Property developer Coplan Estates will deliver a multiplex cinema, restaurants and shops complex in the town's centre.
Designed by architects PRP, features include 153 studio one and two bedroom flats, as well as a six-screen cinema and up to eleven glass-fronted shops with family-style restaurants on the ground and first floors. In addition, basement parking will be provided for residents along with a new pedestrian route connecting the High Street to Marketfield Way.
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The development will also replace the council's Marketfield Road car park including 12 shops with offices above in the High Street, opposite the main entrance to The Belfry shopping centre.
Cllr Natalie Bramhall said: "It’s great news that the plans have been given the green light. It will give residents and the local workforce much better choice when it comes to eating out, shopping and spending their leisure time locally, particularly in the evening, as well as much needed town centre housing.
"The redevelopment will provide a huge boost to our regeneration ambitions and the local economy by creating hundreds of new jobs and increasing spend in the town.
"The next step now is for the architects to complete the detailed specifications for the scheme and for us to tender the building contract."
(LM/MH)
