BCEGI will lead the construction programme for the new Galleries 25 scheme, which will see the existing 440,000 sq ft shopping centre transformed into a multi-media centre for the town by 2025.
First construction is now set to start early next year.
This will provide a six-screen cinema, music and E-sports venue, 10 lane bowling alley and indoor mini golf course. A purpose-built pavilion off Market Street will provide new food and drink establishments and evening entertainment.
The proposals also include a new hotel and 464 homes ranging from one-bedroom flats to three-bedroom town houses and retirement living.