Maryland Securities won detailed planning consent to redevelop the 15-acre Eckersley Mills and Swan Meadows in 2017 but has now sold the site.
Located within the Wigan Pier Quarter, the site has permission for a 1m sq ft mixed-use development.
Those plans featured 315 homes, offices, commercial and cultural facilities, a new hotel, cafes and restaurants.
Having acquired the site for an undisclosed sum, Heaton Group plans to work up fresh plans to create “world-class amenities for people to live, work and play”, the developer said.
Architects KMA Studio and planning consultant Paul Butler Associates have been appointed to work on the scheme.
Heaton Group hopes to retain the businesses and tenants that are currently based at Eckersley Mills.
“We are excited to have acquired this fantastic site in an amazing location with so much potential,” said managing director John Heaton.
“It will be an honour to create a new chapter for Eckersley Mill and as a proud Wiganer I can’t wait to bring something hugely special to my home town.”