The success of the £45.5m Magna Adventure Science Centre in Rotherham, South Yorkshire, is likely to lead to the regeneration of land at a derelict steelworks nearby.
Magna, the trust set up to oversee the Wilkinson Eyre-designed project, is in negotiations to buy 10-15 acres from steel maker Corus.

Magna intends to use the land for a business park that could be as large as 33,000 m2.

A 4000 m2 exhibition centre is likely to be included in the business plan, which is expected to be completed next year.

Stephen Feber, chief executive of Magna, believes the move into developer/landlord status will secure the future funding of the adventure centre, one of the most successful Millennium Commission projects.

Feber said: "This will give Magna Trust a secure future.

"You have to exploit resources – ours is land."

Magna is drawing up a European Union objective one funding application to part-finance the purchase of the land. The trust intends to enter a joint venture to complete the financing of the deal.

Ian Hawkbridge, Rotherham council's economic initiatives officer, said "a lot issues" affected the value of the site. He hinted that objective one funding for deprived areas is likely to be secured as the purchase will "bring a derelict site back into active use" and a business park would be a "strategic economic zone for the M1 corridor".