Work has begun on the £7m development of a 29,500 sq ft Tesco food store in Little Lever, Bolton by Peveril Securities and RED Partnerships.
Peveril Securities alongside Manchester-based Real Estate Development Partnerships acquired the three-acre site in November 2013 for £3m.
Contractor Bowmer & Kirkland is developing the food store, which is due to complete in July 2014 and is expected to create up to 150 jobs.
This acquisition is the third joint venture for Peveril Securities and Real Estate Development Partnerships, who joined forces in 2010 to develop Halls Retail Park, Bury and more recently the 130,000 sq ft mixed-use scheme Howard Town in Glossop, which has been brought to market by Tushingham Moore.
Damian Flood, managing director of Real Estate Development Partnerships, said: "This type of part progressed development strongly appeals to the business model we have created with Peveril Securities. We look forward to seeing the development progress over the coming months."