The Factory 2050 project will be the UK’s first fully reconfigurable assembly and component research factory.

It will be designed to be capable of rapidly switching production between different high-value components and one-off parts.

The circular building will house a range of technologies, including advanced robotics, flexible automation, unmanned workspace and 3D printing.

The application now requires final approval from the Communities Secretary Eric Pickles.

Graham Sadler, Managing Director at Sheffield Business Park, said: “The construction of Factory 2050 will send out a clear message of our ambition to maximise the benefit to the City Region of this vital location.

“Individual sites on the remainder of Phase 2 will be available this autumn and plans are well underway for the speculative development of four high quality production units.

“These are due for completion in mid-2015, building on the University’s vote of confidence in Sheffield Business Park.”

The University of Sheffield has already signed a deal to secure a total of 50 acres of land at the business park – a move which will support the progress of exciting plans to create a critical mass of hi-tech, advanced manufacturing businesses along the Parkway corridor.

A detailed master plan for the entire 50 acres will be submitted to Sheffield City Council’s planning department in the next few months.