A £1.2 million investment is set to breathe new life into a historic part of the Leeds and Liverpool Canal in Burnley.

Nelson-based NEL Construction has secured a deal with British Waterways to redevelop derelict Mile Wharf into a flourishing commercial and leisure centre.

The company is planning to transform Grade II listed buildings into stylish offices and to build a canalside pub and restaurant.

Up to a hundred new jobs could be created by the redevelopment which will also turn the site into a tourist attraction.

Mile Wharf, formerly known as Finsley Wharf, is situated approximately a quarter of a mile from Burnley town centre. The two-acre site is at the southern end of the part of the canal that is known as the 'Straight Mile'.

NEL director Mike Burridge has promised that the historic buildings within the site would be carefully restored under the regeneration blueprint.

Construction work is scheduled to begin in July and the company is hoping to have completed the office redevelopments by the end of the year.

The plan also calls for a further two-storey building that will be available for a variety of uses, studios and the pub and restaurant. Extensive car parking has been planned as an integral part of the scheme.

Mr Burridge said NEL had been interested in the site for some time. "This is a very exciting time for Burnley and NEL Construction," he said. "It is a superb site with enormous potential and we are delighted that our proposals have been accepted by British Waterways.

Neil Weaver, of British Waterways' retained agents Taylor Weaver, said: "NEL's scheme will bring much-needed investment into a run-down area of Burnley.

"Completion of the scheme is likely to create a number of new jobs which will obviously boost the local economy."