Conygar Investment Company reacquired the seven-hectare area at Slade Lane, Haverfordwest in 2015.
The site had planning permission for a 95,000 sq ft retail superstore and a petrol filling station.
The property investment group has now put forward proposals for a retail-led mixed-use development at the site, including a cinema and restaurant development.
Features of the first application includes creating 10 retail units totalling 101,250 sq ft, a 60-bed hotel, 434 car parking spaces and new internal roads to link with a new roundabout on Thomas Parry Way. In addition, new landscaping, lighting, drainage and services will be developed.
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The second proposal features a five-screen cinema with five new restaurant units and 168 car parking spaces. Other services, such as lighting and landscaping, will also be included.
Around 23 jobs will be created during the construction stage, with the finished projects supporting approximately 460 full-time jobs.
Robert Ware, CEO of Conygar, said: "Following the withdrawal of Sainsbury's interest in Slade Lane, we believe that our revised proposals represent the optimal solution for the site and would result in an exciting new retail and leisure destination, which would further enhance and support the on-going development of Haverfordwest."
If approved, construction work is set to begin early in 2017.
(LM/MH)
