A further £30m is set to be spent on the next stage of regenerating Bracknell town centre.
Bracknell Forest Council's announcement follows the completion of the £240m Lexicon centre, which was unveiled in 2017 after taking five years to build.
Part of the money will be used to build a covered public space at the Lexicon, containing restaurants and shops.
The council is working with developers Bracknell Regeneration Partnership (BRP) to deliver the project.
The plans include turning the old Bentalls unit into a covered space, which will be called the Deck and linked to a remodelled Princess Square.
Marc Brunel-Walker, the councillor in charge of the town's regeneration, said: "The signing of the development agreement between the council and BRP is an important step in enabling the next exciting phase of Bracknell town centre's regeneration."
Bracknell was originally built to help alleviate the post-war housing shortage, having been designated as one of 10 new towns to be built around the country.
But civic chiefs decided that it looked dated and made plans for a major phased regeneration project which is expected to be completed by 2032.
The work has been funded by BRP, a joint venture between firms Legal and General and Schroder UK Real Estate Fund.