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Future Workspace Fund

  • Local community ad arts centre in Herne Hill, South London by CarverHaggard Architects. Extension and refurbishment of the exhisting building completed in 2021.

  • Local community ad arts centre in Herne Hill, South London by CarverHaggard Architects. Extension and refurbishment of the exhisting building completed in 2021.

The Future Workspace Fund is Lambeth Council’s by-application loan and grant fund for affordable and supportive workspace providers across the borough.

The Future Workspace Fund’s purpose is to grow innovation-led sectors in Lambeth and deliver outstanding economic return and social value for residents. 

Through the Fund, we are making loan and grant investments to workspace providers to grow sectoral clusters and enhance affordable and supportive workspace in the borough. 

The Future Workspace Fund builds on the council’s award-winning approach to creating workspace that helps new and existing businesses to thrive and grow – from Granby Space and Build Studios in Waterloo, to Tripod, Pop Brixton and the award-winning International House in the Brixton Creative Enterprise Zone. 

The fund has three key objectives: 

  • to stimulate high value cluster growth and inward investment in innovation-led sectors; 
  • to support Covid-19 recovery by helping existing businesses to survive, adapt and thrive in the new economy; and,
  • to attract and generate business growth, jobs, employment pathways, (with a focus on black, young and disabled residents) and training and apprenticeship opportunities for residents. 
TARGET: 144,000 SQ FT
NEW AND ENHANCED WORKSPACE

WHAT WE FUNDED IN THE FIRST ROUND

The first round of the Future Workspace fund was open for applications in late 2020.

Through this first round, we invested just over £2 million into four projects which are growing, enhancing and safeguarding affordable workspace across Lambeth. The first round investments unlocked £6.9 million of match funding and are forecast to benefit 258 businesses each year and support 960 jobs across 69,000 sq ft of new or improved workspace.

The first round funded projects are:

Sustainable Workspaces – who are bringing forward new sustainable dedicated workspace at the iconic County Hall to create Europe’s largest low carbon cluster.

Ten87 Studios – a music studio provider creating 30 studio spaces for producers and artists in the basement of the new Brixton House Theatre development.

198 Contemporary Arts and Learning – supporting the extension and fit out of 198 CAL’s historic space at 198 Railton Road, creating two new floors to provide larger gallery space, workspace, and an education floor supporting young people and adult learning programmes.

Artists Studio Company – enabling Artist Studio Company to acquire and improve their property at 47c Streatham Hill, meaning that studio space for 59 artists are safeguarded at truly affordable rents.

 

 

SECOND ROUND

The Future Workspace Fund is open for applications on Monday 21 March 2022, and will close on Tuesday 31 May 2022.

 

WHAT WILL BE FUNDED

The Future Workspace Fund will provide funding for capital expenditure to workspace providers that are developing new or enhancing existing affordable and supportive workspaces. 

The types of workspaces that will be funded are anticipated to include: 

  • specialist incubators focused on innovation-led sectors such as med tech, life sciences, green tech and services, creative and digital; 
  • cultural workspaces such as creative studios; 
  • affordable workspaces for charities and social enterprises supporting priority groups; and, 
  • enterprise space projects within more residential areas. 

This round, the Fund can also provide Concept Development Grants, to support organisations to come up with innovative concepts and ideas on the development of a workspace project. 

The Fund has a first preference for loan funding but will also consider grant investments alongside commercial funding agreements. 

Please click below to open the fund information and application documents: 

With limited funds available and in order to ensure the council can deal with applications in a timely manner, we are only able to consider a small number of applications at any one time. This means that applications to the Fund will need to open and close periodically. Please email FutureWorkspace@lambeth.gov.uk to receive email updates on the Fund.   

How to apply: 

To apply, please send your fully completed Application Form alongside supporting documentation as set out in the Prospectus to futureworkspace@lambeth.gov.uk

Sign up for the online briefing session on the 6 April 2022 (10-11am) by emailing futureworkspace@lambeth.gov.uk

£8
MILLION
COMMITTED CAPITAL BETWEEN 2020-2025

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