Notcutts in Maidstone, Kent, is to be rebuilt as part of a Land Securities-owned shopping village.
Debenhams and Waitrose will anchor the Newham Court village. Notcutts' centre will be demolished and built elsewhere on site.
Business director Michael Cole said the plan would help Notcutts compete against newer garden centres:
"This is an exciting proposal and we hope Maidstone council gets behind it."