BLACKBURN'S billionaire Issa Brothers have bought a major development site in Burnley for millions of pounds.

They have purchased Titanium Park near Junction 9 of the M65.

The purchase of the nine-acre site, the final phase of the Burnley Bridge Business Park, has been concluded by their Monte Blackburn Ltd property subsidiary.

It will now develop Titanium Park on behalf of EG Group founders Mohsin and Zuber Issa.

Monte Blackburn Ltd, which is already developing Frontier Park on the Blackburn/Hyndburn border near M65 Junction 6, bought the previously developed but vacant brownfield land from the Eshton Group for an undisclosed sum running into several million pounds.

The firm will now submit a new planning application to Burnley Council with a view to starting building industrial units from 14,000 square feet upwards early next year.

 

The Burnley Bridge Business Park showing the location of Titanium Park

 

News of the purchase by the brothers, who last year bought supermarket giant Asda among several acquisitions, has been welcomed by East Lancashire Chamber of Commerce chief executive Miranda Barker.

She said: "It is excellent news to see that the Issa brothers, who are major national and international business players, are still investing in East Lancashire.

"It will attract business and industry to the area."

Former MP and leader of Burnley Council's Liberal Democrat Group Cllr Gordon Birtwistle said: "This is good news. Hopefully they will invest in the park and bring high-skilled well-paid jobs to the borough."

Yorkshire-based Eshton, who originally created Burnley Bridge in 2013, developed the initial 100,000 sq ft speculatively before attracting firms including Exertis, Fagan and Whalley, Birchalls and Townsend Music to the business park.

In total, Eshton has constructed over 750,000 sq ft of units there.

Titanium Park represents the final phase in the scheme.

Monte propose to be on site in the next year with units available for occupation later in 2022 on a leasehold basis.

The firm are understood to have a 'vastly improved scheme' prepared after discussions with Burnley Council planners.

The new Titanium Park blueprint, now ready for submission to the authority, lowers the height of proposed buildings, lowers the main site level and includes a substantial landscape buffer, retaining the existing earth mounding between the site and the surrounding residential uses.

Michael Cavannagh of property agents Trevor Dawson Limited who handled the sale said: "This is exciting news for Burnley Bridge and the wider Burnley area.

"The development at Titanium Park will complete the final phase at Burnley Bridge. It is great to see ongoing developer confidence in the area for speculative development."

Monte Blackburn Ltd confirmed the purchase but declined to comment further.

Last week Blackburn with Darwen Council named a new link road connecting Blackamoor Road to Roman Road 'Issa Way' after the brothers.