The development by Cobalt Estates (Kenilworth), in association with Discovery Properties, is currently ongoing and an update on plans was held for traders on Thursday evening.

Businesses have been struggling due to the construction work which started in September.

A number of businesses have closed or left the town and traders at Millar Court fear the worst could happen.

At the meeting, Hugo Hawkings, Discovery Properties chief executive, tried to allay those fears.

He said: "We do appreciate that the construction phase has and will cause significant disruption and are doing all we can to alleviate this and help Talisman Square traders at this time. However the shops in the square will trade as usual during the redevelopment and we encourage shoppers to continue to support their local traders."

Mr Hawkings met with traders and other interested parties at an open event at Talisman House to confirm the redevelopment programme for the new Waitrose and £25m revamp of Talisman Square.

He added: "Work is now well underway with the aim being that the Waitrose and the first phase of Talisman Square will be finished by September next year. The second phase will commence following completion of the first phase and should be complete in summer 2009."

The south side phase involves a major external refurbishment of Talisman Square to include Cobalt House and the shop units fronting Warwick Road.

The work will involve the removal and replacement of the existing canopy over the square with the extension of a number of units forwards, creating new kiosks and repaving the main mall.

As part of this refurbishment, a new unit will be created at the entrance to the scheme and the existing Boots will be extended forward.
The aim is to have one side of Talisman Square finished to coincide with the completion of the Waitrose and car park next June.

Work on the north side will start next year, subject to finalising a number of agreements to enable the existing tenants to relocate within the scheme, following completion of the Boots unit.

This includes all the units between Boots and Scope as well as the two on Station Road. These units will be demolished and a number of new larger shops built.