New start company Heb Aisle Limited is converting a former church building in the village of Bunessan on the southern end of the island.

The company plans to create a facility that gains national and international recognition as a music studio and record label, encouraging high-level clients and inspiring local talent.

The HIE funding will contribute towards the £133,000 total cost of construction and fit-out works to convert the building, which will be as energy efficient as possible and will include client accommodation.

The project is forecast to generate more than £340,000 in turnover in the next three years and create three jobs within five years.

Area manager for Argyll and the Islands Morag Goodfellow said: “This is a welcome entrepreneurial initiative on Mull to create a vibrant and profitable business that will bring a disused building back into productive use and create jobs. It will also generate wider economic benefit locally.

“I’m delighted we’re able to provide support for this potentially high-growth start-up company and look forward to seeing the new facility take shape.”

Heb Aisle is a subsidiary of Tide Lines Music, which has worked in some of the best recording facilities in the country. Both companies were founded by director of Heb Aisle Limited Ross Wilson, a professional musician and an entrepreneur in music technologies and audio engineering.

He said: “In my opinion, the music and creative industries in Scotland are more vibrant than ever. It’s my ambition to bring a portion of this sector to the Ross of Mull, with the added benefit of reviving a prominent local building.

“Returning to my home island to continue working, growing and creating new opportunities within the recorded music industry has been very dependent on HIE’s invaluable support for this project.”

The IBIS World Industry Report estimated sound recording and music publishing to be worth more than £2.5bn to the UK economy.