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London Bourse Reaches Out to Jewelry Workshops
Jul 31, 2016 7:35 AM
By Rapaport News
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RAPAPORT... The London Diamond Bourse (LDB) launched a new membership
category that enables workshop owners to maintain a presence in the city’s
diamond district after soaring rents have forced them to leave.
The LDB is offering mounters, setters and polishers space in
the bourse to meet customers and letting them use the exchange’s postal
address.
Rents in London’s Hatton Garden have doubled to $93 (GBP 70)
per square foot in the last year three years, according to a Reuters report
June 21 that cited commercial property agency Richard Susskind & Company.
“We know that many mounters, setters and polishers in Hatton
Garden are, or are under threat of, relocating away from the area,” said Victoria
McKay, the LDB’s chief operating officer. “This is because they are being
served notice or finding their rents being pushed to unaffordable highs. This
pressure from the property market presents problems as it could lead to the
London trade becoming fragmented.”
LDB does not have the facilities to accommodate the actual
workshops, McKay added.
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Tags:
finance, hatton garden, LDB, london, London Diamond Bourse, Rapaport News, rent, u.k., Victoria McKay
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