Now entering into a third term, 92% of businesses voted in favour of the BID by number, with 89% in favour by rateable value, representing a 46% turnout in total.

Savills Place supported the Board and operational team as part of a long-standing management contract.

Nottingham BID Manager, Lucy Stanford, said 'We are absolutely delighted to have secured a new five year term to carry on our work on behalf of businesses in Nottingham city centre. Savills Place played an instrumental part in helping us through this tough landscape and we’d like to thank the team for guiding us through the BID renewal in a year that has proven to be a challenging time for all. It is a great result, not just for us as a BID but also for the industry.'

At this year's British BIDs virtual conference on 5th November, Lucy will address more than 150 delegates, sharing details on the BID's journey to success.

Director of Savills Place, Fiona Wright, said "It's been a pleasure to work with Nottingham BID over the last 10 years and be an integral part in its growth and development in the city. The operational team and Board of Directors have done an amazing job and the BID is perfectly placed to achieve its new priorities over the next five years. Some difficult decisions were addressed, such as the timing of the ballot, and we look forward to hearing more from Lucy about this at the BIDs conference."

Earlier this year, The Coronavirus Act 2020 received Royal Assent granting BIDs whose term finishes between 25th March 2020 and 31st December 2020 an automatic extension to 31st March 2021. With this in mind, and the challenging economic landscape, Nottingham pursued to hold their ballot in October 2020.

The decision was taken with a great deal of consideration, underpinned by in-depth consumer research with over 500 people in the city centre which highlighted the importance of business support to see the city through the current pandemic.

As outlined in the BID's business plan, Nottingham BID have extended their BID area to create a joined up approach with a number of regeneration projects taking place at key landmarks in the city. Creating a number of important partnerships city stakeholders, Nottingham BID will now also play a central role in a set of transformational projects, that leave a legacy far beyond the next five years.

The successful vote will see over £5 million invested into the BID area over the next five years.