RESIDENTS in a village near Winchester are being tempted in another multi-million-pound development bonanza.

A developer is offering seven-figure sums for properties in Kings Worthy as it prepares a plot for 110-120 new homes, one of the biggest schemes in the area for years.

It comes soon after the Daily Echo revealed that householders in Chilbolton Avenue in Winchester had been paid about £500,000 for parts of their back gardens.

Now, London-based property company Terra Firma has made 12 offers for sites off Springvale Road, Mount Pleasant and Mortimer Close.

One homeowner who has accepted the offer is John Airey, who has a house worth £750,000 in Mortimer Close.

Mr Airey, a businessman with extensive property interests in Winchester, said: "Terra Firms has offered £1.2m for the whole site, house included, subject to planning permission. It is a similar thing to Chilbolton Avenue. The offer is too good to turn down.

"I'm going to take the money and run. I will buy a couple more houses near Kings' School and rent them out to students.

"Years ago I used to be against infill development but now I think it is better than building new estates such as Barton Farm."

Fergus Cruikshank, managing director of Terra Firma, said: "It is silly money but it still stacks up for developers to offer it. The scheme will cost £15-17m to buy and to build. A developer would look for a 25 per cent profit on those figures."

Mr Cruikshank said he planned to submit a planning application in June.