“The Bristol Chamber of Commerce has been a great champion for the Broadmead retailers. We have examined the evolving BID strategies and reviewed progress at every stage of implementation. The Broadmead BIDs have made a very significant difference to Broadmead. The BID team has maximised the return on every pound invested by retailers.”
John Savage Executive Chairman, Bristol Chamber of Commerce
It’s a striking thought that just a few years ago Bristol’s central shopping area appeared to be in terminal decline.
This flourishing area has since been transformed by the £600 million Cabot Circus development, which has delighted shoppers with iconic retail brands, stylish restaurants and a brilliant leisure heart.
The Broadmead BIDs then transformed the appearance and performance of the existing 350 shops in the Broadmead retail area. The BID unlocked a significant partnership contribution from the property owners and Bristol City Council. The BID levy raised approximately £1 million from retailers. This leveraged £10 million through voluntary contributions.
This provided the resources to transform the appearance of Broadmead, replacing paving, lighting, street furniture and signage. Rather than being overshadowed by Cabot Circus, the resulting £11 million investment ensured that Broadmead retailers benefited fully from the opportunity.
With the environmental improvements completed in 2008 a second BID was designed to generate funds needed to run a major advertising, marketing and promotions campaign for Broadmead. On top of this it has provided much-needed resources to improve standards of cleanliness to match the Cabot Circus experience.
Broadmead is today a confident player that is able to hold its own in one of the UK’s most exciting retail centres. Without the BIDs this would not be possible.
“As a Broadmead anchor retailer, M&S is very supportive of the BID process and its impact. The BID is driven by retailers for retailers, and has greatly improved the look and feel of the shopping area.”
Rob Bailey, Marks & Spencer