A MULTI-MILLION pound superstore is set to be built next year, creating 150 new jobs.

The old site at Bury Road, Rawtenstall, is to close with a new modern site - almost double the size of the old store - opening at the other side of town.

Asda has completed a deal to purchase Hurstwood-owned land at Lower Mills, off St Mary's Way.

The existing 25-year-old store will stay open until the new building is complete and ready for opening.

The development will secure the futures of 350 existing workers as well as creating an additional 150 new jobs.

Tony Dyer, regional property manager for Asda, said: "Asda has been trading in Rawtenstall for over 25 years and are looking forward to being able to make a significant re-investment in the town.

"Subject to reserved matters planning approval, we will be bringing our customers a fabulous new modern store which will offer a wider range of goods within a spacious modern environment. The existing store will remain open until the new store is ready to open its doors.

"If all goes well, the new store could be up and running by this time next year."

Rawtenstall-based Hurstwood Group chairman Stephen Ashworth said: "This is the biggest deal in the history of the Hurstwood Group and comes as the result of long and detailed negotiations since planning was obtained four years ago.

"The new Asda store will act as a major catalyst for regeneration in the town, and we are delighted that we have played a key role in facilitating this.

"We believe that this is just the beginning of a new era of economic growth for Rawtenstall and are committed to promoting further development in the town."

Asda has already been granted outline planning consent for a retail and leisure development.

Later this month, the company will submit a detailed planning application to establish final details of the scheme including design, landscaping and the car park layout.