The Victoria Westminster BID is a Business Improvement District covering an area of national significance in Central London and working closely with the Victoria Business Improvement District.
The benefits of a business improvement district are clear to see with 55 BIDs in operation across central London and over 300 within the United Kingdom. The Victoria Business Improvement District was the BID proposer of the Victoria Westminster Partnership and is a fully established BID now in its 3rd term.
The Partnership was originally established in October 2016 to help support and influence businesses to move forward with the ever-changing needs and aspirations for the area. The group was made up from landowners, developers, members of the local business community and key stakeholders such as Transport for London. Building on the success of the Victoria Business Improvement District there was significant interest from the business community to extend the footprint to cover a wider boundary.
In September 2018, The Victoria Westminster BID was formed after an overwhelming 83% of levy paying businesses voted ‘yes’ at the ballot with a 57% turnout, firmly endorsing the £5.6 million investment plan, aimed at ensuring the area reaches its full economic and cultural potential. The establishment of London’s 60th Business Improvement District (BID) set a strong mandate to deliver ambitious improvements in the area that includes Parliament Square and Westminster Abbey.
The area is a key tourist destination which also houses the seat of Parliament and offers a variety of historic and cultural assets. The BID aims to create an area where businesses are keen to be located and which provides a safe, exciting environment full of energy for employers, employees, tourists and local residents.
There has been significant redevelopment in Victoria and we are now seeing the benefit of these developments coming on stream; there are further exciting large developments underway such as the redevelopment of the old New Scotland Yard premises which will bring more opportunities and an even further offer to those already using the area and attracting more people to “work, rest and play” here.