Intu is also planning a £150m investment in the city’s Broadmarsh shopping centre.
Mike Butterworth, chief operating officer for Intu, said: “Intu now has in place investment plans that will extend and upgrade the city’s two favourite shopping destinations, introduce new brands, restaurants and leisure spaces and create new and improved gateways to the city in the north and south.
“Work is already underway on the first of these projects with the £40million remodelling and refurbishment of intu Victoria Centre and I am really pleased that we can start to take the intu Broadmarsh plan forward as well.”
Construction work to extend and refurbish intu Broadmarsh could start before the end of 2015.