A scheme that has brought new life to the heart of historic Newcastle-upon-Tyne is preparing to wind down.

The Grainger Town Partnership claims to have brought millions of pounds and 1,000 jobs into the area since it was established in 1997.

It was set up to reverse the decline of the area's streets and buildings planned and built by Richard Grainger in the 1830's and 1840's.

About 40% of buildings in the area are listed as being of historical and architectural importance.

Luxury homes

The scheme was established in 1997 with Newcastle City Council, English Partnership and English Heritage.

Through its work, buildings which have lain empty for years, in Grey Street, Grainger Street and Westgate Road, have been brought back into use as offices, shops and luxury homes.

A report going before Newcastle City councillors on Wednesday says more than a �100m of private investment has been brought in.

The Grainger Town Project will be wound up in March, but its outstanding work will be taken up by a city council panel.