The CPO was approved by Pickles following a two day public inquiry in the summer and the Council will now work to complete negotiations with landowners and tenants. The Transport for Greater Manchester (TfGM) project has been developed in partnership with Bolton Council.
Property owners, businesses, tenants and members of the public affected by the development were invited to take part in the inquiry into whether CPO powers could be used to deliver the project.
Full planning permission has already been secured for a bus station proposed in conjunction with the scheme to be located next to Bolton railway station.
The scheme's promoters hope that the project will provide better links between rail and bus services, as well as improved waiting areas, passenger facilities, accessibility, information, and safety and security.
"This is excellent news and this decision marks another significant milestone in the delivery of this scheme," Councillor Cliff Morris, leader of Bolton Council. "The interchange is a key part of our town centre development programme and supports our regeneration proposals for this area."
“We have already made significant progress to acquire the necessary land without having to go down the CPO route. Having the approval means that we can compulsorily purchase the land but we would only use the CPO as a last resort," he said. “We will still strive to complete negotiations without using it whilst continuing to support and assist the affected businesses where possible to relocate elsewhere within the town centre.”
TfGM will continue to work with Bolton Council and bus operators to ensure Bolton Market and other areas of the town centre can be easily accessed by bus in the future, the Council said.
A strategy will also be developed to signpost pedestrian routes to areas of the interchange and the town centre, including the market.
The project also includes landscaping and public realm improvements which will support the wider regeneration of Bolton town centre.
The scheme is being funded by £48 million set aside through the Greater Manchester Transport Fund to support Bolton Town Centre Transport Strategy.
Subject to securing the necessary approvals the new facility could be operational by 2015. Plans for a new commercial development on the site are also being developed.