In the 1970s, artist Michael Craig-Martin rented two studios in a warehouse overlooking the Thames in London, for the bargain price of £10 a week. Now, his former studio spaces have been converted into multi-million pound luxury apartments. While these much sought after residences are delighting residents who can afford them, the loft conversion trend has worrying implications for the artistic community. Craig-Martin, who spoke at a conference yesterday aimed at addressing the problem of diminishing spaces for artists, is among those concerned.