A semi-derelict Bellingham pub built for First World War veterans and their families is to be restored as a community venue thanks to a multi-million pound grant from the Heritage Lottery Fund.

Phoenix Community Housing has been awarded £3.8m to redevelop The Fellowship Inn which will secure the future of the pub which previously acted as a training base for heavyweight boxer Henry Cooper and showcased bands such as Fleetwood Mac.

The project will create 70 new jobs at the Randlesdown Road venue and many more training opportunities.

The Fellowship was built in the 1920s and was the first pub built on a London housing estate.

It was part of a ‘Homes for Heroes’ development to ease inner city overcrowding following the war and was used by returning soldiers and families for clubs, social events and gatherings.

Since the 1980s the pub has fallen into serious disrepair in one of the most deprived areas in the UK with 40 percent of children living in poverty.

Bellingham Councillor and Phoenix Community Housing board member Alan Hall said: “Both The Fellowship Inn and the Bellingham community have won the lottery today. This is a seriously major boost for the area.

“We asked for a significant amount and I am delighted that all our hard work has paid off.”

The newly developed pub will include a cinema, live music venue, cafe, microbrewery, bakery and artist’s studios.

Phoenix Community Housing’s chief executive Jim Ripley said: “Over the past few decades pub after pub in our area has closed its doors. That reflects the general trend in our area over many years – lack of investment, lower than average educational attainment and high unemployment.

“We’re delighted that we’ve been successful in our bid for almost £4million Lottery funding. We would like to thank the Heritage Lottery for believing in our community and recognising the hugely important role that pubs play in British culture.”

A completion date for the work to the pub is yet to be announced.