BVE 2015: The spiralling cost of rent in Soho is one of the biggest challenges facing the post-production sector, according to the managing director of Molinare.
Speaking at BVE today, Julie Parmenter said rents had doubled over the past few years and when Molinare comes to renew the leases of its two buildings in December and next year, it could present a “pinch point” for the facility if it has to find alternative premises for its 38,000 sq ft operation.
Envy managing director Dave Cadle added that advances in technology had helped to “sweat” buildings by allowing post firms to complete a range of tasks in a single room.
Parmenter also raised the prospect of post firms relocating from Soho to another London location en masse.
She said: “We try to weigh up the increasing cost of being in Soho versus the limited budgets we have to make programmes. Soho works because facilities are together.
“As business owners, we have to look at a back-up plan for a few years’ time in case we are priced out, because if there is an area that works, there is a benefit of being close together.”