The scheme, on the corner of Fishergate, facing the Town Hall, includes more than 30,000 sq ft of office space and three new leisure units.
The developers said the scheme will benefit from its proximity to Grosvenor’s Tithebarn scheme, where a planning application has now been submitted.
Mark Caldwell of Bluemantle said: “By improving the Arcade’s existing offer, we will be able to play our part in the continuing development of
The Bluemantle-Kilmartin jv acquired Miller Arcade from previous owner Maple Grove Developments in an £8.6m deal earlier this year.
Work is due to start in early 2009.
