Swindon Council has shortlisted four developers for one of the largest residential regeneration schemes in the UK.

The four developers are now a step closer to buying 460 acres of land at Wichelstowe in Wiltshire for a £1bn sustainable community development.

The shortlist is:

· Orion Land and Leisure, Skanska and LXB3

· St Modwen

· Bloor Homes

· Vinci and Grainger Trust

The scheme will consist of 3,500 homes as well as offices, schools and public spaces.

The four developers will now submit tenders, and the council is due to make a decision by the end of July.

Knight Frank and George Tatton are advising.