South banks private finance

A cultural boom is taking hold on London’s South Bank, despite a poll conducted by CultureLine revealing that over half of north Londoners never venture south of the river for cultural kicks and leisure activity. Not one, but three new arts spaces are set to open – all completed without a penny of public subsidy – within a stone’s throw of one another. Waterloo East, the brainchild of theatre producer Gerald Armin, is the newest addition to the city’s cultural strip of arts venues south of the river. Built in six weeks and privately financed by Armin and two business partners, the 150-seater venue has opened for business under a railway arch owned by Network Rail. The opening of the new theatre coincides with the launch of Blackfriars Road, a gallery showcasing the work of unrepresented artists (from recent graduates to mid-career practitioners) steps away from Tate Modern. Viewpoint Studios has invested an undisclosed, seven-figure sum in the gallery and has also agreed to house it. Finally, Shakespeare’s Globe (whose uniquely successful business model is examined further on p6) has detailed its plans for The Sackler Studios, due to open by the end of 2010. The long-awaited project, funded by charitable and private donations, is part of the Globe’s Education arm. Costing £6.1m, The Sackler Studios will house four workshop studios and a rehearsal space for students and theatre practitioners