The scheme will include a 100,000 sq ft Sainsbury’s food store and petrol filling station, along with 32,000 sq ft of industrial development.
Terrace Hill plans to speculatively develop 20,000 sq ft of industrial space ahead of the completion of the supermarket.
The scheme at Beltinge includes business starter units and building a foot bridge across the Ramsgate to London railway line at Blacksole Bridge.
The planning application will now be referred to the Department of Communities and Local Government for rubber stamping.
Full consent is also subject to Section 106 and 278 agreements.
Works is due to begin early next year with completion expected in early 2016.
Philip Leech, property director for Terrace Hill parent group Urban&Civic, said: “We have worked closely with Canterbury City Council and local business groups to ensure that this scheme has a positive impact on the town of Herne Bay.
“The new scheme will create a large number of new jobs for Herne Bay, as well as providing significant investment into the local area.”