The £300m Chesterfield Waterside development is a massive regeneration scheme that promises to transform the run-down River Rother corridor into a modern and vibrant urban village.

Chesterfield Borough Council's planning committee approved the 60-acre scheme — which will become home to around 2,000 people and a thriving business community — at Monday's planning meeting, completing many months of negotiations.

Council leader, Cllr Ray Russell, said: "The Chesterfield Waterside development will be a tremendous boost for our local economy and general landscape.

"It will completely transform a long-derelict area of the town into a modern, vibrant and attractive place to live, work and socialise."

The project is being led by Urbo — the regeneration arm of leading local businesses Bolsterstone PLC and Arnold Laver Group, working in partnership with the borough council.

It is hoped construction work will begin next year with a final completion date, though not definite, thought to be in around ten years.

Peter Swallow, chairman of the Waterside Partnership, said that the scheme's approval is "a significant milestone" for Chesterfield.

"The Waterside scheme will play a key part in the area's 'modern awakening'," he said. "Now we can turn the thriving and exciting new place which is the vision of the Masterplan, into a reality."

Chesterfield Waterside will run from the former Tesco site, up to and including the Trebor Bassett site, with the River Rother and Chesterfield Canal at its heart.