Blackburn's Issa brothers have bought another section of the Burnley Bridge Business Park near Junction 9 of the M65.
The latest multi-million pound purchase by their property arm Monte Blackburn is expected to create 900 new jobs.
The deal with Yorkshire-based property developer Eshton Group follows it gaining outline planning permission for the construction of a further 500,000 sq ft of industrial and warehousing space on the 32 acre brownfield site.
In October last year Monte bought the adjacent 10-acre Titanium Park plot from the same company but in June Burnley Council planning committee refused detailed approval for three industrial/warehouse units there.
The company is currently appealing that decision, taken by councillors against officers' advice, to the government's planning inspectorate.
Monte propose to develop a mix of built-to-order and speculative units at the Burnley Bridge South site, with an estimated gross development value of more than £50 million.
The firm hopes to attract new companies, new customers for existing local businesses, and new jobs.
It is phase three of the major business park with good motorway access which was begun in 2011.
The new development is expected to be as popular as phases one and two of Burnley Bridge Business Park, which saw Eshton develop 60-acres near Hapton.
Together, the first two phases have supported the creation of 1,000 jobs and delivered in excess of £60 million in inward investment.
Tenants include Exertis, Fagan and Whalley, Birchalls and Townsend Music.
Eshton managing director James Chapman said: “Over the past decade, the site that is now Burnley Bridge Business Park has been transformed from a vacant brownfield plot into a sought after location for industrial and logistics businesses, with excellent transport links, a rich network of supply chain partners and a skilled local workforce.
“The sale of this third phase to a local company that has a proven track record in delivering quality accommodation and attracting a great mix of occupiers continues that legacy of sustainable investment and business growth, which is great for jobs, great for local businesses and an ideal catalyst for further investment and growth.”
Alex Kenwright, Monte Blackburn Ltd's development manager, said: “We are delighted to be working with Eshton again and looking forward to delivering this scheme to the occupier market, which remains strong in this area of Lancashire.”
The price of the purchase has not been disclosed but it believed to run into millions of pounds.
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