LTGDC plans will make Hackney Wick the focus of new creative business growth

Hackney Wick will be the new focus for creative business growth in east London adding to the eastward buzz in high tech start-ups, the London Thames Gateway Development Corporation said today as it submitted redevelopment plans for a 1.6 acre site in the area.

Building on the existing cluster of creative industries at Hackney Wick plans submitted today aim to deliver over 6,000 square metres of affordable and flexible workspace, enhancing the offer of business accommodation and meeting the huge demand for workspace to tech start ups struggling to find space in Shoreditch and Hoxton.

A range of workspace sizes and types form part of the LTDGC scheme including rent-a-desk options, shared incubator space and larger units for growing businesses. This provision is vital in terms of creating a vibrant employment hub which will support continued economic growth and investment in Hackney Wick. LTGDC has also agreed plans with TfL and Network Rail to make significant improvements to Hackney Wick Station. Plans include the re-location of the station entrance with a new ticket hall at ground level, improved stairs and lift access and new pedestrian cycle connection underneath the railway line.

The creative industries remain a strong and dynamic component of London’s economy, accounting for one new job in every 12 created.[i] Currently east London boasts the largest number of artists and arts organisations living and working together of any capital city in the world.[ii] The prospects for creative industry growth in Hackney Wick received strong endorsement in research from the Tom Flemming Creative Consultancy citing the spotlight of the London 2012 Olympic Games, the presence of the IBC/MPC with its lure to high end media companies to locate along with the improving access to the area by road and train.

The application will also see development of up to 130 residential units to include a mix of units from studios to three bed flats, 1,596 sq m of retail for a convenience store, cafes, bars and restaurants and 1,820 sq m of public open space.

Steve Oakes, LTGDC’s Development Director said:

‘With a growing number of creative businesses at Hackney Wick, on the axis between Shoreditch and the Olympic Park’s IBC/MPC we will be providing an excellent offer of high quality and flexible workspace.

‘Our proposals aim to provide the supporting infrastructure of good transport access, excellent public space and to speed the successful transition of the area into a new district hub with great character and a work/live vibrancy. It will be the benchmark for further development emerging in Hackney Wick.’

[i] GLA Economics 2009