Lost and Found Project
Get creative with your space
What is the ‘Lost and Found Project’?
The Lost and Found Project connects asset owners and creative practitioners by bringing disused or under-used buildings into commercial use. A studios could be set-up in windmill stumps, disused churches, railway carriages, loft spaces, outbuildings, barns and sheds.
Our aim is to create a network of hubs that provide artists with facilities and support, linked to a series of dispersed studios. The outcome will be a community of artists who are given the facilities and support to achieve their creative potential, in locations that suit them.
What is in it for a land/property owner?
The Lost and Found Project will create an income from assets that are not currently productive. Russell Studios can facilitate this through renovation, marketing and managing a space, and acting as a single point of contact for users.
How much can I charge for a space?
A short site visit will allow us to provide you with an estimated potential rentable value.
The approximate national average for the cost of a studio is around £1.60 per square foot, per calendar month. However, these spaces vary considerably in quality and facilities. For example, a space with a fully equipped photography studio, ventilation system, phase three power, full kitchen and stunning view may be worth over £15 per square foot. Alternately, a space with limited natural light and no water supply would likely be closer to £1 per square foot per calendar month. As a result, a space of 100 square foot may generate between £1,200 and £18,000 per annum.
What size is appropriate for a studio space?
These can range from 50 square feet to 500 square feet. The average studio measures between 100 square foot and 150 square foot.
What facilities would be needed?
Following a short site visit we can advise on the suitability of a space.
The facilities offered can vary, some may benefit from bathrooms, water and electricity and kitchen facilities. It is important to consider access to toilet facilities, parking availability and the potential impact on surrounding activity.
I have a space I only use for part of the year; would this be suitable?
Maybe. Many creatives operate on an annual cycle of exhibitions, shows and creative time. Each artist is different, and the idea of a studio for 6 months a year could be very attractive for some. Often, we would recommend exploring the option, as there may be the perfect client, who could help you make more of your property.
Why partner with Russell Studios Ltd?
We understand the market for both business properties and artist studios. Providing space and facilities for creatives is our specialism.
We add value to your property through our ‘hub and spoke’ business model. Russell Studios has a series of creative hubs that are available for all members. Any artist renting your space has the benefit of all our other facilities and support.
Unlike an estate agent, we directly market your property to relevant disciplines and geographies.
We can reduce the time and organisational pressures by managing the space on your behalf. We look after the marketing, client relationship, any non-structural issues and can oversee a full renovation if required.
Alternately, you may choose to market and manage the space yourself, but want some expertise to get the ball rolling. We can also support you in a consulting role.
How can I find out more?
if you are interested in discussing a potential ‘Lost and Found Studio’ please send us an email at hello@russell-studios.co.uk or use the contact button below.
