Swindon Borough Council have announced that Falcon House will be revamped and turned into luxury apartments over the next 18 months.
A derelict and decaying former office block in Swindon’s town centre is said to be undergoing a Phoenix-like renaissance thanks to ongoing work to rejuvenate the local area.
The council says Falcon House, which sits atop the former Debenhams store just off Fleming Way, is benefitting from an £8m transformation.
London-based property company, Avivco Developments, is in the process of turning the former office block into 65 luxury apartments over the next 18 months.
This will see the current concrete block replaced with a modern, glass exterior as can be seen by the image included with this article.
Avivco, which has recently undertaken similar projects at Kingsbridge Point at Regent Circus and in Commercial Road, was attracted to invest in Falcon House due to its prime location, the car parking provision underneath the building, and the regeneration of the local area.
People can find out more about the plans to kick-start regeneration in Swindon town centre via the council's website at www.swindon.gov.uk/towncentreregeneration
Leader of Swindon Borough Council, Cllr David Renard, said: “It is fantastic to see Avivco showing faith in Swindon by investing millions of pounds into a building which has long been described as an eyesore on the town centre skyline. They are a company with a track record of delivering high quality apartments.
“We know one of the things that attracted Avivco to Falcon House was the ongoing regeneration of the local area, including the transformation of Fleming Way and the work that is taking place at the Kimmerfields site next door to the new Zurich offices.
“This is creating a snowball effect where the uplift caused by the redevelopment is increasing land values and making Swindon a place companies like Avivco want to invest in.
“This is exactly the sort of development we want to encourage in the town centre if we want to see it evolve. The residents who will eventually live in these apartments will want shops, places to eat and leisure activities so it will act as a boost to the local economy, encouraging further investment.
“I look forward to seeing it continue to take shape over the next 18 months.”