The developer will work on the transformation of one of the five key sites in the billion-pound town centre masterplan.

Stephen Young, director of place at Bolton Council, made the announcement at an event at MIPIM 2018 in Cannes hosted by Channel 4’s George Clarke.

Plans for Church Wharf include a new residential neighbourhood with hundreds of new homes, new public spaces and a new pedestrian route along the River Croal.

Phil Mayall, director at Muse Developments, said: “We are excited to work on a scheme that has so much potential.

“Bolton is a forward-thinking council that wants to bring real change to the town.

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“We have been tracking the project for a long time, so it will be great to begin to get the wheels in motion.

“However, we are at the start of a long journey – at this stage all options will be analysed and considered, and we will be working closely with the council to get the plans right for the town. 

“Local residents, businesses and stakeholders will also be consulted as proposals emerge.”

Muse will now develop a scheme in line with the council’s masterplan, which includes proposals to create 1,800 new homes, 7,400 new jobs and generate £412m worth of economic activity over five sites.

Muse is expected to submit a planning application for a scheme by the end of the year