Although still in the early stages of design, the green space looks set to occupy an area near the bus station and opposite Time Square in plans to replace the outdoor space lost in the construction of new buildings.

The plans form part of the council’s work to support the on-going regeneration of the town – £12.4m has been earmarked to pay for the park as well as improvements to roads, roundabouts and public information systems.

Cllr Marc Brunel-Walker, executive member for economic development and regeneration, says the park is going to be great for the community.

He said: “It’s not going to be a massive park but it’s going to be a nice, green space in the town.

“It’s going to be a place where the community can come and enjoy the outdoors, eat their lunch, just somewhere pleasant to sit. I think it’s going to be great for Bracknell.” Plans to support the regeneration of the town emerged following the approval of the council budget up until 2017/18 last Wednesday. The work will be co-ordinated with the Bracknell Regeneration Partnership to minimise disruption during the next two years of construction.

Speaking about the regeneration, Cllr Alan Ward, executive member for transformation and finance, said: “I am really glad things are moving forward in the town centre.

“Over my time on the council I have seen many false starts.

“I am well aware that without the perseverance of several members the regeneration may have stalled again. The public will be pleased to see it moving forward.” Councillors approved the budget following a six-week consultation and have now allocated money for projects and schemes up to 2017/18. One of the biggest projects to benefit will be Coral Reef Waterworld which will close at the end of the year for £11.23m worth of refurbishment work.

The temporary closure of the popular attraction was proposed in December so the pool roof can be replaced and the centre completely refurbished.

The controversial Binfield Learning Village will also receive funding as part of the budget.

Plans for the learning village have been the subject of several protests outside Blue Mountain Golf Club and a 2,200-strong petition, ever since councillors voted to remove a covenant on the site which had prevented them from building on the land.

Further money will fund the replacement of the children’s social care ICT system, the creation of new classrooms in some primary schools, and improvements at Bracknell’s cemetery. Funds of £33,000 have also been allocated to the Children, Young People and Learning programme to help meet the demands of the school places plan for the remainder of the 2014/2015 year.