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Westminster City Council has formally approved the £90m Oxford Street overhaul, granting £7.7m for the first phase of design work, with construction expected to start in the Autumn of 2024.
The news comes after WCC and the New West End Company (NWEC) formally signed a Memorandum of Understanding agreement to restore the premier shopping destination to its “former glory”.
The agreement between the council and NWEC, which represents 600 retail, restaurant, hotel, and property owners across the West End, sets out the ambition to joint-fund the Oxford Street project.
The plans cover the entire 1.8km length of Oxford Street from Marble Arch to Tottenham Court Road with key features including improved footways, greening and seating. Junctions joining the street, including at Oxford Circus, will be redesigned to create more space for pedestrians.
Meanwhile, the council will install 12 new controlled pedestrian crossings, as well as improving 45 existing crossing points and launch additional schemes that will further enhance surrounding streets and key locations.
Cllr Geoff Barraclough, cabinet member for planning and economic development at WCC, said: “After years of abandoned schemes, we are now about to finally get under way with a deliverable plan to breathe new life into Oxford Street. With the support of our partners at NWEC, we now have a coalition of the council, retailers, landowners, and others in place to develop a practical but also ambitious plan.
“The UK’s high street needs to be a place that local communities, residents, and visitors can feel pride in. The New West End Company and Westminster City Council have a long track record in successful collaboration, and together with local communities we will work to ensure it remains a prime visitor attraction.”
Dee Corsi, CEO of New West End Company, added: “We are delighted to be working with Westminster City Council and our members on the enhancement of Oxford Street’s public realm. This is just one part of a bigger, once-in-a-lifetime, opportunity to regenerate one of the world’s most iconic retail and leisure destinations.
“We are confident that the proposed plans, which have been well received by both the local community and businesses, will catapult it into the 21st-Century. Alongside ambitious mixed-use developments, experiential retail and immersive leisure offerings, an improved public realm is the missing centrepiece of the jigsaw that will ensure long term sustainable growth.”
