The North Craven Building Preservation Trust (NCBPT) purchased the central and south ranges of The Folly in 1996 aided by a loan from the Architectural Heritage Fund and grants from Heritage Lottery Fund and Yorkshire Forward. The aim was to restore the building and open it to the public as a historic house and new home for the Museum of North Craven Life.
Next began the complex and time-consuming task of raising match funding from a range of sources to enable restoration and conversion to begin. By early 2000, sufficient grant aid had been secured and building work commenced in June 2000.
Between June 2000 and March 2001, substantial repairs were carried out to the fabric and structure of the building, including the strengthening of beams and the laying of new oak floors.