The Value of the Regeneration of Shrewsbury Flaxmill Maltings 

Shrewsbury Flaxmill Maltings, known as the “Grandparent of Skyscrapers,” is the world’s first iron-framed building. Originally a flax mill and then a maltings, the site fell derelict after closing in 1987. After nearly two decades of unsuccessful attempts to restore it, Historic England stepped in as the “owner of last resort” in 2005.

Thanks to £20.7 million from The National Lottery Heritage Fund, funding from Historic England, and support from partners, the Grade I listed Main Mill and Grade II Malting Kiln were transformed into offices, café and visitor centre.

An independent evaluation by AMION Consulting Ltd shows that the restoration project has delivered a range of economic, social and heritage benefits.

The evaluation reveals that the project had:

  • Driven economic growth. Total economic benefits of the regeneration project are £49.6 million against public sector costs of £36.4 million, creating £13.1 million in net value. For every £1 spent the project created £1.36 worth of benefits such as jobs, tourism and heritage preservation.
  • Created jobs. The creation of 930 square metres of cultural space and 2,259 square metres of commercial office accommodation has led to 62 full-time equivalent jobs, with the potential for this to increase as additional floors are leased to businesses.
  • Engaged local communities and visitors. There were 18,340 in-person visits over the past year. Including café visitors, total footfall approaches 56,000 annually.
  • Achieved exemplary conservation standards. The regeneration won 18 national and international awards including RIBA and Europa Nostra recognition. The Main Mill was successfully removed from the Heritage at Risk register.

The evaluation shows that the restoration of Shrewsbury Flaxmill Maltings provides a valuable model for future heritage-led regeneration projects across England, demonstrating how strategic investment in historic buildings can deliver lasting economic and social benefits for local communities.

Download report and appendices

You can also download a brief case study of the success of the regeneration project.