If you don’t have a milling cutter to hand, you could mount the job off centre on the faceplate or 4 jaw so the existing 8mm hole is running roughly true, then drill it out to, say, 12mm or so. Then set the handwheel rim to run true and bore out the now offset hole with a boring bar.
With your final hole being 20mm , you have plenty of “meat” to play with. If you mark out the 20mm hole to start with, you will know exactly how close to it you are drilling.