A STEAM locomotive whose boiler is laid forlornly outside Swindon's Great Western Designer Outlet Village, at Churchward, is to receive a new lease of life.

It has has been bought by Bury engineer Ian Riley who plans to spend up to £750,000 rebuilding the rusting remains of Shaw Savill.

Once completed it will operate with steam train operating company, Riley and Son (Railways) based in Lancashire.

The company's managing director, Mike Devine, who will operate the locomotive once the restoration is complete, said: "We are one of the country's foremost steam locomotive engineering firms. We are rather like Swindon was years ago but on a smaller scale."

"This will be a very long and challenging project, and we are expecting the project to take three or four years to complete. It is largely complete with the wheels, boiler. The only thing missing is the tender, for which much design work has been undertaken."

During its rebuilding the locomotive will receive air braking, a modern Train Protection and Warning System and be provided with a new 10,000 gallon tender carriage to carry water and coal.

Once complete the locomotive will be put to good use on the East Lancashire Railway and on main-line tracks for use in special charters across the country.

Mr Devine added: "There are a number of Merchant Navy class locomotives running across the country, but many people never thought Shaw Savill would be restored after it went on display in Swindon."

Shaw Savill is one of around 130 engines built in the Merchant Navy class. They were the largest steam locomotives to grace British railway lines, often used on prestige Golden Arrow services to the South Coast.

The locomotive was designed by Oliver Bulleid and was the primary power for the main express passenger trains in the Southern Region. The engines were capable of speeds of around 100 mph but that will be limited to around 75mph for use on main line tracks.

It was built in Eastleigh near Southampton in June 1942. During its career with British Rail, Shaw Savill covered around 1.1 million miles and last steamed around 40 years ago.

Fleet cutbacks forced the retirement of 35009 in September 1964 and it was stored at a scrapyard at Barry in South Wales.

Following two previous failed attempts to restore the engine it was bought by US-based steam enthusiast Richard Stone. He planned to restore the engine, but did not have the funds to complete the job, and the engine has remained stored in Swindon for more than 10 years.

Steve Atkins, managing director of Churchward-based train restorers Heritage Engineering, who has carried out limited work on the wheels of Shaw Savill, was pleased the locomotive would soon be steaming again.

He said: "This is a huge locomotive it weighs more than 100 tons.

"There was never the money to complete such an extensive rebuild before so I am pleased that Mr Riley has come in to save the engine."

Tim Bryan, acting general manager of the Steam museum was enthusiastic about the restoration.

He said: "This is a very exciting restoration, there are many engines in this state across the country. I feel that, Mr Riley is a very brave man to take on such a huge project like this."

Riley and Son brought the locomotive last month for an unknown six-figure price. Plans are now underway to transport it.