Whitbread and Swindon Borough Council have agreed a deal which could see the development of a new £17m, 197-bedroom Premier Inn hotel.
Whitbread has agreed terms with the council to acquire the site of the former Aspen House on Regent Street, subject to planning permission. An application is anticipated to be submitted later this month.
If approved, Whitbread is set to construct an eight-storey hotel with the brand's Bar+Block steakhouse restaurant on the ground floor. The group anticipates starting construction in summer 2020 and for the hotel and restaurant to be open in autumn 2021. The opening would create approximately 80-85 year-round jobs within the hotel and restaurant.
Paul Smith, acquisition manager at Premier Inn, said: "This is a fantastic opportunity to invest in an excellently located town centre site and bring a new Premier Inn hotel and restaurant, around 80-85 jobs and some real momentum to the regeneration plans in Swindon. We're pleased to be playing a part and, subject to planning permission, look forward to starting construction on what will be a superb addition to Swindon's hotel and leisure offer."
Councillor Dale Heenan, Swindon Borough Council's cabinet member for the town centre, said: "This deal has been quietly worked on for nearly a year and is hugely positive news for Swindon. It clearly demonstrates that, step by step, we are making real progress in sorting out the regeneration of our town."
Whitbread was advised on the deal by planning consultancy Turley.