The Assistant Director for Regeneration and
Economic Development agrees:
To award Cypress House Management, a loan of £127,727.00
subject to a loan agreement being entered. The loan will be subject
to 7.5% interest and the loan repayments to made over 60 months
with interest.
The loan will be used by the borrowers to carry out building and
refurbishment works to bring back into use two commercial units in
a prominent location at 2 Coburg Road, N22 6UJ. The project will
create 25 affordable studios and an exhibition and event
space.
The proposed units have been vacant for over 1.5 years in an area
that is experiencing a high demand for flexible and affordable
workspaces. The loan will be used to improve the overall quality of
the building, incorporating measures to make the space to comply
with the forthcoming Energy Performance Certification and intensify
the quantum of employment space in the area.
Creating more affordable and flexible employment spaces and
supporting creative sector businesses are high priorities for the
Council’s Opportunity Haringey.