Marine Terrace unsold

Contributed by localrags on Sep 22, 2003 - 01:13 AM

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<FONT color=black>Plans to sell off a large section of Folkestone's seafront have hit problems after it failed to attract any buyers at Thursday's  (18 September) auction.

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

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

Shepway District Council had granted the permission 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 which was held in a hotel near Leeds Castle, attracted a crowd of several dozen people.