Developer Kier Property and Mole Valley District Council in England have entered into a 50:50 joint venture (JV) for the Swan Centre and Bull Hill redevelopment.

The redevelopment of these two strategic sites covers a combined area of 4.1ha and is part of the Transform Leatherhead project.

The Swan Centre and Bull Hill redevelopment will help transform Leatherhead into a modern residential, commercial, retail, and public town centre.

It carries a final anticipated gross development value of approximately £350m.

The mixed-use development will include roughly 450 new housing units, commercial and communal space, as well as improved public areas and better connectivity across the town.

In the following 12 months, the JV will work on master plan development and proposals, with formal stakeholder consultation expected to start in early next year.

This will enable residents and businesses to support the development of the project’s planning application if needed.

Kier Property Group managing director Leigh Thomas said: “We are delighted to have signed the joint venture agreement with Mole Valley District Council to deliver this important regeneration scheme for Leatherhead. 

“Our team has worked extremely hard to collaborate with the council, and we are excited to be entering the next phase in the ‘vision’ to make Leatherhead a distinctive, enterprising, and highly regarded location.

“The success of this joint venture builds on our track record with public and private sector clients including, Network Rail and Watford Borough Council, in helping them regenerate underutilised brownfield sites to create new communities for the future where people work, live and thrive."