Muse Developments was handed the prestigious ‘Property Deal of the Year’ Award last week at the South West Business Insider’s annual property awards ceremony for its work with The New Swindon Company and Swindon Borough Council.
Presented to the company for its multi-million pound Development Agreement to deliver Union Square in Swindon, the award signalled the single biggest property deal to have been completed in the South West over the last 12 months.
Almost a year ago to the day, Muse Developments signed a formal Development Agreement with Swindon Borough Council and The New Swindon Company to deliver Union Square, a £350 million high quality mixed-use scheme which will regenerate the heart of Swindon. The strategic town centre site connects the railway station and transport hub with the retail area of the town.
Speaking at the awards ceremony, Doug Finlay of Muse Developments commented: “We are absolutely delighted to have won this award. This deal was a very significant one for Swindon and for Muse. Regeneration on the scale of Union Square is an opportunity to bring major improvements to the town centre, and it will significantly improve people’s perception. I’m really pleased all of our hard work on this project has been rewarded.”
Councillor Phil Young, Lead Member for Regeneration, at Swindon Borough Council, said: “The plans for Union Square are really exciting. To stay on track with delivering such a significant regeneration project while the country has been going through a recession is a major achievement for all involved and we are delighted this effort has been recognised by those working in the property industry.”
Chris Hitchings, Director of Development at The New Swindon Company, added: “This is a great accolade for Swindon. It has been a tough year in the property market and to be able to keep moving forward with our plans for Union Square has been a huge success for us. The market seems to be picking up and Swindon is rising above the economic gloom – the town has absolutely massive potential and this flagship project will help us to reach it.”
Union Square will provide up to 160,000 sq m of high quality new offices and state-of-the-art accommodation. It will also help to rejuvenate the town’s leisure opportunities, providing new shops, restaurants, cafes and a new hotel, creating a safe and vibrant family friendly area.
Phase one of the project, which is due to begin on site in summer 2010, will include a new and improved bus interchange, a new facility for the Primary Care Trust and a new high quality multi-storey car park.
