Yorkshire-based S Harrison Developments has won outline planning approval for its 275,000 sq ft (25,550 sq m) Washington Square development at Workington, Cumbria.
The scheme will replace the existing 1960s town centre with a modern retail scheme anchored by a 75,000 sq ft (6,970 sq m) Debenhams store and served by a 430-space car park.
Studies commissioned by Harrison indicate that the scheme will increase Workington's catchment to nearly 100,000, doubling comparison goods expenditure as a result.
Work will start on site next summer, with phase one completed in 2005 and the entire project finished in 2006.
Nicholas Robinson & Partners and Tushingham Moore are joint agents.