Built by the Earl of Moira in 1804, the building has been preserved by North West Leicestershire District Council as a museum featuring lime kilns and craft workshops.
The furnace within was supplied with raw materials (iron ore, coke, and limestone) by tipping them in through a charging port at the top, accessed from the bridgeloft.
The loading ramp, which spans the Ashby Canal, allowed the raw materials to be raised into the bridgeloft, which comprises the top floor of the bridgehouse, the large building with the pitched roof behind the furnace.
In 1804, the Earl of Moira had the furnace constructed to take advantage of the iron ore and abundant coal which were present underground in the surrounding Ashby Woulds area owned by him.
The location was chosen for its proximity to the Ashby Canal for transport, and the lie of the land which allowed the furnace to be built low down so the raw materials did not need raising very high.
Metallurgical examination has shown a high sulphur content in the raw materials, which may have been a contributory factor, and the chimney shows signs of severe overheating, indicating a design fault or operating problem.