West End 16 million pound BID approved

The New West End Company has won its ballet to become one of the first UK property owner business improvement districts (BID) following 97 percent of property owners voting yes for the investment plan for London’s West End.

New West End Company has been running a business improvement district for retailers in 25 streets including Oxford, Regent and Bond Street for the last decade, and it will now manage the new, combined BID from January 2016. It will continue to work with partners Westminster City Council, Transport for London and the Mayor of London in delivering “tangible improvements to its key shopping streets” for economic success and long-term growth.

Jace Tyrrell, chief executive of New West End Company, said: “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, added: “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.”