London’s Design District, a purpose built hub for the creative industries in Greenwich Peninsula, has launched a 10,000 sq ft flagship building to coincide with its second year anniversary.
Building B1 is situated in the centre of the creative quarter and spans across four storeys.
The Design District was launched by property developer Knight Dragon in 2021 and is now home to 170 businesses situated in 16 buildings.
Buildings in the district target rents of £25 per sq ft – half the London average of £49.64 – in efforts to give smaller businesses a more affordable workspace as they look to grow their company.
Its launch, during the middle of the pandemic, came at a challenging time for the creative sector, with some 50 per cent of creative organisations and 100 per cent of freelancers losing their income by the end of March 2020.
A new study released by the hub has shown that some 90 per cent of businesses have grown or maintained the size of their teams since moving into the district and a further 65 per cent have maintained or increased turnover.
Emma Mansell, head of London’s Design District at Greenwich Peninsula, said: “In just two years, Design District has established itself as a pioneer for supporting creative businesses.
“The mission to build a community of ambitious creatives, tastemakers and entrepreneurs at all scales and stages has gone from strength to strength thanks to the supportive ecosystem of Design District and its tenants, despite a tumultuous backdrop of Brexit, Covid-19 and cost of living crisis.”