Ridley Road Shopping Village declared an Asset of Community Value

On 13 December Hackney Council decided that Ridley Road Shopping Village (the covered market building and land at 51-63 Ridley Road) is an Asset of Community Value (ACV). Hackney's Director of Strategic Property Services' decision results from an application made by Save Ridley Road campaigners last October.

The decision noted that the ground floor had longstanding uses as small retail units and storage areas, with some open space fronting the building, and upper floors used by artists and others in the creative industries. The decision concluded that, in view of the current use, the building and land "furthered the social wellbeing or social interests of the local community" and "was of community value" .

The Shopping Village has been a contested space in Ridley Road since its purchase for £6.5m by off-shore investors in 2016. The developers have an outstanding application to turn most of it into upmarket offices and flats. You can read the latest campaign news here.

The community rallied in October last year and resisted the developers demand that traders get out within 14 days

The Council's decision also noted that "there was no reason to think that the building and land  could not continue to  further the social wellbeing or social interests of the community,whether or not in the same way". The developer now has 8 weeks to request the Council to review its decision.

            The developer has recently submitted some design changes to its planning application. It has now omitted building over the forecourt's open space ( which will be landscaped) and it proposes to  retain 21 of the existing 60 small retail units on the ground floor and to retain  360m² (50%) of the 718m² of existing basement storage facilities. It still proposes conversion of all the artists' studios into “high standard commercial accommodation” ( 10% of these offices will be "affordable") and a new storey with 5 “very high standard” family flats (now of increased size to meet minimum standards). 

The Council's Planning Committee will in due course have to decide whether the developers application should be given planning permission. 

More news: Hackney will allow free parking around Ridley Road from 14th to 21st December to help boost the market's economy.