Emergency services were called to the scene at around 13:30 today, 4 December.
In what has been described as a “hugely concerning crime”, by Wiltshire Police , they are now encouraging the public to come forward with any information they may have.
This comes after witnessed reported two men dressed in black with balaclavas and holding large knives leaving the area.
Reportedly, they fled the scene on their bicycles .
Following this, two people have been arrested on suspicion of murder and are currently in custody.
Whilst formal identification has yet to be confirmed, cops believe that they know the identity of the victim.
Therefore, they have informed his next of kin.
A statement has been issued by Detective Chief Inspector Phil Walker, of the major crime investigation team.
He said: “This is a hugely concerning crime in which a young man has sadly lost his life.
“We are urgently appealing to members of the public who may have information which could support our investigation to contact us.
“We understand that this incident will be of concern to the local residents and we are utilising every available resource within our organisation to identify those responsible for this murder.”
The Detective Chief Inspector continued to add: “Members of the public will notice an increased police presence across the whole of Swindon in response to this incident. Please do not be alarmed by this and I would encourage you to speak with officers if you have information that will help our investigation.
“Our thoughts are with the family and friends of this young man.”
Inspectors earlier reported that they do not believe there is a risk to the wider public following the incident.
A cordon is in place, and police have been going door to door speaking to residents, report the BBC .
Meanwhile, Wiltshire Police have urged the public to come forward if they have any information regarding the crime.
They said: “If you have any information that can help with our enquiries, please contact us on 101 quoting Operation Glendale.
“Alternatively, you can call CrimeStoppers anonymously on 0800 555 111.”