Councillors have approved the multi-million pound redevelopment of Blackburn's 'magnificent' Exchange building.

The proposals were praised as a major improvement to the town centre, as Blackburn with Darwen Council's planning committee granted permission for the upgrade to the decaying Grade II heritage listed complex in King William Street.

The £9 million-plus scheme will transform the building, which opened in 1865 as the town’s cotton exchange, into community and work spaces with an upgraded café.

The main storey will be restored to its Victorian Gothic glory and become an open plan performance, exhibition and meeting space.

Lancashire Telegraph: A cross section of how the restored Cotton Exchange will lookA cross section of how the restored Cotton Exchange will look

A new mezzanine floor with a café/bar will be created while the 1920's block - used as back office space in the building's days as the Apollo 5 cinema - will be refurbished with a roof terrace and bar.

The existing imposing octagonal towered main entrance at the junction of King William Street, Exchange Street and Museum Street will be restored.

The council's growth boss, Cllr Quesir Mahmood, said: "I am really delighted to see this building brought back into use.

"It is iconic and historic.

"Everyone who visits the area comments on the magnificence of the building."

Lancashire Telegraph: A view inside the buildingA view inside the building

His Conservative counterpart, Cllr Paul Marrow, said: "This is one of the iconic buildings of the town centre opposite the town hall.

"This proposal is ideal and will bring it back to where it should be."

Ewood Labour Councillor Jim Casey said: "It is a really historical building in the town centre. It is a well thought out plan. We are all really pleased at the design and want to get on with it."

Committee chair Cllr Dave Smith described the redevelopment as "fantastic".

Shear Brow and Corporation Park 4BwD's Cllr Suleman Khonat added: "This is really good to see."

The extensive refurbishment was applied for by Caer Butler, director of operations for The Exchange and Re:Source, the charity behind the project.

The approval includes a set of conditions aimed at preserving the building's historic and architectural significance.

A report to councillors says: "The proposed developments involve the complete refurbishment of the Grade II listed former Cotton Exchange/Apollo Cinema.

"The proposed works include alterations to create a mixed-use community and performance space.

"Partial demolition of the 1920's block roof would be implemented.

"The application site is a Grade II listed building that is located within Blackburn Town Centre and the Northgate Conservation Area.

"Internally, the building is currently in a state of disrepair.

"The wider proposals would see the retention and repair of the key structure, retaining the important detail and providing a new viable re-use for the important town centre building.

"Most importantly, the scheme will help sustain the longer-term significance and conservation of the building."

Ms Butler said: "‘We are delighted with the successful outcome of the approval for The Exchange’s whole building planning application.

"This momentous moment enables Re:Source Blackburn, the charity that owns The Exchange, to move full steam ahead with the plans to see it becoming a vibrant venue once again in the town centre of Blackburn, to finally see this magnificent building being brought back to life.’