Boosting industrial affordability

London's industrial landscape is undergoing a transformation, driven by increasing demand for 'affordable' industrial workspace (AIWS), under both London-wide and borough-specific planning policies. This shift reflects a growing recognition that the rising cost of industrial space can...

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Bibliographic Details
Published inProperty Week p. 23
Main Author Thrumble, Luke
Format Trade Publication Article
LanguageEnglish
Published London Emap Limited 11.10.2024
Subjects
Charities
Entrepreneurship
Industrial development
Innovations
Office space
Planning
Startups
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Summary:London's industrial landscape is undergoing a transformation, driven by increasing demand for 'affordable' industrial workspace (AIWS), under both London-wide and borough-specific planning policies. This shift reflects a growing recognition that the rising cost of industrial space can be a barrier for industrial startups, charities and other organizations with limited financial resources. While the concept of affordable workspace is well-established for office space, it is relatively new for industrial developments. It is gaining momentum, however. The Greater London Authority (GLA) has been instrumental in driving this change, and its commitment to fostering an inclusive and accessible industrial sector is evident in its latest planning draft policy guidance, which emphasizes the inclusion of AIWS in new industrial developments. This stems from the understanding that facilitating access to affordable workspaces can provide vital support to businesses and organizations that need it most. Startups, for example, often lack the funds to secure market-rate workspace; and AIWS offers the space they need to grow, driving innovation and entrepreneurship.
ISSN:1354-1471