The German budget supermarket chain is moving into a town still reeling from the loss of its M&S and Asda.
Aldi has announced that it will be opening a new store in Newmarket next autumn.
The company will move into the site of a former gasworks, next to the leisure centre, on Exning Road.
An Aldi spokesman said: “Construction is now underway for our new store in Newmarket, which we plan to open in autumn next year. This will create up to 50 jobs and enable local people to shop and save closer to home.”
The store will be have a sales floor area of 1,254 square metres and parking for 119 cars.
The site has been vacant for more than 30 years and was initially earmarked for a Morrisons in 2013.
The company will be sharing the site with elderly home group Anchor, which has plans to build 69 apartments, which will be sold on a 99-year lease - each coming with its own care package. On top of that, it will have a hotel-style reception area, a bistro-style café and an activities area.
A spokesperson for Anchor explained that their plans “may change as the detailed designs are developed.”
The news will be welcomed by Newmarket residents who are disappointed that the town is losing its Asda supermarket, which is closing its doors for the final time on December 2.
Marks and Spencer also recently decided to leave Newmarket, closing its flagship store at the Guineas Shopping Centre on August 11 after 30 years of trading in the town.
Aldi also has stores in nearby Bury St Edmunds and Haverhill, but this will be its first foray into Newmarket.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here