£6.9million enterprise case for Margate Artistic Land Belief submitted to authorities – The Isle Of Thanet Information
The Creative Land Trust is part of the Margate Town Deal Photo Steven Collis
Plans to set up a Creative Land Trust in Margate have taken a step forward as the Thanet District Council presented a £ 6.9 million case summary to the government today (October 15).
The Creative Land Trust takes over unused or vacant real estate through the purchase of full condominiums or long leases, or through real estate donated by public or private partners or transferred to the trust.
These are used as affordable commercial space for creative industries and supporting services. The Thanet Council says the trust will bring vacant properties back into use, generate investment in the city center, and create jobs and training opportunities.
Margate’s Creative Land Trust will support creatives in the fields of design, music, publishing, architecture, film and video, crafts, visual arts, fashion, television and radio, advertising, literature, computer games and the performing arts.
The project is the first business case submitted as part of the £ 22.2 million Margate Town Deal.
Margate was one of 101 places in 2019 to apply for funding of up to £ 25 million under the government’s £ 3.6 billion City Fund. The fund aims to support urban renewal, skills development and improved connectivity by giving each location their own Town Deal.
The success of the bid was announced in the Chancellor’s budget in March as part of the government’s town-deal program.
Thanet District Council Cabinet Member for Economic Development Cllr Reece Pugh said, “This is an exciting milestone on the road to the Margate Town Deal. We are confident that the government will recognize the Creative Land Trust’s ability to breathe new life into the city center and act as a catalyst for regeneration and future investment.
“The conversion of vacant buildings and the provision of genuinely affordable long-term jobs will not only support our creative industries, but will also offer employment opportunities, education and qualifications. Margate already has a thriving creative community and these plans will cement its status as a Capital of Culture. “
Sara Turnbull, Managing Director of WorkWild said, “Margate and the surrounding area have a well-known dynamic and dedicated creative community. It is also broadly diversified – from technology, design and craft as well as from traditional art and culture. However, the sector is vulnerable to the impact of rising rents and property values. These conditions make it unsafe and unaffordable for many creative practices.
“Without intervention, Margate could lose some of its iconic spaces. The Creative Land Trust will help the creative community be sustainable and grow while enabling more people to benefit from new work and business opportunities. “
After submitting this first Business Case Summary Document for the Margate Town Deal, the project team is now working towards submission deadlines for more in April 2022.