Burnley council has approved plans for a distribution park to be built next to Junction 9 of the M65.
The 70-acre Burnley Bridge Business Park, being developed by Leeds-based Eshton Group, will be located on the former Hepworth's site at Pollard Moor on the outskirts of Hapton and Padiham.
The park will comprise 680,000 sq ft of mixed-use employment space, including large industrial units of up to 400,000 sq ft.
Eshton said it will primarily seek to attract light industrial and distribution-based occupiers. There will also be offices, a convenience retail store, crèche and hotel.
The agents for the development are Dove, Haigh Phillips of Leeds and Trevor Dawson of Blackburn and Burnley.