More than £4 million will be spent to buy a police station site to be turned into housing.

South Bucks District Council is planning to buy the Gerrards Cross Police Station site, in Oxford Road, for £4,222,500 from its capital receipts reserve, and add a further £5.3 million to its capital programme to enable it to be redeveloped for housing.

A planning application will be made once the building has been bought, with a project manager to be appointed to develop the design, planning approval and “business case” for the redevelopment which will see the current police station and ex-police houses knocked down on a “phased basis”.

The council’s capital receipts reserve comes from the sales of land and property assets it has sold in the past.

Council spokesman Viv Saunders said: “Now, the council can make better use of this money for the taxpayer by investing in property which will yield an income from housing rental and give a better return than leaving it in the bank.”