Morgan Sindall regeneration specialist Muse is in partnership with the town council to deliver the mixed-use Stockport Exchange project.

It will include a new 115 bed hotel, a 50,000 sq ft, five-storey office building with ground floor retail space and a new public space outside Stockport train station.

The road layout will also be reconfigured to improve access to the station and provide a dedicated drop-off facility.

Stockport Exchange is planned as a new commercial district and commuter hub created in the heart of the town centre.

The first phase of the scheme – a 1,000 space multi-storey car park operated by NCP – was completed last year and is open to the public.

Wes Erlam, development director at Muse, said: “Appointing a contractor and starting on site for the second phase of Stockport Exchange means we’re one step closer to realising this major new mixed-use development for Stockport.

“It will build on the success of the first phase and deliver a brand new hotel and much-needed, Grade A office accommodation at an excellent location in the town centre.”

John Wilson, managing director of Eric Wright Construction, concluded: “We are delighted to be working with Muse Developments again, a company which we have worked with previously to deliver award-winning schemes.

Completion of the office and hotel is expected in autumn 2016.

Stockport Exchange will ultimately deliver up to 375,000 sq ft of office space and 28,000 sq ft of commercial floor space.

Cushman & Wakefield and CBRE are appointed as joint agents for the scheme.