Subject to planning permission being granted for Addlestone town centre regeneration, it is expected work will start on site early 2014.
Construction work in Station Road will take place over two phases and include new shops, flats, a park and a “vibrant” pedestrian street.
Runnymede Council’s Chief Executive, Paul Turrell said: “The proposals put us on the map as something more than just a large supermarket and takeaways.
“The proposals are for a mixed use development bringing retail, business, housing and leisure to the town. Our intention is to involve residents and businesses from the outset to create a town which all generations will be proud of.”
Bouygues Development’s managing director, Nicolas Guerin said: “We are thrilled to be a part of this exciting new prospect for Addlestone.
“There is a genuine lifetime opportunity to create something special in the heart of the town and we believe that time is now. We look forward to working with the Addlestone community and Runnymede Borough Council to bring this new start to fruition.”
Working with Bouygues Development is global architectural, urbanism and design practice Broadway Malyan, with its Weybridge-based team of experts based minutes from the Addlestone town centre site.