Whitbread has agreed terms with the council to acquire the site of a former Aspen House on Regent Street, subject to planning permission.
If approved, the plans would see Whitbread investing in excess of £17m in constructing a brand new hotel over eight storeys, together with a ‘Bar+Block’ steakhouse restaurant on the ground floor.
In addition to regenerating the Aspen House site, the plans could see Whitbread creating approximately 80-85 new year-round jobs within the hotel and restaurant.
Whitbread anticipates starting construction in summer 2020 and for the hotel and restaurant to be opening their doors in autumn 2021.
Paul Smith, acquisition manager at Premier Inn, said: “This is a fantastic opportunity to invest in an excellently-located town centre site and bring a new Premier Inn hotel and restaurant, around 80-85 jobs and some real momentum to the regeneration plans in Swindon.
“We’re pleased to be playing a part and, subject to planning permission, look forward to starting construction on what will be a superb addition to Swindon’s hotel and leisure offer.”
Councillor Dale Heenan, Swindon Borough Council’s cabinet member for the Town Centre, added: “Over the next 12 months, residents and businesses will see a visible difference to the Aspen House site with construction starting on a new Premier Inn hotel and Bar+Block steakhouse.
“This deal has been quietly worked on for nearly a year and is hugely positive news for Swindon. It clearly demonstrates that, step by step, we are making real progress in sorting out the regeneration of our town.”