Burnley Borough Council has been awarded £4.9m by the NWDA.
The Weavers’ Triangle is the name given to a core 22ha section alongside the 1.4km stretch of the Leeds-Liverpool Canal that runs through Burnley. It is recognised as one of the best-preserved and most important Victorian industrial districts in the North West and the acquisitions, on both banks of the canal, encompass the single greatest concentration of heritage buildings in the Triangle.
By acquiring the land, the Council aims to secure private sector investment for a mixed-use development that will offer substantial new space for businesses, new homes, leisure and cultural uses and high-quality public spaces.
The acquisition is part of the wider £300m Weavers’ Triangle regeneration programme, which is expected to deliver – with funding from a range of sources including the Heritage Lottery Fund and the Council’s capital programme – comprehensive regeneration of an area containing a dense cluster of Victorian industrial buildings.
Steve Rumbelow, Chief Executive of Burnley Council, said: “This is great news for a site that is important to Burnley economically, culturally and historically. It is a proud part of Burnley’s past that we will ensure is an important part of Burnley’s vibrant future.”
“Over the next 18 months, we will be putting together a prospectus for the site, so that when the economy is on the up, we will be able to attract a new developer to join those already building new houses, new schools, retail and business parks, and who share our commitment to making Burnley a great place to live, work and invest.”