A £60M plan to create 500 jobs by building a 260,000sq ft retail park in Darlington has been announced.

The proposals would transform the site of the former Torrington plant, on the town's Yarm Road industrial estate.

The park would be made up of a 100,000sq ft store and four smaller units, set out in a U-shape, which would specialise in selling household, DIY and electrical equipment.

Two fast-food drive-in takeaways, a 20,000sq ft garden centre and a builders' yard are also planned, plus parking for 982 vehicles.

In the developer's retail impact survey - submitted in support of the application - it claims the development "will provide to very high standards an attractive and comfortable shopping environment offering a wide range of goods that will be complemented by spacious store layouts".

The closure of the Torrington plant, which made roller bearings for use in mining and construction, was announced in March 2003, only a month after international steel company Timken took over the company. More than 100 jobs were lost.

Timken said the closure was part of an overall manufacturing strategy aimed at making the company more competitive and profitable, and production was moved to Romania.

Commercial Development Projects, of Elland, West Yorkshire, has submitted the outline application to Darlington Borough Council, for consideration by its planning committee.

James Marshall, the company's planner, said it was an exciting opportunity.

"It promises to be massive both in terms of the size of the site and the scale of the plans," he said.

"We really want to help this site move on from the past."

Councillor Ian Haszeldine, who represents the area, welcomed the plans. "I think that bringing such investment to the area will only benefit people in the town, especially with the creation of 500 jobs, which hopefully will be jobs for local people," he said.

The application is expected to go before the council's planning committee early next year.

A council spokeswoman said because of the size of the development, and the implications it would have outside the town and across the region, consultation would also take place with groups, including the North-East Assembly and regional development agency One NorthEast.

Both said they could not comment on the plans before they had looked at them in detail