CREATIVE business hub The Whisky Bond has revealed that it now has more than 60 tenants as more start-ups turn to collaborative working spaces.
And tenants have reported a huge upsurge in deals struck among their businesses, creating what has been described as its own economic environment.
The Whisky Bond, in the Speirs Wharf area in north side of the city, opened in 2012 and has reached 80 per cent of capacity, even after being extended last year to meet demand.
Fiona MacFadyen, head of estates at Scottish Canals, which acts as asset manager of The Whisky Bond on behalf of its owners, said the growing demand for flexible working space illustrated the opportunity that now existed for business start-ups.
And the collaborative nature of the set-up means revenue is being generated through tenants winning business from others in the building who can fulfil specific requirements.
“There has been an economic impact on the city [from revenue generated by tenants] and it has been a catalyst for regeneration in the area,” she said. “There were empty buildings everywhere and the area is now drawing in all types of businesses, not just creatives.”
Having initially opened with 70,000sq ft of space, an extension in 2014 took that to 100,000 and as the units have filled up, the role of Scottish Canals has become more of a manager than a seller.
The company is helped by Taktal, a creative agency based at the Bond, which markets the facility and runs events.
Abi Neate-Wilson from the agency said that in the last year more than 60 contracts have been carried out between tenants, “creating an economic environment” within the building. These range from businesses using a fellow tenant to create a marketing video, to working with 3D printers and laser engravers at the facility.
The role of Taktal has also helped increase the profile of The Whisky Bond. “There is constantly something happening,” said Ms Neate-Wilson, who joined the business in October. “That makes it different to just an office space. That’s not to say it wouldn’t exist without Taktal, but working together creates opportunity, it brings something new to the working day.
“Painting the walls and getting fancy chairs doesn’t make a creative space, it’s how you use that space.”
Such facilities are becoming more commonplace, having originated in a London market where office space is simply unaffordable for start-ups, but in Scotland the opportunity is growing – and such is the example being set by The Whisky Bond that it recently welcomed a delegation from Africa which was examining creative hubs in the country.
In addition to individual spaces, there is growing demand for the co-working space known as The Distillery, which is home to freelancers and sole traders who are based at either open plan shared space or at a permanent desk.
“That brings people together to collaborate,” said Ms MacFadyen. “What we’ve seen there is organic growth, people moving from sitting with their computer to leasing space. That’s the real success story, how it has really benefitted businesses.”
Larger tenants range from the likes of Rabbie Denim, which manufactures designer jeans, and satellite developer Alba Orbital, to art technology firm ARN and Flux Laser Studio, a laser printing studio.
Flux was one of the first tenants to move into the Bond and Alice Jacobs, co-founder said: “When making our business plan, we saw what The Whisky Bond was trying to do and we thought it was the best place for us to be. Since we’ve been here we’ve seen a community build up around us.”
Flux has moved to a bigger studio such is the demand for its work, and next month it will take another step forward when it launches its own range of flat-pack wooden furniture, inspired by Glasgow, and available through a Kickstarter fund.
“We’ve picked up plenty of work through other tenants, either directly or indirectly,” said Ms Jacobs. “There is an internal network of referrals, which helps everyone.”
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