Rent hike forces fashion incubator The Trampery to seek new home
A social enterprise in London Fields says it is being forced to find new premises after being hit with a 400 per cent rent hike.
The Trampery on Mare Street, a fashion ‘incubator’ providing shared workspace for emerging fashion labels such as Jonathan Saunders and Lou Dalton opened its doors two years ago.
The organisation, which has five other sites across London, says it is been renting the Morley Hall space for £125,000 per year and was expecting a rent increase to £230,000 in September.
Spokesperson for the Trampery Jamie Craven told the Hackney Citizen that three months before the lease expired the landlord announced the rent would be increasing to £500,000.
The 400 per cent increase would mean the enterprise would need to charge rates that are “completely out of reach” for emerging fashion labels.
Craven said: “The astronomical rise in commercial rents poses an existential threat to London’s creative and entrepreneurial community.
“If we reach a point where early-stage businesses and entrepreneurs simply can’t afford to locate themselves in London any more it will cause long-term damage to the city’s economic fabric.
“Part of The Trampery’s mission is to provide high quality office and studio facilities where talented emerging businesses can afford to base themselves.
Now the enterprise has launched a campaign appealing for help to find both a temporary space for the studios and a permanent home of 10-30,000 square feet.
High-profile backers of the social enterprise have lent their support.British Fashion Council CEO Caroline Rush said it was “essential” that The Trampery finds a new premises.
“The Trampery is an incredible facility for start-up and developing designer fashion businesses. Its studio space, shared equipment facility and networking spaces make it an ideal place to develop a designer business.”
The Trampery is a joint project of Hackney Community College which has owned the lease on Morley Hall since 1973 and London College of Fashion.
A spokesperson for the college said: “Hackney Community College has held the lease at Morley Hall and this is coming to an end in September 2015. Unfortunately the College is not in a position to extend the lease.
“The College is vacating the building and supports the Trampery’s efforts to negotiate an acceptable arrangement with the landlord or find other suitable local premises.”
Hackney Council provided specialist equipment for its Fashion Lab when it opened in 2013.
According to Land Registry records the building’s freehold is owned by the private limited company Cecil Silver Ltd.
For more information on The Trampery’s appeal click here.