THE PROPOSED DEVELOPMENT

The Development

Exclusive, Expensive, Unaffordable, and Divisive

  • Shopping Village purchased in 2016 for £6.5m

  • New majority owner is Larochette, headquartered in the British Virgin Islands tax haven.

  • Larochette is connected to Ziser, a UK property business with significant East London holdings.​​

  • The development is now managed by Rainbow Properties, a property management company based in West Hampstead.

 

The proposal is to EVICT all current tenants.

 

Current uses:

 

Basement:

Storage consisting of around 50 units, these are all full and are used on a daily basis by traders in the Indoor market, traders in the outdoor market and the very small shops that line the sides of the market. If this facility is removed it will affect the retail amenity of the street as a whole and compromise the market.

Ground Floor:

Consists of around 50 retail and storage units which are rented by the smallest of independent businesses. Some of these businesses have been resident since 1984 and are an intrinsic part of the Ridley Road and wider Dalston community. Again, the storage units are used by the wider outdoor market, as well as the smaller shops flanking the market who have historically depended upon this facility to operate.

 

First Floor:

The first and second floors are currently occupied by SIXTY artists and makers who have been in the space for the past 12 years. They are intrinsic to the character of the area, and rent studio spaces that they come to every day. Dalston's reputation as an artistic and cultural centre is in part attributable to the smaller affordable spaces such as these which allow artists to create and contribute within an urban environment.

Second Floor:

The second and first floors are currently occupied by SIXTY artists and makers who have been in the space for the past 12 years. They are intrinsic to the character of the area, and rent studio spaces that they come to every day. Dalston's reputation as an artistic and cultural centre is in part attributable to the smaller affordable spaces such as these which allow artists to create and contribute within an urban environment.

Third Floor:

The development is currently only two stories high, it is not out of place on the market and does not overshadow the market. 

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