Modus Properties recently signed a development agreement for Regents Place, a £215m retail-led mixed-use development, in Swindon town centre.

Modus will develop the 349,827 sq ft Regents Place in conjunction with The New Swindon Company (TNSC) and The South West RDA. It will be anchored by a 107,639 sq ft Debenhams store. Upon completion, in autumn 2012, the development will consist of 45 retail units, a selection of restaurants and cafes, a 750-space car park and 170 homes. It is hoped that by broadening the scope of retail units available in the town centre larger national chains will be encouraged to set up stores in Swindon. TNSC believes that Regents Park will become one of the largest regeneration projects in the South West and will link into other schemes within the town.

Peter James, chief executive of TNSC, told PIN: “The signing of this development agreement has given a major boost to regeneration in Swindon, and we are delighted to formally welcome Modus onboard. Considering the current economic climate and the negative impact it is having on regeneration programmes around the UK, announcing the completion of this agreement is a real step forward for Swindon.”