- 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 (Friday 11 July) 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. [1]
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. [2]
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.”
Newham Mayor Rokhsana Fiaz OBE said: “Our High Streets are the lifeblood of our communities, and this support from the Mayor of London will enable us to develop ambitious plans to reimagine East Ham High Street as a more vibrant, accessible, and welcoming destination.
"We’re focused on creating places that work better for local residents - economically, socially, and environmentally.
"In the face of growing climate pressures, our approach to climate-resilient, people-centred High Streets offers practical solutions for communities across London. It’s about inclusive growth, creating local opportunities, and ensuring everyone benefits from a just transition to a greener, fairer future.”
Deputy Leader and Executive Member for Inclusive Economy, Culture & Jobs for Islington Council, Cllr Santiago Bell-Bradford, said: “We’re proud that Finsbury Park has been selected as one of the Mayor of London’s High Street Place Labs. This funding will help us take forward our ambition to create a high street that is more inclusive, accessible and thriving — a place where everyone feels welcome and where local businesses can flourish.
"Finsbury Park is one of Islington’s most diverse communities, home to a vibrant mix of cultures and many small and independent businesses. This investment supports our wider ambition to build a more equal Islington, and ensuring our high streets reflect the needs and aspirations of the communities they serve is an important part of that goal.”
Development Director at Be First, Andrew Savege, said: “Be First welcomes the Mayor of London’s recognition of Barking Town Centre’s huge potential and has awarded the borough £50,000 from The High Streets Place Lab fund.
This direct support for Barking Town centre from the Mayor as part of the UK Shared Prosperity Fund, will help our diverse businesses to thrive, by providing safe and vibrant places for our community.
It also allows Be First to drive forward with new investment, commercial opportunities, and local partnerships, delivering plans to transform the Town Centre and securing it as the gateway to South Barking.”
Cabinet Member for Regeneration and Economic Development at the London Borough of Barking and Dagenham, Cllr Cameron Geddes, said: “I’d like to thank the Mayor of London for recognising our bid and investing into Barking Town Centre.
“This money will go towards working with partners and developing proposals for much needed improvements to the Town Centre, making it more enjoyable for all of our residents and supporting our many local businesses.”
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