YET another multi-million pound deal has been done to transform Swindon’s town centre.

Muse Developments has signed up to deliver a £350m scheme on land between the station and the town centre.

The development, called Union Square, will include 160,000sq m of offices and homes.

Peter James, the chief executive of the New Swindon Company, said: “We are delighted to announce the completion of a Development Agreement with Muse and the beginning of such a significant regeneration project.

“Swindon is rising above the current economic gloom – the town has absolutely massive potential and this flagship project will help us to reach it.“ Doug Finlay, of Muse, said: “This is a very significant development for Swindon and for Muse.

“Regeneration on the scale of Union Square is an opportunity to bring major improvements to the town centre and will help improve the perception of Swindon.

“It is an economically important town and as such should have a vibrant town centre with walkable streets, providing new opportunities for business and local people.”

The development will include traffic management, a new and improved bus interchange, space for Swindon Primary Care Trust and a new multi-storey car park.

The announcement comes just two months after developer Modus signed up to deliver the Regent Place development.

When complete that scheme will deliver a three-storey Debenhams store and 45 shops, plus a number of restaurants and cafés.

There will also be 170 residential flats and a new 750-space car park.

Ian Piper, the director of sustainable communities at the South West RDA, welcomed this newest scheme.

“Having invested £12m to help piece together the Union Square site from a range of ownerships SWRDA is delighted that the regeneration of this important area can now begin,” he said.

“These investments come at just the right time in the current difficult economic climate to kick-start the town’s regeneration.

“This will help to unlock Swindon’s true business potential.”

David Warburton, the area director for English Partnerships, said: “The signing of this development agreement is really fantastic news for Swindon.

“Revitalising the town centre will provide the high quality sustained regeneration needed to bring the town centre facilities into line with Swindon’s strong economic performance and bring greater benefits to the community.”