A PRIME piece of land is going on the market for development and is expected to fetch several million pounds.

Gateshead Council is selling land between the Sage music centre and the Baltic art gallery.

The authority has yet to announce plans for the site, which is used as a temporary car park, but property experts are speculating it will be used for leisure facilities and hotel accommodation.

The development is another part of the jigsaw in the massive redevelopment of Gateshead Quayside, which the authority hopes will start the regeneration of the town centre.

David Johnson, a partner at property consultants Gerald Eve, in Newcastle, said: "The main interest must be that it is sold under one plan because it is a key site. There must be a masterplan.

"If different developers do different things, then so be it, but it must be cohesive and the council has to ensure that it is controlled, and that is what it will be seeking."

A Gateshead Council spokesman said the search for developers will start next month.

He said: "We are still pre-paring a brief for developers explaining what Gateshead Council might like to see developed on this site, and this should be ready in the new year."