BanksideInsightsPeople, perceptions and priorities

Issue 2

Peter WilliamsCEO

Welcome to the second issue of Bankside Insights. The first one published in 2016 brought together a raft of data that we have been collecting to inform our planning and service prioritisation.

Realising that what was informative for us may be useful to others too, we produced the first issue simply as a compendium of information. And so it proved, with Bankside Insights being well received and requested. We’re told that several organisations have drawn from it for their own planning purposes.

We’ve made a few tweaks, and added some more information but the format follows the previous issue. We’re always pleased to receive comments about how its usefulness could be improved, so do let us know.

With so many developments in the pipeline we intend to issue a Development Supplement in autumn 2019. During the course of the year our Visitor Survey will be undertaken and we’ll be distributing those results around the same time.*

The publication enjoys support and assistance from a number of organisations, but special mention should be made of Union Street Partners and STR Global – both Bankside based – who we thank hugely.

I hope you find it valuable.

Best wishes,

To register for further insights and updates, email info@betterbankside.co.uk

*

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ContentsBetter for business A better place to workBetter streets and spacesA great destination Map

411171923

Better for business

In August and September 2018, over 100 business owners and decision makers were interviewed over the telephone, in person, and via email, about the services provided by Better Bankside, and their perception of Bankside as a place to work.

Awareness and approvalThe majority of business leaders view services offered by Better Bankside as very good or fairly good.

4

40% 29%23%

33%

30%

33%

Very GoodFairly GoodNeitherFairly PoorVery PoorDon't Know

93% of decision makers and business owners agreed that

Bankside is a good place to work

93%

Testing perceptions

However, the results of the research highlight an opportunity to improve even further by increasing the awareness of these services.

Top priorities for Bankside businessesThis research helps us shape our programme. In 2016, 79% of businesses told us we should prioritise air quality. Since then we have invested in innovative schemes and successfully sought additional funding to carry out projects which improve local air quality.

The research conducted in 2018 shows that continued investment into a cleaner, safer, and greener Bankside are the main priorities for businesses.*

Pages 4 - 5 Firebrand Insight, August - September 2018 5

Safety in the Bankside area

Investing in public spaces and urban greening

Improving air quality in the area

91% 87% 85%

Keeping the streets and public spaces clean

92%

Delivering services for Bankside employees

Improving streets for walking and cycling

81% 80%Delivering services for Bankside businesses

80%

Promoting local volunteering opportunities

74%Promoting Bankside as a visitor destination

66%Improving the recruitment and talent pipeline

52%

Cleanliness 92%Safety 91%

Public spaces 87%

*All of the services we offer were deemed important by more than half of businesses.

A diverse business community

Using the Companies House ‘Standard Industrial Classification’ the sector profile exercise of the 700+ levy-paying businesses in the Better Bankside BID area is an insight into the makeup of Bankside’s business neighbourhood.

6 Pages 6 - 7 Information from Companies House

Professional, scientific and technical activities110 businesses

Food and accommodation activities 132 businesses

Accommodation and food service activitiesInformation and communicationProfessional, scientific and technical activities

Real estates activitiesAdministrative and support service activities Wholesale and retail trade; repair of motor vehicles and motorcycles

Financial and insurance activities Other service activitiesArts, entertainment and recreationConstruction

From left to right

48% of Bankside businesses fall into three broad sectors, which break down to:

Information and communication 116 businesses

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Human health and social work activitiesTransportation and storageEducation

Public administration and defence; compulsory social securityActivities of extraterritorial organisations and bodies

ManufacturingElectricity, gas, steam and air conditioning supply Mining and quarrying

An increase in software and tech start ups in the DAMIT sector (Design, Advertising, Marketing & PR, Media, Internet, and Technology and Telecoms) accounts for 35% of the take up in the area.

Union Street Partners

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Future Bankside

Over the coming years there will be more changes throughout the Bankside neighbourhood, from mixed use developments with hundreds of homes and new office space, to a new shopping destination featuring boutique retail and leisure facilities.

Look out for development updates on our website and newsletters.

Site area TypeLocation

13,120sqm Commercial, residential25 Lavington Street2

TBC Currently in planning160 Blackfriars Road10

4,584sqm Commercial, residential185 Park Street8

9,085sqm CommercialNew City Court 4

6,223sqm Commercial, residentialLandmark Court6

7 5,205sqmCommercial, residential, community, leisure

Land enclosed by Colombo Street, Meymott Street and Blackfriars Road

7,218sqmCommercial, residential,leisure

Land between Paris Garden, Colombo Street, Blackfriars Road and Stamford Street

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1 19,590sqmLudgate House and Sampson House, 64 Hopton Street

Commercial, residential, community, leisure, retail

3 10,739sqm Retail, leisureBorough Yards

4,428sqm Commercial, residentialStudent accommodation on Borough High Street

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Moorgate

Bank

St Paul’s

Blackfriars

Temple

Holborn

Farringdon

Barbican

ChanceryLane

CoventGarden

Embankment

Westminster

Vauxhall

Kennington

Elephant & Castle

LambethNorth

Southwark

Borough

Waterloo

Waterloo East

Cannon Street

Mansion House

Liverpool Street

Aldgate

Tower Hill

Tower Gateway

Aldgate East

LondonBridge

Blackfriars

Bankside

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Union Street Union Street

Copperfield St

Webber St

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Hoxton Hotel opens 2019

New retail development due to open 2020 to include a new cinema

Page 8 - 9 New Southwark Plan, Southwark Council 9

Pipeline developments

The Low Line seeks to utilise the arches and tunnels of the railway viaduct to connect communities and places; providing a framework around which people, culture and business can thrive. It will deliver a world class walking destination for South London.

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A business destination on the up

*Exceptional space: e.g. top floors at Cooper & Southwark and Blue FinSource: Union Street Partners unionstreetpartners.co.uk/research

Capital Value Average YieldRent per sq. ft.

£1400 4.5-5%£55Grade B

£62.5Prime

£65-95Exceptional*

Union Street Partners, who provide a specific and bespoke real estate service for the area along the south bank of the River Thames, describe the area as having “undergone an unprecedented transformation, now firmly established as one of central London’s most important business districts.”

Why businesses are choosing Bankside

Source: Firebrand Insight

There’s a broad range of factors that are attracting businesses to Bankside, the area’s excellent transport links are the main driver.

Boodle Hatfield law firm moved its main office to Bankside in 2014 as we saw it as a fast developing area with a lot of opportunities for business and a great location for staff. It has not disappointed. We have seen more and more businesses move to the area attracted by its vibrancy and exciting mix of creativity, business, history and London life.

Stella Smith, Business Development Director, Boodle Hatfield LLP

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A better place to work

A business’ biggest asset is its people, so talent attraction and retention are a key priority for many companies. Our programme of employee services focuses on the wellbeing of those working in Bankside, and how we can enhance their time here.

During August and September 2018, over 400 on-street interviews were conducted with people working in Bankside to find out what’s important to them and what they enjoy about the neighbourhood. To achieve a diverse sample, these interviews took place at various times and locations.

97% of employees regard Bankside as a good place

to work

97%

Pages 11 - 13 Firebrand Insight, August - September 2018

What makes Bankside a good place to work

A feeling of safety

Maintaining a clean environment

The options to eat

Pubs, cafés and restaurants

The quality of open spaces

Attractive streets and buildings

Places to visit for arts and culture

The riverside location

Local history

Places to shop

Free events

Sports and fitness facilities

Volunteering in the local community

98%98%

88%85%

80%80%

71%

70%66%

61%57%

51%48%

Easy access and good transport links 95%

A sense of community 71%

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Making the most of the neighbourhood

Daily 2-3 times a week Weekly Monthly Less often

We asked people working in Bankside how they would describe the area. The 50 most used words are below.

The buzz about Bankside

The Bankside workforce shop and eat locally, supporting the local economy. Over half of people working in the area spend time here at the weekend at least once a month.

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Who works in Bankside?

64% aged under 3551% in 2016

46% Male : 54% Female 55% : 45% in 2016

Respondents were profiled by their postcodes by using CACI’s Acorn system, which segments postcodes and neighbourhoods. By analysing significant social factors and population behaviour, it provides precise information and in-depth understanding of the different types of people.

23%Highly educated younger professionals moving up thecareer ladder. Mostly prosperous, cosmopolitan outlook.

City Sophisticates

17%Younger people, singles, couples and families with young children. Higher educational qualifications than average, and confident users of new technology.

Career Climbers

Employee lifestyle profiles

A well-connected neighbourhood

The Better Bankside area has excellent public transport accessibility and is well connected to other parts of London and beyond. Since its inception, the focus of our Sustainable Travel theme group has been influencing employee commuting behaviour towards sustainable options and co-investing with public bodies to improve local mobility. Every four years we ask people in the area about their travel habits in order to inform our work.

Page 14 – 16 Better Bankside online survey14

18%

14%

13%

13%

12%

12%

8%

5%4%

New challenges to streets and the public realm The city faces new challenges in the form of poor air quality and disruptive technologies which have created an on-demand economy (e.g. app-based taxi and delivery services, and the growth of online retail orders). This has put increasing pressure on our streets and spaces. We asked employees about the priorities for the walking environment, and how they would like to see it improved.

Less motor traffic

Pedestrian priority at signalled crossings (always on ‘green man’)

Wider pavement

Information about low pollution walking routes

Better urban realm

Safe crossing facilities en route

Improved lighting / security en route to work

Guided commuter walk (e.g. to and from main stations, quiet walking route)

Printed information on walking routes

Lockers and storage facilities at work

1%

Bankside commutersBankside is highly connected by public transport, with some of the UK’s busiest stations in the area. London Bridge, Waterloo, and Blackfriars stations see 153 million people go through their barriers every year.

Our travel survey, carried out in 2018, acts as a snapshot of how employees get to work. The results showed significant growth in walking and cycling as the main mode of transport.

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17% of employees cycle to work. This compares well to the national average of 4%. The arrival of Cycle Superhighways and Quietways, alongside additional cycle parking provided in Bankside have helped drive this growth.

17% 12.6% 10% 4%

Bankside employees cycling to work in 2018

2015 2011 National average

+4.4%

2011 2015 2018

An ambition for better airIn 2016, 79% of businesses told us we should prioritise air quality, increasing to 85% in 2018. Working on pioneering research projects with King's College London we found that personal exposure to pollutants can be reduced by up to 25% by taking a quieter walking route.

20-25%reduction in pollutants by taking a quieter walking route

30-60%of all deliveries to workplaces are personal packages

27,755daily trips made in the congestion zone each weekday to deliver personal packages

26%of employees actively seek low exposure walking routes

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Personal items are believed to make up 30-60% of all deliveries to office-basedworkplaces. We asked travel survey respondents whether they would considerusing alternative collection points (for example, those closer to home, if they live outside the Bankside area) for receiving personal deliveries.

67%

7%

26%

Would consider reducing the impact of personal deliveries

Would like to, but don’t know how

Would not

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Better streets and spaces

A responsive cleansing team keeps Bankside’s streets and spaces clean and tidy, whilst the Better Bankside wardens and dedicated police officers keep our neighbourhood safe. The results of the recent surveys show the value of these services to those who are in Bankside.

87% OF BUSINESS LEADERS TOLD US INVESTMENT INTO PUBLIC SPACES AND URBAN GREENERY SHOULD BE A PRIORITY

Cleanliness % of approval Feeling safe % of approval

90%79% 94%84%

Decision Makers Employees Decision Makers Employees

Wardens business visits

3,582

2017 - 2018

Page 17 Firebrand Insight, August - September 2018

Bankside Urban Forest

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100m2

On-street greening created/improved

25m3

Volume of water retained within sustainable urban drainage projects

Silver AwardBritain in BloomUrban Community 2018

7Public space projects delivered

4Blooming Bankside plots adopted by local businesses

1,400m2

Public realm improved£785,000External investment for public space projects

First BID to secure Green Flag Award2018

Gold AwardLondon in Bloom Urban Community 2018

300m2

Impermeable surfaces replaced by porous paving, reducing the risk of flooding from surface water

100 hoursDonated by Bankside workers in our volunteer gardening sessions

Bankside Urban Forest delivers imaginative and high-quality improvements to the network of streets and spaces in the neighbourhood. This is just a snapshot of our work.

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A great destination

Bankside is one of London’s most creative and cultural neighbourhoods, home to the globally renowned Tate Modern, Shakespeare’s Globe and Borough Market. Bankside – deriving from the 16th century ‘Banksyde’ – is an area evolving from a rich and diverse heritage. Visitors play a vital part in the Bankside economy; understanding who they are and why they visit is essential to inform our destination marketing work.

What’s bringing people to Bankside

Pages 19 - 20 Independent research by The Audience Agency, March - July 2016

Origins Overseas 33%, 45% from the UK (27% of these from another part of London)

Age 69% visitors under 45, mainly in the 24 – 34 category

Under 45 Over 45

Cultural profiles

Who’s visiting Bankside?

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A consumer segmentation tool, Audience Finder, was used to map our data, providing valuable insights into the Bankside visitor profile

Group typeIndependent adults make up a large proportion of the Bankside visitor population. Only 13% of visitors interviewed in these periods came with children

More culturally diverse than many groups, urban but economically challenged, they are most likely to engage with culture in their community and outside the mainstream.

19%Kaleidoscope Creativity

Prosperous, liberal urbanites, Metroculturals choose a city lifestyle for the broad cultural opportunity it affords. They are interested in a very wide spectrum of activity.

34%Metroculturals

Bankside South Bank

Figures based on peak periods

Day visits to London reduced by 3% year-on-year in 2017, and the first half of 2018 showed a continued decline.

London & Partners

21Footfall figures by ShopperTrak; hotel data by STR Global

New hotel openings in 2017-18 amounted to a 15% rise in the number of hotel rooms. This is projected to increase by a further 30% with the opening of The Hoxton on Blackfriars Road (192 bedrooms) and the 18 Blackfriars development (550 bedrooms).

Bankside's hospitality sector

Restaurant covers

Hotel rooms

10,000 2,640

We’ve seen an increase of restaurants opening in Bankside, bucking the London-wide trend for restaurant closures.Source: Sullivan, C. (2018). “London restaurant closures at highest level in decades.” Financial Times

Average RateHotel Occupancy

90.5%Bankside

83.5%London

£130Bankside

£149London

Bankside hotels enjoyed very positive performance in 2018. New hotels continue to be developed in Bankside, including the new Hoxton Southwark, due to open in March 2019. This continued development underlines Bankside’s attractiveness from a hotel development perspective.

Thomas Emanuel, Director of Business Development, STR

FootfallCameras in Bankside monitor footfall throughout the area, reporting weekly figures. Ask us if you'd like to receive these regular updates.

27,436,8382017

29,190,6072018

IN 2018, BANKSIDE’S MAJOR ATTRACTIONS: TATE MODERN, SHAKESPEARE’S GLOBE AND BOROUGH MARKET COLLECTIVELY WELCOMED OVER 21 MILLION VISITORS.

Bankside is one of London’s leading cultural quarters, evolving from a rich, diverse and authentic heritage. It is home to some of London’s most visited and renowned cultural institutions. Bankside has been a place where people have come to experience culture for over 1000 years.

Cultural

Forming the Thames waterfront, Bankside housed the industries that oiled the wheels of global maritime trade routes launched from Bankside’s wharves and jetties. Ghost signs are a visible insight into Bankside’s commercial heritage and the architecture of the neighbourhood reveals layers of industrial history, from Victorian warehousing to The Hop Exchange, Bankside Power Station and mighty railway arches. Today, talent in Bankside powers the new economy - from digital tech makers, architects and designers, to Borough Market's artisan producers.

Industrious

London’s other side – The story of Bankside

Bankside is a thriving destination. We intend to ensure that anyone who wants to work, explore, live, learn about, and visit Bankside is clear why it’s different and attractive. These core themes express the essence of Bankside.

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Bankside has always been a place of refuge and sanctuary for outsiders and free thinkers. Once London’s rowdy pleasure quarter, located outside the city walls and its jurisdictions, it was home to stews, gambling dens, taverns and theatres. It attracted outcasts, dissenters and misfits. The medieval network of streets encourages exploration and discovery and it has an ‘otherness’ that inspires creative thinking to this day.

Chaotic

Five of London’s bridges lead to Bankside including London’s earliest and most recent. Railways viaducts connect major transport hubs - London Bridge, Blackfriars, Southwark and Borough. Bankside's arteries make it a place of exchange of ideas, skills and talent. The railway viaducts form a spine running through Bankside into neighbouring areas, and are the core of the Low Line project. It is a truly mixed neighbourhood of visitors, residents and businesses.

Connected

Bankside has changed how the world imagines

Bankside has a bold and independent spirit shaped by its rebellious past

Bankside is a long-standing home of essential industry

Bankside is an area of exchange, connecting places and people in a central neighbourhood

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betterbankside.co.uk@betterbanksideinfo@betterbankside.co.uk020 7928 3998

Get involvedOver 70 businesses are involved in our governance structure through our board of directors and theme groups, that's around 10% of our membership working closely with us to shape our programme.

Have your say on what happens in our vibrant neighbourhood. From corporate responsibility to place marketing, business and social events, and sustainable travel – your expertise and input is invaluable in helping to design our projects and services.

We also recognise our champions through the ambassador scheme. Our ambassadors are our day-to-day contacts within Bankside businesses, facilitating the conversation about our services, events, and what’s happening in the neighbourhood to their colleagues. We reward their efforts with perks and exclusive events, and value their insight and feedback on how to improve.

Become a Bankside influencer by getting involved with our governance. Talk to us about joining one of our eight theme groups or becoming a Better Bankside ambassador.