Major landlords in Baker Street, W1 and NW1, have formed a new partnership aimed at attracting investors to the area.
The Baker Street Quarter, made up of eight stakeholders, including British Land and The Portman Estate, has the task of becoming a business improvement district by spring 2013.
Its key targets for the next two years are: promoting the Baker Street and Marylebone area, delivering a high-quality public realm, and developing a premier business hub.
The other partners are: Knight Frank; Hyatt Regency London – The Churchill; Loftus Family Property; Great Portland Estates; Home House; Derwent London.
City of Westminster and the Metropolitan police are also supporting the Baker Street Quarter.
Richard Loftus, managing director of Loftus Family Property, said: “We believe that this initiative will ensure that the Baker Street area continues to develop as a prime West End location for offices, retail and residential.”
A five-stage plan has been devised to achieve BID status, beginning with consulting local businesses, to unveiling a proposal, and with a BID operation commencing in April 2013.
joanna.bourke@estatesgazette.com
