'Urgent action' proposed to transform Oxford Street

The Mayor of London, Sadiq Khan, has set out new proposals to transform Oxford Street, including turning the road into a traffic-free pedestrianised avenue.

The plans backed by the new government would ensure Oxford Street becomes a driver of London’s economic prosperity for decades to come. 

Khan said he wants Oxford Street to “once again become the leading retail destination in the world.”

He 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.”

“The transformation of Oxford Street will be a leading example of how working together – City Hall and the new government – we can build a better London for everyone.”

The government has taken a partnership approach to working with cities and Mayors, there is 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. 

The proposals would deliver a much-improved experience for shoppers, residents, workers and tourists visiting Oxford Street and the surrounding area, returning this part of the capital to its former glory. 

Supported by ministers, the Mayor said 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 sees more than 500,000 visitors every day and generates approximately five per cent of the capital’s economic output (GVA), the equivalent of £22.75 billion (in 2019).

Angela Rayner, deputy prime minister said: “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.”