News

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

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.

CRAIG DAVID LIGHTS UP OXFORD STREET WITH THE VAMPS, LOUISA JOHNSON AND THE MAYOR OF LONDON SADIQ KHAN, IN PARTNERSHIP WITH THE NSPCC LITTLE STARS CAMPAIGN

Mon 7 November 2016

The countdown to Christmas has officially started, as Grammy-nominated British singer Craig David joined the Mayor of London, Sadiq Khan, to switch on the spectacular Oxford Street Christmas Lights. Marking the start of London’s festive shopping season, 1 million families came to the West End as the world famous street launched its’ first Family Festival. The event; broadcast and seen by millions around the globe was hosted by Capital – the UK’s number one hit music brand and launched in partnership with children’s charity the NSPCC.

UK superstar Craig David took to the stage for the 57th annual switch-on moment, illuminating Oxford Street in a very special event. For the first time in Oxford Street’s history, the iconic destination partnered with a charity for its world famous Christmas lights display.

New West End Company’s MAPIC Speaker Programme

Wed 2 November 2016

This year is our inaugural year taking a stand at MAPIC, the premier event for the international retail real estate market. To mark this occasion, we are hosting an unparalleled speaker programme on our stand in Lerin’s Hall R8.C19. The programme, framed around our Property Owner BID, highlights the dynamic facets that make London’s West End the destination Where Investment Meets World Class Retail. Save the dates & times to visit the stand, and be sure to follow us on Twitter & Periscope at @newwestend for live-streaming/tweeting and use the hashtag #WorldClassRetail. We look forward to seeing you in two weeks at MAPIC!

New West End Company's MAPIC Speaker Programme

WEST END FESTIVE SALES SET TO LIGHT UP A GLOOMY YEAR

Wed 2 November 2016

  • Till receipts in the West End predicted to reach £2.34billion this Christmas
  • International shoppers to continue to cash in on the value of sterling
  • Domestic shoppers tentatively return to high streets but fashion sales stay online

London, 2 November, 2016: West End retailers are anticipating a very merry Christmas to add sparkle to an otherwise challenging year. Till receipts for the Christmas trading period, which kick starts this Sunday when the Christmas lights are switched on across the West End – are forecast to rise 1.6% year-on-year to £2.34billion.

The figures from New West End Company’s annual Christmas tracker report predict average takings of £51.1million per day or a whopping £5.1million spend per hour during the peak Christmas period. (Click read more button below to read whole press release)

READ the West End Christmas Tracker Report

Unprecedented London alliance formed to push for business rates reform to protect the capital

Thu 27 October 2016

• A group of 43 organisations, including London business groups, representing over 16,000 businesses, and London government call for business rates reform
• The Mayor of London, London Councils, London First, London Chamber and New West End Company join together to oppose proposals on transitional relief

London, 27 October 2016: London’s largest business organisations have come together with The Mayor to form a united and unprecedented opposition to the current system of business rates.

Responding to the Government’s consultation on transitional relief, an alliance including The Mayor of London, London Councils, London First, London Chamber of Commerce, Federation of Small Businesses London and New West End Company, with 37 additional groups including 32 London BIDS, has called for a full review of the effectiveness of the rates system, together with more realistic of the transitional relief proposals and mitigating proposals that will enable London businesses to generate the income needed to meet the rise. (Click read more button below to read whole press release)

CLICK HERE to read letter to Secretary of State

CLICK HERE to read letter to Evening Standard from our Chairman