt so aggrieved the council has undervalued the Seaway car park to the detriment of local taxpayers.”

Echo:

Scathing - Philip Miller

However James Courtenay, councillor responsible for growth said the latest valuation of the site was “pointless”.

He said: “The land is not allocated for housing.

“It has restricted use for leisure.

“This was not a Conservative administration decision or indeed any administration’s decision, but one taken on several occasions by the full council, most latterly in the Southend Central Area Action Plan.

“If we designated the whole borough for housing, there’d be no jobs and nothing for people to do in the town.

“This is perfectly normal.

“Members do not want residential housing on this site.

“The council could get more money if it were residential housing. But this is fine, that’s what we’re all elected to do.”

A former administration’s decision to remove any residential element from the controversial £50million leisure scheme has resulted in its worth being drastically reduced.

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Valuable - the site's price would sky rocket if it had permission for new homes

With its current use as a car park, Mr Dedman values the plot at £5million.

However, with planning permission for Turnstone Estates’ leisure scheme and including properties in Herbert Grove, the site is worth £4.7million according to Mr Dedman – almost £1million more than an estimation by Savills on behalf of the council of £3.8million.

Councillors have questioned the loss of a housing opportunity at a time when there is so much pressure to provide more affordable homes.

Martin Terry, Independent councillor for Thorpe ward said: “The valuation is based on certain council policy.

“Originally there was meant to be housing included on the site.

“The council can make a decision to change the designation of the site but their mission should be to get the best deal for the town.

“If housing was included on the site it would increase the valuation massively.”

Brian Ayling, chairman of the policy and resources committee, last week referred the council to the police and crime commissioner over the decision to refuse to show councillors the unredacted Savills report.

He said: “The council bought the gas works site, which half the size for £7.2million with a further £1.8million spent on decontaminating the site.

“How can Seaway be worth only £3.8million?”

Councillors are angry the Savills valuation, which the council says is financially sensitive, has not been shown to them under part II rules which exclude the public.

Only one councillor, Mr Courtenay, has seen the document.

The policy and resources committee, which had been asked to sanction an extension to the council’s agreement with Turnstone, referred it back to full council over the matter.