London Mayor Announces Plans to Pedestrianise Oxford Street

A view of Oxford Circus, central London on Sept. 17, 2024 Aaron Chown/PA

The mayor of London has announced plans to pedestrianise London’s Oxford Street in order to re-establish it as “world’s leading retail destination.”

The proposal, backed by the government, would see traffic banned on one of the UK’s and world’s busiest shopping areas.

More than half a million people visit Oxford Street every day, making it a key commercial centre that generates approximately 5 percent of London’s economic output.

The project would see the 0.7-mile stretch between Oxford Circus and Marble Arch transformed into a pedestrian-only space.

London’s mayor Sadiq Khan believes these changes will generate economic growth and increase tax revenue, much needed by the Treasury as it faces the “£22 billion black hole” in public finances.

The scheme will boost London’s night-time economy and place it on the same level as such international destinations as Times Square in New York, the Avenue des Champs-Elysees in Paris and Las Ramblas in Barcelona, the mayor’s office said.

“I want Oxford Street to once again become the leading retail destination in the world,” Khan said.

Supported by the government, the mayor will work with the London Assembly to establish a Mayoral Development Corporation (MDC). It will have planning powers to deliver the scheme and is subject to statutory consultation by the 25-member London Assembly.

Local businesses and at least one elected representative of each London local authority that falls within the boundaries of the new area will sit on the MDC board.

Secretary of State for Housing, Communities and Local Government and Deputy Prime Minister Angela Rayner said that Khan’s plan to “revitalise Oxford Street will drive growth and create new jobs.”

Transformation

This is not Khan’s first attempt to ban traffic on Oxford Street. In 2018, his proposals have been blocked by then-Conservative run Westminster City Council.

Commenting on the latest pedestrianisation proposal, the council said on Tuesday that while it is ready to “work constructively with the Mayor and the Government,” it only learned about the scheme last Thursday.

Stuart Love, the council’s chief executive, said that for the past two years, the local authority has been developing plans to redesign Oxford Street.

“These plans are shovel ready, have had the support of retailers and the local community and were intended to deliver significant economic growth whilst also securing a successful future for our thriving neighbourhoods in the West End,” Love said.

He added that the council will need to receive details on Khan’s plan and the timeframe for its delivery.

“We will want to know how they will benefit from any proposals, particularly given the practical challenges pedestrianisation may have for the wider area. As a custodian of the West End, our role will be to ensure that local voices are heard loud and clear,” Love said.

Oxford Street is home to numerous flagship stores, including Selfridges and John Lewis.

In the past decade, it has seen the closure of several iconic brands, such as Debenhams, HMV and House of Fraser, and an increase in low quality retail stores.

In 2022, Westminster City Council seized counterfeit and illegal goods from the proliferating “American Candy Shops” on Oxford Street. This put “significant strain on Oxford Street’s attractiveness,” the mayor’s office said.

The London Chamber of Commerce and Industry (LCCI) said it supports the council’ efforts to reverse this trend.

“But we must now go further to ensure that the capital’s premier shopping street continues to flourish and brings back forward-looking brands and footfall that maintains our competitive lead on other cities,” said the LCCI chief Executive, Karim Fatehi.

Oxford Street’s transformation is expected to cost around £150 million.

According to the City Hall, a combination of local businesses, new revenue streams and private funders could foot the bill.

PA Media contributed to this report.