H&M is refusing to comment after it was revealed a ‘major fashion retailer’ will open at Barons Quay.

Cheshire West and Chester Council announced it had exchanged an unconditional contract with an unnamed firm to take on a 21,500sq ft unit at the £80 million development on Monday.

Both the authority and its elected members are remaining tight-lipped over which retailer will take up the unit – but sources close to the Guardian believe it to be H&M.

In a statement released by CWAC, Cllr Brian Clarke, cabinet member for economic development and infrastructure, said: “The commitment to opening a store of this size in Northwich is testament to the belief that we have always held that the town is on the up.

“Our investment in Barons Quay was always a long-term commitment and we’re determined that Northwich establishes itself as a go-to shopping and leisure destination for local and wider Cheshire residents.

“This is the first of a number of good news stories I expect we will be able to share over the coming weeks. We remain absolutely confident that as Barons Quay becomes established and the town grows, the benefits for local people will be unquestionable.”

CWAC says that fit-out work at the store will begin ‘imminently’ and that contractors have been engaged.

No firm date has yet been agreed for an opening but the council says that work is being timed to ensure that the store maximises pre-Christmas trade.

Cllr Sam Naylor, Labour CWAC member for Winnington and Castle, is delighted that the town has received another boost one week after the proposed £70 million women’s football centre of excellence was revealed – which he believes will ‘put Northwich on the map internationally’.

“It’s fantastic news – it is going to create jobs and it puts the town on the map,” he said.

“It is a long-term investment and I have always said that it is going to take a few years to be completely thriving.

“But evidence would suggest that once we get a big name coming in it gives other companies confidence.”

Once the new retailer opens its doors, 56 per cent of Barons Quay’s floorspace will be occupied.

Cllr Mark Stocks, Conservative CWAC member for Shakerley, called on the both parties to work together and make Barons Quay a success last December.

He believes the addition of a major retailer can only be a good thing for the town – but hopes it isn’t undone by the introduction of parking charges.

“I think it’s a really positive step and I think it has been a while in coming,” Cllr Stocks said.

“We’ve already seen an increase in footfall in Northwich and I think additional retailers coming in can only add to that. I think it will benefit the whole town centre – that’s what Barons Quay is all about.

“But the one thing we have got to make sure is we don’t introduce parking charges. We want to see more retailers coming to Barons Quay to attract more shoppers into Northwich.”

Meanwhile, a public consultation on the Weaver Square masterplan is set to be launched next week – forming part of CWAC’s £129 million investment into Northwich’s regeneration.