An innovative approach to bicycle storage
- Sustainability and Economics team carried out an Economic Impact and Social Value Assessment (ESVA), a new approach which translated socio-economic and community benefits of both Eco Cycle and cycling in general into monetary values.
- ESVA examined the construction and operational phase benefits associated with installation of a typical Eco Cycle Storage System.
- An innovative, automated cycle storage solution for up to 204 bikes.
- Benefits of Eco Cycle include: minimising the footprint of bike storage within high-value space; and reducing on-street clutter and enhancing the public domain.
- For every £1 of investment by a developer who installs an Eco Cycle Storage System, a value in the range from £1.39 to £1.72 is created for society.
- In central London associated financial savings in the region of £75,000 have been achieved while GVA gain per annum, due to the space saving, would be nearly £90,000.
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