Of the 5,200 rental spaces The Arch Company purchased from Network Rail in 2019, only 3,800 were occupied, with 1,400 vacant. Hundreds of these empty spaces were derelict and in need of significant investment before they could be occupied.
Project 1000 is our plan to invest £200 million to bring a thousand empty and derelict spaces into use by 2030. Project 1000 will create space for 1,000 businesses, supporting approximately 5,000 jobs and adding to the estimated 25,000 people already employed in arch businesses.
The Project 1000 development programme spans urban areas England and Wales, including major works in London, Manchester, Windsor, and Leeds. Once these arches are fit for purpose, they will become new spaces within which businesses can thrive, bringing jobs and positive change to the very heart of local communities.
The flagship Project 1000 development is Findlater’s Corner – an empty group of arches in London Bridge. Set opposite Borough Market and a stone’s throw from London Bridge Station, these empty spaces will become exciting prime retail and restaurant units in a landmark location. News of our plan to restore these spaces to their former glory ran in The Evening Standard in October 2021, with the project aiming to be complete by November 2022.
Further Project 1000 developments are taking place up and down the country, with The Arch Company team eager to ensure empty spaces are brought into use. With the most sustainable development being the one that already exists, the opportunity to invest in previously overlooked spaces is a positive change for all involved.
Craig McWilliam, CEO of The Arch Company, said:
“Project 1000 is an exciting and ambitious programme that demonstrates our commitment to creating thriving environments for a diverse mix of small businesses and their communities. Our long-term investment will create space for 1,000 businesses and support approximately 5,000 jobs by the end of the decade.”
Tom Lewith, Founding Director of TDO Architects, based in a railway arch in Southwark, said:
“It’s great to see these spatially fascinating railway arches come back into use for new generations. As a tenant of The Arch Company and having designed a series of arch fit outs, we experienced first-hand the benefit of being in these spaces and welcome this development programme. The decision to continue updating arches will hopefully lead to many small businesses finding homes in locations they otherwise could not. I see The Arch Company’s commitment to improving the estate as a valuable and positive change and look forward to seeing the benefits this project brings to the surrounding communities.”
For current available spaces to let, view our lettings here