Farringdon set to undergo significant changes to Crossrail
Businesses in Farringdon and Clerkenwell will have the chance to vote on a new proposal that can significantly change the future of the area. Farringdon may soon become home to one of the most significant stations in the capital.
A new Business Improvement District (BID) proposed for the area will mean that businesses need to pay higher business rates for improved services, such as better transport links and more policing. The station is already seeing changes but if full renovations are agreed on, Farringdon station will see around 27 million people walking through its gates upon completion.
Many businesses seem optimistic about the changes. Eleanor Tattersfield is the owner of Marby and Elm. She says that the changes sound like a good idea: “I like the idea of all the local businesses getting together and seeing how we could utilise what will probably be an increase in the amount of people coming to the area.”
“Those people are going to want to have a nice high streets of shops and more shops that they can go to locally on their doorsteps rather than going into town or online shopping. I will probably vote yes.”
However, opinions have been voiced from smaller businesses who are worried that these changes will result in higher rent and larger chain stores that will drive out local businesses.