Network Rail has regained control of Signal Point, the landmark building at Swindon railway station and it will now be renovated as part of the town's regeneration strategy.
Network Rail took back ownership of Signal Point from leaseholder Narbeth Management which had failed to implement its own plans to upgrade the building.
Network Rail Western route director Mike Gallop said:
"We are excited that we can now start to plan how Signal Point and the land around it can be restored in line with plans that Swindon Borough Council have to regenerate the area.”