ARTFEED — Contemporary Art Intelligence

Acme Studios faces backlash for 7% rent hike during pandemic while other UK providers offer cuts

institutional · 2026-04-20

Acme, a provider of artist studios in London housing 800 creatives across 16 locations, announced a 7% rent hike set to take effect on April 1, 2020, despite the challenges posed by COVID-19. In response to financial difficulties, they offered three-month payment deferrals and 50% rent reductions on a case-by-case basis, drawing criticism from artists such as Michael Iverson and Shaan Syed. Other studio providers in the UK adopted various strategies, including rent waivers. Acme justified the increase by highlighting concerns over occupancy rates and unpaid rents linked to the pandemic. On March 27, 2020, codirector Lea O'Loughlin noted that they had reached out to tenants regarding payment options and stressed the importance of gradual rent increases to prevent significant future raises, cautioning that many studios might close without government support.

Key facts

  • Acme Studios implemented a 7% rent increase effective April 1, 2020
  • Acme operates 16 properties in London housing around 800 artists
  • Acme offered three-month payment breaks to all tenants and case-by-case 50% rent reductions for financial hardship
  • Artist Michael Iverson criticized the rent hike on Instagram, questioning the benefit of accruing debt
  • Artist Shaan Syed told ArtReview that Acme's case-by-case approach perpetuates artist subservience
  • Other studio providers like Space, Gasworks, Turf Studios, Grand Union, Wasps, Thames-Side Studios, and Spike offered rent postponements, waivers, or reductions
  • Acme directors cited reliance on 100% occupancy and minimal arrears to keep rent increases low, challenged by COVID-19 restrictions
  • Acme codirector Lea O'Loughlin clarified support measures on March 27, 2020, and warned of potential loss of hundreds of artist studios in London without government funding

Entities

Artists

  • Michael Iverson
  • Shaan Syed
  • Tai Shani

Institutions

  • Acme
  • Space
  • Gasworks
  • Turf Studios
  • Grand Union
  • Wasps
  • Thames-Side Studios
  • Spike
  • ArtReview

Locations

  • London
  • United Kingdom
  • Croydon
  • Birmingham
  • Glasgow
  • Greenwich
  • Bristol

Sources