Lend Lease beat rival developers Land Securities and Queensberry to take the North Street development with designs for a new shopping, leisure and housing area.

There would also be a 500-space car park and a new bus station.

The recommendation to move ahead with Lend Lease’s plans will be considered by the council’s executive on 18 April.

Cllr James Palmer, lead councillor for Town Centre Planning and Transport, said: “We received high quality, detailed bids from the short-listed developers. All three demonstrate an innovative approach to the future of this key town centre site. We are particularly impressed by the enthusiasm and understanding for this project shown by Lend Lease.”

“Our evaluation panel carefully reviewed the bids and considered the valuable feedback from local residents, businesses and groups, including the stakeholder engagement event in December.

“We are determined to bring forward a successful development to help support Guildford’s thriving economy now and into the future.”