Town hall chiefs have accepted a bid for land previously used for social housing in South Tyneside.
Members of South Tyneside Council’s cabinet voted in favour of plans to sell the site at Farding Square, in Marsden, South Shields, yesterday.
As the decision was made behind closed doors, the public will have to wait until an application for planning permission is made to find out more.
A South Tyneside Council spokeswoman said: “Cabinet accepted a recommendation to dispose of the land at Farding Square for residential development to the preferred third party bidder.
“We expect the successful bidder will be submitting a formal planning application for redevelopment of the site upon completion of the sale.
“As the report is commercially sensitive, we are unable to provide any further details at this time.”
Last year, land agent GVA began marketing the 3.73-acres site in ‘prime sought after coastal location’ and invited sealed bids to be submitted by potential developers.
This also cited guidelines requiring 25 per cent affordable housing, of which 70 per cent should be set at affordable rent and 30 per cent as shared ownership.
It is thought six low-rise blocks which housed the 72 two and three-bedroom flats which occupied the site before being demolished would have needed about £7m to bring them up to modern standards.
James Harrison , Local Democracy Reporting Service