Availability of workspace is a significant problem for small and
medium sized enterprises (SMEs) operating in the City fringes. To
respond to this need, the City of London is undertaking a major
initiative to make additional space available for SMEs in the City
fringes.
This scheme involves identifying opportunities for investment in
premises, usually in conjunction with other boroughs, space
providers or agencies. The SME Workspace Initiative is currently
focusing on Southwark, Islington, Hackney, Tower Hamlets, and
Newham.
To date the SME Workspace Initiative has completed four
developments and has worked with partners to develop innovative
schemes:
- The large building at 1 Alie Street, a former Bank of America
property in Tower Hamlets, provides office space for SMEs in the
financial services and 'City support' sectors.
-
Water House, a joint venture with
Shoreditch Trust overlooking Regent’s Canal in Hackney, provides
eco-friendly office space in the east end, perfect for creative
sector businesses.
- Two developments have been completed on Worship Street in
Islington which provide fashionable, ‘industrial feel’ office space
on the border of the City.
- The SME Workspace Initiative has made an equity investment in
16 Hoxton Square, a hospitality training centre containing a number
of suites suitable for let by SMEs with units ranging from
200-5,000 sq ft.
- Working with partners, the City Corporation is developing the
City of London Innovation Warehouse, a start-up business incubation
centre to be located near Smithfield Market in the Square
Mile.
Please email us
on econ.dev@cityoflondon.gov.uk
for more information about the City of London SME Workspace
Initiative.