Regeneration specialist, St Modwen is working as the development partner of Taunton Deane Borough Council to deliver the scheme known as Firepool, which will be located on 16 acres and be developed over 12 years.
The developer will now work up more detailed designs to build around 113,000 sq ft of office space, an hotel and up to 49 apartments as part of the first phase of development for the wider 17 acre riverside site.
Contractor Morgan Sindall has already been on site to convert the town’s former auction hall into a base to steer the Firepool development.
When complete, the development will include 500,000 sq ft of office space, leisure facilities such as cafes, restaurants and a foodstore, a hotel and over 400 homes
Pete Davies, development manager for St. Modwen, said: “This is very positive news for Taunton town centre.
“We are already progressing plans to build the first office building at the site and this announcement shows the Council’s commitment to the development as a major new build office scheme supporting the town and county’s growth.”