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£5million investment for Liverpool city centre as business votes ‘yes’

1 year ago

£5million investment for Liverpool city centre as business votes ‘yes’
Credit: Liverpool BID Company

Retail & Leisure BID (Business Improvement District) area to be increased to include Hope Street, along with a programme of summer festivals and the city centre Christmas lights have received an investment.

Liverpool city centre will get an investment of £5million after its businesses voted “yes” in a ballot for the Retail & Leisure BID Area. 84% voted in favour 

The investment will be spent on animation and marketing, street cleaning and maintenance of the public realm alongside networking and business events. It is the fifth term of the Retail & Leisure BID, seeing it run until summer 2028.

The BID Area stretched from Lord Street to Bold Street, Renshaw Street, Williamson Square and the Cavern Quarter. It will now extend to Hope Street. 

Liverpool BID Company operates three BID Areas in Liverpool city centre; Retail & Leisure which covers the city’s shopping, leisure and hospitality heart; Culture & Commerce, taking in the city’s famous waterfront and reaching up to William Brown Street and Lime Street; the Accommodation BID, the first operating in the UK, which is exclusively for the city’s hotels and serviced accommodation providers. 

Liverpool BID is a not for profit, funded by an annual levy paid by those businesses which are eligible in designated areas of the city centre. Established in 2005, there are over 1,000 businesses in the city centre part of Liverpool BID Areas.

The services they receive include dedicated street cleaning, networked radios to provide better security and coverage, lobbying and connectivity to those in power, including at a local, regional and national level. The funds are also used for events and animation in BID Areas designed to tell the story of particular neighbourhoods, to attract visitors and to help businesses to thrive.

Liverpool BID also provides data services to help businesses understand how the city centre is performing. 

The budget will see £850k spent in Year 1 and £900K+ inYear 2, Year 3, Year 4 and with £1m+ Year 5. 

Alongside its regular role of working with city partners on safety, security, street cleansing, networking, connectivity and more, Liverpool BID has a series of proposals for the next five years. The plans include;

  • Supporting a summer of festivals showcasing the character of the city centre’s different neighbourhoods including Castle Street, Bold Street, Williamson Square and Hope Street
  • Investing in Christmas decorations and animation across the city centre
  • Seasonal campaigns to attract visitors to the city, from Valentine’s to Halloween
  • Greening the city centre and helping businesses to achieve Net Zero
  • Delivering on SRFs for the Cavern Quarter and Williamson Square to improve visitor experience and attract footfall 
  • Supporting cultural organisations to bring their activity into the public realm
Bill Addy of Liverpool BID Company

Bill Addy, CEO of Liverpool BID Company, said:

“We are delighted to be able to mark such an important year for Liverpool, and celebrate two decades of the establishment of the city’s first BID, with such a vote of confidence. Liverpool was one of the first cities in the UK to establish a BID and it fully reflects the approach of the city’s business community to commit to the city’s future.

“The levy from our businesses is an investment that goes towards making Liverpool a place to thrive, for those living, working and visiting the city. It is about working with our city partners to constantly improve and enhance the public realm, make the city more attractive, safer and easier to get around. 

“Without the BID, Liverpool city centre would be a very different place. As well as events and public realm investment and management, we lobby on behalf of our city centre businesses. To be a destination for visitors and investors, Liverpool has to be a place that works for everyone. Our rich mixed economy, in culture, retail, leisure, hospitality and commerce helps us to be a city that is growing in both confidence and prominence.

“We always want to ensure that, as a city, we do our best for business as well as for visitors. We look forward to the challenge of the next five years in Retail & Leisure.”

For more info about Liverpool BID company you can check out their website here.



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