A SCOTTISH property company is hoping to breathe new life into Farnworth town centre.

Edinburgh-based Ediston Properties has bought the lease on Farnworth precinct from the Halladale Group for an undisclosed sum and hopes to start work on the second phase of the centre's multi-million pound revamp 'as quickly as possible'.

Halladale, the previous owners, bought the 23 stalls in Farnworth precinct and 12 adjoining shops on Brackley Street in 2003, in a deal worth more than £4.2 million.

In the first phase of the work, vacant units were demolished and replaced by three shops on Brackley Street and four new kiosks within the open square of the precinct.

But the revamp appeared to have ground to a halt as discussions went on behind the scenes for the sale of the lease

It is hoped the development will revitalise Farnworth's declining shopping economy and lure more high street names into the town.

Development manager for Ediston Properties, Andy McKinlay, said: "It is still early days but a design team has been appointed to assess the options for the refurbishment and the potential extension of the centre.

"We're coming to it with a fresh pair of eyes, but I don't think the plans will be radically different from what's been previously suggested.

"We'll be consulting with the public and the local authority because that's the way we do business.

"We decided to take on the lease because we could see the area had a lot of potential. It's well let with most of the units occupied and part of the project will involve increasing the size of the units to attract more national retailers.

"We're eager to start development as quickly as possible."

Farnworth Councillor James Lord said: "Ediston has promised to take over phase two of the development.

"This is good news for the town and I'm very pleased. When you see the development half completed you get a bit down-hearted, but hopefully work will start later this year."