Site owner Royal London Asset Management and development partner Industrial Securities have been awarded £4.7m from ERDF and the NWDA for the latest phase of Atlantic Park on the former Rolls-Royce plant in Sefton.
The grants are made up of £3.1m European Regional Development Fund and £1.6m from the North West Development Agency.
The money will pay for site preparation and infrastructure works on Dunningsbridge Road to bring forward 54 acres with the potential to develop 805,500 sq ft of office and industrial space.
An existing single-storey former Rolls-Royce administration building will be refurbished to provide 35,000 sq ft of offices named Caspian House.
Gareth Dickinson of Royal London Asset Management, owner of the site, said: "Investment of this scale allows us to kick-start the next phase of our speculative development and is a vital step towards making Atlantic Park a key employment site.
"A 36-week programme of works can now begin and will see us bring additional high quality space and much needed choice to the office market in the north of Liverpool. Caspian House will be completed by the end of the year and the site wide infrastructure will be in place by March 2011."