Hurstwood has been granted planning permission by Rossendale Council for three retail units in the landmark Heritage Arcade in Rawtenstall town centre.
The approved plans provide for units of 2,700 sq ft, 2,400 sq ft and 1,500 sq ft. It is hoped that the permission will be another step towards bringing the currently derelict building back into use.
This area of Bacup Road has come back to life over the past 12 months with Hurstwood successfully letting the two properties next door to Heritage Arcade to a local bar operator.
The two premises have undergone extensive refurbishments and now cater for the residents of Rawtenstall as the popular bars Zazu and Vogue.
Andrew McCormack, surveyor at Hurstwood, said: "We hope that we can now progress with the building and secure some long term tenants who will bring sought after amenities and further employment to the town centre."
Formerly known as The Picture House and originally opened in 1920, the building is one of the most historically important in Rawtenstall. Hurstwood will seek to retain the periodic architectural features.