Property News - New West End Co still on track for BID status

The New West End Company - the management body responsible for Oxford Street, Regent Street and Bond Street in London's West End - is still on target to achieve formal status as a Business Improvement District (BID) in spring 2005, chief executive Helen Robinson told a BCSC lunch.

Architect HOK, property consultant adviser Jones Lang LaSalle and engineer Arup are now four months into a 15-month plan that will culminate in a new masterplan for the West End, she said.

Robinson added that she will continue to lobby for a levy on landlords to be included in the finance package for BIDs. At present, 70 per cent of the New West End Company's annual budget of£1.6 million comes from property owners including The Crown Estate, Grosvenor and Prudential.