Plans for a new 50,000-capacity stadium for Everton Football in Liverpool have been approved by Knowsley Metropolitan Borough Council.

The £120m stadium is to form part of a £400m regeneration scheme, called Destination Kirkby, which will include new retail outlets, restaurants, a hotel and office space.

Leader of Knowsley Council, Cllr Ron Round, said: “This scheme is an amazing opportunity to change the face of Kirkby forever.

“It will create thousands of jobs and other much-needed regeneration benefits, which will still be apparent to its residents and businesses for generations to come.

The outline stadium plans, designed by Barr Construction, include 38 executive boxes and extensive conferencing facilities to improve revenue from non-matchday activities.

The plans will now go before central government where a decision will be made whether or not the scheme should be called in for a public enquiry.

Everton chair, Bill Kenwright, said the decision to move the club from its current Goodison Park stadium wasn’t easy, but one which was made by a vote by its supporters last year.

“Goodison Park has been the home of Everton FC for more than a century,” he said.

The club’s chief executive, Keith Wyness, added: “This is another major step forward for us as a football club as we seek to find a new home.

“The next big step comes in the form of trying to ensure the project is not called in for a public enquiry.”