Why the UK must continue to try and attract creative businesses

Each year, the cultural sector contributes around £115.9bn to the UK economy, yet it’s an industry that is continually under threat. Rising rents and a lack of quality, fit-for-purpose facilities – exacerbated by Covid-19 and economic volatility – has left a lot of the UK’s brightest creative businesses in limbo, unsure of where to turn next. London’s status as one of the world’s greatest creative centres is now at risk as creatives across the capital feel pushed to the sidelines.

Design District made its market debut two years ago in September 2021 as a permanent home for the creative industries. Its ethos is to not only combat the economic pressure creative businesses experience through the provision of reasonably priced fit-for-purpose space, but also to curate a living, breathing ecosystem where like-minded creatives can thrive and collaborate. The result? A creative neighbourhood complete with high quality, inspiring spaces that are accessible and provide much needed stability and security.

Economic volatility and ever-increasing rents are a deep-rooted crisis impacting the industry at every level; their susceptibility to housing demand leading to a fundamentally fragile business model. Our vision was to provide a much-needed lifeline to combat that. Having launched at the peak of a pandemic and start of a paradigm shift in working culture, today Design District is a brilliant hub of over 170 inspiring businesses that together form one, holistic community.

Last week, we launched our flagship building to the market with some stellar statistics: 90% of tenants report that they have either grown or maintained the size of their teams, 83% cite the desire to be part of a creative community as their motivation for moving to Design District and 61% directly attribute an increase in quality of life to the standard of Design District’s amenities. Two years after launching, we’re continuing to reshape what commercial and creative space should look like in the UK’s capital, prioritising competitively priced, future-proofed building stock.

While this is a positive story for the UK commercial market, it’s vital that we continue to appeal to the best creative brands and businesses. It’s common knowledge that creatives, start-ups and global brands alike are looking for more from their commercial space than ever before. Global sports brand HEAD recently relocated to Design District from London Bridge, naming it as the official hub for its Innovations and Creative Studio.

Crucially, big brands make the decision to move here precisely because of the ecosystem they step into. Right on their doorstep is an impressive pool of creative talent, ripe for inspiration, collaboration, and partnership. This, paired with unparalleled facilities and opportunities for brands on-site – including London’s first rooftop basketball court, podcast recording studios and 3D printing services – makes Design District one of London’s top commercial destinations to watch.

With the support of Design District, many of our tenants are continuing to buck wider trends, expanding and thriving despite wider economic turbulences. Our mission to build an ecosystem of ambitious creatives, tastemakers and entrepreneurs at all scales and stages continues. By continuing to attract occupiers from the global stage, we will ensure London and the UK remain firmly open for business.