A DEAL to build the next phase of Swindon’s town centre regeneration has been announced to the London Stock Exchange.

Morgan Sindall Plc revealed that Muse Developments has been selected to deliver the £350m Union Square development on land surrounding Fleming Way.

The contract for the project, which is due to be signed at midday today, is part of an agreement with a public sector consortium comprising English Partnerships, South West of England Regional Development Agency and Swindon Council and is one of the largest regeneration schemes in the south west.

Union Square will provide up to 160,000 sq m of high-quality office space and homes, 25 per cent of which will be affordable.

It will also regenerate the town's leisure facilities, providing new shops, restaurants, cafés and a new hotel.

Attractive open public spaces, an improved bus interchange, new facilities for the local Primary Care Trust, and a new multi-storey car park will also make up the development.

Work on the project is scheduled to start in 2010 and is expected to take 10 years.

Paul Smith, Chief Executive of Morgan Sindall plc, said: “Urban regeneration has a key role to play in the future success of our business. Muse Developments is a market leader in the provision of mixed-use, urban regeneration projects and this agreement, which is for one of the largest ever urban regeneration schemes in the South West, is testament to our ability to deliver such projects.”

Full details of the Union Square development will be available on our website later today.