Luxor Group is set to buy a grade II-listed asset in St Helens.
The Beechams factory and office building – the latter of which is the subject of the deal were built between 1884 and 1887 and were famous for producing the well-known Beechams pills.
The company was a major employer in the town, with the site having continued to produce pharmaceutical products even after the company merged with SmithKline Beckman in 1989.
In 1994, the factory closed its doors, with the Beechams estate becoming a part of the St Helens College campus.
Since then, the establishment has invested significantly in the upkeep and refurbishment of both buildings.
Luxor Group is buying the clock tower, with the factory next door continuing to fall under the college's ownership.
Paul Nicholson, owner of Luxor Group, said: "As the building is grade II-listed, we have actively sought the advice of heritage experts to ensure we protect the fabric and characteristics and features of both the exterior and interior of a building that totals 27,000 sq ft.
"We plan to retain the exterior of the building and hope to enhance some of the existing features, for example, reinstating the old disused doorways and windows in the currently unused basement."