Plans revealed for £18.5m revamp

It is hoped work will start in January

A Lincolnshire town is to benefit from an £18.5m development of homes, offices and car parks.

A development company has bought the former Gainsborough Steel site and plans to build more than 100 new homes.

Developers Dransfield Properties have worked with English Heritage and have agreed to rebuild the facade of the former factory in its original style.

New cycle routes and footpaths will be built in and around the site and it is hoped work will start in January 2008.

David Stutting, senior land manager at Stamford Homes, who employed Dransfield to acquire the land, said: "This development will be a milestone in Gainsborough's regeneration.

"The area has traditionally had lower value housing but the redevelopment of Marshall's Yard has seen huge investment and attracted new retailers to the area as well as boosting employment prospects."

Plans have now been submitted to West Lindsey District Council and are awaiting approval.