Belfast-based developer Benmore Group has planned to create a "leisure destination" six miles outside of Liverpool city centre at the existing New Mersey Retail Park on Speke Road, according to the Liverpool Echo.
The project has already attracted interest from several companies and will feature a multi-screen cinema, restaurants, a gym and hotels spread across a 50-acre site, the newspaper reported.
As many as 300 jobs could be created in mid-2012 when the development opens and it is predicted that an extra 500 positions will be made available during construction.
"Such major investment from the private sector is extremely welcome in the current economic climate," Liverpool council leader Joe Anderson commented.
Information is available to those interested in the plans, with roadshows being organised at the New Mersey Retail Park and a website launched to offer details on Benmore's intentions.
Written by Jude Whitehouse