Almost £700,000 will be invested in office space at Richmond Adult Community College (RACC) to help deal with the loss of offices in the borough.

Richmond Council and RACC have secured funding from the Mayor of London and the £663,000 investment will provide ‘hotdesk’, artistic studio and permanent office space at the Parkshot site.

It is hoped the Bridge@RACC project will attract more than 500 businesses and charity staff in its first five years.

Councillor Pamela Fleming, Richmond Council cabinet member for environment, said: “If successful, the new ‘co-working hub’ will not only provide an affordable, central place for people to work and create.”

Gabe Flint, RACC principal, added: “The building lends itself very well to this use and we already have significant interest in space in the facility from several voluntary organisations and businesses.”

Mayor of London Boris Johnson said: “It’s important that we make sure they continue to meet the needs of a rapidly evolving city and the talented people who are key to its future success.”

The Bridge@RACC co-working space aims to open in April 2017.