Hatton Garden businesses say ‘YES’ to another five years of investment
Multi-million pound plan secured as BID renewed for second term
Local businesses have voted overwhelmingly in favour of renewing the Hatton Garden Business Improvement District (BID) for a second five year term.
The successful ballot result announced today (Friday 26 March 2021) means the BID will be able to continue to deliver ambitious improvements in the area around Hatton Garden.
Of those businesses that voted, 80% voted ‘yes’ at the ballot (86% by rateable value).
The ballot announcement is a strong endorsement of the achievements of the BID under its first five-year term, after it was established in 2016, and also a show of support for increased public / private collaboration being seen across London.
The BID team, led by specialist regeneration consultancy Primera Corporation, will work with Camden Council and other partners to deliver the business plan that was published in advance of the ballot being held.
Hatton Garden is London’s historic jewellery district, home to the largest cluster of jewellery related businesses in the UK, and now home to a growing number of businesses from other sectors wanting to locate in a bustling, thriving destination with a strong sense of identity. The BID will now be able to continue its work to enhance the area with a range of programmes - from street cleaning, ambassadors and greening to destination marketing and public realm improvements. Approximately £2 million will be invested into the area over the next five years.
The BID’s second term comes at a pivotal point for London as the vital COVID recovery gets underway. With the economy beginning to open up once again, and businesses eager to stabilise and grow, the BID stands ready to support the Hatton Garden business community. The much delayed Elizabeth Line now looks finally close to opening, bringing an additional one and half million people to within 45 minutes of Hatton Garden. The BID’s second term commitments seek to maximise the growth opportunities on the horizon and tackle issues that could hinder business growth and area vibrancy.
The ballot success comes at a time when BIDs are going from strength to strength across the capital – London’s 67th BID for Whitehall was established just a few weeks ago. There is growing acknowledgement that all areas in the capital are raising their game, no matter how well known or iconic. The drive to compete for the best talent, a rightful share of the tourist market and entice domestic visitors has never been more important. Through BIDs, public / private partnerships are playing a key role in this area curation and promotion.
Gary Williams, Chair of the Hatton Garden BID, said:
“This is an important milestone for Hatton Garden and the whole of our community – businesses have spoken and endorsed the BID’s ongoing vision for the area. Hatton Garden is already one of London’s great districts, with a diverse business mix, wonderful character, unique venues and ideally located, but it has the potential to be even better. We live in uncertain times, but through the careful curation of the area over the last five years and in our second term, we are on a mission to ensure Hatton Garden benefits from the renaissance of London in the coming months and years.”
Debbie Akehurst, Director of Primera Corporation, Executive Director of the Hatton Garden BID said:
"BIDs in the capital are a powerful and strategic force for good. From transformational public realm projects, to supporting small businesses and making areas safer, cleaner and more pleasant places to visit or work, BIDs have a proven track record for driving change and innovation. This positive result means that the opportunity for Hatton Garden is significant, giving the private sector a real say in the future evolution of this fantastic location.”