A MULTI-MILLION pound deal to regenerate a run-down North-East town has finally been signed.

It means that the scheme to revamp the heart of Thornaby Town Centre will finally become a reality after years of planning.

Thornfield Properties will invest more than £15m into the town, near Stockton, to replace shops mainly in Appleby and Brus House.

A 350-space car park is also planned for the town and it is hoped the weekly market will continue to trade in the refurbished Town Square, which will become the main entrance to the area's shopping centre.

Thornaby's 1960s style shopping centre has been awaiting a decision on its fate for almost six years.

Dickinson Dees, the legal group acting for Stockton Borough Council, has been working on the proposals since 1998.

Ian Ward, head of property at Dickinson Dees, said the vacant tower blocks would be destroyed and a 9,000 square metre retail terrace created, complete with security cameras.

Mr Ward said: "We have been pleased to work with Stockton council on this exciting and complex project.

"It is pleasing that things are finally coming to fruition after six years hard work."

David Johnson, land and property manager from Stockton Borough Council, said: "We are confident that Thornfield will deliver a shopping centre the town can be proud of."

Work is due to start on the site later this year.