NEW details have emerged about a £38m plan to revamp Stockton's rundown high street.

However, The Northern Echo can reveal that an extra £2m is needed for the ongoing refurbishment of the oncederelict Globe Theatre, a key project in the renaissance of Stockton town centre.

Stockton Borough Council leaders are confident the extra money for the theatre can be found, and yesterday outlined details of plans to revamp the town centre, where more than a quarter of shops are closed.

The most eye-catching development is the plan for a circular, partially grassed pedestrianised public space with fountains planned for the centre of the High Street, by the town hall.

Other plans include semipermanent tented market stalls either side of the town hall, where 40 specialist markets will be held every year, including international and antique markets to complement and boost the 700-yearold market.

Parking will be allowed in the High Street, and the 1960s High Street building Lindsay House will be demolished to open links to the river, which will be illuminated.

The council is to invest £20m in the scheme, and it was revealed yesterday that £18m in private investment has also been attracted.

It includes £1.5m to refurbish the Castlegate Shopping Centre, £4m for The Globe, the sale of council-owned Gloucester House to an information technology company, creating up to 90 jobs, and a proposed refurbishment of the former Lambton Castle pub, which could become a wine bar and restaurant.

An application to the Heritage Lottery for an extra £2m to refurbish The Globe is expected to be made in the coming weeks.

Company Jomast has already invested £4m into the theatre, which will be the biggest indoor performance space between Tyneside and Leeds.

It is unlikely the theatre will reopen next year as originally planned, The Northern Echo has been told.

Richard Poundford, head of regeneration and economic development at Stockton council, said the fact that retail expert Mary Portas had chosen to support the town as one of 12 out of hundreds of applicants was a testament to what the authority and the newly established town team, made up of individuals, businesses and community groups, were trying to achieve.

He said: “We are not trying to take on Teesside Park or Middlesbrough town centre, but complement them. We are going for markets, arts and events, access to events on the river, our heritage buildings – we have so many unique selling points.”