Paddington BID Renewal
Businesses have voted to renew PaddingtonNow BID for a fourth term, with a 92% majority by number and a 96% majority by rateable value. Turnout in the ballot was 61%.
Download the proposal here
Paddington is changing. Just as London doesn’t stand still, Paddington grows and adapts to meet the challenges that surround it. Paddington’s diverse mix of businesses, tourists, students, residents and shoppers gives the area a rich character. Demands on the area are high, with services, the public realm and amenities under pressure as footfall increases.
The arrival of the Elizabeth Line at the end of 2018 presents new opportunities and challenges, as the area serves a wider catchment area and London’s economic geography changes in response. Over 13 years PaddingtonNow BID has been delivering projects and services to the business community, future-proofing Paddington for the growth ahead of us.
- Whole streets have been transformed since 2005, with new paving, lighting and green infrastructure. Garden squares have been restored to create some of London’s best kept public oases. We expect to see similar schemes in the next term, plus an enhancement in street cleaning in response to likely increases in visitor numbers. A new focus on measures to improve air quality in Paddington will create an even better place to do business.
- Our Community Safety Team have been with us throughout the journey and for the BID’s fourth term we propose stepping up coverage and changing the way we deliver this service, to better tackle organised begging, anti-social behaviour and vice-related activity. We will field a four-strong team to patrol the BID area for a minimum of ten hours per day on at least five days per week, including nights and at weekends as required – week in, week out throughout the year.
- The BID’s recycling scheme, the first of its kind in the UK, has flourished to become one of the most popular and well-used of all BID services and will continue into the next BID term. We will be simplifying the scheme, to make it easier for businesses to recycle with the BID, and to achieve even lower contamination rates.
- With at least three separate, significant development schemes likely to commence in the BID’s next term, the time is right to craft a new retail strategy for Praed Street, working with property owners, Westminster City Council and local stakeholders.
- The BID can be a great ‘connector’, rallying businesses to forge relationships with agencies and suppliers to improve commercial performance and stand up for Paddington. Businesses unanimously told us they wanted to see the BID speak for Paddington, for businesses in Paddington.
- Place-making will be central to the BID’s fourth term, and the BID has a vital role in helping shape future Paddington. Not simply as a voice for businesses, but as a leader in creating brand Paddington. Connecting business and community remains central to this, and our partnership with residents will help us deliver a Paddington of which we can all be proud.
Recognising the financial pressure under which many businesses find themselves, in our fourth term we will raise the rateable value threshold for BID liability to £30,000, reset the BID multiplier to 2005 levels, charge no inflation and freeze the cap at £22,500.
- The existing BID area boundaries will be retained without change in the renewed BID, covering 34 streets.
- Within the BID area there are just over 300 rateable business units (hereditaments) with rateable values of £30,000 or more which together have a combined rateable value of approximately £60 million.
- The BID will raise an estimated £800,000 each year from its business members, supplemented by voluntary contributions and grants, taking the annual budget to an average of £828,000 each year. Total income and expenditure in Paddington of £4.1 million is predicted over the proposed five-year BID term which will be spent to achieve business ambitions.
Please email firstname.lastname@example.org for any information about the BID’s renewal.