A new warehouse is to be built on the site of the former Godet and Young building destroyed by fire three years ago.

The historic warehouse in St. George's was ravaged by an overnight blaze on April 24, 2006, causing $1 million worth of damage.

Built in the mid-nineteenth century as a warehouse for McCallan & Wainwright, the two-storey building had a single-storey frontage in Wellington Street and was granted listed status.

It was also reputed to have been the location where the Cunard Steamship Line was formed.

After the fire, the owners tried to salvage as many wooden beams, posts, doors and fittings as possible for a future reconstruction of the building.

Godet and Young's hardware company, situated further down the road, was able to continue in business despite the loss of the warehouse and its stock.

An application to rebuild the warehouse has now been approved, subject to a building permit and Bermuda stone frontage.

The Development Applications Board said: "In the interests of the visual amenity of the neighbourhood, the hereby approved walls shall be faced with Bermuda stone, finished to give the appearance of Bermuda stone or plaster rendered at the time of construction."