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Work begins on transforming derelict London factory building into startup hub

Work has begun on a project to convert a gigantic factory building in east London into a centre for start-up businesses.

The Mayor of London has announced £12 billion government funding for the project in Silverton, which will involve the redevelopment of The Millenium Mills building.

The former factory building, which was once home to food manufacturer Rank Hovis MacDougall, has been out of use since the early 1980s.

Renovation of the old mill is part of a £3.5 billion project, led by the Silvertown Partnership, to transform the Royal Docks.

According to the BBC, plans include 3,000 new homes and the mayor claims 20,000 jobs will be created.

Boris Johnson, said: “The restoration of this great industrial monolith is another vital ingredient in the regeneration of London’s historic Royal Docks.

“We want to return this site to its former glory, supporting business and enterprise and breathing new life into an area of the capital that has been dormant for decades.”

It is intended conversion of the mill will be complete by 2017.

This was posted in Bdaily's Members' News section by Ellen Forster .