Occupy London protesters take over third space

Occupy London has announced that it has taken over an abandoned office block in east London belonging to the investment bank UBS.

A statement said a dozen activists from Occupy entered the building in the borough of Hackney and secured it overnight on Thursday, in a move the campaign describes as a “public repossession”.

The campaigners said that the occupation gives them a legal claim on the multimillion-pound complex, which has been empty for several years.

The building, which becomes “Occupy’s Bank of Ideas”, is the group’s third space and its first building, adding to its two camps at St Paul’s Courtyard and at Finsbury Square.

We hope this is the first in a wave of ‘public repossessions’ of property belonging to the companies that crashed the global economy.

Occupy London supporter Jack Holburn said: “Whilst over 9,000 families were kicked out of their homes in the last three months for failing to keep up mortgage payments – mostly due to the recession caused by the banks – UBS and others financial giants are sitting on massive abandoned properties.”

“As banks repossess families’ homes, empty bank property needs to be repossessed by the public…

“We hope this is the first in a wave of ‘public repossessions’ of property belonging to the companies that crashed the global economy.”

The group says the space will be reopened on Saturday morning and will host an events programme, including talks from Palestinian activists, comedy and a session led by trader Alessio Rastani, whose claim in an interview that traders dream of a recession sent shockwaves through the media.

Sarah Layler of Occupy London added: “The Bank of Ideas will host a full events programme where people will be able to trade in creativity rather than cash.

“We will also make space available for those that have lost their nurseries, community centres and youth clubs to savage Government spending cuts.”

The movement says that the Bank of Ideas is a non-residential occupation and it has asked visitors not to bring their sleeping bags.

The complex is owned by Sun Street Properties Ltd, a wholly owned subsidiary of UBS.