The Mariners have signed a deal with Castlemore Securities to submit a detailed planning application and oversee the project through to completion.

The new development, located near a key junction on the A180, will have the stadium as its centrepiece.

Grimsby chairman John Fenty said: "The local community is a priority and the development will include new education, sporting and recreational facilities for young people, as well as shops, and a substantial number of new jobs will be created.

"Castlemore has over 35 years of experience in delivering major development schemes like ours and they will be starting work immediately on detailed design and planning."

Managing Director of Castlemore Securities Brad Critcher said: "We expect to be able to make a detailed planning application later this year and, if this is successful, work will begin on site late in 2009."