A DEAL has been struck to give Richmond's old railway station a new lease of life.

Council chiefs have agreed in principle to sign over the building to Richmondshire Building Preservation Trust on a leasehold basis for 999 years.

However, Richmondshire District Council's resources committee has said that it will want to see a business plan first.

And the trust will also have to confirm where it will be getting its funds from.

The council will charge an initial premium of £10,000, and wants another £52,500 from any profits on the building to cover its market value as a leisure facility.

A feasibility study commissioned by the trust last year suggested that realistic uses could include a cinema, auditorium, meeting rooms, micro-brewery, skills training workshops, and a cafe and restaurant.

The Richmond-based based Swaledale Cheese Company is also interested in using some of the space as a visitor centre.

The trust is also hoping to establish a permanent exhibition, reflecting the building's history.

"We believe we have negotiated a more than fair deal that will be of huge benefit to the people of Richmondshire, many of whom we hope will go on to enjoy this wonderful building," said council leader John Blackie.

"Once the £52,500 has been paid, no further charges will be incurred which, trust members inform us will allow future revenue to be channelled into other building restoration projects to be undertaken on behalf of the people of Richmondshire."

Trust chairman Jim Jack saud: "This offer is an ideal way for the trust to assume responsibility for the redevelopment of the building without adding significantly to the total cost of the project. We are more than happy to recommend this as the way forward to our members at our next meeting, in March."

Council chief executive Harry Tabiner said: "We are delighted to see a community group champion the cause of the old station."

It is hoped the agreement will pave the way for major fundraising to begin.

"The local community has been incredibly generous so far," said trust member Donald Cline. "We hope this news will encourage further financial support from both public bodies and private sponsors."