Engineering giant NG Bailey is to move one of its businesses to new premises in a £5 million deal.

The Ilkley-based company is relocating its Bailey Prefabrication wing from its current Low Moor base into the new 53,550 sq ft warehouse and office unit at Park 26 Business Park near the M606.

Bosses say the move could help create up to 70 jobs and expect it to be fully operational by the summer.

Mark Andrews, chief executive of NG Bailey said: "It will mean we can quadruple our current levels of production and substantially increase our research and development capabilities."

NG Bailey works in building and engineering services, from design and construction to installation and maintenance.

Peter Willans, group property manager, said: "This move will enable us to create new jobs and to fulfil larger contracts. It was important for us to retain our skilled workforce, so we did not want to move far from the existing premises at Low Moor.

"Park 26, which is excellently located close to the motorway network, was therefore ideal for us."

The move is the latest success for the NG Bailey group, which last year was listed as one of the fastest-growing companies in the UK.

The company, which employs more than 4,000 people at 20 bases around the country, has been involved in several high-profile developments including the Bluewater shopping centre in Kent and the express rail-link between central London and Heathrow Airport.

Morrisons employed the firm to convert former Safeway stores after its takeover of the chain.

The firm will be moving to the site of the failed Yorkshire Transperience Museum, on which Park 26 is now based.

The £11.5 million transport museum was forced into administration in 1998, three years after it opened. The museum ran into difficulties when it received fewer than half the 200,000 visitors it expected to attract each year. Redundancies followed and eventually it built up debts totalling more than £1 million.

The land was bought from administrators by the Ogden Group, who refurbished the museum buildings into the business park.

Since it opened in 2003 the park has created 170 jobs and now has plans to phase in new office building.

e-mail: mark.casci@bradford.newsquest.co.uk