"Key" North London area to become creative manufacturing quarter after £33.8m acquisition

A UK property company has announced that it has acquired a “key” area of North London’s creative industries district in a deal worth more than £33m.

General Projects and the Waterfront Studios Limited Partnership has made the acquisition for £33.8m and plans to develop a new purpose-built creative manufacturing quarter.

The acquisition comprises a mixed-use campus including 90,000 sq ft of former warehousing and factory spaces, as well as 41 loft apartments and a 1.5-acre vacant development site.

Jacob Loftus, CEO of General Projects, commented: “Affordable, fit for purpose, creative industrial spaces in London have been increasingly disappearing over the past 15 years, putting immense pressure on independent businesses in the design and manufacturing industries.

“Over the past 30 years Florentia has been home to a thriving cluster of fashion-based businesses, we are honoured to take over the custodianship of this wonderful hidden gem, and are excited to expand the complex to become London’s biggest hub for SME maker businesses – establishing a new benchmark for modern, design led, creator-spaces.”