Work is expected to start by the end of the year on a significant employment scheme in Derby that could create 3,300 jobs and generate £180m a year.
The Derby Triangle project, which is being led by developer St Modwen with Network Rail, aims to redevelop land near Pride Park - Derby’s leading business park, home to 12,000 employees and businesses including Rolls-Royce, HP, Derwent Living and Derby County Football Club.
Outline planning permission for the 50-acre site was granted in April and work will start once section 106 and 278 agreements are finalised.
The scheme includes approximately 780,000 sq ft of offices, warehouses and industrial space as well as a pub, restaurant and car showroom.
Clearance work is due to start later this year, with occupation of the first new commercial spaces expected at the end of 2018 or the beginning of 2019.
Peter Rudd, development director at St Modwen, said: "This is a major milestone for the progression of our joint venture with Network Rail and comes following detailed discussions with the city council since 2014.”
"We have already received significant interest from potential occupiers and expect this to increase now that progress with planning has been made.”
Planning approval was given following agreements regarding improved access to the site which form part of the A52 improvement works which will improve traffic flow in the area.
The site is being marketed by Savills and Innes England.