A development in Weymouth that could see around £6m of property development finance being pumped into the town is now awaiting bids to assist with the initiative, it has been advised.

The scheme, designed to be finished in time to host the sailing for the 2012 London Olympics, has already received the support of most of the local residents who have replied to a consultation.

Council officials have urged bidders to come forward so that the September deadline is not missed, and the project not delayed by several months as a result.

“There will be significant benefits in improving the physical appearance and character of Weymouth’s seafront derived from these proposals”, said Colin Ellis, conservation officer.

Seaside towns exhibit considerably higher price growth than other areas of the country, according to a Halifax report published earlier this month, with Brighton currently the UKs most popular buy to let location.