The British Property Federation has welcomed changes that allow landlords and property owners to participate in business improvement districts.
Following a consultation, the government has confirmed that the role of landlords is crucial to the future success of town centres and that they should be part of BIDs where there is local agreement.
BPF director of policy Ian Fletcher said: “By including landlords in BIDs, high streets will benefit from more funding, increased investment and the long-term perspective that a property owner can bring.
“There has been strong cross-sector support for this change as landlords are play a hugely important part in a healthy high street and it is encouraging to see that government has recognised this.
“We look forward to working with government to get the necessary legislation in place for London, and after that to get new legislation in place that will extend this model to BIDs around the country.”
Richard Dickinson, chief executive of New West End Company, the business improvement district for London’s West End, said: “A group of major property owners in the West End created New West End Company and have been very generous in their voluntary contributions for many years.
“But a formal Property BID in the West End will allow us to engage all our large property owners so that they contribute money, expertise and experience to enhance the West End and retain its position as the world’s top shopping destination.”
nick.whitten@estatesgazette.com
