The first mill on this site was erected in c.1790. This was replaced after a fire in 1800. That mill, which became locally known as Olivers mill, due to being owned by that family, was added to and enlarged over the years until spinning ended in 1962. The mill closed and was demolished. It was replaced by what was then a modern factory making foam blocks for use in aircraft seats among many other purposes. During its cotton spinning days Waterhouse mill is said to have produced the finest (thinest) thread in the world and this was sold especially to fine lace makers including those in Nottingham and Brussels. In 2012 the Kay Metzeller factory was closed and demolished and over the subsequent three years the present housing estate was built.