There have been some losses. Hamilton laments the demolition of his original comma-shaped gatehouse at the top of the approach ramp, and is worried about plans to divide up the huge, low oval lorry servicing building alongside the taller Monsoon building - this Peter Simon also owns and intends to let out. These are not insignificant details, particularly when you consider that it is a listed building complex. But you have to bear in mind that, only a few years back, it was all slated for demolition in earlier, ill-conceived plans for the Paddington area. Simon - who is also the saviour of the historic Electric Cinema in nearby Notting Hill - has shown imagination and no little courage in taking the place on at all, spending around £10m to convert it when many another such organization would merely have rented an existing block.

Such buildings, when they are out of fashion, are strangely invisible. Brought back to life with a new use, they suddenly become landmarks. Nobody paid the old Bankside Power Station much heed until it became Tate Modern. In its very different way, this other industrial building has now emerged from its long sleep. It looks absolutely fresh.