Key Summary
- A dozen high streets across London will each receive £50,000 from City Hall to help boost local economies
- New funding part of Sadiq’s manifesto commitment to protect, restore and improve London’s high streets
- Investment will support London Growth Plan ambitions to turbocharge productivity and add more than £100bn to capital’s economy
The Mayor of London, Sadiq Khan, has today (July 11) announced a new £600,000 investment to revitalise 12 local high streets as part of his work to drive inclusive economic growth across the capital.
Twelve London boroughs will receive £50,000 from the Mayor’s High Street Place Labs (HSPL) programme over the next year to help them attract investment, improve public spaces and boost the local economy.
The HSPL programme will drive progress on the bold economic ambitions outlined in the London Growth Plan, which the Mayor published with London Councils earlier this year. Supporting local high streets is a key action in the plan to ultimately turbocharge productivity across the capital and add more than £100bn to London’s economy.
High streets play a huge role in the everyday lives of people across the capital, with 90 per cent of Londoners living within 10 minutes of a high street. However, London’s high streets have faced significant challenges in recent years including the cost-of-living crisis, recovery from the pandemic, a long-term shift in working practices, changes to shopping habits and the climate crisis.
This new investment will support councils to develop plans to transform high streets to thrive and remain vital community hubs, including:
- Creating more affordable workspaces where they are most needed, and for key sectors, such as the creative and green industries.
- Bringing empty shops and buildings back into use for local businesses and community organisations, to breathe new life into high streets.
- Designing and maintaining high quality, accessible and inclusive high streets that are safe, child-friendly and consider the mobility needs of a range of people. This includes increasing step free access.
- Growing evening and night-time economy to ensure high streets are open and accessible to the community for longer periods.
Boroughs are planning a range of projects to rejuvenate local areas.
Newham proposed making East Ham High Street more attractive and walkable, creating opportunities for young people and delivering green improvements that will help mitigate flooding and overheating in the area.
Islington aims to boost its nighttime economy by creating a more inclusive offer and improving access to pubs, nightclubs, restaurants, theatres and music venues.
Barking and Dagenham want to bring residents and businesses together to create a safer and more attractive public realm, building on a recent project celebrating the town centre’s cultural and heritage assets.
The Mayor of London, Sadiq Khan, said: “I‘m determined to protect, restore and improve London’s high streets – which is why I’m so pleased to provide this new funding for boroughs across the capital that will help them grow and thrive.
“My High Street Place Labs programme plays an important role in driving progress on the London Growth Plan, which will deliver economic growth in every corner of our city to raise living standards, put more money in people's pockets and enable us to invest in our public services.
“I look forward to working with boroughs to deliver these important improvements for communities across the capital as we continue to build a fairer and more prosperous London for all.”