Wigan Borough Council has signed a development agreement with Modus Properties over the£87 million Grand Arcade development.
The council will now invoke compulsory purchase powers to complete the site assembly. If there are no further delays, the 400,000 sq ft (37,715 sq m) centre will open in summer 2006.
The local authority has been keen to see progress on the project - where Debenhams and Marks & Spencer have already signed up as anchor tenants - in order to reverse the town's decline.
Management Horizons Europe estimates that the Grand Arcade development will lift Wigan up from 131st to 84th in the UK national retail hierarchy.
In addition to the two anchors, terms have been agreed with retailers, including Next and Bhs, on 35 per cent of the remaining space.
Modus managing director Brendan Flood said: 'Wigan's under-anchoring provides an opportunity for Grand Arcade to consolidate the town's retail offer, create a new prime pitch and generate a high concentration of multiple retailers.'
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