Hundreds of homes are set to be built in Lowestoft after a preliminary deal was struck over the future of the former Sanyo television site.
Waveney District Council is in advanced negotiations to buy the factory site in School Road and allow 350 homes to be built to help regenerate the harbour area.
Last month Waveney agreed to acquire the 20 acres for residential development, as it had been earmarked by an area action plan in 2011 as a spot where only homes should be built.
The news has angered businessman Peter Colby who wanted to buy it £2.3m so he could set up industrial units to create hundreds of jobs.
Colin Law, leader of Waveney, said the acquisition will help the council better deliver the area action plan and provide a mixture of private and social housing, which will help first time buyers. He added: “The action plan clearly states that the land at the Sanyo site should be for residential use and this purchase and future development will support the considerable business and industrial development generated around this location by the offshore and renewable energy sector.
“It will create even greater confidence in the potential of the area and highlights the significant positive opportunities there are for the town.”
Sanyo closed the factory in February 2009 with the loss of 60 jobs. At its height 350 workers produced 300,000 televisions a year.
A Sanyo spokesman said the deal will ensure the action plan can be implemented in accordance with the plans submitted for public consultation, which received positive support.
Mr Colby who runs Peter Colby Commercials Ltd and hoped to buy the land for industrial units and some homes, said: “My plans would have seen 400 jobs created, jobs that are much needed. I am disappointed for Lowestoft because there will now be now jobs on the Sanyo site. What Lowestoft needs is more jobs, not more homes.”
Mr Colby’s company has complained that councillors at the meeting had not been told about his bid and he had told officials beforehand his plans were more viable.
Bob Blizzard, Labour’s prospective parliamentary candidate for Waveney is supportive of Mr Colby’s cause.
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