PLANS to turn the historic buildings in Burnley's Weavers' Triangle into the "Salford Quays of East Lancashire" could unlock the full potential of the town centre, a report claims.

The scheme, which has yet to start, could help bring a potential jobs and investment bonanza to the area and help raise Burnley's image and profile.

Hopes for the impact of the project were revealed in a review of Burnley's Economic Development Strategy - a document setting out the economic direction of the town - discussed by the council's executive last night.

The purpose of the review is to look at the local economy and make sure the council can respond to any changes since the strategy was set out in 2000.

The announcement by Rossendale firm the Hurstwood Group earlier this year that it had bought the Weavers' Triangle site is seen as one of the key factors in Burnley's future.

The site includes the former Clock Tower Mill site, Lord's Printers, Slater's Terrace and land in Wiseman Street.

Proposals are being developed to revamp the area which will include restaurants, bars, offices and housing.

The triangle is one of the oldest collections of industrial buildings in the country, dating back to when Burnley was at the centre of the world cotton weaving industry in the 19th century.

In recent years, the area, blighted by neglect, decay and vandalism, has been branded an eyesore at one of the key approaches to the town centre.