Tube networks, Crossrail, HS2, London buses and road networks are all receiving investment to make sure that London can cope with the population boom that is rapidly approaching. But so too is a much more environmentally friendly network.
London mayor Boris Johnson has been seeking to improve both the number of cycling journeys made in the capital since introducing a bike rental scheme in 2010. ‘Boris bikes’ have been a roaring success, with more than 30m rentals of over 11,000 bikes from some 700 docking stations.
However, the scheme is not without its problems. For users of the bikes, there is the need to find a location to re-dock. For initial investors in the project, the scheme could cost as much £28,000 per bike and running the hire business is reported to cost the taxpayer some £4,000 per bike per year.
But a new kid in town is seeking not to compete directly with the Boris bike, but to provide an alternative option.
That scheme is the Brompton Bike Hire. Originally launched in 2011, the British-made folding bicycle company is back with a new, improved scheme. Run by former CBRE director Harry Scrope, it is keen to put its mobile-phone controlled bike lockers at mainline commuter stations in central London and has had positive early discussions with Network Rail.
The system costs a fraction of the Boris bike scheme at just £3,200 per bike – or £1,200 per bike for in-office lockers – and as little as £2.50 per day for consumers.
Scrope is in talks with both Transport for London and the Greater London Authority to see how the lockers can form part of the capital’s pledge to improve the cycling network, and how it could even become an element of section 106 agreements.
Alongside partnerships with half a dozen local authorities, he is now in talks with the developer community – including the likes of Argent, Crosstree, Blackstone and the owners of Battersea Power Station – about installing the docks at their schemes.
Scrope says the Brompton Bike Hire is a simple investment for developers, with all maintenance costs of the scheme taken on by Brompton. And with a block of lockers for four bikes taking up as much space as one Boris bike, the scheme frees up more space for public realm or rented commercial space.
Having a cycling facility nearby is becoming increasingly vital from an investor perspective, too.
According to estate agent Marsh & Partners, proximity of Boris Bike docks will soon have a positive impact on house prices, while in the commercial world an occupier base is responding to the boom in cycle commuting among its employees.
Find out more at www.bromptonbikehire.com
