The project is part of a number of ongoing West Lindsey District Council investment programmes, which aim to develop the district’s towns and rural communities.
Councillor Owen Bierley, leader of West Lindsey District Council, said: “The demolition of the former Lindsey Centre is a focal point of our plans to create a ‘Thriving Gainsborough’.
"The redevelopment of this key town centre site will not only enable the delivery of the cinema, but also connect Marshall’s Yard with the historic Market Place via a new walk way.
“It is a very exciting time for the town as there is a hub of regeneration activity taking place.”
This project forms part of the council’s ambitious plans to regenerate the wider town centre area, which is undergoing a significant investment thanks to Council’s £18 million Levelling up Programme.
Adrian Corrigan, divisional director for GBM Demolition, is delighted to join the council for the project.
He said: “We’re very pleased to be involved with this demolition project, which is local to us and enables employees and supply chain partners from the locality to carry out and benefit from the works.
"We think the development of the cinema will be of great benefit to the area, and it’s exciting to be able to play a key role in the improvement of lovely Lincolnshire towns such as Gainsborough.”
The building, which was previously known as Oldrids Department Store, is due to take approximately 12 weeks to demolish.
Sir Edward Leigh, MP for Gainsborough, said: “This project will have an incredible impact on Gainsborough, it will really make people sit up and take notice.
"This town deserves it, and I am absolutely delighted and cannot wait to see the work taking place.”
West Lindsey District Council and GMB Demolition will be working closely to ensure disruption to market traders and businesses around the market place is kept to a minimum. For updates visit www.investgainsborough.com/luf/cinema.