Property Sector

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What we are looking for

We welcome approaches from Local Authorities and Developers.

In order to sustain artistic production in London we need to access long-term, low cost workspaces. These can be in many different locations and in a wide variety of buildings.

What we can offer

– Well-managed space (we run at 98% occupancy with negligible arrears or bad debts).

– With 50 years experience of effective management and a portfolio of over 800 tenants and over 284,000 sq ft of workspace managed, we provide a good covenant.

– Place-making: our tenants will put a location on the map, make it attractive, and have the potential to provide social economy for the area.

– Our tenants are reliable and responsible. Their uses tend to be quiet and compatible with residential

– Expertise in partnership working – with local authorities, developers, education and housing sectors.

 

References available from: One Housing Group, Peabody Trust, London Legacy Development Corporation, Arts Council England

To achieve this we wish to enter into early discussions with regeneration teams, owners and developers to explore the provision of workspaces in mixed-use schemes

Typically the terms of our arrangements include the following:

– Term: A lease for as long as possible, 25 years is a good starting point but it could be shorter or longer.

– Rent: We aim to provide our artists with affordable studios on an inclusive rent. This means we can afford rents in the range £5-8 psf.

– Service Charge: We expect to pay a Service Charge, but look for this to be capped circa £1.50 psf, subject to RPI increases.

 

To discuss further please contact Anna Harding, CEO SPACE anna@spacestudios.org.uk , 0208 525 4330 or Robert McKay Forbes MRICS, Properties Manager robert@spacestudios.org.uk, 0208 525 4337.