The derelict transport exchange in Whitehaven, Cumbria, will be converted into a £4.1m hothouse for tech, digital, media and creative start-ups.

The development– which is known as Buzz Station (pictured above) – is being funded by the owner of Sellafield Ltd, the Nuclear Decommissioning Authority (NDA).

The scheme is part of a wider £300m regeneration of the town headed up by developer BEC and partners, which include Whitehaven Harbour Commissioners and Copeland Borough Council.

The finished development could be open as early as next year.

The plans also include:

• conference and meeting space for 75 people
• an artisan food and drink outlet, open to the public
• health and wellbeing facilities

The scheme is part of Sellafield Ltd’s social impact strategy, which aims to leverage public and private sector investment to help grow and diversify the west Cumbrian economy.

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Jamie Reed, head of development and community relations at Sellafield Ltd, said that west Cumbria had always been a crucible of innovation, energy and ideas.

“We pioneered the civil nuclear industry and we’re leading the world in decommissioning and waste management,” he added.

“Now we’re positioning ourselves for the next wave of growth in the tech and digital industries.

“That means unleashing the energy and ambition of local people to innovate, invent and inspire.

“The Buzz Station will provide the ideal environment for collaboration and creativity, allowing the next generation of tech entrepreneurs to lead our economic renewal.”

Rob Miller, head of property and development at BEC, added: “This innovative and exciting development will complement the North Shore regeneration scheme.

“It is the start of a major delivery phase for BEC.

“We are looking forward to opening the doors to ambitious businesses and the public.”