Former Shrewsbury Tesco land on sale for £4m

A multi-million pound site in Shrewsbury earmarked for more than 100 homes has been put for sale on the open market after lying vacant for nearly four years.

Earlier this year it was announced the former Tesco site, off Arlington Way, Harlescott, could be sold under a pilot initiative designed to speed up the development of new homes

But Shropshire Council today said this would no long take place and the land was up for sale with an asking price of more than £4 million.

Council chiefs have been considering whether to sell it on the open market or go down the route of a new scheme known as a Public Land Initiative offered by the Homes and Communities Agency.

Under the scheme public land owners make land available on a "deferred payment" basis rather than it be sold to developers.

The land is disposed of through an agreement that takes account of the value of land invested, shared risk and returns, and available grants for social housing.

Council spokesman Gareth Proffitt said: "Earlier this year Shropshire Council made an expression of interest to the Homes and Communities Agency to explore the potential of the Public Land Initiative.

"However, having not received a response from the HCA we have now chosen to market the land through Pooks to determine the level of interest. Offers of over £4 million are being sought."