FI Real Estate Management (FIREM) received planning permission from Chorley Borough Council in July to redevelop the 21-acre site of the old Botany Bay mill building.
When complete, the scheme will deliver 33 units for light industrial and commercial use across 405,000 sq ft and a drive-thru food outlet.
The main contractor will by FIREM’s in-house construction arm, FI Construction, which until last year was called Botany Bay Developments.
FIREM managing director Tim Knowles said the Botany Bay development was one of the most important in the company’s 40-year history.
“We want to create the highest quality industrial and commercial space for local businesses and those from further afield looking to make Lancashire their home,” he said.
“Botany Bay is an iconic location and the development will be built in two phases. The construction costs for phase one will be £26m and the fit-out costs will add an estimated 10% to the total bill. We’ve already significantly grown our FI Construction arm to deliver it.”
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