MILLIONS of pounds of extra investment will be required to ensure an East Lancashire landmark is turned into an employment or homes hub.
Brierfield Mills will now be under the control of a specially-created subsidiary of Pendle Council’s enterprise arm, PEARL2.
But the £1.5million secured for the former Smith and Nephew site from the Homes and Communities Agency, is only the beginning of regeneration efforts, borough councillors have been told.
Council leader Coun Mike Blomeley said bids would now be drawn up for significant funding from the Regional Growth Fund (RGF) and European Regional Development Fund (ERDF), alongside the private sector.
“We also hope we can secure some lettings for Brierfield Mill to provide some income over the next few months,” he added.
Coun Blomeley, who has announced he will be retiring as council leader on health grounds, said it would be Pendle’s ‘flagship regeneration project’ for the next 10 years.
The grade II-listed mill has been vacant since medical supplies firm BSN closed down operations more than six years ago.
Work is also progressing on the conversion of the nearby Lob Lane Mill into housing and proposals are being formulated to revive empty land off Clitheroe Road.