A MULTI-million pound deal has been struck to introduce new owners to a business park home to some of the region's largest employers.

Darlington's Lingfield Point has been sold for £44m after last changing hands in 2014.

Real estate investment managers, Frogmore, purchased Lingfield Point on behalf of an investment fund taking on the business park currently a base to 51 businesses, including the Student Loans Company and Capita.

Previous owners Clearbell acquired the 85-acre site for £23.7m, developing the area to mix warehousing and commercial premises with a café and child care nursery.

Dominic Moore, Clearbell's head of asset management, said: “The business community in the North-East is thriving and Lingfield Point is perfectly positioned to benefit from this buzz.

“As businesses continue to demand more from their offices, Lingfield Point is ushering in a new generation of modern workspaces. We’re proud to have been involved in the development of such a historic site.”

The site off the A66 was originally home to Paton and Baldwins, the world’s largest wool company.