A REGENERATION scheme which has seen the transformation of derelict buildings into multi-million pound leisure housing and retail development will be wrapped up on Monday.

During its six years, the award-winning Grainger Town Partnership, based in Central Exchange Buildings, Newcastle, has also helped to create 1,500 jobs and 273 businesses, many set up by Newcastle and Northumbria University graduates.

The project was expected to attract £80m of private investment, but when all of the developments are completed the actual figure brought into the city will be nearer £180m.

Grainger Town Partnership chairman Councillor Tony Flynn, said: "Through the hard work of the project team, the business and residents' forum, the historic heart of Newcastle still does great justice to John Dobson and Richard Grainger's vision."

One NorthEast invested more than £36m in Grainger Town. The agency's director of operations, Mark Henderson, said: "One of Grainger Town's most impressive achievements has been its success in getting people back to live in the city centre.

"Through the Living Over the Shops grant scheme in particular, there have been extremely imaginative schemes developed, to create homes at both ends of the property spectrum from affordable houses to rent, up to penthouse suites."

As well as restoring the 240 listed buildings the regeneration has also transformed the public open spaces in the area using traditional materials of Caithness stone and granite to create high quality pedestrian areas around key places such as Grey's Monument.

Some projects, such as the demolition of Westgate House and the installation of the artworks, have been scheduled to take place over the next 12 months.