Page last updated at 12:57 GMT, Wednesday, 16 September 2009 13:57 UK

Historic shipyard sold to council

Swan Hunter cranes
Famous ships including the Mauetania were built at the yard

The former Swan Hunter shipyard on Tyneside has been sold in an undisclosed deal.

North Tyneside Council and regional development agency One North East have purchased the 60-acre site in Wallsend from owner Jaap Kroese.

They plan to make the site a key part of redevelopment proposals for a 600-acre stretch of riverside from North Shields to Walker.

It is hoped marine offshore and renewable industries can be attracted.

Swan Hunter closed in 2006 and plans to establish the yard as a breaking business did not come to fruition.

Cultural development

The company built some of the most famous ships of the early 20th Century, including the Mauretania.

David Cramond, director of capital development for One North East, said: "The Swan Hunter site played a hugely significant role in the history of industrial development in the North East and will now be at the heart of a new generation of industries that will drive forward the regional economy for many years to come.

"The former shipyard forms an integral part of the North Bank of the Tyne regeneration strategy."

The wider 15 to 20 year redevelopment blueprint envisages a new ferry-berthing point, some office construction to act as a buffer to protect riverside communities and the expansion of heritage and cultural activities next to Segedunum Roman site.

The North Bank of the Tyne project also involves Newcastle City Council and the Homes and Communities Agency.

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