The Greater London Authority (GLA) has pledged £750,000 from the London Regeneration Fund for the refurbishment of the Granville Centre.

The funding will bankroll the transformation of the facility into a purpose-built Enterprise Hub and Community Space as part of the ongoing regeneration of South Kilburn.

It comes after a successful joint bid by Brent Council and the South Kilburn Trust and will accelerate plans for the venue to house up to 30 businesses that currently reside in the South Kilburn Studios.

Refurbishment plans also include the creation of affordable community space for use by residents, community groups and local organisations, as well as adaptations to the building to make it safer and more accessible for disabled users.

South Kilburn Trust chief executive, Mark Allan, said: “This is great news, the GLA funding has brought us one step closer to realising our vision of creating a sustainable workspace and affordable community space in the heart of South Kilburn.

“The Partnership is hopeful that the hub will be a prominent feature of north west London, capitalising on the upward trend of business start-ups and the reputation of South Kilburn Studios as home to some of London’s successful budding entrepreneurs.”

Cllr Shama Tatler, cabinet member for regeneration, growth, employment and skills, said: “The regeneration of South Kilburn aims to deliver not just new and better quality housing but also social infrastructure and community services.

“South Kilburn has a proud heritage of creativity and establishing an Enterprise Hub and Community Space will enable budding entrepreneurs to thrive and grow.”

Deputy Mayor for planning, regeneration, and skills, Jules Pipe, said: “The Mayor and I are committed to supporting social and economic enterprise across London.

“I’m really pleased we are able to support this enterprise and community hub through the London Regeneration Fund.

“This is a great example of a local asset providing spaces for innovative, enterprising people to pursue their ideas, along with spaces for the wider community to use in the heart of their neighbourhood.”

The refurbishment plans are part of a two-phase plan around a permanent Enterprise Hub with the first phase planned to conclude in late 2017/early 2018.

Once opened it will run for up to five years, with the final plans for the second phase, a permanent Enterprise Hub and Community Space, to be decided in 2018.

The South Kilburn Trust will move into the Granville Centre this spring followed by South Kilburn Studios tenants who will move to the space later this year.