A workspace studio in Park Royal is the first recipient of a loan from the Mayor of London’s development corporation for Old Oak and Park Royal (OPDC) to help small businesses and workspace providers in the local area.
Klatch Studios, which is located at 29 Park Royal Road, NW10 7LQ and was established in 2021, received a loan of £48,000 from the small business affordable workspace fund.
The Park Royal studio is host to the annual Ealing Novella Film Festival which celebrates diverse filmmakers and the loan will help it provide a new film and photography studio and green room which will also help create new jobs in the area.
David Lunts, chief executive of OPDC said: “OPDC’s Loan Fund supports high quality, genuinely affordable workspaces to thrive in the OPDC area, helping businesses to grow, creating more jobs for local people and boosting West London’s economy. Klatch Studios will now be able to improve and expand their sustainable studios.”
Jake Hatt, CEO of Klatch Studio added: “We are delighted to be a recipient of the OPDC Loan Fund. The loan has enabled us to fund the fit out of a higher spec soundproof film and photography studio to add to our existing offer in Park Royal. It has also allowed us to invest in infrastructure needed to raise the EPC rating of our building significantly and make it far more eco-friendly, as well as hire a second studio manager local to the area.”
Mr Hatt added: “Without access to this capital, we wouldn’t have been able to complete the project using the high standard of materials and construction needed to build a functional sound stage. We hope our new facility will be used by creatives in the immediate area.”
According to OPDC there is £300,000 of funding available until March 2025 for new and existing Park Royal-based food manufacturing and creative businesses to help them with growth.
Businesses in Park Royal can find out more by emailing: cez@opdc.london.gov.uk
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