The socio-economic impact of businesses in the railway arches
7.
Future economic impact
7.1
This section estimates the potential economic impact of the portfolio as a whole, in line with The Arch Company’s ambition to renovate spaces and bring them back into use, thereby delivering economic activity in spaces that were previously vacant. Whilst t he portfolio’s combined economic impact is already significant, it has not yet reached its full economic potential with occupancy at 70%. Hundreds of the empty spaces are derelict and in need of significant investment before they can be occupied.
Project 1000
7.2
Project 1000 is The Arch Company’s plan to invest £200m to bring 1000 previously empty and derelict spaces into use by 2030.
7.3
The Arch Company has undertaken or planned 356 capital projects as part of Project 1000 to date. As of February 2024, The Arch Company has invested £47m invested into capital projects since 2019. These projects range from minor projects focused on the maintenance and upkeep of the portfolio to large-scale redevelopments aimed at improving or regenerating parts of the portfolio. Altogether, the capital investment into these projects will amount to over £200m once complete. Figure 7.1 provides an overview of where this investment has taken place and is currently ongoing within The Arch Company’s spaces across London. 50 Each circle represents an investment into a property, with a larger circle indicating a larger investment. Likewise, a darker point represents a greater density of properties that have received investment.
7.4
Figure 7.1 – Where has Project 1000 already delivered investment in commercial space in London?
Amount of current and pipeline investment by location. Bubble size indicates scale of investment
Amount of investment
Current or completed investment
Planned
£1 m
£10 m
investment
Source: The Arch Company internal data, 2023. © OpenStreetMap Contributors, 2024.
50 NB: The investment shown in the graph includes both investment to date and planned investment
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