South Ribble Borough Council has given the go-ahead to Industrials REIT for the redevelopment of a 55,750 sq ft, multi-let industrial scheme in Bamber Bridge, Preston.
The old industrial building will be turned into 44 light industrial units of between 500 and 2,600 sq ft.
The redevelopment will see the creation of up to 100 new jobs and an injection of £3.2m into the local economy. Once operational, the scheme is expected to provide a £3.8m annual boost to the Bamber Bridge area.
Industrials REIT acquired Old Mill industrial estate in 2018. The redevelopment works are expected to start in May, with targeted completion early next year.
Paul Batho, senior development manager at Industrials REIT, said: “This development is aligned with our policy of leveraging the development expertise within our business, recycling older properties beyond their economic life, and bringing underutilised parts of our estates into use.”
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