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Penrith New Squares job gets funding lifeline

A regeneration scheme in Cumbria stalled due to funding problems has been handed a £1 million lifeline.

Work on the Penrith New Squares shopping and housing development was stopped in October after the National Australia Bank withdrew its offer of funding.

The Northwest Regional Development Agency is now providing £1 million towards the project.

The investment will enable the first phase of the £77 million development, including the construction of a new stadium and community facility for Penrith AFC, to be completed.