Contractor J Waring & Sons has started on site with Roundhouse Properties' latest business village, a 58,700 sq ft scheme in Bamber Bridge south of Preston.
The 2.3-acre site next to B&Q at South rings was bought from Muse Developments and planning permission was granted in December.
Roundhouse has consent for 43 office and industrial units, ranging from 600 sq ft to 2,500 sq ft.
The architects and structural engineers are David Taylor and Neil Ainsworth at Partington Associates and the planners were Nick Lee and Annabel Partridge at NJL Consulting.
The new Momentum Business Centre will complement Roundhouse's neighbouring South Rings Office Village and South Preston Office Village schemes.
Jeremy Lefton, director of Roundhouse Properties, said: "Following the success of our Momentum Business Centre Models, we're delighted to be repeating this formula with the development of Bamber Bridge, operating in an area that is in line for fast track growth.
"Lancashire has tremendous opportunities for growth and development, and the new Business Centre provides an excellent location with immediate access to the main motorway networks, linking the region's largest cities and towns.
"All our developments try to focus on three key attributes – location, flexibility and affordability. This approach has proved extremely successful, giving occupants the platform to grow and succeed. Businesses or investors can acquire the properties through a lease, purchase or combination, being lease/purchase."
The first phase is expected to be completed by summer 2015. Units will be available to buy for £76,500 or rent for £6,000 a year.
The properties will be directly marketed by Roundhouse Properties, supported by Nick Kos from Bailey Deakin & Hamilton's, sole agent for the development.