The Mayor of London, Sadiq Khan wants to ban all traffic from part of Oxford Street to help regenerate the area.
Under the proposal, a 0.7-mile stretch would be pedestrianised between Oxford Circus and Marble Arch, with the potential for further changes towards Tottenham Court Road.
This builds on current restrictions which limit vehicle access — apart from buses and taxis — to parts of Oxford Street from 7am to 7pm, Monday to Saturday.
The plans are backed by the new UK government. Deputy Prime Minister Angela Rayner said that the pedestrianisation “will drive growth by creating new jobs, generating economic activity, and giving a much-needed boost to London’s night-time economy.”
Although Oxford Street remains one of the world’s busiest shopping areas, with more than 500,000 visitors every day, it has declined over the last decade with several major retailers closing flagship stores. Its attractiveness as a shopping destination has also been hit by competition from online retailers and out-of-town shopping centres and the prevalence of US-themed ‘candy stores’, while tourism numbers have not fully recovered since the pandemic.
Khan said that “urgent action” is needed to give the 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,” the Mayor said.
If approved, the project is expected to cost around £150m, with officials hoping that funding will come from local businesses, private funders and new revenue streams.
