Construction work has begun at Property Alliance Group's 27-acre Dumers Lane mixed-use scheme in Bury, with seven speculative industrial units already under offer.
The £10m development on land formerly occupied by the manufacturer of Halls cough sweets comprises housing, industrial space, a convenience food store and a seven-acre riverside park.
Seven of the 11 industrial units being built speculatively as part of the first phase of construction are under offer. The Bury South development is being marketed jointly by joint agents Nolan Redshaw and WHR.
Seven acres of land have been sold to Bellway who will build 114 houses over the next three years. The properties will be made up of semi-detached and detached housing, including family and affordable homes. A further seven acres is under offer to Persimmon who plan to build 125 houses during phase two.
Seven acres of land around the River Irwell's edge, which is currently inaccessible private land, is being landscaped and will provide public open space by the end of this year. It will include a footpath and wildlife corridor to help improve ecology and create new habitats. It will also be able to be used for recreational activities, including angling.
Lee Charnley, director of Property Alliance Group, said: "It has been a long process getting to this point, so it's great to finally be on site and starting work on this major regeneration project.
"The construction of the industrial units should be completed in six months and have already attracted significant interest from a range of local businesses with seven units currently under offer. We are confident that the remaining four will also be put under offer before the units are completed, helping to bring new jobs to the area and boosting the local economy.
"Bellway are already on site establishing marketing suites and putting in infrastructure. We are both looking forward to delivering a scheme that will breathe new life into this previously derelict site as well as the surrounding area."