Work is already under way on the new 28,000 sq ft restaurant quarter, which will create five leisure units fronting Friargate, ranging from 3,000 sq ft to 10,000 sq ft.
Botanical cocktail specialist The Botanist has signed a 15 year lease on 10,000 sq ft to anchor the scheme.
The popular bar and restaurant - which also offers live music - now has nineteen units across the UK.
The brand originated in the North West and is owned by Graphite Capital.
Coun Peter Moss, Deputy Leader and Cabinet member for planning and regulation at Preston City Council, said: “This is brilliant news and shows what Preston has to offer.
“Attracting recognisable names such as Matalan, The Botanist and Mowgli maximise the benefit to the wider economy, as well as adding choice for the people of Preston.
"It’s important that any future investment complements the burgeoning leisure offer as we are committed to, and passionate about, the long term success for the city centre.
“We can’t wait to welcome these new businesses to our amazing city.”
Mark Whittle of Preston Business Improvement District said: "“Both the Botanist and Mowgli are strong brands with a great heritage in some big cities.
"We are delighted that they have shown confidence by in investing in Preston and look forward to them joining our vibrant and award-winning leisure scene”.
Chris Hill, CEO at The Botanist (NWTC), commented: “The exciting development of St Georges and the sense of community in Preston aligns with our wider brand vision, making it the ideal next home for us. We take our role in the community seriously and we can’t wait to be part of this city.”
Mowgli has signed a 15 year lease on 3,400 sq ft and will open alongside The Botanist in Autumn 2020, when the new restaurant quarter is completed.
The street food restaurant was established by Ormskirk-based barrister Nisha Katona in 2014, inspired by the often vegan and healthy food Indians eat at home.
The company was placed in The Sunday Times Fast Track 100 list in 2018 and this year Nisha was recognised in the New Years Honours List.
These latest deals follow on from a major letting to Matalan earlier this year, which secured a new anchor for the 284,000 sq ft shopping centre.
The retailer is officially opening a 26,000 sq ft flagship store this weekend.
Keith Butcher, Director, Real Estate at InfraRed Capital Partners said, “Creating a new restaurant quarter and attracting a major new anchor for the scheme were our two key priorities for St George’s.
"We couldn’t be happier to have secured such high quality operators as The Botanist and Mowgli.
"Both have a very loyal following and will bring something new and exciting to Preston.”
St George’s is located between Preston’s two main shopping streets Fishergate and Friargate.
The centre has its own 400 space multi-storey car park accessed from Lune Street and radiates around a large circular glass-roofed rotunda, occupied by Costa Coffee. Tenants include H&M, M&S, New Look and River Island.