General Projects and Waterfront Studios have bought Florentia Clothing Village, N4, for £33.8m.
The 3.5-acre site comprises a mixed-use campus including 90,000 sq ft of former warehousing and factory space, 41 loft apartments and a 1.5-acre vacant development site.
The campus lies at the heart of the Harringay Warehouse District, which is home to hundreds of artists and creative manufacturing business.
General Projects wants to submit a planning application for a £75m, 100,000 sq ft extension on the vacant land, doubling the size of the campus. It plans to create space for more than 150 independent design and manufacturing businesses, with new buildings designed to meet the specific needs of makers and creative industries.
The existing characterful heritage buildings, which date from 1930, will be retained and modernised. The community based at the existing village has been consulted on the deal and will be retained and supported through the transition.
Florentia Clothing Village was established more than 35 years ago as a centre for Cypriot clothing traders. It has been owned by the same family since then. It has evolved into a local hub for entrepreneurs and is now home to more than 40 businesses crafting textiles, furniture, clothing, food and bicycles, along with studio space for artists, playwrights and prop makers.
Jacob Loftus, chief executive at General Projects, said: “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.”
Hanover Green acted for General Projects and Waterfront Studios; Michael Elliot acted for the seller.
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