A joint venture between Burnley Borough Council and Barnfield Construction, the plans include the conversion of the derelict industrial buildings, Sandygate Mill and Slater Terrace into offices.

Designed by Campbell Driver Partnership, the 25,000 sq ft project also includes the conversion of Sandygate weaving shed into a car park and outline consent for the conversion of the derelict Waterloo Hotel into commercial floorspace.

Construction is due to start in spring 2014.

Gareth Smith, Project Director, of Barnfield Investment Properties, said: “We are committed to the ongoing regeneration of Burnley and the approval of this phase of development means we can continue with the redevelopment of Weavers Triangle and help revitalise this part of town.

“By securing planning permission in this timescale we will be able ensure Regional Growth Funding can be used to help deliver these plans successfully.”

Daniel Jackson, Associate, of Indigo Planning, said: “This proposal will transform the deteriorating listed Slater Terrace and Sandygate Mill which has been empty for over 20 years and will help provide significant benefits to the area including new jobs, improved connections through the site as well as providing significant infrastructure, highway and environmental enhancements.”

This £12m project is part of the wider regeneration of the Weavers Triangle, one of the finest surviving Victorian industrial landscapes in the UK.

The conversion of a Grade II listed Victoria Mill in to a University Technical College, the first phase of the planned regeneration, is currently under construction.

The next phase of development will include elements such as student accommodation and leisure.