Residents and traders have been urged to “back the Bid” to boost trading in Streatham.
Plans for a business improvement district (Bid) would raise £2.5m for Streatham town centre through a business levy over a five-year period, the council said.
It also hopes it will attract 20 per cent more people to the town centre and encourage a 20 per cent drop in commercial crimes. The move is the latest effort to reinvigorate the town centre and comes the week we launch our campaign to Support Streatham High Road.
Streatham has faced tough times in recent years but plans have drawn up a whole host of developments in an attempt to boost trade.
Officers in Lambeth hopes the Streatham Hub, due for completion in late 2013, will attract thousands of extra visitors to the town with its new Tesco store, ice skating rink and leisure centre.
On top of this, there will be a further investment of £6m in Streatham and West Norwood high streets after a successful bid to the Mayor’s Outer London Fund.
Separate plans for the Caesars and Megabowl site in Streatham Hill are still yet to be confirmed, but there are rumours a big retailer, possibly Marks and Spencer, is keen to take over the lease.
Councillor Jackie Meldrum, the council’s business and employment cabinet member, said the prospect of a Bid in Streatham was “exciting”.
He said: “It’s already been incredibly successful in Waterloo and in Vauxhall, the new Bid has just been established and is planning a range of projects including a new street warden service and increased CCTV and street lighting.
“It would be great if we could repeat that success in Streatham.”
Speaking about our campaign, Streatham town centre manager Angelina Purcell said there was a need to “tap into the residents’ commitment for the area” and promote the idea that “we are all in this together”.
She said: “There is no point in people saying there is nothing on the high street if they do not go down there. Try to make your purchases as local as you can. Two or three purchases a week are the difference between someone going out of business.”
A number of high street businesses pledged their support for our campaign, with I Love Coffee offering to host a meeting for those wanting to get involved.
The White Lion pub has suggested a one-day fun-themed scavenger hunt for families to explore what the High Road has to offer.
Another idea could be a special 10 per cent discount day for businesses hoping to attract bargain hunters.