The Manchester set will be joined by developer Priority Sites to create 11,000 m2 of business space on part of the 31-acre Morlands business park.
The scheme will offer new space for a range of businesses, from start-ups to medium-sized enterprises of 40 to 50 people.
James Howard, development manager at Urban Splash said: 'The Morlands site has tremendous potential to once again become an important business venue.
'We believe that by combining the listed buildings with the new properties we can create a genuinely exciting environment that can meet the needs of companies large and small alike.
'At the same time the designs envisaged will allow real flexibility for companies as they grow and need more space,' he added.
Urban Splash intends to submit a planning application in the summer; however, the public and community groups will be able to find out more about the plans on 18 January at Glastonbury Town Hall.