VITAL cash has been secured from Europe towards an employment site that should create more than 1,000 jobs in Burnley.
When complete, the £48m. Burnley Bridge Business Park will be a timely boost to Burnley’s beleaguered economy.
Developers Eshton can now set the ball rolling after securing £3.8m. from the North West European Regional Development Fund (ERDF).
The cash will accelerate work to get the former Hepworth’s site, off Junction 9 of the M65, Hapton, ready including a bridge over the Leeds Liverpool Canal and construction of business units.
James Chapman, managing director of Eshton, said: “This is a massive regeneration scheme for Burnley, which will have significant benefits for the local economy and community, especially in these challenging economic times.
“We will continue to work closely with the council to deliver sustainable employment in an excellent strategic location.
“Securing this funding gives the green light to begin construction of the bridge and access roads which will kick start the whole project.
“There is already significant interest in the park from national and local companies and we are in advanced talks with a number of parties.”
The 70-acre development is a major regeneration site for Burnley and one of the largest employment sites on the market in Lancashire, which will deliver significant economic benefits.
When complete, Burnley Bridge Business Park will offer 650,000sqft. of mixed use employment space, including large units of up to 400,000sqft.
Burnley Council leader Coun. Charlie Briggs said: “I am delighted. The council worked tirelessly to make this happen and all the hard work has paid off. Thanks should also go to Burnley MP Gordon Birtwistle for raising awareness with key decision makers to help secure funding.
“This site is a prime Grade A development, which will put Burnley firmly on the ‘key regional development sites’ list used by top commercial property agents, who are currently experiencing a lack of supply of large quality sites.”
At a recent meeting in Manchester with key regional property developers, Burnley Council presented the opportunities of the Burnley Bridge Park.
It will be the largest of several developments underway including the Burnley Knowledge Park and Burnley Technology Park.
Infrastructure works for the first phase are due to start early next year.