First Two Property Owner BIDs arrive in Heart of London29th June 2015 / Posted by CRP Team
In a recent ballot property owners in the heart of London voted to form the first two Property Owner BIDs in the UK: Piccadilly & St James’; and Leicester Square and Piccadilly Circus. Well done to all concerned!
Four fifths of ballot card holders voted in support of creating a Property Owner BID in Piccadilly & St James’ on an impressive 88% turn out. On a lower turn out an overwhelming majority voting in favour ensured the creation of a Property Owner BID in Leicester Square and Piccadilly Circus.
These developments come in on the back of regulatory amendments introduced only last December. The creation of a property owner BID follows a similar consultation and ballot process as that required for the creation of an ‘occupier’ BID, of which there are now more than 40 across the capital. The Mayor of London, Boris Johnson, is wholeheartedly in favour, having established a £280k fund to support the creation of BIDs.
‘Occupier’ and now Property Owner BIDs provide a form of local business democracy enabling the business community to help shape the area where they work, whether that be in the form of public realm improvements, enterprise or training support, business growth and job creation or improving waste and cleansing services formerly provided by local authorities.
Robert Jewell, Portfolio Director – Land Securities and Chair, Property Owner BID Leadership & Steering Group, said: “Through our collective input and funding power, the BID will ensure sufficient resources are directed at the priorities we dictate. Public space requires careful thought and investment to maintain its integrity and to create the experience which allows us to flourish within it.”