Technology hardware distributor Exertis is to build a 540,000 sq ft national distribution centre at Eshton's Burnley Bridge Business Park.
The freehold deal for an undisclosed sum was completed following granting of planning consent for a reserved matters application for the warehouse, which will have a footprint of 450,000 sq ft. Mezzanine storage and offices will take the total size to 543,620 sq ft mezzanine, making it one of the largest lettings in the regional shed market in the past two years. Start on site is scheduled for 1 June.
Exertis distributes more than 350 technology brands and works with 14,000 customers across Europe. It will be by far the largest occupier at Burnley Bridge Business Park, following deals with Birchall Foodservice, YESSS Electrical and Equinox Building Services.
The deal leaves only six acres to develop at the 70-acre park, next to junction 9 of the M65.
Gerry O'Keeffe, managing director of Exertis, said: "We searched all over the UK for a suitable site, but here we can custom-build our own premises whilst also maintaining our existing workforce by not moving too far away from our current base at Altham Business Park.
"The new distribution operation we will build at Burnley Bridge Business Park will prepare the company for further growth while giving us a strategic geographical base in East Lancashire that complements our existing facilities in Raunds and Elland."
Construction work will be undertaken by Bowmer & Kirkland. Exertis aims to become fully operational at the site by early 2017.
James Chapman, managing director of Eshton, added: "We believe this is the largest distribution property deal in the region this year and it is not only great news for Burnley Bridge Business Park but also for the local area.
"The fact that the park has attracted a major player of this calibre to establish such a substantial distribution hub here demonstrates once again the huge potential of this site."
Burnley Council's chief executive, Pam Smith, said: "The council is working hard to promote the borough and our development sites to attract new investment and continues to invest in new infrastructure that can rival sites across the region. Burnley Bridge is set to create many new jobs for the town and we look forward to our continued partnership working with Eshton to secure further occupants for the site."
The development received a £3.85m grant from the European Regional Development Fund and support from Lancashire's Growing Places Fund.
The architects are Kilman, Plowman & Partners; the developers' agents are Dove Haigh Philips and Trevor Dawson and the employers agent/QS is Rex Proctor & Partners.