The plans, which will be consulted on later this year having first been unveiled by Khan back in February, would see the pedestrianisation of the main shopping thoroughfare between Orchard Street and Oxford Circus up to Great Portland Street and enable new leisure offers such as al fresco dining and outdoor events.
Oxford Street provides an estimated annual contribution of £25bn to London’s economy, but has faced significant challenges over the last several years as a result of the pandemic and the growth of online shopping and retail parks.
Following extensive public consultation, attracting 6642 responses, a new report published today shows Londoners and businesses overwhelmingly back the Mayor’s proposals to breathe new life into the area.
Almost seven in 10 expressed support for the proposed interventions to regenerate Oxford Street, while two-thirds are supportive of the pedestrianisation idea specifically.
This echoes recent polling that found almost two-thirds (63%) of Londoners were in favour of pedestrianising Oxford Street – rising to more like three-quarters (72%) among those who had specifically visited the area within 12 months.
“Oxford Street has suffered over many years so urgent action is needed to give our nation’s high street a new lease of life,” Khan says.
“It’s clear that the vast majority of Londoners and major businesses back our exciting plans, so I’m pleased to confirm that we will now be moving ahead as quickly as possible.
“We want to rejuvenate Oxford Street; establish it as a global leader for shopping, leisure and outdoor events with a world-class, accessible, pedestrianised avenue. This will help to attract more international visitors, and act as a magnet for new investment and job creation, driving growth and economic prosperity for decades to come.
“Our plans are not only about creating a beautiful public space where people can shop, eat and connect – but transforming Oxford Street into a place Londoners and the whole of the country can be proud of, as we continue to build a better London for everyone.”
The Mayor will also progress with steps to establish a Mayoral Development Corporation (MDC) dedicated to regenerating the area with detailed traffic and highway proposals to be created in the coming months.
“Oxford Street’s potential to establish itself as a world-leading destination for hospitality, leisure and tourism is enormous, and the Mayor’s plans for regeneration can make it a reality,” says Kate Nicholls, chair of UKHospitality.
“I’m delighted the project will be going ahead, with the support of Londoners, businesses and the public.
“Hospitality is a key part of creating successful high streets and places where people want to live, work, invest and visit across the UK.
“Putting us at the heart of one of the world’s most famous locations will be a real boost for London and its millions of annual visitors. I’m looking forward to working with the Mayor on this exciting redevelopment.”
Subject to consideration by the London Assembly, the Mayor will work with the Government to make the necessary legislation for the MDC to be established by 1 January 2026.