Seddon Developments has been given the go-ahead by South Ribble Council to build 19 speculative business and industrial units at Matrix Park in Chorley.
The 43,000 sq ft scheme in Matrix Point will include five units ranging from 3,600 sq ft to 12,000 sq ft and 14 smaller units of 800 sq ft each, aimed at start-up businesses and SMEs.
Construction is due to start on site in April.
Matrix Park is part of the Buckshaw Village development by Harrow Estates and Wilson Bowden and is made up of more than 1.4m sq ft of commercial space on a 60-acre site. In 2011 Seddon purchased a 4-acre site from Harrow within the park.
Indigo Planning and AEW Architects advised Seddon.
Jamie Seddon, managing director of Seddon Developments, said: "This permission marks a new phase in our involvement at Matrix Park and reflects wider economic growth. We understand the needs of smaller, entrepreneurial businesses and hope that providing appropriate space will help local enterprises grow and develop."
The new units are expected to be ready for occupation in October 2015.