Campaign to exploit Crossrail at Farringdon Station launches today
PUBLISHED: 15:58 18 February 2016 | UPDATED: 12:18 19 February 2016
© Paul Marriott Photography
Business leaders in Farringdon and Clerkenwell are planning to take advantage of increased footfall once Crossrail is completed.
Crossrail will see Farringdon Station upgraded by 2019, with a planned 140 trains to pass through every hour. A minimum 27 million passengers a day are expected to pass through in 10 years’ time. The footfall two years ago was 19m.
Today, a new business improvement district (BID) has been proposed for the area. Its 100-plus businesses will vote on whether they want it to launch and shape the future.
The south Islington area is a well-known centre for global designers and architects, from Zaha Hadid to Bulthaup, but has also become a hotspot for fine dining and boutique hotels.
And Tass Mavrogordato, who is leading the BID project, said today: “Farringdon and Clerkenwell has long been London’s design district, and the new BID will celebrate and preserve this innate character.
“In the advent of Crossrail, the BID will also enable businesses here to shape and direct growth so the area plays a full role alongside neighbours such as Tech City, Midtown, the Square Mile, the Barbican and the emerging new Cultural Quarter at Smithfield.”
From today, all of these businesses have the opportunity to vote ‘yes’ for the BID, which would be a collective business voice working towards brand association, customer satisfaction and building a competitive advantage for firms. If a majority back the first four years of the scheme, work will begin in May.
It has been backed by Islington Council. Cllr Asima Shaikh, its economic development leader, said: “I welcome the BID for Farringdon and Clerkenwell. The council is fully supportive of BIDs because they enable businesses to work together for the local economy and bring significant benefits to the local community, including new employment and training.”