Councillors also rejected plans to demolish the Grade Two listed Hydraulic Tower and Pump House.
At a planning committee today, Hull's Lord Line Building, Hydraulic Tower and Pump House based on St Andrew's Dock were all denied permission for demolition.
In a statement, Hull City Council say: " St Andrew's Dock is a conservation area and a designated heritage asset, and demolition without a suitable replacement scheme will have a detrimental effect on the area.
"The structural reports submitted with the application do not demonstrate the buildings are structurally unsafe. Therefore demolition is not required to make them safe so the buildings should be retained.
"In addition, a number of objections were also received from the public and heritage groups including Historic England who believe that the development would cause substantial and unjustified harm to the heritage assets, and advise that a more sympathetic solution to re-use the historical building is pursued."
Adam Fowler, from the City of Hull and Humber Environment Forum, says: "There's so little left about what that industry was about.
"That's why it is absolutely important that we do something with these buildings. Bring them back into a viable new use to celebrate the past as we move forward into the future."