The Nelson-based contractor hopes to start work on the 11-acre scheme on Rossendale Road in Burnley this year if planning approval is granted.
The business park, which will be known as Advance Point, will be developed across two phases. Phase one is made up of 36 industrial units ranging between 2,100 and 6,460 sq ft for a total of 110,000 sq ft.
Campbell Driver is acting as planner and architect for the scheme.
Advance Point is the latest project from Barnfield which is currently on site at Beacon 62, an 11-acre mixed-use development in Huyton, Knowsley and a 112-bedroom Hampton by Hilton hotel in Blackburn.
Tim Webber, Barnfield’s managing director, said: “We are hugely excited to be bringing forward these proposals. Situated between junctions nine and 10 of the M65, this site offers strong connectivity for business and significant opportunity to relocate or expand in a modern and well thought through development.”
Michael Cavannagh, director at Trevor Dawson, which has been appointed to market the scheme, said: “There have been a lack of speculative developments along the M65 in recent years however the market has moved on and there is pent up demand for schemes such as Advance Point which will be a great asset to the market.”
Plans for phase two of the project will be submitted later this year.