Creative places create value
CLIENT
Creative Land Trust
Creative Estuary
Get Living
Project
Research study
SKILLS
Data analysis
Risk analysis
GIS
Expert interviews and workshop
Insight
Report writing
Three clients with a keen interest in the future of the creative industries in Greater London and the Thames Estuary, commissioned this research to quantify the impact of creative workspace on the value of residential space in a new development.
The ultimate purpose of this research study was to help expand the provision of affordable workspace for creatives by presenting developers and investors with evidence to show that creative workspace can make an important contribution to financial value in a residential-led development.
The research found a positive association between clusters of creative workspace and residential property values. It identified annual out-performance of 4.4% per annum in London and 3.3% in the Thames Estuary. This is similar to the outperformance associated with regeneration, green or blue space, popular schools, or certain grocery stores.
The report, produced in collaboration with Hawkins Brown and Ramidus Consulting, was launched at an event in East Village in September. It has since then been presented to multiple public and private sector audiences including the ULI’s UK Urban Arts Forum. The findings were reported in Property Week and other real estate publications.
Research links
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