BUSINESSES see a bright future ahead thanks to the £100m culture-led regeneration of Bishop Auckland.

The multi-million pound open air live night show Kynren, which launched earlier this month, the transformation of Auckland Castle and the town’s Market Place, are set to bring in new opportunities.

The Eleven Arches Trust show and Auckland Castle are expected to provide a £20m-a-year economic boost to the town and the wider region.

To prepare for this, many businesses are refurbishing or setting up for the first time in the town.

The Park Head Country Hotel and Restaurant, at New Coundon, has recently undergone a £100,000 refurbishment.

Meanwhile, Tavistock Hospitality has recently invested £360,000 in buying and refurbishing the Toronto Lodge Sonnet 43 Brew Pub, at Toronto, near to Kynren, with plans to spend another £150,000 creating nine boutique bedrooms.

Entrepreneurs encouraged to invest in the town include sisters’ Becci Nye and Alicia Teasdale, who brushed aside initial thoughts to open their 1950s themed tearoom elsewhere in County Durham, after hearing of the far-reaching plans.

Mrs Nye said: “We know there is going to be some disruption while all the work is underway, but we are prepared to ride the storm for a year or two as we believe it is going to be good for Bishop Auckland, that the tourists will come, and that we will get people through the door.”

Claire Gibbons, director of the Park Head Country Hotel and Restaurant, said: “It is no longer just business reps, now we are getting guests who have an interest in history and culture.

Mark Hird, managing director of Tavistock Hospitality, said: “It would be fair to say when we found out about Kynren we were persuaded to invest more heavily in the refurbishment than we would have initially.”

The Auckland Castle Trust-backed Pod business accelerator hub in the Market Place, providing gallery and low-cost studio space, has also allowed more than 50 County Durham artists to showcase and sell their work since it opened in April 2015.

Councillor Ann Golightly, Mayor of Bishop Auckland, said: “An air of optimism has replaced the gloom and depression of the recent recession. There is genuine excitement and positivity around the town in general and particularly the town centre.”

Liz Fisher, Auckland Castle Trust’s operations director, said: “We are all hugely excited by what the future holds. These combined projects are a chance to do something exceptional for Bishop Auckland.