The Ashton Old Baths refurbishment project has received a £1.7m grant from the Heritage Lottery Fund's heritage enterprise programme.
Designed by architects Paull & Robinson, Ashton Old Baths was built in 1870. The building served as municipal baths until the 1970s when it closed and remained largely derelict and on English Heritage's heritage at risk register.
Ask Developments sold the property to empty homes specialist PlaceFirst in July this year. PlaceFirst then announced plans to convert the baths into a 6,500 sq ft business centre for small firms. The building is in the St Petersfield area of Ahston-under-Lyne's town centre, which was partly redeveloped by Ask before the financial recession.
Earlier this year, the project secured £1m from the European Regional Development Fund.
The completed development will be targeted at small and medium-sized enterprises in the digital, creative and media sectors and will benefit from the recently completed installation of dark fibre broadband in the area.
An activity programme delivered by Tameside Council's cultural services team will be rolled out as part of the project. This will include providing public access to the building through open days and a permanent art interpretation.
Cllr Kieran Quinn, executive leader of Tameside Council, said: "This announcement is a real boost to our plans to bring this important heritage building back into use and promote economic growth in Tameside. We greatly value the support that the Heritage Lottery Fund is providing for the redevelopment of Ashton Old Baths.