Alard Properties has won planning consent to build a major mixed-use development close to the town centre of Leigh, Greater Manchester.
To be known as Bridgewater Place, the scheme will transform 25 acres of aging industrial land into a commercial and residential location following approval of an outline planning application and accompanying masterplan by Wigan Council.
The masterplan, prepared by HOW Planning with Taylor Young on behalf of Alard includes 103,000 sq ft of offices and light industrial space, 320 family homes, and 6,500 sq ft of small local retail units.
The site's canal frontage will also be improved to create a family-friendly area incorporating two acres of open space and natural landscaping.
Tony Goddard, chief executive of Alard, said: "We are delighted to receive wholehearted approval for our proposals for Leigh and look forward to initiating the next stage of the process. However, this does not mean that our existing tenants need to vacate their premises overnight. These projects take time and we intend to fully discuss the timescales with our current occupiers and work with them to arrange a managed move to a suitable alternative in the future.
"Similarly, since buying the site in 2000 we have been very keen to ensure that Christchurch CofE school had a better future than its current situation of being located on the edge of a very busy industrial estate. These proposals, whilst transforming this aging part of town into a modern, vibrant commercial and residential area, will also provide the opportunity for the school to expand following our donation of extra land".
Alard is owned by Brian Scowcroft, who moved into property in 1990s following the sale of the family business, Swinton Insurance.
Gary Halman, partner at HOW Planning, said: "This is a great scheme which will significantly contribute to the ongoing regeneration of the area. Approval of the masterplan is a major step forward for Alard Properties who will be investing heavily in the area to create a thriving new community."
Alard also owns Kingmoor Park Wrexham and the company's flagship industrial estate Kingmoor Park in Carlisle.