Muse Development has signed the deal to redevelop three initial sites, comprising the civic centre, former magistrates court and former leisure centre.
The contract also provides for the possible future redevelopment of five further sites, with Muse taking on the role of master developer for the council under a 25-year partnership.
“I’m thrilled that we are forging ahead with these exciting, ambitious, and truly game-changing plans to create a town centre for future generations to live in, work in and enjoy – and I’m also so pleased that Muse, headed up by a passionate Oldhamer, will be our partner,” said Arooj Shah, leader of Oldham Council.