The Port of Dover has signed a deal with a real estate company to develop the town’s waterfront as it presses ahead with plans to build a new cargo terminal.

Bosses say the agreement with London-based Bride Hall, which has developed 5m sq ft of commercial space worth £1 billion, will “take forward key waterfront development opportunities”.

It comes as the port revealed a record number of freight vehicles handled more than £100 billion of goods through its terminals last year.

More than 2.4 million trucks and lorries passed through, with bosses using the figures to throw weight behind plans to revive haulage traffic from the Western Docks.

The port wants to build a new £120 million cargo terminal at the site, creating 600 jobs, in a scheme it is calling the Dover Western Docks Revival.

The company announced the creation of a regeneration division – named Dover Waterfront Limited – which will liaise with Bride Hall under the memorandum of understanding it has signed.

Chief executive Tim Waggott said: “Working together with a major real estate partner such as Bride Hall, who have a great track record of delivering top quality developments throughout the UK, is another sign of how we are transforming a premier UK port for the benefit of the nation, the tourism economy and our community all at the same time.

“Our message is simple. This is really happening and we are moving forward on turning our shared vision into reality.”

Nick Desmond, managing director of Bride Hall Real Estate Partners, said: “The Port of Dover regeneration project reflects one of the most exciting opportunities in the UK to make a significant difference to a strategically important location.

“With our experience in delivering high-quality mixed use development we share our partners vision and enthusiasm for the wider region. “

Dover District Council chief executive Nadeem Aziz said: “This is an exciting announcement for Dover.

“We will be working with the port’s new waterfront regeneration arm and Bride Hall to ensure all of our plans for the regeneration of Dover are coherent, joined up and offer the best opportunity to make a once-in-several-generations difference to our community and Dover as a thriving destination.”