Business Improvement District
Following on from our £30 million Hemel Evolution regeneration programme, we have teamed up with property investment trust Capital and Regional, who earlier this year bought the Marlowes Shopping Centre for £53.8 million, to promote the development of a Business Improvement District (BID).
We hope the establishment of a Business Improvement District will create further opportunities for local shops and businesses.
Both ourselves and Capital and Regional share the common goal of strengthening and diversifying the town centre economy, and feel that a BID is the natural progression.
Councillor Graham Sutton, our Portfolio Holder for Planning and Regeneration, said: “We’ve laid the foundations for a revitalised town centre and opened the doors to investors. The time is now right to work in partnership with the private sector to help businesses in Hemel Hempstead decide what is right for their town and take an active hand in achieving their goals.”
Ken Ford, Executive Director of Capital and Regional, said: “Together with Dacorum Borough Council, we want to create new opportunities for businesses and investors. A BID will unite them behind the common goal of creating a thriving retail and leisure destination and strong local economy.”
Specialist management and consultancy company Central Management Solutions (CMS) has been appointed to carry out the BID development alongside the existing Town Centre Partnership.
CMS will begin developing feasibility plans this autumn (2016) to establish the needs and priorities of businesses in the area, looking towards a ballot in late 2017. The next step is to help businesses in the area to decide what is right for their town.