New life could be breathed into a rundown part of Basildon town centre if ambitious plans for a seven-storey block of flats and shops are approved.

Developers want to create a "landmark gateway" tower block leading to the main shopping area of the town.

Foxstone Estates snapped up the landin Southernhay, Basildon, for just £79,000 and hope to build 24 flats, complete with a parade of ground-floor shops.

The firm's bosses bought the grassland, opposite the fire station, last November when the Government's regeneration agency, English Partnerships, sold a string of small sites across the district at auction in London.

Foxstone director Ron Hopkins said: "We see this as a long-term vision in line with the aspirations of the local authority under the Basildon town centre masterplan.

"It would regenerate this end of Southernhay providing a walk-in entrance to the Eastgate Centre. Hopefully the planning committee will agree and the plans come to fruition."

The developer also hopes to suspend a hi-tech advertising hoarding from the building over the pedestrian area welcoming shoppers to Basildon.

However, Basildon Council leader Malcolm Buckley today warned landowners and potential developers they may be jumping the gun by submitting proposals.

He is concerned because the council is currently trying to get one firm to take on the whole £900million scheme, which went out to tender across Europe last week.

Mr Buckley said: "The masterplan will be carried out by one developer or a consortium who may contract out other firms for certain aspects.

"This will ensure the whole plan is completed and not carried out in a piecemeal fashion with less profitable areas not being completed.

"If smaller developers are putting in applications now they will be considered on their own merits, but may not be in line with the whole vision.

"I strongly advise anyone considering putting in plans to wait at least a year until we know more about who will carry out the work."

The masterplan aims to create around 3,000 new homes, revitalise the station area, create a night-time economy and demolish and rebuild the Basildon Centre and Towngate Theatre in a new location.