The final legal agreements have been signed and the council has given notice to all landowners on the site of its intention to proceed with the work, in accordance with the compulsory purchase order.
Joint developers Wilson Bowden Developments and Ashcroft have appointed Bowmer & Kirkland to carry out the construction works on the multi-million pound scheme.
The development will feature a Sainsbury's supermarket with an integrated car park, a five screen Cineworld cinema plus new shops and family restaurants. It will open in autumn 2015.
Rob Williams, head of retail agency and development at Strutt & Parker, who are joint letting agents on scheme, said: “The UK has certainly seen an upswing shopping centre development with activity in the first four months of 2014 matching that of the last three years. We should see this trend continue and there are further developments that are likely to start on site this year, which, like The Crescent, have been backed by the local authority to ensure that a viable solution is delivered.”
Will Robinson, from Wilson Bowden Developments, added: “We are delighted to now be delivering The Crescent, which is an excellent example of an innovative public / private sector partnership working together to bring about a major town centre regeneration project. This is a very exciting scheme for the town and will bring a strong retail and leisure offer to Hinckley.”
Strutt & Parker and DTZ are joint letting agents for The Crescent.