Drake Circus Leisure is a 100,000 square foot development next to its 570,000 square foot Drake Circus Shopping Centre in Plymouth city centre.
The scheme will include a 12 screen cinema operated by Cineworld, 13 restaurant units and 450 car park spaces. The site is currently a coach station but this will be relocated.
Architec for the scheme is Corstorphine + Wright A detailed planning application for the scheme will be submitted in early 2015, British Land said.
British Land bought Drake Circus Shopping Centre in 2011. The cinema complex is a way of drawing people to it in the evening as well as at daytime.
Retail development director David Pollock said: "Plymouth has a very strong local catchment, and a vibrant and successful city centre, which will be further enhanced by our investment. The proposed leisure scheme creates an opportunity to take Drake Circus to the next level, and with a number of new brands added, is a very strong example of our strategy to create Places People Prefer. We are delighted to be working with Plymouth City Council on this project to establish Drake Circus as the West Country's retail and leisure destination of choice."