AT a time when economic development has been stifled by prolonged austerity, the sale of a North-East business park this week should not go unnoticed, because it underlines what can still be achieved when the right people are involved.

Lingfield Point has a special place in the history of Darlington. Built in the late 1940s, Paton and Baldwins made it the largest wool factory in the world.

It became a model business hub, with its huge canteen doubling up as the Beehive Ballroom, where many love affairs were first kindled.

After the wool industry gave way to the Rothmans cigarette factory for a while, Lingfield Point fell into disuse in the 1980s and lay derelict on the outskirts of Darlington until a development company called Marchday bought it .

In the 15 years that have followed – a short space of time in development terms – Lingfield Point has been transformed into one of the region’s most attractive places to do business, and now home of the enormously successful Festival of Thrift.

Respect for local history, the imaginative use of art, and a theme of sustainability have all come together with first-class connectivity and superb office facilities to turn Lingfield Point from an eyesore to a valuable asset for Darlington.

The Marchday team, led by the charismatic John Orchard, deserve great credit for their vision and execution of the regeneration scheme.

A new company – as yet unidentified – are taking over and it is to be hoped that the Lingfield Point ethos will continue. Early indications are that it will, and that is good news for Darlington because the Lingfield Point success story is far from over.

In the meantime, we have no hestitation in thanking Marchday for bringing an important part of Darlington back to life in such a thoughtful and exciting way.