Tower Hamlets’ renowned Petticoat Lane market area is to receive more than £600,000 worth of investment after being named a High Street Heritage Action Zone.
Working with Historic England, the funding is aimed at restoring shop fronts in Wentworth Street and the Victorian public toilets in Leyden Street.
The £95 million government-funded programme is aimed at helping businesses recover from declining footfall and the impact of the Covid-19 pandemic.
John Biggs, Mayor of Tower Hamlets, said: “We’re proud to host some of London’s oldest street markets and this funding for Petticoat Lane will be vital in boosting trade for the area.
“Since the outbreak of Covid-19, businesses across the borough are facing some of the toughest trading conditions in decades.
“We’ve supported small businesses with rate relief and market traders with more than £500,000 of emergency grants and we will continue to provide whatever assistance we can.”
The area around Wentworth Street is better known as Petticoat Lane from its association with the rag trade and long-standing street markets.
The Wentworth Street Conservation Area is currently on the Heritage at Risk Register due to long-standing issues with poorly maintained properties.
Motin Uz-Zaman, Cabinet Member for Work and Economic Growth, said: “We want to support property owners to restore buildings in such a historic part of our borough. This funding will allow us to do this.
“We hope that restoring the architecture in this area will boost investment and drive footfall to the street markets which, despite remaining open, have experienced a year of unprecedented challenge as a result of the pandemic.”
High Streets Heritage Action Zones are funded by the Department for Digital, Culture Media and Sport’s Heritage High Street Fund and the Ministry of Housing, Communities and Local Government’s Future High Street Fund.
For more information on Tower Hamlets markets, visit www.towerhamlets.gov.uk/markets
Posted on Wednesday 30th September 2020