A HISTORIC town has been given a £4.9million grant to protect it from flooding and improve the look of its central area.

The cash for Padiham from the Lancashire Enterprise Partnership will also clear the way for the development of 250 homes on the former Baxi Potterton factory site in Wyre Street.

Much of the money will be spent on flood defences along the River Calder and Green Brook to protect the town from any repeat of the Boxing Day 2015 floods which devastated the centre.

They are also essential to the housing scheme on the Baxi site going ahead.

The remainder will be used to expand and enhance the existing £2million 'Crafting the Future' Townscape Heritage Initiative on ‘The Hill’ stretching up Church Street from the Town Hall to the Slade Lane roundabout.

It will improve the look of historic buildings and roads creating an area of special architectural interest to help existing traders and attract new businesses to the town centre.

The £4.9 million was approved by the LEP board from its Local Growth Fund last night/ Tuesday night.

Burnley Council leader Cllr Mark Townsend said: "This is fantastic news and a massive boost for Padiham. It shows confidence that the town has a bright and prosperous future to go with its historic past."

Liberal Democrat group leader Cllr Gordon Birtwistle said: "This is excellent news for the town. The flood defence work is essential to turn the long-derelict Baxi site into housing."

Burnley Council chief executive Mick Cartledge said: “I’d like to thank the Lancashire Enterprise Partnership for giving these schemes, and Padiham as a whole, a massive boost.

“This is a significant investment and a major step in helping develop new flood defences, create almost 250 new high-quality homes, and attract new businesses and investment by improving the look and vitality of the town centre linking into the THI on ‘The Hill’.”

Graham Cowley, chair of the LEP’s Growth Deal Board, said: “By supporting the 'North-West Burnley Growth Corridor' in Padiham we are not only helping to protect existing residential and commercial premises, we are ensuring the area can accommodate more growth and investment in the future.”

Mr Cowley added: "The Local Growth Fund is an enabling investment initiative designed to support a wide range of projects and programmes across the whole of the county."