Plans for a multi-million pound urban village, nicknamed the Cornish Poundbury, have been approved.

The village, which will take shape on a 10-acre derelict site in St Austell, is similar to Prince Charles' Poundbury project in Dorset.

About 140 homes, comprising a mixture of one and two-bedroom flats, and two, three and four-bedroom houses will be built.

A quarter of the units will be affordable housing for rent and shared ownership.

'Urban renaissance'

The urban village, which has now been given planning approval, has been designed by local architects Alan Leather Associates and is backed by the Prince's Foundation.

"This is a great day for the project and is the culmination of months of hard work," said Steve Jackson of The Prince's Foundation.

"This will be a vibrant, mixed-use development which truly reflects the ideals of the government's drive to bring about an urban renaissance in our towns and cities.

"We're confident this will become a landmark project for Cornwall and the South West."