News

londonbus

TFL Consultation: Proposed changes to buses in Central London

Mon 23 January 2017

New West End Company represents retailers and property owners in Bond Street, Oxford Street and Regent Street.  The consultation on changes to bus routes represents a step in the right direction towards revitalising the heart of our nation’s retail capital on Oxford Street. We nonetheless hope that this consultation is just the starting point in this regard and options for further reductions of up to 100% during certain periods of the day are also brought forward in the next few months to meet the aspirations of the Mayor and shared by our members.

Our retailers and property owners strongly support the creation of vehicle free areas during specific periods within the day and evening across Oxford Street. We would also like to see the delivery of the 40% reduction outlined in this consultation to commence as soon as possible this year and believe this would also offer best value to the taxpayers and demonstrate tangible delivery of the Oxford Street transformation.

urban

North American brands fuel London’s “West End Powerhouse”, set to contribute $14bn (£11bn) to UK GDP by 2020

Mon 5 December 2016

New York, 6 December 2016 – New West End Company, the leading business voice for London’s West End retail heartland, confirmed that it is on track to be the first retail district in the world to generate $14 billion USD (£11 billion GBP) annual turnover by 2020, in New York today. The West End already generates $11.8bn USD (£8.8bn GBP) in annual sales from its six hectares – totaling more GVA (Gross Value Added) than the City of London and equal to the whole country of Wales. Much of this is attributed to the recent openings of prime North American flagship stores, and waiting for the imminent completion of the new Elizabeth line (Crossrail), which is expected to open at the end of 2018.

mipimasia

MIPIM Asia: London’s ‘West End Powerhouse’ to contribute £11bn to UK GDP by 2020 •

Tue 29 November 2016

• ASEAN countries represented 52% of all non-EU spend on Bond Street, London
• Golden Week sales were up 300% YoY in September 2016
• Chinese tourists generate around £337 million in additional revenue to the UK every year
• New West End Company is a co-founder and advocate of the UK Chinese Visa Alliance (UKCVA), the business-led group committed to easing the UK Chinese visitor visa system

London, 28 November 2016 – New West End Company confirms that London’s West End is on track to be the first retail district in the world to generate £11 billion annual turnover by 2020. London’s West End already generates £8.8bn in annual sales – in just six hectares – totaling more GVA than either The City of London or the whole of the country of Wales.

philham

New West End Company’s Response to Autumn Statement

Wed 23 November 2016

Jace Tyrrell, Chief Executive, New West End Company, said: “The Chancellor had an opportunity today to heed the calls of business and political groups, MPs and thousands of businesses throughout London to introduce a more realistic cap on business rate rises for London businesses. It will be a huge disappointment to the West End’s retailers that the reduction announced today is so insignificant that it will have little impact on the £885m additional tax that London businesses are due to find each year by April. We will, alongside numerous other organisations, continue to press for business rates reform to ensure the capital’s businesses can continue to thrive for the benefit of the entire country.

blackfriday (1)

West End retailers gear up for record-breaking £115.5m Black Friday

Wed 23 November 2016

London, 23 November, 2016: As the US-borne Black Friday phenomenon sweeps the nation once again, West End retailers are preparing for a record-breaking day with £115.5million turnover predicted in the area – a 5% uplift on last year’s performance.

The key shopping day will help contribute to a predicted £2.34bn till receipt for the West End over the six weeks running up to Christmas – which could see average takings of £51.5million per day and £5.1million spend per hour.

Watch CNBC Black Friday video interview with CEO Jace Tyrrell

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London’s ‘West End Powerhouse’ to contribute £11bn to UK GDP by 2020

Wed 16 November 2016

MAPIC – Cannes, France – New West End Company confirms that London’s West End is on track to be the first retail district in the world to generate £11bn annual turnover by 2020. London’s West End already generates £8.8bn in annual sales – in just six hectares – totaling more GVA than either The city of London or the whole of Wales.

Announcing this news at MAPIC 2016, the international retail property convention. New West End Company announced that the world leading retail destination is set to benefit from the opening of the Elizabeth line (Crossrail) at the end of 2018, which is expected to bring an additional 60m visits to the district each year, a 30% increase on teh 200m visitors currently welcomed annually.