Regeneration of Shrewsbury Flaxmill Maltings Delivers Social and Economic Benefits
New report reveals economic benefits of the regeneration of the Grade I listed Shrewsbury Flaxmill Maltings.
A new independent evaluation report published today (23 January) reveals economic, social and environmental benefits of Historic England’s transformation of a derelict Shropshire mill into a thriving cultural and commercial centre.
Shrewsbury Flaxmill Maltings, known as the “Grandparent of Skyscrapers,” is the world’s first iron-framed building. Originally a flax mill and later a maltings, the site fell into dereliction 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, cultural spaces and a community café.
The evaluation by AMION Consulting reveals the 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.
The restoration has created 930 square metres of cultural space and 2,259 square metres of commercial office accommodation. This has led to 62 full-time equivalent jobs, with the potential for this to increase when additional floors are leased to businesses.
AMION Consulting found the project achieved exemplary conservation standards, earning 18 national and international awards including RIBA and Europa Nostra recognition. The Main Mill was successfully removed from the Heritage at Risk register.
Visitor numbers reached 18,340 in-person visits over the past year. Including café visitors, total footfall approaches 56,000 annually, contributing to local economic activity and community engagement.
The evaluation also reveals social benefits, including reduced crime and improved community pride.
The restoration of Shrewsbury Flaxmill Maltings aligns with the government's mission to kickstart economic growth across the United Kingdom. Heritage-led regeneration demonstrates how restoration projects can deliver jobs, attract investment, and strengthen local communities.
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