London mayor Sadiq Khan is moving ahead with plans to pedestrianise one of the capital’s streets renowned for department stores, flagship retail outlets, and high-street fashion brands, as well as its famous festive holidays lights, following a public consultation on its transformation.
Classed as an area of critical national economic importance, with an estimated annual contribution of £25 billion to London’s economy, according to the ONS, Oxford Street is said to have suffered in recent years, from the pandemic to the growth of online shopping and retail parks.
Now, bolstered by support from the public and businesses on his proposals – 70 per cent of 6,642 responses express their support to regenerate the capital’s iconic street – Khan has said he will push forwards ‘as quickly as possible’ with its proposed regeneration.
It follows a public consultation on the mayor’s plans for Oxford Street.
This includes pedestrianisation of the main shopping thoroughfare to improve visitor experience and better enable new leisure offers, such as al fresco dining and outdoor events.
It also found 66 per cent of the responses were in favour of pedestrianisation of the area specifically.
Major businesses in the Oxford Street area and across the capital also welcomed the plans, including Selfridges and John Lewis, to boost retail and drive growth for London and the wider UK economy.
BusinessLDN planning and development director, Sarah Bevan described it as a ‘bold vision’.
“Close consultation with landowners and businesses within and around the new MDC area over the months ahead will be a must for ensuring its long-term success,” she said.
“Clear governance structures, clarity around how developer contributions will be collected and reinvested, and careful consideration of boundary lines will also be key.”
While unsuccessful under the 2018 government, proposals for the area have consistently been touted, with deputy prime minister, Angela Rayner supportive of the plans in its current form.
“We want to see Oxford Street become the thriving place to be for tourists and Londoners alike, and that’s why we welcome the mayor of London’s bold proposals to achieve that,” she said.
“We will support the mayor in delivering this ambitious vision, which will help to breathe new life into Oxford Street – driving investment, creating new jobs for local people, and providing a boost to economic growth in the capital in line with our Plan for Change.”
Proposals for pedestrianising Orchard Street and Oxford Circus up to Great Portland Street, including detailed traffic and highway plans, will be published later this year.
In addition, City Hall aims to establish a Mayoral Development Corporation, a statutory body set up by metro mayors in England to deliver regeneration schemes, by January 2026 to drive the area’s transformation and progress the recently published London growth plan.
Was this interesting? Try: Extra £590m for Lower Thames Crossing as overhaul of public procurement rules kicks in
If you have a tip or story idea that fits with our publication, please contact danielle@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.
