The City of London Corporation in partnership with the Cheapside Business Alliance have developed a BID Proposal which sets out how the business community will work together on a number of projects to be implemented over the next five years. The business vehicle which has been implemented to enable the business alliance to work together is a Business Improvement District.
Cheapside has become one of The City of London’s most prestigious shopping destinations, offering visitors a fusion of contemporary shops and restaurants –transforming the area into a seven day destination. No other shopping, business and visitor location can compare with Cheapside, set against a backdrop of one of the most historic parts of London and surrounded by world-famous landmarks.
Once a medieval trading market, Cheapside has transformed into a first class retail location. This retail revolution represents a major business opportunity, anchored by two major retail hubs – One New Change and Royal Exchange. This has been further complemented over the last five years with over nine new developments providing home to a number of high profile corporate occupiers. This is set to be further enhanced with the redevelopment of the former Bucklersbury House - The Bloomberg Place Project. This exciting new development will include the development of two office buildings: a bespoke headquarters building for Bloomberg LP of approximately 515, 000 sq. ft. and a speculative building of approximately 230,000 sq. ft. on a three-acre site located in the Square Mile. The site is bounded by Cannon Street Queen Victoria Street, Walbrook and Queen Streets. The project completion date is scheduled for the end of 2016.
In recent times, Cheapside has seen an unprecedented level of redevelopment which has not only changed the face of the local retail, and leisure offer but it is fast becoming the destination of choice for even more high profile corporates, investors and developers. This demonstrates the area is a prime location in London as a unique place to do business.