A FAMILY of multi-billionaire property magnates are linked to a huge new housing development in Southend - finally paving the way for Blues’ new stadium.

Southend councillors will next week be given a crucial update on plans for the 850 new homes and the long-anticipated Blues’ stadium at Fossetts Farm, off Eastern Avenue.

The council hopes a comprehensive agreement - underpinned with big investors - will finally see the stadium and much-needed new homes built. More homes could also be built there.

A report to the council’s cabinet lifts the lid on the financial arrangements over the blueprint, noting some of the key people involved are linked.

The driving force behind the project is Citizen Housing, set up in 2018, fronted by Jack Martin - son of Blues’ chairman Ron Martin.

Basildon Standard:

Scenic - an impression of the new development

Citizen Housing is a 50/50 joint venture between Lenrose Housing and Allied Commercial Exporters, which is the UK investment vehicle of the property tycoons, the Dellal Family.

In the report, council officials say: “The investment activities of Allied Commercial are supported through the significant, discretionary cash resources made available by the Dellal family trusts.

“The principals of Citizen Housing have collective real estate experience of more than 110 years across residential and commercial sectors and have financed, structured and developed more than 160 real estate transactions with a combined value of over £3.8billion.”

The report reveals Citizen Housing made its initial investment with the regeneration of Roots Hall and Fossetts Farm partly by buying out Sainsbury’s, which had planned a new supermarket on the site.

Basildon Standard:

New - 850 homes are included in the development

The new residential development at Fossetts Farm would include a convenience store and cafe.

Roots Hall will also be redeveloped into 502 new homes for rent, again under an agreement with the council, once the football club has relocated.

All the housing delivered with the council would be for rent, including 30 per cent at affordable rent at or below local housing allowance levels.

The plans are set to go before council in December, and if approved, a start date on the new training ground is eyed for spring next year. Work on the stadium and homes would begin in the summer.

Southend United chairman, Ron Martin, said: “This is the culmination of a great deal of good work over seven months by the council, the club and its partners.

“This announcement represents a beacon of light to guide the club’s future prosperity off the pitch enabling its success on the pitch.

“Life has been tough, over the past two years for the club’s supporters. Hopefully this will add some cheer in knowing we can build a secure long term future and together, with a little more work from us all, continue the re-building on the pitch as soon as possible.”