Published: Friday 11 February 2022
Businesses in and around Kensington High Street voted ‘yes’ to establish the area’s first business improvement district (BID), ‘Opportunity Kensington’. At the close of ballot at 5pm on Thursday 10 February, 88 per cent of businesses that voted supported the BID, representing 98 per cent of the rateable value of voting businesses.
The new Opportunity Kensington BID will launch in April 2022 and secure at least £5 million investment over the next five years to help the local economy recover from the impact of COVID-19 and support the long-term success of the area to benefit the whole community – businesses, residents, employees and visitors.
The BID is the third to be voted through in Kensington and Chelsea in the last six months, following Brompton Road in September and King’s Road in November 2021. Combined, the BIDs will generate £15 million in the next five years for the borough’s high streets.
Cllr Catherine Faulks, Lead Member for Economy, Employment and Innovation, said:
“This is a very special moment for us, not only because the Council organised and backed the development of this BID from the beginning, but also to be a part of this group of businesses working together to invest back into and benefit the local area that we love.
“Kensington High Street boasts a diverse range of high-quality shopping, dining, and London attractions and, with the support of Opportunity Kensington, we can really maximise its full potential. As well as being a visitor hotspot with some exceptional hospitality businesses, it’s a vital local hub for those who work and live here too.”
Siobhán Tighe, Director of Finance and Operations at the Design Museum, said, “We are hugely supportive of the BID and feel it will help revitalise a once iconic high street and celebrate the current range of local businesses. We are proud to be a key cultural destination on Kensington High Street and as our high streets change and adapt to new needs and behaviours, Opportunity Kensington will enable us to work together to build a thriving community.”
Gareth Quin, Commercial Director at the Royal Garden Hotel said, “The timing of the BID could not be better for the hotel sector. This is a pivotal moment to come together as a community after a challenging few years. As we look to re-open, Opportunity Kensington gives the area and its stakeholders the platform we need to make 2022 and beyond a success.”
The Opportunity Kensington BID will deliver services and initiatives which benefit the area centred around Kensington High Street, prioritised by businesses and the local community and in cooperation with those who live and work there.
Kensington is characterised by its diverse business and community interests and making the most of this mix is integral to the success and maintain the character of the area. Opportunity Kensington will work to reflect this inclusivity that ensures the relationship between businesses and the local community is further strengthened.
The introduction of the BID is part of other activity supported by the Council to improve local high streets and boost the local economy across the borough.
These include a design competition launched with New London Architecture for a project in Notting Hill Gate to create an exciting new public space and research commissioned from Centre for London last year has fed into new Local Plans which the Council will be working with communities on to enhance places in the borough with more greening, public facilities, seasonal events and more.
Find out more about the Opportunity Kensington BID at visitkensington.co.uk/opportunitykensingtonbid