West Dorset District Council and Simons Developments Ltd have signed the development agreement for the Charles Street site.
The lengthy document sets out how both parties will take the project forward and will be used by Simons to negotiate with businesses that may want to trade from the site.
The Charles Street development will provide a mix of shopping, food outlets, housing, public toilets, car parking and improved public transport facilities. The land is currently a car park, but there will be no loss of spaces in the final scheme.
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Simons was chosen by the district council as preferred development partner for the four-acre site last year.
Simons now has exclusive rights to develop the Charles Street site subject to various steps including further consultation with the public and planning permission.
Simons Development Director Mark Lewis, said: “Exchange of this legal agreement is an important milestone on the route to delivering this vital regeneration project. The fact that this complicated agreement has been concluded less than a year after our initial selection is testament to the excellent working relationships which have developed between Simons and West Dorset District Council members and officers.”
(JM)
