Plans for a £250m project designed to transform the centre of Telford in Shropshire have been unveiled by Telford and Wrekin Council (TWC) and the Southwater Event Group (SEG).

It is anticipated that the proposals will help to provide the town with a thriving night-time economy centred around a pedestrian high street and including cafés, bars and restaurants, as well as a new public square for events and arts. The project also includes an extension to the SEG-owned Telford International Centre in a bid to attract an additional 200,000 conference visitors each year, while a new leisure hub will also be created, featuring a revamped ice rink, a new leisure pool and a cinema.

Other aspects of the scheme includes two new hotels to provide an additional 450 rooms, four office buildings and a new Learning and Media Centre, as well as a residential development. TWC leader Andrew Eade said: "After many years of talk and false dawns about how Telford town centre could be developed we at last have a scheme that can be delivered. This is no longer something that will remain on paper but something that I am certain people will very soon start to see taking shape.

"These plans will kick-start the wider regeneration of Telford and the borough and make a vibrant and living centre that will support other plans to redevelop the town centre." SEG chief executive Tom Gray added: "This joint development will create a business tourist destination of national stature, which could really help put Telford on the map as well as bringing in excess of £100m annually into the local economy from outside of Shropshire."

Subject to planning approval, the scheme is expected to get underway in autumn 2010.