Southend United: Ron Martin steps down from Fossetts Farm firm

Homes England has confirmed that discussions have taken place over the housing element of the Fossetts Farm plan, but no agreement is in place and any deal would be “subject to detailed due diligence”.

The loan was previously described as “absolutely crucial” to the project for a state-of-the-art stadium, a 107-bedroom hotel, and more than a thousand homes, by Southend Council leader Ian Gilbert.

Homes England had been expected to loan the money to Roots Hall Limited, the firm behind the development.

Southend UTD v Oxford, Blues lost 4-0, PIc LM 23/11/2019.Ron Martin.

It comes two weeks after Ron Martin, chairman of the Blues, resigned as director of Roots Hall Limited.

His son Jack remains as director of the company.

Ron Martin, who has been Southend United chairman since 2000, is currently waiting to stand trial after being charged with failing to pay more than £5million in tax.

A spokesperson for Homes England commented: “Whilst Homes England has previously held discussions with the landowner to determine how we could best support the scheme to unlock housing, we have not made a formal commitment.

“Any infrastructure loan or formal offer of infrastructure loan will be subject to detailed due diligence.”

Investment - The Fossetts Farm development

Martin, 68, and former chief executive Geoffrey King, 75, are accused of failing to pay £4,485,000 in Value Added Tax over the sale of land in Cheltenham, Gloucestershire.

The pair are also accused of failing to pay £921,260 of VAT in relation to the sale of land in Thundersley, to the same firm, Redrow Homes PLC.

Southend Council remains hopeful a deal can be struck to ensure the development, which is expected to bring £500million to the town and create more than 1,000 new jobs, goes ahead.

Stepping down - Blues chairman Ron Martin

If plans go ahead, 182 apartments and a range flat blocks to provide a total of 1,114 homes on the site.

Mr Gilbert said: “The council have been in discussions with the club and potential funders and things appear to be progressing positively.”

Planning for the new stadium was approved in February, with proposals for two corners of the stadium to accommodate 182 apartments.

Mr Martin told the Echo the takeover of Roots Hall Limited would have no impact on the plans for the stadium or homes.

He added: “RHL is a single purpose investment company who’s principal administration is conducted by internal accountants and external auditors. The project is being managed by an experienced team of professionals with both development and finance expertise.”

Mr Martin said Homes England is one of a “number of potential financial partners.”