The report goes on to make several key recommendations to the government and private sector in order to achieve this mix:
• Establishing a significant London-wide Commercial Space Investment Fund that generates co-investment to accelerate and support the provision of new forms of mixed residential and employment development that accommodate industrial space.
• Establishing area-based Local Economic Growth Companies to purchase, hold and manage employment space from an early stage in the development cycle with a focus in Opportunity Areas where there is potential for mixed employment and residential development at scale.
• Developing enhanced and updated planning policies, area frameworks and development management approaches and good practice guidance at both a regional and local level to support effective delivery of mixed employment and residential schemes.
• Delivering five trailblazing projects by 2022 that demonstrate a range of conditions, typologies and delivery routes, exploring social impact and diverse investment opportunities supported by a longitudinal research programme.
[Download report here]
Martyn Saunders, Director of Regeneration and Spatial Planning at GVA said: “It is time to face not just the scale of the challenge, but also the opportunity that London faces. The basis of current policy on ‘no net loss’ and protection is helpful, but we have much to gain from shifting our thinking to what we can create, and achieve ‘net gain’ across London. This means we need to consider a new approach that will deliver the levels of diverse commercial and residential space that London needs by expanding the conversation to include creation as well as protection, with the report suggesting this approach could deliver significant new economic capacity for London, increasing current light industrial supply by 20% in order to accommodate demand from a growing urban servicing sector, just in time production, high value advanced manufacturing and London’s burgeoning creative sector.”
Richard Brown, Research Director at Centre for London, said:
"London’s stock of workspace is being steadily eroded. Big industrial areas have been eaten away three times faster than planned in recent years.
"The Mayor’s draft New London Plan proposes tightening protections for strategic sites, but smaller scale workspaces are still vulnerable to being squeezed out by residential redevelopment.
"To ensure success in times of economic uncertainty and rapid technological change, London needs adaptable employment space as well as homes, workshops as well as logistics sheds, scrappy studios as well as smooth office blocks. New London Mix offers a model of development that can meet these needs, and in doing so create places with vitality, resilience and character."
Daniel Hill, said: “To achieve a “New London Mix” and bring it into the mainstream we need collaboration through the private, public and housing association sectors, new approaches in policy and funding, and to overcome persistent institutional barriers across London that prevent such solutions from progressing. This report is a call for the ‘New London Mix’ to become a crucial pillar in London’s Good Growth policy.”
Joost Beunderman, Director at 00, said: “This report shows how we can achieve a net gain of new employment space, but also how that can create better places, that are in sync with how we know urban innovation and 21st Century supply chains actually work. Particularly with traditional retail and restaurants under pressures in town centres and high streets, putting more diverse economic activities at the heart of places will make them more vibrant, inclusive, sustainable and resilient in the face of an ever-changing economy."