Belmont Mill has been in operation since the 1760s, first as a water powered mill for grinding oats and wheat. Then in the late 1700s early 1800s a tuck mill (for fulling woollen cloth) and a rape mill (for the production of vegetable oil) were erected. In 1850s the present weir was built and the whole complex was considerably extended and a new large flour mill was built. As with all mills there were a number of fires and buildings were rebuilt and upgraded over the years
The Perry family who operated the mills from 1854 to 1997 (138 years), was responsible for most of the buildings to be seen today. Robert Perry Limited was a progressive company and installed a turbine for electricity production in about 1908 which not only powered the mills but also provided electricity to the houses in Belmont village.
The mills closed for a time in the mid 1920s following a disastrous fire and re-opened in 1928. The production of flour, pinhead oatmeal and porridge oats continued up to the 1960s and 70s when hygiene requirements demanded that production switched to animal feedstuff.
In 1982 a new hydro-powered electricity station was installed and from then until 1997 only animal compounds were made. Surplus electricity was sold to the ESB national grid.
In 1997 the entire site, other than the turbine was purchased by Tom Dolan and Sandy Lloyd. Since then the site has undergone a programme of restoration as many of the buildings were derelict. Tom and Sandy and their family have lived in the restored Mill House since August 2000.