Burnley Council has appointed law firm Cobbetts LLP to advise on the regeneration of the Weavers' Triangle area of Sandygate.
Located around the Leeds-Liverpool Canal in Burnley, the council plans a mixed-use development in the area to include canal related leisure activities, including arts and cultural offerings, as well as restaurant and food outlets, a visitors centre and sports facilities.
The redevelopment will also include education, training and business development facilities as well as offices, managed workspace and additional housing.
In April last year the North West Development Agency awarded the council up to £4.9m to acquire land and premises from four parties in the Weavers' Triangle area.
The sites and buildings bought included Victoria Mill, Sandygate Shed, Waterloo Hotel, Slaters Terrace and Engine House, Wiseman Street Yard and the former Clocktower Mill site owned by the Hurstwood Group; sites and buildings owned by Dexter Paint holdings; land to the north west on Trafalgar Street.
Tiffany Cloynes, partner and head of public sector at Cobbetts, said: "We are absolutely delighted to be working with Burnley in connection with this project, which provides an excellent opportunity to maximise and preserve the rich cultural heritage and uniqueness of this part of Lancashire, and to enhance the area's reputation not just as a tourist attraction, but as a centre of employment, learning and development for local residents."
The North West Development Agency's support also includes a contribution, in conjunction with other heritage funding secured by Burnley Council, towards the reasonable costs of repair and maintenance to secure the fabric of the buildings while they remain undeveloped and at risk of further deterioration.
The NWDA's grant is also being put towards the preparation of a prospectus and development brief, which is being used to seek private sector investment in the opportunity.
The redevelopment is expected to take approximately 12 months to complete.
Weavers' Triangle is one of the best preserved and most important Victorian industrial districts in the North West.