Mayor of London pledges funding for capital’s high streets

The Mayor of London Boris Johnson has confirmed up to 9 million pounds of further funding to rejuvenate town centres across the capital, which he states are facing competition from out-of-town retail parks and online retailers. This further 9 million pounds is on the back of 221 million pounds of funding already

committed during his Mayoralty, and follows the publication of the ‘Mayor’s Action for High Streets’ plan, aimed at helping London’s high streets to thrive again.

Grant

s from the 9 million pound pot will be available from this autumn and the Mayor’s team is encouraging small businesses to take a leading role in bidding for the grants to boost their local town centres. The grants can be used to smarten up shop fronts, improve public spaces, or even to hold mini festivals, as long as it rejuvenates the town centre.

The Mayor of London, Boris Johnson, said: “Our High Streets have been under great pressure from the rapid growth of retail parks and internet shopping. But their great strength is that they offer so much more than simply shopping.

“They are where Londoners come together to work, relax, meet and play and they buzz with activity from morning to late at night. However they are also key to the London economy and that is why we must make the most of their huge potential. We are delivering a comprehensive plan that will do everything possible to protect and support their incredible vibrancy.”

Mayor of London pledges 9 million pounds to capital’s high streets

Figures from the Mayor’s office states that London’s high streets are home to 175,000 businesses, with 47 percent being outside central London, and they employ almost 1.5 million people. It also added that the largest growth sectors, which could provide much needed jobs, are the kinds of things that could be accommodated in and around high streets, highlighting the importance of rejuvenating the high streets.

This is why the Mayor’s team is highlighting the potential space for retail developments and new homes in locations such as above a supermarket or health centre, behind the railway station or on top of a car park. It is hoped that the funding will create hundreds of thousands of new jobs in and around the capital’s town centres, as well as deliver another 155,000 new homes.

The Mayor launched the new funding while visiting Bromley town centre, where funding from the Mayor, Transport for London, the Borough and local businesses is being used for a major overhaul of public space around the market square and town centre. Bromley is a major retail centre which hosts over 700 business and 20,000 jobs, and the area has utilised its funding to install new paving, shared surfaces, bus stops, new trees and outside seating to make the town centre more appealing.

Image: The Mayor of London Boris Johnson