The plan drawn up in partnership with Morgan Sindall regeneration arm Muse will see a new market hall, civic centre, multiplex cinema and shops and restaurants.

The new market will be built on the site of the former Boots Building on Bridge Street, preserving the Grade II listed brick façade.

Subject to consultation and planning approvals, construction is due to start on site next Autumn with a phase programme over the course of five years creating up to 400 construction jobs.

The first building to be constructed on the site of Time Square will be fully equipped and fitted out to serve as a two-year provisional home for the market to allow the existing, outdated market hall to be demolished and the new market hall to be constructed.

Bridge Street’s regeneration will complement the £190m Stadium Quarter scheme announced earlier this year, located 700m to the north of Bridge Street and will comprise mixed use educational, office and housing uses.

Last month Warrington Borough Council announced that it had also commissioned a masterplan for the Cabinet Works area of the town centre which abuts Bridge Street to the West.

Warrington Borough Council is also about to establish a joint venture partnership with developer Langtree, provisionally called ‘Southern Gateway’, to bring forward a number of sites in joint ownership that will maximise their potential.

Two of the major areas being looked at are at Howley Quay and Wilderspool.