MULTI-MILLION pound plans to kick-start the regeneration of Farnworth — after years of negotiations — will finally be submitted to Bolton Council next month.

Developers St Modwen have announced they will formally apply for permission to build a shopping parade at the Market Precinct next month.

The new development between Brackley Street and King Street will have six new stores - covering to 23,000 sq ft retail space — as well as a first floor gym.

There will also be improvements to the open space including new pavements, benches, bins and trees.

The company bought the precinct in 2011 for £5 million and said investment in the project could be up to £10 million.

Farnworth councillor Noel Spencer said he was hopeful the scheme would be delivered — after similar attempts to regenerate the town centre in the past had come to nothing.

He said: “It’s been a long time coming. This is about the third attempt over the last decade to get a major regeneration project for the area.

“The masterplan is one of the issues that has been at the forefront of the agenda in Farnworth for a good number of years, and to see it coming to fruition is good news.

“Sadly over the last 10 to 15 years we have seen the decline of the market, and we really tried to work with the few remaining stall holders to try and meet some of their problems and aspirations.”

Residents are being invited to share their thoughts on the plans at a public drop-in session at Farnworth Library tomorrow.

As part of the Farnworth Masterplan the market was demolished last year and demountable stalls — temporary stalls which can be put up and down — were re-located onto Brackley Street. The bus station is also undergoing a transformation.

Steven Knowles, development director at St Modwen, said a boost in the economy had made it possible to start work in Farnworth.

He said: “St Modwen’s intention to submit such an application demonstrates the improving economy which in turn is having a positive impact on the commercial property market in the north.

“This much-needed scheme will transform Farnworth town centre, bringing significant investment and job opportunities to the local area.

“Our proposals will deliver an improved retail and leisure offering for the community.”

Council leader Cllr Cliff Morris said the new design would help to bolster businesses in Farnworth.

He said: “This development will transform an area that is in real need of new investment.

“We’ve been working with St Modwen since they acquired the precinct and we’re very pleased that they are going to be submitting a planning application for the first phase.

“The development will deliver new jobs in Farnworth and the expanded and improved retail offer will act as a catalyst for the wider regeneration of the town centre.”

Farnworth resident Reverend Tony Cowell welcomed the news that a planning application would soon be submitted.

The 53-year-old of Harrowby Street said: “Farnworth definitely needs a lot of regeneration work.

“I’ve lived in Farnworth all my life and I know it would be a significant boost. But it’s got to be done for the right reasons, and not for making profit.

“I’d like to see more places where people can shop undercover, where it’s reasonable priced — there is a place for charity shops and we need the, but we don’t want all pound stores and charity shops.

“The good people of Farnworth have been very, very patient. For years we’ve been told something will happen and nothing gets done.

“It’s good to see some money starting to be invested in Farnworth.”

Members of the St Modwen development team will be at the drop-in session at Farnworth Library tomorrow from 2.30pm to 7pm to answer questions and listen to feedback.

St Modwen said display boards of the new plans would also be on show at 48 Brackley Street.