Under the plans, the buildings on the 0.97 hectare site will be redeveloped into four new buildings to create a 52,000 square feet business centre and 148 new flats as well as new public open space.
The scheme will be delivered by business space provider Workspace Group, which has worked with the Council to draw up plans for the site. Workspace Group said it expected the scheme to create 350 jobs on the site.
The Council's planning officers said in the committee report (147-page / 1.91MB PDF) that the developer proposed to take a "light touch" approach to the refurbishment of the existing buildings to retain their "architectural integrity and historic character".
The officers said that, although the proposals had raised issues in respect of a reduction in employment space and the introduction of a residential development, they considered the scheme to make a "significant positive contribution" to the Borough and to the "established creative hub" in the area.
"We are delighted to have secured approval for the Faircharm project," said Workspace chief executive officer Jamie Hopkins in a statement. "This is part of our wider redevelopment programme to enhance both core operational income and capital values by repositioning properties. The Faircharm development will provide tailored space to the needs of small creative businesses, a capability which is at the heart of Workspace's key strengths," he said.
