A protected green spot once touted as a potential site for a giant new mosque has been put up for sale at a price of half a million pounds.

Evergreen Field, in Wanstead High Street, was bought by current owners Dalco Developments for a reported £200,000 last May but none of its threatened redevelopment plans have got off the ground.

Dalco boss Dalbir Singh Sanger has previously suggested building a housing estate on the land and also said a potential buyer wanted to build a mosque, a claim he accompanied with an artist's impression.

But Redbridge Council has said that any large-scale development of the site, which is in a conservation area, would contravene its policy on green spaces.

Forest Gate-based firm Marvel Estates is now promoting the 0.5 acre site with an asking price of £499,995 and also briefly this week offered to rent the land for £2,250 per month - although that advert has since been withdrawn.

Dalco's agent Dez Stowe told the Wanstead and Woodford Guardian that the firm was "keeping all options open" and would carefully consider any offers it received for the site. He said Dalco would issue a further statement and clarification tomorrow.

The advertised sale comes two months after residents' group The Wanstead Society secured planning permission for a proposal to open up the land for public use and some small events, despite not owning the site.

Dalco then said it would enter into negotiations with the society over the land's future, but the group's Geoff Horsnell said progress had stalled after the developers said they still wanted to build on half the land.

The Wanstead Society is firmly against any major redevelopment of the site, which it has described as the "Emerald in Our Crown" of the area.

Mr Horsnell said: "I suspect that as the landowners haven't put in a planning application they have now realised they are getting nowhere with what they want to do with the land.

"It doesn't overly surprise me they've done this and it's clear they don't want to lose any money, but arguably £500,000 is quite steep.

"If they sell it to another developer they too will have the same 'problem' because of the restriction on the land put there by the council."

The Guardian is expecting further comment from Dalco and its representatives on Friday.