THE transformation of a derelict island of mill buildings into 124 Manhattan loft-style apartments has begun.

Empire Property Holdings, the investment company that purchased the Globe Works site in Bolton town centre earlier this year, says the massive redevelopment project will take 18 months to complete.

The landmark site in Lower Bridgeman Street had a banner on its roof for years reading 'mill for sale', but is now on the way to becoming a high-quality housing complex.

Paul Rothwell, managing director of Empire said, “We are committed to providing high quality, low cost rental properties in town centres.

“There is a huge demand for quality, affordable accommodation and it is an essential part of the city centre’s regeneration.

“Look at our recent project at Bradshawgate. The building was an eyesore of an office building and we transformed it into 81 apartments, all of which were snapped up in no time at all.”

The building used to be called the Glove Hosiery Works.

It was built in 1884 and rebuilt in 1929 by Hodgkinson and Gillbrand, which made knitted and crocheted hosiery. The firm moved to Fletcher Street in 1972.

Building work is being undertaken by Empire's Doncaster-based sister company, Empire Property Concepts, which also recently completed the 81 apartments at Sun Alliance House in Bradshawgate.