Published: Tuesday 28 September 2021
The first ever Business Improvement District (BID) in Kensington and Chelsea was voted through on Friday (24 September) by Brompton Road businesses in the borough and neighbouring Westminster.
The new BID will result in £6 million of new private sector investment in the district over five years to help recover from the impact of COVID-19, upgrade the public realm, improve traffic management, enhance the local environment and promote the district as one of high-end luxury with good amenities for people who live and work in the area.
The Brompton Road BID is situated in both Westminster City Council and Kensington and Chelsea. 90 per cent of businesses who voted supported the BID and together they represent over 99 per cent of the total rateable value that voted.
Cllr Elizabeth Campbell, Leader of Kensington and Chelsea Council, said “As our first Business Improvement District in the borough, the creation of the Brompton Road BID marks a really exciting time of change and growth for our business community. With two other BIDs in the pipeline for Kensington High Street and King’s Road, we want to continue supporting the future of our fantastic local high streets.”
Hugh Seaborn, Chief Executive of Cadogan Estate and Chairman of the Brompton Road Partnership said “This is a great result for the Brompton Road. The BID will act as a voice for businesses and a catalyst for much needed improvements which will benefit everyone who lives and works here. The BID will work in partnership with our two local authorities, who have been supportive throughout, the Mayor and local resident and amenity groups to help secure a vibrant, viable and sustainable future for Knightsbridge.”
The BID will come into operation on Friday 1 October 2021. You can see more about the Brompton Road BID at www.bromptonroadbid.co.uk
The new BID is part of a range of interventions that the Council is supporting to enhance local high streets and boost the recovery of the local economy post-Covid. Other activity includes commissioning research with Centre for London; launching a new high streets survey for feedback on future interventions; and plans for a further two BIDs in Kings Road and Kensington High Street in the next few months.