Barnfield Centric has started work on 82,000 sq ft of speculative space at its £6m Estuary Banks business park in Speke, south Liverpool.
Barnfield, a joint venture between Manchester's Capital & Centric and Nelson-based Barnfield Construction, hopes to complete the scheme next summer.
It acquired the land for £1m from the North West Regional Development Agency (NWDA) and the scheme will benefit from £2.54m of European Regional Development Fund (ERDF) support.
Barnfield plans to target occupiers operating in the bio-pharmaceutical and knowledge sectors who could create up to 300 jobs in the area.
It will build 20 units ranging in size from 3,000 to 20,000 sq ft.
Capital & Centric dirtector Tim Heatley said: "Estuary Banks is a fantastic example of the sort of space that will do well in the current market. Companies, both local and those requiring international freight and business transport connections, will find the accommodation to provide state-of-the-art facilities for relocation or expansion.
"We're finding that many of the companies that are now at the stage of outgrowing their current premises in south Liverpool are looking to Estuary Banks to provide much needed space for growth, efficiency and reduced long term running costs given its 'BREEAM Excellent' rating for sustainability."