Strettons works with Creative Land Trust on its first studio acquisition
Working with Strettons, Creative Land Trust recently exchanged contracts for the acquisition of Stone Studios in the heart of Hackney Wick from developer Telford Homes. This represents a substantial step towards the Trust’s goal of securing 1000 affordable workspaces for London’s artists and makers – making space for art.
The 33,000 sq ft ground and lower ground floor space will provide long-term, genuinely affordable studios and ensure that artists can continue to flourish in one of the capital’s creative hotspots.
Creative Land Trust has acquired the space, designated as the residential development’s “Affordable Workspace”, to accommodate up to 180 studios for artists and other creative practitioners. The London Legacy Development Corporation’s planning and regeneration strategy for the area has helped enable the designation of HWFI as one of London’s Creative Enterprise Zones and secured the delivery of genuinely affordable workspace at Stone Studios. Occupiers will enjoy long-term security, while the London Borough of Hackney and the wider city of London will strengthen their reputations for culture-led regeneration.
Meanwhile, the unique area of Hackney Wick, one of London's first Mayoral Creative Enterprise Zones, will see its vibrancy and distinctiveness embedded, locking in cultural benefits and creating new economic opportunities for local residents. The workspace will include street frontage studios, highlighting the area's industrial heritage.
This acquisition is the first in what will become a portfolio of properties, as Creative Land Trust fulfills its mission to secure long-term, affordable workspace for artists and makers to support London’s creative industries.
Creative Land Trust was established in 2019 to secure long-term, affordable workspace for London’s artists and creatives, ensuring a vibrant and prosperous future for this critical industry, enriching communities and strengthening the city.
Alex Notay and Catherine Webster, Co-Chairs of Creative Land Trust:
“We are absolutely delighted to confirm this studio acquisition. Creative activity is the beating heart of any successful urban place and it is critical that we secure and protect workspaces for our artistic communities to thrive through the pandemic and well beyond. We are enormously proud of the entire Creative Land Trust team; both executive staff and Board Trustees, who have all worked incredibly hard to secure this fantastic first studio into our portfolio.”
The Mayor of London, Sadiq Khan:
"The acquisition of Stone Studios is a major milestone for the Creative Land Trust, which we founded to establish much needed affordable workspaces for artists and creatives in the capital.
London is overflowing with talent and innovation, but our creative community is under constant threat from rising rents and the pandemic has left many artists on a cliff edge. It is more important than ever that we support this sector and the next generation of talent, so that they can help drive forward our city's economic recovery."
Tonya Nelson, Area Director, London, Arts Council England:
“Now more than ever it is important to secure London’s culture of creativity and enable all artists in our communities to reach their potential. I am delighted that with support from the Arts Council, the Creative Land Trust has been able to make their first investment in affordable workspace for creatives. This will help foster the future creativity of our diverse communities in London.”
For information on other properties like this in Hackney Wick, please contact Sean.