The new hardware takes the form of a tower crane and was delivered to the site on Wednesday,
The crane is expected to be erected and fully operational by early February, subject to any delays resulting from poor weather conditions.
Oliver Wren, centre director at Castle Quay Shopping Centre, said: “The project has made significant progress since work on-site began in 2019 and we’re pleased to see it taking shape.
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“To date, the focus has been on laying the foundations for the project to progress on a strong footing, although we expect progress to become increasingly visible in the coming months.
“Castle Quay Waterfront will be a welcome addition to the existing shopping centre, helping to broaden its appeal to meet the changing needs of a wider range of shoppers.”
The crane will remain in place for the duration of the project and sources on site have confirmed that the project remains on-track to meet its original completion date of 2021.
Craig Benham, project director at McLaren, said: “As we reach the completion of the groundworks to the Hotel, the arrival of the crane marks a significant milestone in the progress at Castle Quay Waterfront.
“In the coming weeks, local people will start to see the new exciting structures which form the start of the next phase of the construction works.
“We continue to work on schedule, working with the local community and Cherwell District Council to minimise disruption and bring the vision for Castle Quay Waterfront to life.”
When completed, the new development will transform Banbury’s Castle Quay into a new canal-side retail and leisure destination, complete with a The Light© Cinema, Lidl supermarket, Premier Inn hotel and restaurants.
The new line-up will complement the existing line-up at Castle Quay Shopping Centre, helping to attract a greater number of visitors from across the region while providing a boost to Banbury’s evening economy.
It also marks the latest milestone in ongoing works at Castle Quay ahead of the eagerly anticipated opening of phase one of Lock29 in spring. Lock29 will play host to a wide range of independent food and drink artisans and events, attractions and educational activities.
The arrival and commissioning of the crane should not cause any disruption to the surrounding area with no road closures planned throughout the installation.