SIR ROBERT McAlpine is set to secure a £60 million deal to revamp a run-down town centre in Cornwall.
The company has seen off Interserve and Carillion - which originally bid for the deal under the Mowlem name - to make it through to the second stage of the two-stage tender process.
Led by David McLean Developments, the project will see St Austell town centre completely redeveloped in a project called Trinity One. The scheme is being jointly worked up by the South West Regional Development Agency and Restormel Borough Council and will feature shops, bars, a cinema complex, 69 f lats, community facilities and a car park.
One McAlpine insider said: 'We are currently preparing the final details of the contract and we are hoping to start on site early next year.'
A council spokesman said: 'The contracts on the deal are due to be officially signed in November.'
Consultant White Young Green has been carrying out environmental works at the site since last month ahead of the second stage of demolition works, which are due to start in the next few weeks. Gleeds is QS on the project.
Devon contractor Gilpin Demolition has been carrying out all phases of the demolition work, which is expected to be completed in December.
Main construction will start early next year. The scheme is anticipated to be completed in 2009.
David McLean is expecting to attract big-name retailers to the 18-unit scheme.
Budget clothing retailers QS and Peacocks are among the stores that have had to move out of their premises to make way for the development.