New West End BID gets go-ahead
London's New West End Company, which represents retailers in 25 London streets including Oxford, Regent and Bond Street, has been given the green light for its ballot to become one of the first UK Property Owner Business Improvement Districts (BIDs).
96% of property owners voted yes to a new £16m investment plan for the West End, and New West End Company will manage the new, combined, BID from January 2016. It will work with partners Westminster City Council, Transport for London and the Mayor of London.
Jace Tyrrell, New West End Company, said: “Today marks a major step forward for our businesses and a £16m boost for the largest and most dynamic retail destination in the world. Property owners and retailers are now part of an organisation committed to driving forward the commercial success of the West End’s retail district. It is a privilege to be the strong and unified business voice for our area.”
The Mayor of London Boris Johnson MP, said: “The West End’s retail district is not only an essential component of the London landscape but a major contributor to the UK economy. I congratulate New West End Company on this fantastic achievement that will bring about a unified voice for retailers and property owners throughout London’s West End and champion the needs of the area to secure its future success as a world-class retail destination.”
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