A major step forward has been taken in a bid to transform Gravesend town centre, according to the council’s leader.

Cllr David Turner’s (Con) comments came after Gravesham signed a deal with Reef Group which will see the company develop the Heritage Quarter.

It means Reef has now bought the £120m project, which was first mooted more than 15 years ago, from Edinburgh House and will work with the council to deliver new homes, shops, a cinema, restaurants and a hotel.

The development will be spread between an Eastern Quarter, around the borough market, Western Quarter, around St George’s Church, and the St George’s Shopping Centre. It is hoped it will create 1,000 jobs and revitalise Gravesend’s economy.

Cllr Turner said: “By working with Reef Group, we will stabilise and invigorate the retail environment of the St George’s Shopping Centre.

“By modernising and improving the overall look of the centre and developing a specific leisure area with a boutique cinema and a small number of restaurants, we will be creating a new shopping and leisure experience in Gravesend.”

Cllr John Burden, leader of the Labour Group and chairman of the council’s overview and scrutiny committee, said: “I am pleased to see this major deal being signed which will bring significant investment and change to Gravesend town centre. It will revitalise the town centre and opens the door to further opportunities.”

Reef has previously redeveloped the centre’s of Oxford and Gloucester and has worked on a number of high-profile projects in London.

As part of this deal the council has entered into an exclusivity agreement with Reef in relation to Gravesend, which it says will allow Reef “sufficient time to develop its proposal”.

Planning permission for the Western Quarter has expired, while the Eastern Quarter’s will time out next year.