Modus is waiting for council approval for the project, called Lindongate, which would bring an extra 350,000 sq ft (32,515 sq m) of retail space to the town, including a department store and an additional 39 units.
The scheme will also include a residential area with 180 flats, a 1,000-space car park, restaurants and a hotel.
Modus director James Ridings said: “Having worked hard with the public and the stakeholders of the City Centre Master Plan over the past two years, we are delighted to be submitting a planning application for this scheme.
This puts the scheme on target for completion in late 2011 or early 2012 and will significantly improve retailing in Lincoln, as well as building on its great success as a leisure destination.”
So far no retailers have signed up for space on the scheme, but Modus has appointed Lunson Mitchenall and Banks Long & Co to find tenants.
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