Cheshire-based Muller Property Group is close to submitting a planning application for a £40m retail and leisure development in Sandbach.
Old Mill Quarter would contain a 40,000 sq ft supermarket, petrol station, garden centre, KFC restaurant, Starbucks drive-thru, 62-room Premier Inn hotel and Marston's pub and restaurant. There would also be 20,000 sq ft of light industrial units and 822 car parking spaces.
The site is currently farmland and plant depot on the edge of the town centre next to Old Mill Road and the existing Waitrose foodstore.
Colin Muller, chief executive of Muller Property Group, said: "Our vision is to ensure Sandbach remains a vibrant, lively and sustainable place to live and work. We are looking to provide a wider choice of food shopping, leisure amenities and employment facilities that local residents and businesses desperately need so they don't have to leave the town.
"The Old Mill Quarter development is a unique opportunity to ensure this vision can be delivered, whilst also creating long-term employment opportunities. Given the history of business closures and job losses in the town this is a scheme with big credentials. This investment will help Sandbach to remain an attractive town for shopping and leisure and a vibrant place to live and work."
The scheme will fund local highway improvements to Old Mill Road and High Street, and make a contribution to the road network at Junction 17 of the M6.
Muller expects to submit its final plans to Cheshire East Council this summer and would expect a planning decision by the end of the year. This could allow construction to start in spring 2013 with a view to completing the first phase later that year with the full scheme to be finished by 2015.
Public consultation is currently taking place before an application is submitted.
Pegasus Planning Group is advising Muller.