Initial activity will concentrate on dismantling the semi-derelict warehousing currently on site and undertaking a full archaeological dig of what was once Brunel’s ‘Engine Factory’. The curatorial team hope this will provide artefacts and clues to the ss Great Britain’s construction, which began in 1838 and continued up to the launch in 1843. The ship will remain open for visitors and events throughout building works which are expected to last two years.

Historic vessels are notoriously expensive to protect. As an independent museum which receives no funds from central or local government, the ss Great Britain Trust needs to adopt a creative approach. In what is believed to be a world first for maritime museums, the Trust’s arrangement with Linden Homes will create the endowment, the Brunel Institute, and a more fitting backdrop for the ship, which will recreate the character of the original Victorian dockyard before it was destroyed by bombing raids in World War II.

The Trust successfully completed Phase 1 of the ship’s conservation in 2005, preserving the historic iron hull under a ‘glass sea’. Since then, ss Great Britain has won numerous major national and international awards, including Large Visitor Attraction of the Year 2007 and European Industrial Museum of the Year 2007 at the European Museum of the Year Awards. The Trust finds out next month whether it has won the prestigious ICON Award for Conservation 2007, backed by Sir Paul Mc Cartney.

Brunel’s ss Great Britain welcomed 200,000 visitors last year, including 15,000 schoolchildren.

The £30m redevelopment was designed by local architects Stride Treglown. Bristol City Council supported both Phase 1 and Phase 2 by making land available and the Council’s planning committee approved the planning permission.