Work to redevelop the former Beales store in the centre of Lynn could start later this summer, with a big name clothing retailer moving in next year, it has been claimed.
A report has claimed that H&M could move onto the site once the project is completed.
But business leaders say the schedule will only be fixed following talks that are due to take place next week.
The site has stood empty since the Beales store closed last August, with the loss of almost 40 jobs.
The company had previously confirmed that it was seeking to renegotiate leases for stores that it felt were no longer sustainable.
Following its closure, planning permission to demolish the building and replace it with four new units was granted by West Norfolk Council in November.
Now, in a report to next Thursday’s borough meeting, portfolio holder for corporate projects and assets, Alistair Beales, said: “I am pleased to report that redevelopment of the formerBeals department store should begin on site in August 2017 and with a projected 47 week build, completion/handover to H&M in July/August 2018.”
But a spokesman for the Vancouver Quarter shopping precinct, of which the site is part, said: “We have a meeting with contractors on June 15 and the timeline of the development will not be determined until then.”