Earlier this month it was revealed that the discount store had taken over the unit in Meole Brace Retail Park.
A report from Quod, acting on behalf of the applicant, said: "In keeping with its aspirations to be the discount retailer of choice, Home Bargains want to completely refurbish the unit both externally and internally.
"This investment, which will exceed £1.5 million, will create jobs for local people through both the construction and operational phases, as well as facilitate the occupation of a vacant retail unit Meole Brace Retail Park."
It plans to remove the mezzanine floor level as well as creating a new shop front and lobby.
Home Bargains already has two shops in Shrewsbury, in Abbey Foregate and the Pride Hill Shopping Centre.
It is set to create about 50 news jobs when it opens a third.