Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
The mayor of London, Sadiq Khan has again set out proposals to transform Oxford Street, including turning the road into a traffic-free pedestrianised avenue, in a bid to make it the “leading retail destination in the world.”
The mayor has previously tried to implement major changes to Oxford Street, but was blocked from implementing his plans. Now, with the new government taking a partnership approach to working with cities and mayors, there is an agreement to work together with a view to unlocking Oxford Street’s “full potential for the benefit of London and other parts of the UK”.
According to the mayor, the proposals would deliver a “much-improved experience” for shoppers, residents, workers and tourists visiting Oxford Street and the surrounding area.
Supported by ministers, the mayor has confirmed that he intends to designate a Mayoral Development Area to bring forward the regeneration of Oxford Street.
As part of this, the mayor is proposing that a Mayoral Development Corporation (MDC) is established, which will have planning powers to provide the framework for delivery of a “world-leading” scheme that works for residents, visitors and businesses.
Oxford Street welcomes more than 500,000 visitors every day and generates approximately 5% of the capital’s economic output (GVA), the equivalent of £22.75bn (in 2019). It is home to numerous flagship stores, including Selfridges and John Lewis, as well as being a key commercial centre.
Although Oxford Street remains a vital part of the UK’s tourism, leisure and retail offer, generating revenue for the exchequer that is reinvested across the country, the mayor said it is in need of major regeneration.
The mayor stated that competition from online retailers and out-of-town shopping centres, the closure of flagship department stores, and the prevalence of ‘candy stores’ have put significant strain on Oxford Street’s attractiveness, while tourism numbers have not fully recovered since the pandemic.
He is determined to re-invent and transform Oxford Street, working with businesses and Westminster City Council to create “one of the finest public spaces in the world and making the area substantially greener, cleaner and safer for everyone”.
Khan said: “Oxford Street was once the jewel in the crown of Britain’s retail sector, but there’s no doubt that it has suffered hugely over the last decade. Urgent action is needed to give the nation’s most famous high street a new lease of life.
“I am excited to be working with the new government, and local retailers and businesses, on these plans – that will help to restore this famous part of the capital to its former glory, while creating new jobs and economic prosperity for the capital and the country. I want Oxford Street to once again become the leading retail destination in the world.”
Angela Rayner, deputy prime minister, added: “Oxford Street is a world-renowned shopping destination and we want it to stay that way. By working with the mayor and local leaders, we can ensure it gets the boost it needs. This plan to revitalise Oxford Street will drive growth by creating new jobs, generating economic activity, and giving a much-needed boost to London’s night-time economy.”
