Shape
HOLBA will shape a resilient, sustainable & investable district that values the role culture & commerce play in its success.
Achievements
Much was achieved and progress made over the last five years, including:
Published the West End’s first Evening and Night-time Strategy aimed at maximising the area’s 24-hour economy
Developed an investment case for a new Arts Quarter behind Leicester Square
Coordinated partners to look at the future of Piccadilly Circus as a place of spectacle
Reduced carbon emissions by up to 22% from participating buildings via the Business Climate Challenge
Delivered alfresco dining on key streets during the pandemic, saving many businesses from collapse
Produced an investment case which helped to secure a £1.57B support package for the arts and culture sector during the pandemic
SWOT summary
The summary SWOT analysis highlights that Leicester Square & Piccadilly Circus District is an exceptionally rich cultural, architectural, historic and culinary place in which to spend time and do business. However, it faces several challenges and threats. To read the full SWOT analysis, visit the main menu HOLBA area SWOT section.
- The Leicester Square & Piccadilly Circus District’s iconic vistas, landmarks, rich and varied fabric, layers of history and architecture all contribute to attracting 46M visitors a year. It is a globally famed arts and cultural experience with unparalleled nearby West End theatres and cinemas enhancing its renowned evening and night-time experience.
- The West End is only 30 minutes from Heathrow, with the Elizabeth line making the district even more accessible. The area’s nearest Underground stations, Leicester Square & Piccadilly Circus and their four Tube lines respectively bring in 31M and 28M people.
- The current offer and occupier mix is not keeping pace with the latest trends, which indicate consumers’ preference is for culture and experience.
- The district has many agents and public bodies responsible for its management and maintenance. The consequence of this is frequent duplication or gaps in services and resources, as well as conflicting priorities and timescales. The tangible impact is visible across the streets.
- Activating side streets with new cultural and experience offers could attract and retain the pre- and post-theatre audiences.
- Designating the West End as a special policy area would allow venues to stay open later and a more diverse range of venues to flourish, thereby extending the appeal of the West End to new customers.
- Regent Street St James’s and Haymarket can be transformed into safer, sustainable and more attractive places to walk, cycle or dwell, which would attract additional footfall, create new jobs and increase the district’s Gross Value Added.
- Expanding retrofit services would build on the success of the Business Climate Challenge programme.
- The district faces significant threats, including climate change, changing consumer tastes, the growth of competitor destinations (for investment and tourism) and competition to secure investment in public spaces.
- The evening and night-time economy is at risk due to the rise of rival evening and night-time destinations, loss of club venues, lack of live music venues and restrictive policies for the West End, which all constrain the West End economy’s potential and enjoyment for workers and visitors.
- Over 70% of the district’s commercial buildings need to improve their energy efficiency or risk becoming unlettable by 2027 when minimum energy standards are tightened. This figure increases to 90% of all the district’s commercial buildings in 2030 when minimum energy standards are further tightened. The impact of these changes could be damaging if left unaddressed.
Delivery plan
Over the next five years HOLBA will focus on:
- Transforming the public realm
- Sustainability & net zero
- Evening & nighttime economy
- Economic development
Transforming the public realm
HOLBA will create public spaces and routes that reflect the district’s historic character, enhance the quality of its proposition and epitomise its world-class status.
The placeshaping programme of 44 projects will deliver growth of 14% in employment and Gross Value Added by 122% by 2040. Without these projects, growth would be restricted to 5% employment and 104% Gross Value Added.
The Placeshaping Strategy sets out to:
- Provide high-quality public spaces
- Enhance gateways
- Improve side streets
- Reduce traffic
- Create opportunities for spectacle
- Promote uses which can animate upper levels of buildings
- Strengthen night-time experiences through varied and complementary uses
There are four public realm projects that will be prioritised over the next five years:
Piccadilly Circus
Working with the council, TfL and The Crown Estate, HOLBA will develop options to reduce traffic through Piccadilly Circus and improve the pedestrian experience at this iconic West End destination. We will work with property owners to develop the place and curation strategy to enhance Piccadilly Circus’s appeal to workers, investors and visitors, and enhance its commercial viability.
Haymarket
Working with the council and The Crown Estate, HOLBA will progress options to transform the pedestrian experience along this key boulevard, encouraging more footfall into St James’s Market and the emerging Arts Quarter, thereby creating market opportunities for inward investors.
Arts Quarter
HOLBA will work with cultural institutions, property owners, investors and the council to reimagine under-used commercial and public space to create a new and exciting arts-focused destination on an intimate network of streets in the heart of the West End.
Charing Cross Road
HOLBA will champion, with the council and TfL, much-needed public space, pedestrian and cycling improvements to Charing Cross Road, transforming a tired thoroughfare into an elegant destination for visitors to the district.
Discover more about the Placeshaping Strategy and programme
Sustainability & net zero
HOLBA will proactively respond to climate change and wider environmental challenges, working with partners including Westminster City Council, the Mayor of London and other Business Improvement Districts to deliver a Net Zero Carbon City.
Over the next five years HOLBA will:
- Deliver a Net Zero toolkit and support including energy audits, discounted recycling services and circular economy solutions to support members become more sustainable organisations.
- Expand retrofit services through HOLBA one-stop shop, which includes free energy assessments and energy efficiency grants to members.
- Engage Leicester Square & Piccadilly Circus BID members in the HOLBA’s Sustainability Member Engagement Group, which is a source of support, advice, collaboration and funding opportunities for organisations.
- Promote circular economy principles and inclusivity, such as the donation of digital devices to the London Device Bank.
- Seek new tree and other planting scheme opportunities across the district; create rain gardens to make the area more climate-resilient; and support biodiversity as part of our public realm schemes.
- Promote the waste and recycling preferred supplier scheme, with discounted prices for members and free education programmes, saving members money.
Discover more detail about the Net Zero Strategy.
Evening & night-time economy
The West End offers memorable and unparalleled evening and night-time experiences. However, the sector has stagnated, and its future is at threat.
HOLBA's Evening and Night-time Strategy and Action Plan, published in 2023, was the first-of-its-kind for the West End. It provides an ambitious, comprehensive and deliverable plan for the West End between the hours of 6pm and 6am. It sets out how the area can meet its full potential and become more safe, accessible and attractive for everyone.
Over the next five years HOLBA will:
- Encourage a positive planning policy framework to protect and enhance evening and night-time venues and businesses.
- Make the case for better public transport provision to ensure that the evening and night-time economy can access both the workforce and visitors it needs to succeed.
- Seek to diversify and expand the West End’s offer to make it more inclusive while attracting new audiences.
Discover more detail about the Evening & night-time economy.
Economic development
The Leicester Square & Piccadilly Circus District will continue to face stiff international and regional competition from other destinations to attract visitors, occupiers and inward investment. Future trends analysis will be harnessed to deliver a coordinated programme to promote Leicester Square & Piccadilly Circus District as an attractive place to invest in property, a desirable location for office-based businesses and to provide cultural and educational experiences.
Over the next five years HOLBA will:
- Actively seek and promote increased inward investment into the district, stimulating economic activity and safeguarding the area's future.
- Develop and promote a compelling narrative for the Leicester Square & Piccadilly Circus District as a place to invest and do business, utilising commissioned economic reports.
- Amplify awareness of the success and future opportunities within the Leicester Square & Piccadilly Circus District.
- Engage with utility companies to ensure reliable and ultra-fast broadband for the district.
Heart of London is an exemplary Business Improvement District. Its approach to leadership of the West End convenes businesses and key stakeholders to reimagine and transform its key places, ensuring the West End remains a highly attractive destination.
Tim Allibone - Head of Asset Management - St James's
The Crown Estate