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London’s Jewelry District to get $3M Makeover

Hatton Garden business owners approved a $3.3 million (GBP 2.5 million) investment to carry out improvements in London’s famed jewelry district.

A Business Improvement District (BID) will be set up in October to carry out the upgrade over the next four-and-a-half years. The development will focus on four themes: to provide better business connections and representation for the business community; promote the area; improve the public facilities; and enhance the environment.

Networking opportunities, mentoring and training programs, and projects will be set up to support businesses, protect the jewelry sector and position the area as a creative hub, according to members of the provisional BID board.

The project will be funded by a 1 percent levy on business rates and voluntary contributions from property owners.

Source: Rapaport