PLANS have been unveiled to build a new town surrounding Lakeside Shopping Centre - while Arena Essex Raceway has announced its closure.

The project, put forward by London Strategic Land, will see 2,500 homes and a new school built as Lakeside becomes the town centre of a new town.

The homes are being proposed to the north of Lakeside, where stock car and speedway racing track Arena Essex currently resides.

Arena Essex published a statement on its website on Wednesday, confirming that this year, its 40th, would be its last.

The proposal, named Beyond Lakeside, which has not been submitted as a planning application as developer's attempt to gain feedback, will include a community hub, new sports facilities and a lido, as well as homes and a school - to be named Woodlands.

A spokesman for London Strategic Land said: "London Strategic Land is planning a vibrant new community to the north of Lakeside Shopping Centre.

"The plans for our land which is to the north of Lakeside include new sports and community facilities, a new school, and open space, as part of a mixed-use development which will start the transformation of Lakeside from a Shopping Centre into a Town Centre."

Arena Essex's announcement to close did not mention the proposed redevelopment of the Lakeside area, but it appears that the Purfleet site is a major part of the plans.

A spokesman for Arena Essex stated "financial difficulties" had proved a major factor, with the final event set to take place on November 4.

In a statement posted on Arena Essex's Facebook page by landlord Lesley Wootten, said: “Our 40th celebration year has been challenging to say the least and with deep sadness we regret to announce it will be our last.

"Contending with our great British weather with the first two months of the season seeing both opening events for the Rolling Thunder Show and King of the Ring events being cancelled due to freezing weather conditions and our own season opener being held in minus 11 degrees followed by a cold and miserable Easter weekend didn’t make for a great start to the year.

"The Lakeside Hammers on a continuing downward spiral in terms of spectator support as well as having meetings cancelled not just due to weather conditions but ongoing issues with the BSPA to contend with also heavily impacted the Raceway’s income.

"The above along with the amount of investment needed to just maintain the stadium plus the continued increasing costs for compliance, insurance and health and safety has led to the Raceway no longer being financially sustainable and therefore with great sadness and a heavy heart we have to advise 2018 will be the last racing season for the Woodroffe family.

"The final event to be run bringing Arena Essex Raceway’s gates to a close will be on Sunday 4th November with the 27th Firecracker.

"The family would like to thank all those who have supported us over the last 41 years, drivers, spectators, site hirers, sponsors, suppliers, concession holders and not least our hardworking an dedicated Arena Essex Team.

"Join us in our final three months in celebration of the last 40 years."