ASDA looks set to be crowned the victor in a long-running battle of the supermarkets after it confirmed it was close to completing a deal with Hayle harbour owner ING.
The supermarket giant could open on the South Quay foodstore site as early as 2014, creating up to 270 full and part-time jobs in the town.
"We are delighted to be close to finally delivering Asda's famous low prices to Hayle," said Oliver Jones, property communications manager for Asda.
"We've really enjoyed getting to know the local community over the past few years and we look forward to bringing all of our community initiatives to the area.
"This will be a rather unique store and we look forward to confirming more details in the coming months."
With a retailer set to go into the foodstore, ING Red UK's national acquisitions director, Simon Clarke said the company hoped to start work next spring on the mixed-use scheme for South Quay, which will include 30 new homes, a waterside restaurant and a public open space.
It is expected that work will take around 12 months so Asda could open as soon as spring 2014.
Mr Clarke said it was fantastic news for Hayle.
"One of the reasons Cornwall Council supported the South Quay scheme is that it actually brings people into the town," added Mr Clarke.
"I think you are going to see a transformation in the fortunes of the town."
The news comes after a long, sometimes bitter, battle between three retail giants and the developer for permission to build a store in Hayle.
Last October ING was given permission by Cornwall Council to include a foodstore as part of its redevelopment of the harbour.
At that time Asda's application for an out-of-town supermarket at Hayle Rugby Football Club's site next to West Cornwall Retail Park was turned down, as was Morrison's plan to occupy the Jewson's site on Carnsew Road.
Sainsbury's out-of-town application for a store at Marsh Lane was rejected in February 2011.
But with a new supermarket for Hayle finally set to become a reality, ING and Asda are now working on what type of store the town will get.
Last month ING put in a planning variation application to increase the sales area in the foodstore allowed to be used for non-food items from 20 per cent to 30 per cent.
Mr Clarke said this change was to accommodate for Asda's range of non grocery items, including its clothing brand George.
