The leader of Swindon Borough Council has said how pleased he is to see a landmark, which was becoming an eyesore, in the town centre be regenerated.

Falcon House, the seven-storey office block on top of the  Debenhams building facing on to Fleming Way is being turned into flats by  London-based property company, Avivco Developments

The £8m transformation will see the empty building, which has been vacant for years and was looking in a poor state, turned into 65 apartments over the next 18 months.

A spokesman for Swindon Borough Council said the company, which has recently undertaken similar projects at Kingsbridge Point at Regent Circus and in Commercial Road, was attracted to invest in Falcon House due to its prime location, the car parking provision underneath the building, and the regeneration of the local area.

Fleming Way is at the heart of the council’s regeneration of the town centre – with the road being turned into a public transport hub and lowered to allow easier access on foot between the shopping centre and the business district centred on the new Zurich building at Kimmerfields.

Leader of the council David Renard, said: “It is fantastic to see Avivco showing faith in Swindon by investing millions of pounds into a building which has long been described as an eyesore on the town centre skyline. They are a company with a track record of delivering high-quality apartments.

“We know one of the things that attracted Avivco to Falcon House was the ongoing regeneration of the local area, including the transformation of Fleming Way and the work that is taking place at the Kimmerfields site next door to the new Zurich offices.

“This is creating a snowball effect where the uplift caused by the redevelopment is increasing land values and making Swindon a place companies like Avivco want to invest in.

“This is exactly the sort of development we want to encourage in the town centre if we want to see it evolve. The residents who will eventually live in these apartments will want shops, places to eat and leisure activities so it will act as a boost to the local economy, encouraging further investment.

“I look forward to seeing it continue to take shape over the next 18 months.”