Drake’s Island could become part of city BID

PLYMOUTH businesses are to vote on a new £13 million Waterfront BID (Business Improvement District) which could see Drake’s Island included in the zone but also remove voting rights and bills for 400 businesses.

Proposals being worked on for the new Plymouth Waterfront Partnership (PWP) BID include “two small tweaks” that would see the BID area extended around Drake’s Island, but with a small part of Union Street, near the junction with Western Approach, removed.

The new Millbay “boulevard” remains in the zone, but the only part of Union Street inside it is a small section around Princess Yachts’ Newport Street base.

The proposed zone stretches from the Royal William Yard to Mount Batten, and encompasses Stonehouse peninsula, Millbay, the Hoe, the Barbican, Sutton Harbour, Coxside,

and butts up against the City Centre BID4 area.

Drake’s Island was bought by Plymouth businessman Morgan Phillips’ Plymouth Sound Properties Ltd company in 2019 and a year later he revealed a triple-staged plan to create a hotel and spa on the island, as well as a heritage centre and educational facility.

Meanwhile, PWP, which runs the BID, said in a consultation document that “it has become apparent that tweaks needed to be made to the rules which govern the BID”.

PWP has proposed introducing a basic level membership for small businesses with a rateable value of £7,000 or less, which will be exempt from paying the BID levy but would lose voting rights in the ballot.

The consultation document said this would shift about 400 current levy-paying businesses, almost half the entire number in the zone, into the new category, terming them “basic” members.

However, it stressed they would still receive a “very basic level of service” as they will still operate from within the BID area.

There is also a proposal to remove the inflationary rate increase each year, but the levy will still be calculated at 1.7% of a business’ rateable value on the ballot date.

Owners of empty properties still would have to pay the levy, too, as would charities and not-for-profit organisations

Consultations have been taking place with waterfront businesses, and a business plan will be drawn up for the renewal of PWP BID for another five years.

A ballot will be held in November this year, and if successful, Waterfront

BID3 will start in April, 2022, and run until 2027.

Waterfront BID3 sets out an “ambitious vision” for the area with a plan for driving growth and supporting the development of the waterfront, continuing to focus on business priorities of increasing visitor numbers, customer spend and commercial success.

Plymouth City Council has confirmed its support for the draft business plan for Waterfront BID3 at a Cabinet meeting, and has committed financial support.

Cllr Pete Smith, deputy leader of Plymouth City Council, said: “We’re proud to have worked closely with PWP since 2010. The new business plan could play a very important role in helping us to deliver our strategic visitor objectives set out in the Plymouth Visitor Plan for 2020-2030. The waterfront is the jewel in Plymouth’s crown.”