New West End Company CEO Jace Tyrrell is set to step down from his role this October, after six years at the head of the group, as he returns to his native Australia to lead its first Business Improvement District – The New Sydney Waterfront Company.
According to the group, he will aim to “replicate his successes” in the West End, which has continued to recover since the pandemic, in a pilot spearheaded by the New South Wales Government and the City of Sydney.
The announcement marks the end of his six-year tenure as CEO of New West End Company, a period that saw the British BID record the most successful ballot results of any BID globally, the completion of multi-million-pound upgrades of Bond Street and Hanover and the securing of a £5bn injection of capital in the next few years.
Tyrrell is still calling on the UK Government to act and make legislative changes that will benefit West End customers and businesses. He said he identifies the need to overhaul the business rates system, simplify the Electronic Visa Waiver Scheme for visitors from the Gulf States, re-examine the decision to abolish tax free shopping in the UK and extend Sunday trading hours in London’s two International Centres.
He will continue to campaign on these priorities with chairman Sir Peter Rogers and Dee Corsi, currently chief operating officer who will lead the New West End Company from October this year.
Tyrrell said: “After six years at the helm, it is time to turn to a new chapter with a unique and compelling offer to head back to Australia in October this year. Sydney’s Western Harbour is one of Australia’s most loved areas, with a huge scope to re-assert itself as a leading global retail, leisure, commercial and cultural powerhouse.
“Coupled with this excitement of returning down under are very fond memories and great successes achieved with the Board and team at New West End Company. London’s West End has evolved in recent years – despite the upheaval of a pandemic – and is set to transform into a district filled with innovative new brands, experiences and streetscape that really cater to the modern local and global customer.”
He added: “But, if the West End is to achieve this, the Government must act now and make the necessary changes to facilitate our recovery and the one in eight London jobs that our area supports. Sunday trading and visa reform require a keen ear of the Government to the needs of our valued domestic and international customers – those that want to shop longer over the weekend, with an easier route to enter British shores.
“With the Queen’s speech ahead of us, it really is time for the Government to meet businesses and employees straining to improve London’s West End half-way and give them a competitive environment to truly succeed.”
Sir Peter Rogers, Chairman of New West End Company: “For the last six years Jace has been unwavering in his commitment to the West End, standing up not only for the needs of our district, but also the wider British retail and leisure sectors. He has led the West End to new heights, spearheading major transformational schemes, and welcoming new brands and experiences to the area. He leaves in October and he will leave a great team to carry on what he has started.”
Geoff Parmenter, Chairman of New Sydney Waterfront Company: “Having been enabled by the Premier of New Sales Wales vision for the Western Harbour with the support of the City of Sydney, Australia’s first BID will now become a reality with the commitment of a set of founding business members and the appointment of Jace Tyrrell, our inaugural Chief Executive to take the helm. We can’t wait to welcome Jace back home and bring his expertise in the world’s largest and most successful BID in London’s West End to our New Sydney Waterfront precinct.”
Alongside his position at The New Sydney Waterfront Business Improvement District, Tyrrell will also be launching a new consultancy – City-Squared Consulting. The new venture will bring together over two decades of Tyrrell’s expertise in urban regeneration, destination development and campaigning in the UK to the Asia-Pacific region.