Lambeth proposes new Business Improvement District

Lambeth proposes new Business Improvement DistrictBusinesses throughout Tulse Hill and West Norwood are planning on joining forces to increase growth in Lambeth Town Centre. The coalition of companies has managed to secure funding from the mayor of London and Lambeth Council, which will be put toward the creation of a Business Improvement District (BID).

The aim of the district is to provide a boost to the area, in line with it becoming a popular community in South London. A number of big businesses have opened in the area, including West Norwood Health and Leisure Centre, which opened last summer. 

More openings are also planned for Lambeth, including a four-screen cinema, which is due to be constructed in Norwood High Street following an announcement last month (December). The high street will also see refurbishment works to the public library.

As there are more independent businesses opening on Norwood High Street, the West Norwood Business Association has started working in collaboration with Cross River Partnership regeneration specialists and Lambeth Council to create a BID. If the proposals allow for its creation, the BID will create further opportunities for companies in the area and the community as a whole.

If things go to plan, the West Norwood and Tulse Hill BID will be the seventh such collaboration in Lambeth, placing it as the borough with the most BIDs in London.

Councillor Jack Hopkins, Lambeth Council cabinet member for jobs and growth, said: “We’ve already seen, with six other BIDs across Lambeth town centres, what a positive impact it can have to bring businesses together and create an income for that specific area.

“Local people and businesses know what the priorities should be in West Norwood and Tulse Hill and this is their opportunity to lead.

“A strong business community means a strong local economy and that breeds a stronger community with more opportunities for Lambeth residents.”

If the businesses in the area agree to the BID, each of them will pay a small levy into the BID fund. This will be used to find solutions to priorities in the area, such as cleaning the high street and making it more visually appealing. It will also go toward marketing in a bid to drive footfall to local shops and companies.

Published 28th January, 2015

© 2015 Estates IT Limited

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