The plans were approved at Wandsworth’s planning committee last week.
Planning documents show the ground floor would be used as a bar and restaurant with an electric indoor go-karting track.
The mezzanine would be used as a family entertainment centre and high ropes climbing, with bowling, indoor golf, darts, pool, basketball and another bar and kitchen on the first floor.
The unit has been vacant since the closure of Debenhams in January this year.
It is currently being used by the charity initiative Rainbow Rising, providing a free space for local charities and volunteer groups.
The Rainbow Rising initiative at the former Debenhams site Credit: Rainbow Rising