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27 Nov 2008 - Swindon’s regeneration has taken another significant step forward today with the signing of a multi-million pound property deal which will breathe new life into the town centre.
Muse Developments has signed a formal development agreement to deliver Union Square, a £350 million high quality mixed-use development which will regenerate the heart of Swindon, on a strategic town centre site connecting the railway station and transport hub with the retail area of the town.
Union Square will be a flagship regeneration project for the town centre, providing up to 160,000 sq m of high quality new offices and new homes. It will also help to rejuvenate the town’s leisure opportunities, with new shops, restaurants, cafés and a new hotel, creating a safe and vibrant family friendly area throughout the day and into early evening.
In addition to delivering new buildings, Union Square will include new public realm and facilities to improve the experience of Swindon for local people and visitors alike . These include walkable streets and attractive new open public spaces, a new and improved bus interchange, a new facility for the Primary Care Trust and high quality car parking in a new multi-storey car park.
Following the recent announcement by the Council of plans to extend the retail area of the town centre, Swindon is clearly bucking the current trend of economic gloom. Not only does this reflect the town’s outstanding location, but also its proven strong economic performance.
Cllr Phil Young, Lead Member for Regeneration and Economic Development at Swindon Borough Council said: “The regeneration of Swindon is truly under way. The plans for Union Square are extremely exciting and will go a long way to providing Swindon with the town centre that it deserves. To deliver such a significant regeneration project while the country as a whole is facing a recession is a major achievement for all involved. At the same time, the fact that a national developer like Muse is willing to invest in Swindon tells you a lot about the town and the outstanding opportunities that we have open to us."
Peter James, 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 commented: “This is a very significant development for Swindon and for Muse, offering the opportunity to bring major improvements to the town centre and to the perception of Swindon. Swindon is an economically important town and, as such, should have a vibrant town centre providing new opportunities for business and local people.”
Union Square forms part of The New Swindon Company’s wider regeneration of the town centre, which aims to deliver over one billion pounds of investment in six regeneration zones. Union Square is the largest regeneration zone.
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