Another nail in the coffin of the notion of Shoreditch as an artistic area: The Foundry, a bar and underground art gallery, is to be demolished, and replaced with a boutique hotel and shopping complex. Hackney Council has refused to designate the area as an "artistic space", which would have required them to seek to resettle it elsewhere; however, before it is demolished, a section of wall containing a Banksy stencil will be preserved, for later inclusion in Park Plaza's new hotel complex.
"If you go there you realise that it's not like any other space in London," said Turk. "Shoreditch has become so commercialised, like the new West End, and there isn't really anywhere that runs like the Foundry does."If the owners of the Foundry do relocate, I wonder where they'll go; whether they'll stay in the east end, moving outward to Dalston or Bethnal Green, or whether they'll leap the Thames and set up in Peckham, said to be the new "blank canvas" for up-and-coming artists in London.