WORK on the second phase of the On the Banks masterplan at Burnley's historic Weavers’ Triangle is to start after the council released £1m from its budget.

Among work planned for the coming year is the development of Slater Terrace, Sandygate Mill, Sandygate weaving shed and the former Waterloo pub, as well as works in Sandygate Square, and highway improvements to Sandygate and Trafalgar Street.

Coun Shah Hussain, executive member for regeneration and economic development, said: “The regeneration of the Weavers’ Triangle is moving ahead.

“It is being transformed into somewhere that looks to the future while, at the same time, keeping its historic heart and I’m very excited.

“The University Technical College (UTC) in Victoria Mill is about to open to its first students and we have an ambitious vision for neighbouring Slater Terrace that will see it become attractive and sought-after office space.

“This release of £1m is part of the ongoing regeneration of that area and will help fund further improvements.”

Burnley Council’s executive committee is recommended to release £1.023m from this year’s council capital programme to help fund the work, when it meets next Tuesday.

The news comes after plans for a 3,000-seat concert area took a blow, with a bid for funding from the Government’s Regional Growth Fund turned down.

Burnley audio engineering firm AMS Neve and venue operators Live Nation are involved in the scheme and bosses are still confident it will go ahead.