Over £4bn worth of investment will create 3m ft² of new office, commercial and residential space in Victoria in the next decade.
The scale and calibre of this development is unprecedented in the history of Victoria and central London. The 110-acre footprint of the Victoria BID has been at the heart of this transformation with cutting-edge innovative projects.
We published The Victoria Vibrancy Report 2014 establishing a baseline from which to track the area’s transformation. For example, the £700m upgrade of Victoria Underground, due for completion in 2018 will increase capacity by up to 50%. In 2017 we revisited the Vibrancy Report and found that Victoria now “accommodates 43,000 jobs, contributing £3.1bn in gross value added (GVA) per year, delivering tax revenues to central government in the region of £1bn, of which c. £105m is in business rates.”
Key to these improvements is creating a public realm that allows everyone to move seamlessly about the area. Improving the public realm is at the forefront of what Victoria BID businesses say they want for the future. In the Perception Survey (July 2014), 73% of levy paying respondents told the Victoria BID that they want more green spaces to enjoy, walk in and sit in. The Victoria BID published a Public Realm Vision for Victoria based on commissioned independent public realm research by specialist public realm consultants Publica.
We also monitor wider urban regeneration issues for Victoria to maximise opportunities for investment and economic growth by ensuring Victoria remains open for business throughout redevelopment.Top