delivering for you - new west end company · pdf filethe crown estate) brought over 8 ......

NW

EC 1

718

Delivering For You2017–2018

3rd FloorHeddon House149-151 Regent StreetLondon W1B 4JD

T +44 (0)20 7462 0680 E [email protected]

@newwestendnewwestend.com

Forward

The core of our work is to attract more visitors to the West End, encourage them to stay longer and return more often.

We do this by helping to make the West End the best place in the world for shoppers and by promoting our district in key markets worldwide.

In the coming months our work for long-term physical improvements in the West End will be bearing fruit. The £10 million regeneration of Bond Street will start later in 2017. We are working closely with the Mayor to achieve a dramatic reduction in traffic on Oxford Street and Regent Street, which is planned for 2018.

New West End Company is here to help West End retailers, hotels and property businesses to grow and prosper.

We are a key part of the West End Partnership which is seeking match funding from the Government for a multi-million pound package of public realm and environmental improvements throughout the West End.

All of this will ensure that the West End is ready for Crossrail when it opens in 2018, bringing an estimated 60 million extra visits to the West End every year.

We promote the West End by organising key events, such as the Christmas Lights, and by creating positive media coverage in national and international media. In 2016, we generated over 500 media pieces with a global reach of more than 30 million.

We encourage people to stay longer by enhancing the look and feel of the district so that it is cleaner, safer and more welcoming.

And we provide a strong and clear voice for West End businesses, representing your views at all levels of government and campaigning for policy changes that will benefit West End businesses.

We coordinated the London-wide response to the business rate rise, winning concessions that will save West End businesses £10 million over the next three years compared to the Government’s original proposal. We are continuing to campaign for a full review of business rates to ensure that London businesses are not hit hard again at the next revaluation.

The UK China Visa Alliance, established by New West End Company, has worked with the Government to bring about practical reforms which have seen large growth in Chinese visitor numbers.

The following pages outline some of our activities the past year. With your continued support we can ensure that the West End remains the world’s top shopping and leisure district.

JACE TYRRELL Chief Executive

03 DELIVERING FOR YOU

2016/17

£10million business rates bill reduction compared to original proposals

TWO YEAR CHINESE VISAS IN PLACE

£10m FUNDING SECURED FOR BOND STREET

Recruit West End placed over 111 young people in jobs

THE OXFORD STREET WEBSITE RECEIVES AVERAGE OF 1.6M VISITS PER YEAR

PEDICAB INCIDENTS, BEGGING AND ROUGH SLEEPING

11 traffic-free events on Oxford and Regent Street brought over 8 million additional visitors

10.8 FOOTBALL PITCHES WORTH OF PAVEMENT DEEP CLEANED BY THE CLEAN TEAM

FROM LAST YEAR

REDUCTION IN WASTE VEHICLE MOVEMENTS ON BOND STREET

48 NEW STORE O P E N I N G S ACROSS BOND STREET, OXFORD STREET AND REGENT STREET

SECURITY TEAMS ASSISTED RETAILERS WITH 242 INCIDENTS OF SHOPLIFTING

FIRST BUSINESS-LED AIR QUALITY STRATEGY

LAUNCHED

Generated over 500 media pieces with a global reach of over 30 million and value of £25 million

HALF A MILLION VISITORS

WELCOMED BY THE

WELCOME AMBASSADORS

‘BY APPOINTMENT’ TOURISM PROGRAMME

GENERATED OVER £1 MILLION IN DIRECT SALES TO MEMBERS

95%

DOWN -60% COMPARED TO LAST YEAR

CRIME DOWN

-2%

A year of results

04 05DELIVERING FOR YOU DELIVERING FOR YOU

We provide a number of operational services to our members, including cleaning, safety and recruitment.

Half a million visitors were welcomed by the Welcome Ambassadors in the West End in 2016.

The Clean Team deep cleaned over 10.8 football pitches worth of pavement.

Crime across the West End was down -2% compared to 2015.

New dedicated anti-social behaviour operations will be funded and delivered in 2017.

Our strategic marketing plan includes district-wide campaigns, consumer events and promotions to drive footfall, increase dwell time and hotel visits.

Our 11 traffic-free events on Oxford Street and Regent Street (delivered with our partners the Regent Street Association and The Crown Estate) brought over 8 million additional visitors to the West End in 2016, a +5.3% increase from last year’s events.

Next year we’re bringing more world-class events including City Racing, a televised horse racing event down Oxford Street, our usual Christmas Lights Switch on activity, as well as the launch of Bird Street, a state-of-the-art smart street with innovative pop-ups and pavements that generate electricity through footsteps.

We have engaged with the Mayor of London and his administration on tackling London’s air quality and we’ve been at the forefront of shaping solutions with businesses to reduce traffic congestion.

In June, we launched our Air Quality Strategy, the UK’s first business-led scheme to improve the West End’s air quality. As a result, we’ve already reduced waste collection vehicles by 75% in Bond Street with plans to roll out more widely across our district in 2017.

In 2017, we’re launching the district-wide preferred supplier scheme westendbuyersclub.com, where members access preferential rates for services.

In 2016, we welcomed more high value visitors to London’s West End than ever before and strengthened our tourism links with China, US and the Middle East. ‘By Appointment’, our bespoke service providing curated experiences across London Luxury Quarter, brought in over £1 million direct spend into member businesses.

In 2017, our Destination West End programme aims to position London’s West End as the retail, gourmet and cultural heartland of the capital through a series of campaigns and world-class events.

Marketing & Events

Street Services

Tourism

Sustainability & Air Quality


New West End Company campaigned on issues to benefit the trading environment in the West End, from removing barriers to entry for international visitors to lobbying government for mitigating measures against business rates rises.

The two year Chinese visa was introduced this year through our work with the UK China Visa Alliance, raising London’s visa requirements to match the global competition.

In 2017, we will continue to lobby to Chinese visitor visa improvements. We will campaign for a review of the business rate system so that the West End is not hit so hard in the future. We will also enhance our activities with Westminster City Council and our local communities to put West End business as the heart of the delivery of the transport, public realm and enforcement improvements needed to be ready for Crossrail.

The £10m Bond Street public realm scheme is underway and is set complete in time for the opening of Crossrail in 2018. Working in partnership with Westminster City Council, Mayor’s Office, Transport for London and The West End Partnership, the scheme will rejuvenate Bond Street’s public realm to create a world-class environment.

We are backing Transport for London’s proposals to reduce buses by at least 40% on Oxford Street and Regent Street. This will complement the Oxford Street District Vision, our plans to revitalise the public realm and increase dwell time amongst our visitors.

London’s vibrant West End is an important contributor to the city’s economy, supporting jobs and attracting

visitors from across the world. Over the last ten years, New West End Company has done a first-class job of

supporting this area’s interests. In line with my pledge to be the most business-friendly Mayor of London ever,

I will do all I can to ensure the West End thrives. Sadiq Khan

Mayor of London Bond Street 2019. ©Publica

Chief Executive Jace Tyrrell with Mayor of London Sadiq Khan


Advocacy Public Realm

Our inward investment promotions have taken West End opportunities to key retail and real estate forums including including MAPIC, ICSC Dealmakers and MIPIM Asia, with over £1 million in West End media coverage generated in leading industry publications.

Our occupier and property owner Business Improvement District (BID) brings together retailers, hoteliers and owners in a leading business partnership to attract customers to our area, provide a better quality trading environment, promote inward investment and advocate for policy changes to deliver growth and a commercial return for you, our members.

Our Occupier BID delivers street management, customer services and marketing campaigns to support our retail and hotel members. Our Property BID delivers strategic leadership, lobbying, insights and development of public realm schemes to support our district’s future commercial success.

With the combined partnership of 600 businesses working together on a shared vision for our district we can deliver a truly world-class West End.


Promoting Inward Investment Occupier & Property BID

Income 2016/17 (Forecast) £K £K £K

Expenditure 2016/17 (Forecast) £K £K £K

BID levy Other TotalStreet Management & Shopper Services Welcome Ambassadors 462 33 495Clean Team 361 80 441Crime Intelligence & Policing 135 12 147Secirity Team / Enforcement 145 58 203Member Engagement & App 62 0 62Marketing & External Affairs Traffic-Free Promotions 200 0 200Communications 100 0 100Street Events & Campaigns 846 0 846West End & Tourism Marketing 60 20 80Luxury London Quater 100 115 215Bond & Regent St PR and Marketing 217 0 217Research & Insight 34 47 181Partnership Marketing 0 106 106Sponsorship 88 0 88Digital, Collateral & Other 120 30 150Christmas Lights (Sponsored) Gateways 624 13 637Strategy & Development Bond Street Public Realm 213 0 213Commercial Waste Reduction 0 50 50Other 0 0 0Office, Staffing and BID Running Staff 180 26 206Office 112 111 223BID Levy Collection 29 0 29Contingency 1.5% of Levy 38 0 38BID Renewal 0 0 0Statutory Requirements 0 0 0Tax, Depreciation and Bad Debts 0 15 15Total Expenditure 4,226 714 4,940Surplus/Deficit -363 491 128Brought forward from 15/16 7 -129 -122Net position Mar 16 355 362 7

BID levy Other TotalBID Levy 3,863 0 3,863Property Sector Voluntary 0 105 105Sponsorship Income 0 465 465Commercial/Other 0 585 585Commercial Vehicle Reduction 0 50 50Interest 0 0 0Total Income 3,863 1,205 5,068

NOTES:

The levy of income represents 100% of the collection rate.

BID Levy Income based on Feb 17.

Total income higher than budget, due to sponsorship income for Christmas Lights.

NOTES:

Sponsorship income nets off against sponsorship cost shown in Street Event & Campaigns.

Traffic Free Promotion is included within Street Event & Campaigns Budget Draft 2017/18.

2016/17

Street Management & Services 27%

Marketing & External Affairs 41%

Research & Insight 4%

Christmas Lights 13%

Strategy & Development 5%

Management/Office 9%

Levy Collection, Statutory, Contingency 2%

Income 2017/18 (Draft Budget) £K £K £K

Expenditure 2017/18 (Draft Budget) £K £K £K

BID levy Other TotalStreet Management & Services Welcome Ambassadors 450 33 482Clean Team 403 80 483Crime Intelligence & Policing 117 7 124Security Team / Enforcement 199 58 257Member Engagement & App 55 0 55Marketing & External Affairs Traffic Free Promotion 0 0 0Communications 0 0 0Street Events & Campaigns 1,064 0 1,064West End & Tourism Marketing 65 21 85London Luxury Quarter 110 127 237Bond & Regent St PR and Marketing 187 0 187Research & Insight 135 46 181Partnership Marketing 0 106 106Sponsorship Retainer 88 0 88Digital, Collateral & Other 30 130 160Christmas Lights (Sponsored) Gateways 624 13 637Strategy & Development Bond Street Public Realm 200 0 200Commercial Waste Reduction 0 50 50Other 0 0 0Office, Staffing and BID RunningStaff 180 26 206Office 114 111 225BID Levy Collection 29 0 29Contingency 1.5% of Levy 43 7 50BID Renewal 86 14 100Statutory Requirements 0 0 0Tax, Depreciation and Bad Debts 0 45 45Total Expenditure 4,306 872 5,050Surplus/Deficit -218 231 12Brought forward from 16/17 -355 362 7Net position Mar 17 -574 592 19

BID levy Other TotalBID Levy 3,960 0 3,960Property Sector Voluntary 0 105 105Sponsorship Income 0 415 415Commercial/Other 0 532 532Commercial Vehicle Reduction 0 50 50Interest 0 0 0Total Income 3,960 1,102 5,062

2017/18

Street Management & Services 28%

Marketing & External Affairs 38%

Research & Insight 4%

Christmas Lights 13%

Strategy & Development 5%

Management/Office 9%

Levy Collection, Statutory, Contingency 4%

OCCUPIER FINANCIALS OCCUPIER FINANCIALS


Financial Management 2016/17 (Forecast) Financial Management 2017/18 (Draft Budget)

Income 2016/17 (Forecast) £K

Expenditure 2016/17 (Forecast) £K

Sustainable Placemaking

Bond Street Development 560

Oxford Street Vision 415

Sustainability, Community & Local Employment 390

Total Spend 1,365

Business Voice & Global Profile

West End Marketing 207

Inward Investment 570

Advocacy & Influence 208

Communications and Engagement 275

Total Spend 1,259

Contingency 309

Management & Overheads 318

BID Levy Costs 18

Tax & Depreciation 7

Total Expenditure 3,276

Surplus/Deficit 0

Sustainable Placemaking

Bond Street Development 560

Oxford Street Vision 445

Sustainability, Community & Local Employment 232

Total Spend 1,282

Business Voice & Global Profile

West End Marketing 200

Inward Investment & Global Profile 205

Advocacy & Influence 562

Communications and Engagement 286

Total Spend 1,253

Contingency 296

Management & Overheads 328

BID Levy Costs 18

Tax & Depreciation 27

Total Expenditure 3,266

Surplus/Deficit 81

BID Levy 3,276 BID Levy 3,285

2016/17

Sustainable Placemaking 42%

Business Voice & Global Profile 38%

Contingency 9%

Management & Overheads 10%

BID levy, Tax & Depreciation 1%

Income 2017/18 (Draft Budget) £K

Expenditure 2017/18 (Draft Budget) £K2017/18

Sustainable Placemaking 40%

Business Voice & Global Profile 39%

Contingency 9%

Management & Overheads 10.5%

BID levy, Tax & Depreciation 1.5%

PROPERTY OWNER FINANCIALS PROPERTY OWNER FINANCIALS


Financial Management 2016/17 (Forecast) Financial Management 2017/18 (Draft Budget)

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