The £250m project is Willmott Dixon’s first mixed use development scheme and signals a strategic move into urban regeneration projects.

Developer Carisbrooke signed an agreement with the local council last Summer to redevelop 5.7 acres of Woking next to the train station with a mix of residential, leisure, commercial and retail space.

Willmott Dixon’s entry brings fresh impetus and significant resource as both developer and contractor to work alongside Carisbrooke in delivering the large-scale project.

Andrew Telfer, chief executive officer of the builder’s regeneration business, said: “Willmott Dixon Developments has a strategic intent to secure further mixed-use developments.

“Woking Gateway has all the essential ingredients to make the project an outstanding success; complementary partners with the combined skill sets to prepare and realise a great design.”

The partners will now develop the original vision into an agreed master plan that can be submitted for planning permission. Low carbon, sustainable buildings are at the centre of design thinking.

Neil Young, Carisbrooke’s director, said: “Teaming up with a large and committed company like Willmott Dixon is great news for Woking Gateway and we hope to finalise the master plan and achieve planning permission within two years.”

The Woking Gateway project site runs from Albion House, which Carisbrooke already own, in the east to Cawsey Way in the west, including the High Street to the south and Commercial Way to the North.

It is anticipated work would commence in 2011 and be carried out in several phases.