The proposal for the first wave of development covers 12 sites, totalling 11 acres within the town centre, and is part of the five-year exclusivity deal between TCN UK and Rotherham Council.

Work on the project is set to begin towards the end of 2008, with completion of all sites expected in 2013.

The masterplan, which is set to be submitted soon to planners, includes relocating several scattered council offices from the Civic Building, Crinoline House and Bailey House site, to a combined Civic Quarter on the historic riverside site of the former Guest & Chrimes company.

Plans are in place to redevelop the newly redundant sites, along with the adjacent Drummond Street car park, into quality leisure and retail facilities.

TCN UK also plans to include a 26-acre re-development of parts of Forge Island with the creation of a Cultural Quarter, boasting a museum, arts centre, library, restaurants, bars, a theatre and retail facilities.

Stephen Holme, a director of TCN UK, said: "These plans are ambitious, but very achievable, with a great deal of thought having gone into their drafting. The town centre offers so much potential, and we want to do it justice.

"We've taken into account the council's public consultation exercise that has been ongoing since 2002, and believe that what we are proposing will prove very popular with the town's residents and businesses.

"If given the final go-ahead, these proposals will breathe new life into the town centre, making it a very attractive and vibrant place to work, live, shop and spend leisure time."

The exclusivity deal means that the council considers the plans put forward by TCN UK to be feasible, and largely workable, and that both parties will work together to ensure they are delivered.

It also ensures that the proposed plans submitted by TCN UK cannot be jeopardised as the council will not consider unsolicited proposals by other third parties.

As part of a separate project, TCN UK is also developing the 285-acre Waterfront development, in the Dearne Valley, which will include 471 lakeside homes and apartments, a Marstons pub, an SAS Radisson Park Inn hotel, private retirement village, retail facilities and a nine-hole golf course and driving range, plus a new business park, which has recently received planning approval.

The development company, which has regional offices established in the South-West, South-East and North-East, has established a track record
in assisting local authorities with progressive regeneration plans.

UK-based projects include a £100m mixed-use scheme in the South West.