We secure buildings through outright purchase of freehold properties or long leases and through planning policies such as Section 106 agreements or a Community Infrastructure Levies. This may also involve properties gifted or transferred to us by public or private partners. All of our buildings will be let to studio providers or groups of artists.
We will always follow clear guidance on what level of rent is affordable. Current research by the Mayor of London’s Artists’ Workspace Data Note 2018 suggests an average of £12-15/sqn ft and not more than £19/sq ft total cost to the end user (inclusive of service charge).
We aim to work with freehold property or long leases of 99 years or more to secure land for long-term use. We will ask providers to monitor and report the impact of their work to us so we can ensure our work remains effective and delivers our objectives.