Surrey Heath Borough Council has shortlisted four developers to undertake its proposals to regenerate Camberley town centre.
Countryside, Keir Group, Hub Group and Berkeley Group are in the frame to work on the 5.5-acre site, on the A30 London Road between the high street and Park Street, opposite the Royal Military Academy Sandhurst.
The council plans to make a final decision in late December. It is aiming to create a combination of housing, shops and parking.
Bidders are also being asked to include office space in their proposals, to unlock opportunities to redevelop other sites in the town centre.
The council’s chief executive, Karen Whelan, said: “SHBC is delighted with the outstanding response to the first stage of tendering for our flagship development in Camberley, which is testament to the drive and determination of officers and members to deliver high-quality partners.
“Our vision for Camberley is dynamic and innovative and our shortlisted developers can bring the same qualities to the project.”
SHBC council leader Moira Gibson added: “Developing this area has been a key long-term objective for the council. The site occupies a substantial part of the town centre and the development, once complete, will totally transform and regenerate this area.
“It is a great result for the council to have secured four impressive developers to take forward to the next stage of procurement.”
SHBC has invested £140m into Camberley to date. This includes the acquisition and refurbishment of the Square shopping centre and purchase of Ashwood House, a former office building which is being redeveloped into 116 flats.
Projects to improve the town centre’s car parks are also in the pipeline.
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