SHOPAHOLICS in Eden may have been fooled into thinking Christmas has come early after a £77million revamp of Penrith was revealed.

Plans for the multi-million-pound facelift - including four new town squares, hundreds of homes, scores of shops, bars and restaurants and a supermarket - were unveiled on Friday.

As well as creating around 950 jobs, Eden District Council and Penrith-based developers Lowther Manelli Properties are hoping the exciting new scheme dubbed "Penrith New Squares" - will encourage shoppers from rural areas like Kirkby Stephen and Appleby to spend closer to home.

Jim Lowther, director of Lowther Manelli, said: "In the last 20 years Penrith has fallen behind places like Carlisle and Kendal as a shopping destination. This scheme will entice more people from the town's catchment area to spend more money here and get passing trade from South Cumbria." He added that if the proposal won planning approval, building could start within 18 months.

A new football stadium and an upgraded country park at Wetheriggs are also proposed and three leading high-street retailers New Look, Next and Mackays have already agreed to take some of the development's key units.

Thirty per cent of the 234 planned flats and houses are to be set aside as affordable' with 20 per cent being for local occupation only and, as well as parking, the scheme's central feature of a new town square could also become a venue for public events, fairs and festivals.

The three other squares would host locally-commissioned sculptures by well known artists.

Joint leader of Eden District Council Coun David Nattrass said the plans were a "milestone" in the economic and infrastructure rejuvenation of the town.

"The impact of developments such as Penrith New Squares and the Penrith Leisure Centre Extension are helping Eden District Council fulfil many of its key priorities by providing affordable housing, the creation of jobs and opportunities to bolster tourism," he said.

The public will be given the opportunity to comment on the plans.