BID Leamington is the company responsible for running the Business Improvement District (BID) in Royal Leamington Spa. They are currently in the fourth term of the BID, which will run for a five-year period until June 2028.
In March 2023, businesses were asked to vote on the continuation of BID Leamington for a further five years in a renewal ballot administered by Warwick District Council. The proposal to renew BID Leamington until 2028 was supported with 90% of businesses voting in favour by number, and 94% by rateable value, with a 59% turnout.
The BID allows an additional levy to be charged to businesses in a defined geographical area of the Town Centre. The BID levy is payable annually by retail and leisure businesses within the BID area that have a rateable value of £15,000 p.a. or above.
The levy is not payable by residential premises. The amount payable reflects the April 2023 rating list and is 1.9% of the rateable value of the property. It may be subject to an annual increase to reflect inflation if agreed by the Board of Directors. The invoice, issued in July, is payable by the lease-holder, however if the property is vacant then the property owner is liable. Once established by legal ballot, liable businesses cannot opt out or be excluded from payment of the BID levy, during the five-year term of the BID.
We support BID Leamington in a number of ways, including:
- Collection and enforcement of the BID levy from liable businesses (as required by the BID Regulations 2004)
- Paying the BID levy on its own liable properties
- Jointly contributing to the Christmas lights
- Partnership work on local initiatives such as managing crime, antisocial behaviour and meaningful change.
We have elected member representation on the BID Leamington Board of Directors.
The BID proposal, Business Plan 2023 - 2028, including levy rules can be viewed on the BID Leamington website.
BIDs are governed by legislation contained in the Local Government Act 2003 and the Business Improvement Districts (England) Regulations 2004.
For further information, including details of what BID Leamington delivers, please visit the BID Leamington website or phone 01926 470634.