Major transport services and vehicle supplier Alstom will vacate its current base on Strand Road, close to Preston docks.
The firm is moving to a new unit in Widnes, affecting 180 jobs.
Workers' union Unite is in negotiations with Alstom representatives regarding job transfers, the Lancashire Post understands.
The historic factory building was opened as Dick Kerr & Co in 1897.
A spokesman for Alstom said the firm is a tenant of the building and they plan to vacate by July 2018.
They added: “Alstom has recently opened its new Transport Technology Centre in Widnes in the Liverpool City Region. This site is the natural home for Alstom’s increasingly digitally focussed business and as a result we plan to centralise our technologies and capabilities in this new world class facility - increasing our productivity and competitiveness.
“This will mean leaving the Victorian Preston site by July 2018. Consultation is ongoing with the Trades Union and staff and it would be inappropriate to comment any further at this stage.”