Published: Monday 29 November 2021
King’s Road businesses have voted overwhelmingly to establish a new Business Improvement District (BID), which will secure £4 million investment in the local area over the next five years.
The new BID is set to come into operation on 1 December 2021, bringing new private sector investment to help the district recover from the impact of COVID-19, upgrade the public realm, improve traffic management, enhance the local environment and promote the area.
The vote took place on Friday 26 November, with 85 per cent of businesses who voiced their opinion strongly supporting the BID. Together they represent over 94 per cent of the total rateable value in the district.
This follows the launch of the first-ever BID in the borough in Brompton Road, which began on 1 October 2021, and the two BIDs will work closely together.
Cllr Elizabeth Campbell, Leader of Kensington and Chelsea Council, said:
“Following the launch of our first Business Improvement District in Brompton Road last month, it’s another positive step that the BID in Kings Road is going ahead.
“These BIDS are vital in supporting our local businesses and protecting our high streets both now and in the future, particularly as our local economy recovers from the effects of the pandemic.”
Hugh Seaborn, Chief Executive of Cadogan and Chairman of the King’s Road Partnership said,:
“This is a great result for the King’s Road. The BID will act as voice for businesses and continue the programme of improvements started by local landowners which benefits everyone who lives and works here. The BID will work in partnership with Kensington and Chelsea – who have been supportive throughout – the Mayor and local resident and amenity groups to help secure a vibrant, viable and sustainable future for the King’s Road”.
You can read more about the King’s Road BID at kingsroadbid.co.uk