[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 18 September, 2003, 19:37 GMT 20:37 UK
Seafront building auction fails
Marine Crescent
Permission is in place to turn the building into hundreds of flats
Plans to sell off a large section of Folkestone's seafront in an auction have failed.

The owners of Marine Crescent were trying to sell the run-down building for 2.25m.

But the bidding on Thursday failed to reach the reserve price.

Planning permission has already been granted to turn the landmark building into flats.

Shepway District Council had approved plans, and was so keen for redevelopment to take place it had offered a financial sweetener to potential buyers.

Councillors had agreed to waive a fee of 3,000 per flat normally charged on new developments to pay for the provision of school places.

The auction was held in a hotel near Leeds Castle but nobody bid the required 2.25m.




SEE ALSO:
Folkestone Harbour for sale
22 Apr 03  |  Kent
Seaside stories: Folkestone
14 Aug 01  |  UK News


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific