Gosport Borough Council has voiced delight at a 225-job bonanza for the town.
CPG Logistics, which already employs 120 people at its Fareham Reach premises, Fareham Road, Gosport, is to build a 100,000sq ft warehouse at the site, once the home of top television company Ferguson.
The company currently operates from several units at Fareham Reach, as well as at other sites in Hampshire, and has its headquarters at Segensworth.
The council's planning sub-committee this week approved the proposal, and chairman Iris Binfield said: "This has to be excellent news for the people of Gosport.
"With this expansion comes new employment opportunities and CPG are looking to create another 225 jobs, potentially bringing the total number to be employed at their Fareham Road site to around 345."
Work will start shortly on the building, once approval for a traffic control scheme at the site access, to minimise any problems on the roads, has been approved.
The premises were originally the home of television and video company Ferguson, one of the largest employers in the borough in the 1960s.
It was taken over by Cyanamid (UK) Ltd in 1992 but few alterations were made to the site.
It was renamed Fareham Reach in 1998 and since then has seen many changes.
Office space has been let and much of the floor space of the present building now houses business units, turning Fareham Reach into a popular business park location.
Lynne East, publicity spokeswoman for the company, hailed the news: "This is an additional warehouse facility on the site, much needed as the company is growing quickly," she said.
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