A new investor has been found to restart the £36m regeneration of Kirkby town centre in Merseyside after Tesco withdrew plans for a new superstore.
Developers St Modwen have exchanged contracts to buy the land owned by the supermarket, Knowsley Council said.
In January, Tesco announced a series of closures and shelved plans to open 49 new "very large" stores.
The council will work with the developers to expand the shopping area and build homes near the town centre.
Andy Moorhead, leader of Knowsley Council, said St Modwen had a "proven track record of delivering innovative and successful schemes across the country.
"I'm extremely pleased that we have been able to identify a new developer for Kirkby so quickly after the disappointing news that Tesco's national financial problems meant they would not be able to deliver a retail scheme."
- Published13 February 2015
- Published18 March 2011
