Over its nearly 180 year history, countless deals have been struck on Thetford's Market Place.

Eastern Daily Press: Thetford Market Place, 20th August 1961.Thetford Market Place, 20th August 1961.

But few will have been as important as an agreement over who owns the historic site which has saved a £60,000 taxpayer-funded legal bill.

Breckland Council and Thetford Town Council have been at loggerheads over who owned the site in front of the town's Guildhall for five years.

With no agreement in sight, both councils were bracing themselves for an estimated £30,000 of solicitor's costs each with a Lands Tribunal looming - having already spent around £3,000 each investigating the matter.

The dispute began around 2011 when the town council made a claim on the land following the revelation that it was not registered to anyone.

Their application to the Land Registry was duly accepted.

But once completed, Breckland raised objections.

It looked like the issue had been resolved in 2015, when the town council agreed to a deal which would have seen them lease the car park area of the market from Breckland.

But the district council later pulled out of the deal and continued pursuing legal channels.

Now, the councils said they had ended the dispute in order to work together to achieve 'ambitious and exciting plans for the town'.

In a joint statement, they said: 'Through the Greater Thetford Development Partnership, we're making good headway on developing plans that will see significant growth – including new homes and jobs – for Breckland and its residents. For example, the Thetford Enterprise Park, the A11 technology Corridor and the Kingsfleet Development.

'Neither council wants the legal action relating to Thetford Market Place car park to undermine the positive progress being made through this partnership – or to distract us from our shared priority of helping Thetford and the surrounding area to develop and thrive.

'As a result, both Breckland Council and Thetford Town Council have agreed to withdraw from legal proceedings with immediate effect.'

What do you think of the deal? Let us know by emailing andrew.fitchett@archant.co.uk