Parkway scheme for Standard Life is part of wider town-centre regeneration project

Costain has secured an £80m contract to build a retail-led mixed-use development in Newbury.

The new development, which is expected to be complete in 2010, will form part of an extensive regeneration project for the town centre in west Berkshire.

The contract with Standard Life Investments will involve demolition of existing buildings at the Parkway site before construction begins.

Andrew Wyllie, chief executive of Costain, said: “This contract is further evidence of our targeted strategy delivering important major new contracts, and we are delighted to add Standard Life Investments to our growing list of blue-chip customers.”