The project will transform the five-storey mill known to create a facility for Chinese companies and those from emerging markets in Asia to exhibit and sell goods to the UK and Europe.
The plan, known as Red Warwick, has approval from Rochdale Borough Council and will create around 200 new jobs as well as developing restaurants and cafes in the space.
Richard Farnell, leader of Rochdale Borough Council, said: “Securing a £50m investment for this important site really confirms the growing confidence investors have in our borough. The council has worked extremely hard to get to this stage and I am grateful for the faith that G Suite is showing in our borough.
“This is a game changer for Middleton and the wider borough because as well as restoring a historic landmark building and creating jobs for our local residents, it will bring companies from around the globe to Greater Manchester. It’s clear that the potential benefits of this scheme are far reaching.”
The project was officially launched in China with 19 companies already signed-up, including several small to medium sized enterprises and a global brand.
The plan will also involve the demolition of the 1960s office building next to the site. Work will begin on this in January 2016.
G-Suite director Robert Wong said: “I am extremely excited with today’s announcement that planning consent has been given. This means we can commence the renovation of the grade II-listed former textile mill into a landmark the people of Middleton and the surrounding areas will be proud of.”
“Red Warwick will be home to an international trading hub that will develop the two-way relationship between Asia and the UK’s Northern Powerhouse. Our unique trading model will bring the very best of Chinese and Eastern manufacturing to the independent retail and wholesale market.”
“We look forward to working with Rochdale Borough Council to develop Red Warwick, our third project in the North West.”
G Suite expects that the whole scheme will be operational by early 2017