A new five-year Cathedral Quarter Business Improvement District (BID) programme has been launched with the aim of building on the resounding successes achieved over the past ten years.
Cathedral Quarter businesses voted to renew the area’s status as a BID for a third term in November – paving the way for a new programme of initiatives with a budget of £1.5 million over five years which is made up of levy payments and supplemented by voluntary, private and public sector contributions.
A levy of 2% of rateable value will apply for businesses with a rateable value of £6,000 and above in the first year, whilst those with a rateable value of between £2,000 and £5,999 will pay a fixed amount of £105. Businesses with a rateable value of less than £2,000 will be exempt from the levy.
Martin Langsdale is chair of the Cathedral Quarter BID and leads a board of local business people and partner representatives who oversee BID activities.
We have achieved a great deal since the first Cathedral Quarter BID programme started ten years ago and we are looking forward to building on that success with a new programme agreed by local businesses.
“Thursday March 1 therefore marks the start of a new exciting era for this individual, diverse and inspiring part of the city centre.
“Since winning awards for both the ATCM National BID of the Year and the Great British High Street Award for best city location in 2016, we have been contacted by many other towns and cities who see us as a model of good practice whilst the reputation of the Cathedral Quarter continues to grow.
“The new BID will see a wide range of activities including the continuation of the valued Ranger team, work to raise the profile of all areas of the Cathedral Quarter and targeted work to tackle issues of street cleaning and business crime.
“Our efforts to promote the Cathedral Quarter to visitors will also adapt to the changing demands of the consumer as well as embracing new technologies – taking into account the wider demographic of people visiting and living in the city centre and the growing importance of social media channels.
“We will also take a far more strategic approach to attracting new businesses and inward investment into the Cathedral Quarter to ensure that the right businesses and appropriate developments continue to enhance the unique and diverse offer of the area.
“By further developing our partnership work with organisations such as Derby City Council, Marketing Derby and Derbyshire Police, we are confident that we can make the Cathedral Quarter an even more desirable destination of choice for visitors and businesses alike.”
Three key objectives have been developed following feedback from businesses. These are:
- The Cathedral Quarter Experience
To continue to develop the great Cathedral Quarter lifestyle experience for visitors and people working in the area to enjoy
2. Cathedral Quarter Businesses
To continue to build the local, regional and national reputation of the Cathedral Quarter as a great place for the evening and night time economy, retail, hair and beauty, leisure and culture and professional services
3. Business Growth and Investment in the Cathedral Quarter
The full Cathedral Quarter 2018-23 Business plan can be read on line on the Cathedral Quarter website.