Searching for more space for London’s artists and small businesses

There are around 150 open workspaces across London, nearly 4,000 small businesses occupy these spaces at any one time and today the Mayor’s Office is calling on developers and local authorities to work harder to make better use of ground floor units in new buildings and high streets, by setting up a new network of business incubators and co-working or artist workspace providers.

A new study into artists workspaces highlights that one in six new jobs in London is in the creative industries. However directors of the capital’s major cultural institutions have voiced concerns about an exodus of artists and creative talent out of central London. Many are worried that artists are becoming victims of their own success by increasing the value of the areas they work in but then being forced out by the rising prices their presence has helped to boost.

The study found that the supply of artists studio space in London is higher than expected with 298 separate studio sites or buildings across London catering for 11,500 artists. However they also found that 28 per cent of artists studios are under threat as they do not expect to be able to renew their rental or leasehold agreements in the next five years.

The Deputy Mayor of London for education and culture, Munira Mirza, said: “London thrives on a close relationship between the artistic community and our booming creative and digital businesses. With as many as 3500 artists likely to lose their places of work over the next five years it is imperative that we consider the provision of artists space in the context of affordable workspace.”

The London Enterprise Partnership, which the Mayor chairs, is presiding over bids from London Boroughs for several million pounds of growth funding from the New Homes Bonus. And a significant proportion of this funding is expected to be directed towards Places of Work, with the aim of exploring the potential for levering in further European funding for these projects in the coming year.

The Mayor is determined that suitable workspace will be provided to ensure London maintains its international reputation as a place where new, innovative and creative endeavours come to start-up and grow. His team has developed an interactive online map that shows over 400 Open Workspaces where small enterprises start their lives. The map will not only provide an overview of where workspaces are located across London, but will also act as a directory of workspace providers for developers and councils.

The Deputy Mayor of London for business and enterprise, Kit Malthouse, said: “Small businesses are the heart and soul of our city and we need to do everything we can to find the space for them to set up and thrive. We cannot rest on our laurels. The London property market is very dynamic and we have to make space for everyone. Co working spaces are a fantastic opportunity for new businesses that might struggle to afford the rent on a busy high street, and today we’ll be urging people to find as many new locations for work spaces as they can. It will help us ensure our great city is a place where people can live, work and thrive for years to come.”

To read the full press release click here.

Date: 15 September 2014