A DERELICT warehouse has been put up for auction as part of the redevelopment of the gateway to Hyndburn.' The Grade II listed Hargreaves Warehouse in Canal Wharf Works, Church, has been valued at £150,000.

The 19th century four-storey stone building is vacant after falling into disrepair, but property auctioneers Pugh and Co, believe it could be redeveloped into plush offices, artists' studios or high-class living accommodation.

The premises have been earmarked for regeneration under Hyndburn Council's Church and Oswaldtwistle Canal Gateway project.

Hyndburn Council have produced a plan for the area around the traffic lights at the Blackburn Road and Market Street junction in Church to encourage developers to the area.

The gateway' site includes the former Commercial Hotel and Hargreaves Warehouse, as well as the Europlast mill and Leeds and Liverpool Canal.

Terraced properties that stood near the Blackburn Road site have already been bulldozed under the Elevate scheme and the council is hoping to attract multi-million pound investment to create a distinctive gateway' into the area.

The Hargreaves Warehouse is owned by a London-based doctor and the council is keen to ensure a new owner will comply with their plans for the area.

Coun Tony Dobson, portfolio holder for regeneration, said: "The warehouse will most likely have to be used for commercial purposes as there are already a number of residential properties planned in the area.

"It would be ideal for accountants, architects or other professionals.

"We have been working to progress this project and are hoping to see the first set of plans submitted for official approval later this year."