CMS, now part of Savills, has successfully developed Business Improvement Districts (BIDs) in a further five locations including Bishop’s Stortford, Stoke-on-Trent, Maidstone, Saffron Walden and Colchester.
CMS, now part of Savills, has successfully developed Business Improvement Districts (BIDs) in a further five locations including Bishop’s Stortford, Stoke-on-Trent, Maidstone, Saffron Walden and Colchester.
The ballots are set to unlock a combined levy income total of more than £8.420 million over the next five years. The funds will be invested into projects and initiatives in the towns and cities voted for by businesses within the newly established BIDs.
Colchester businesses recently voted in favour of a BID for the first time, with the idea having been rejected some years ago.
Paul Clement, head of place shaping at Savills said: “The results of the ballots follows the findings of the recent Grimsey Review, which highlighted some of the underlying issues impacting our town centres and what needs to be done in order to transform British high streets.
“Consequently, we have helped each location to create ambitious business plans to help pave the way for innovation and change and as a result are set to make a real and tangible difference to the places concerned. What’s clear is that the BID process is now the preferred mechanism to respond to the current pressures facing the high street and to help cultivate a destination in which people will want to live, work and play.”
CMS, Central Management Solutions, based in Ipswich, was acquired by Savills in May 2018.
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