BASINGSTOKE, 13 November 2015
Basingstoke Town Centre is set to benefit from nearly £2 million of private sector investment over the next 5 years after local businesses have voted in favour of creating Basingstoke Together, a Business Improvement District (BID) for the area. The team of local businesses behind the BID campaign are delighted the proposal was given the green light today with 173 businesses taking part in the ballot and 116 of these voting in favour of the BID.
Laurence Martin, Chair of the Basingstoke Together BID steering group said, “We’ve got lots of ideas to really improve the Town Centre for shoppers and other users and shout about what a great place it is. As a town centre business and Basingstoke resident, I’m really excited that we now have an organisation and funding in place to make these happen.”
Work on the BID proposal and campaign so far has been made possible thanks to the efforts of a wide variety of local businesses from the area that stretches from the railway station to the Top of Town. Support from BID specialists, The Means, who have set up BIDs across the UK was integral to the campaign’s success.
In a drive to make Basingstoke better for business, Basingstoke Together aims to:
- Promote Basingstoke Town Centre to regular customers and new visitors
- Support and connect local businesses
- Improve the visitor experience
The council’s Deputy Leader, with responsibility for the town centre, Cllr Terri Reid said “It is fantastic news that local businesses have voted in support of a Business Improvement District for the area.
“It’s vital for town centres to gain a competitive edge and bringing all the businesses in the area together to help improve what is offered to the people that live and work in Basingstoke can really help to achieve this. The council is committed to working with local businesses to ensure that Basingstoke Town Centre is a thriving retail and leisure destination and we look forward to working with the Basingstoke Together BID on this.”
37.74 % of businesses within the proposed BID area voted in the Basingstoke Together BID ballot. 67% % of those voted in favour of the BID with the ‘yes’ votes representing 66 % of the total rateable value of all the properties that voted. In line with BID ballot regulations, Basingstoke Together needed to secure at least 51% of ‘yes’ votes on both counts to win the ballot.
The full BID term will last for five years from April 2016 to April 2021. Nearly 500 businesses with a rateable value of more than £10,000 will contribute a levy up to a maximum of 1.4% of their rateable value every year to the BID. This will generate nearly £2 million of private sector funds that will be reinvested back into Basingstoke Town Centre.
Alan Stone, Chair of the Top of the Town Association and member of the Steering Group said, “We would like to thank all the businesses for their support throughout the campaign, for having confidence in Basingstoke Together and for voting ‘yes’. We could not have achieved this without their backing.”
The Basingstoke Together BID proposal, which sets out the BID’s 12 pledges can be viewed online at www.Basingstoketogether.co.uk