'More to do to reassure businesses' – Mayor responds to railway arches tenant charter
The Arch Co, the company that bought thousands of railway arches across the country from Network Rail, has published a tenants charter following negotiations with Guardians of the Arches, a campaign group supported by Hackney Council that represents existing businesses located in them.
Hackney Council has long campaigned for Network Rail, and now The Arch Co, not to hike rents and take a collaborative approach with tenants.
Small, independent businesses like those based in the 182 railway arches in Hackney are the lifeblood of the local economy and a vital part of the creativity and diversity our borough is known for.
We’ve backed the Guardians of the Arches since Network Rail’s sale was first announced, and we’ll continue to campaign for businesses to have long-term security in the spaces they have helped to popularise.
This pressure means The Arch Co have responded to some of traders’ concerns in this charter, but there is much more to do to reassure them.
We welcome the positive commitments to support longstanding tenants, especially to protect them from huge rent hikes that would put them out of business. These steps are the result of welcome dialogue and negotiation between all parties, which must continue.
We will continue to work with campaigners to stand up for local businesses and ensure their future isn’t simply left to the whim of the market. Hackney would be a much poorer place without them.