Cheshire West and Chester Council have earmarked the area around Chester Central station for redevelopment.
The Muse deal is for the first two phases of the business district and will involve construction of two six-storey office buildings totalling 150,000 square feet.
A planning application will be submitted in early 2012 with construction set to start in 2013 and the whole 500,000 sq ft development taking ten years to build.
Paul Smith, Chief Executive of Morgan Sindall Group said: “We are delighted to have secured this regeneration scheme for what is set to be an exciting development for Chester.
“Regeneration schemes of this sort offer great potential for the Group in the medium-term and represent exciting opportunities to further expand our regeneration activities.”