Preston College has been granted planning consent for a £5m development at its Fulwood Campus site on St Vincent's Road.
DTZ advised Preston College, securing full planning permission on its behalf. The building was designed by architects Taylor Young.
Part of the redevelopment will become a new home for Preston College's visual and performing arts students who currently study at the Park Campus in Moor Park Avenue, which is to be sold.
The new building will see industry standard music, dance and television studios installed as well as a theatre.
Janet Hewitt, the college's facilities manager and capital project director, said: "We are now looking to start work on the new development as soon as possible so that we have a fantastic facility up and running in time for the start of the new academic year in September."
Around 20,000 students are currently enrolled at Preston College, on a wide variety of courses, ranging from A-levels, vocational qualifications and higher education programmes, to employer-based learning.