New West End Company

Whilst growth remains at the centre of the Government’s agenda, for it to take hold, it must be underpinned by policies that enable businesses to succeed – particularly those on flagship high streets like the West End, which drive jobs, investment, and economic activity.

The Treasury’s proposed increase to the business rates multiplier for properties with a rateable value of over £500,000 would be a huge blow to businesses in flagship destinations – who are already burdened with increases in National Insurance and National Living wage from tomorrow. Research from High Streets UK – the nationwide partnership co-founded by New West End Company – shows that businesses in prime retail locations, like the West End, are 5 times more likely to be impacted than those elsewhere. The analysis also shows that, if implemented, this policy could put 600 retail units in flagship locations from Liverpool to London at risk, leading to 5,500 job losses, and driving up prices for consumers

These findings shaped discussions at High Streets UK’s inaugural forum in Liverpool earlier this month, where we met with businesses from Edinburgh to Bristol to explore solutions. High Streets UK’s policy recommendations have been shared in an open letter to the Chancellor and submitted as evidence to the Treasury. In addition, New West End Company will be submitting a formal response to the Business Rates consultation, outlining the specific impact on the West End and setting out our key asks of government – including an exemption for retail, hospitality, and leisure businesses.

Meanwhile, we continue to participate in key conversations about the Mayor of London’s proposal to establish a Mayoral Development Corporation (MDC) for Oxford Street. We were pleased to host a breakfast seminar on 24 March, where we were joined by the Deputy Mayor of London for Business and Growth, Howard Dawber and London's Walking & Cycling Commisisoner, Dr. Will Norman, who are spearheading the project at Greater London Authority. Both also attended our Board Meeting a few days later, alongside the Mayor, Sir Sadiq Khan, to give an update on current plans to revitalise the street.

Your views on the proposals will help shape New West End Company’s formal response to the consultation – if you haven’t yet shared your thoughts, I encourage you to do so through our short survey.

Oxford Street also continues to evolve with new investment and retail openings. On 1 May, IKEA Oxford Street will officially open its doors following an extensive environmental renovation of the Grade II listed former Topshop building. To its right, Space NK is set to unveil its biggest flagship yet, while to the left, Nike will temporarily occupy another unit at Oxford Circus, as it invests in updating its iconic NikeTown store.

Our Security & Operations team remains focused on promoting a safe trading environment for our members. Just this week, it successfully detained a prolific offender on Regent Street – responsible for around £30,000 worth of stock losses – recovering stolen goods and working with the police to secure an arrest. This is the direct impact we are delivering for West End businesses.

In addition, we are currently in the process of becoming a Business Crime Reduction Partnership (BCRP). This decision is driven by a commitment to greater accountability, enhanced services, and a stronger focus on tackling prolific offenders in the district. We have always worked closely with the police, and this new approach will allow us to further tailor security operations to the specific needs of West End businesses. To this end, we encourage members to share intelligence, relay any suspicious activity and continue to follow their own security measures.

As we enter the final year of our current term and prepare for our BID renewal later this year, the team at New West End Company and I are focused on strengthening our partnership with members and supporting the long-term success of the West End. Our Members Survey has given us further insights into your business priorities, which are being reflected in our next 5-year business plan and I look forward to sharing this with you formally in the coming months.

SECURITY & OPERATIONS

On 5 March, New West End Company shared an in-house report with members outlining common shoplifting tactics used across retail sites. Developed by our Security & Operations team, the document is designed to help store workers and front-line colleagues identify suspicious activity linked to various shoplifting methods.

We continue to encourage all retailers to follow their security protocols and report any suspected incidents to the Metropolitan Police Service, as well as to our on-street security team. If you would like to receive a copy of the report, please contact our Head of Security & Operations at jamie.conroy@newwestend.com.

We were pleased to host members for an interactive Raising Awareness on Gangs & Exploitation (RAGE) training session, designed in partnership with Westminster City Council to enhance understanding and awareness of criminal groups and gangs operating in and around the West End. The event, which took place on 18 March at The Photographer’s Gallery, covered a range of topics, including the definition of exploitation and grooming, the importance of reporting, as well as typical features of criminal gangs. 

This month saw the launch of the first ever National Business Crime Reduction Partnerships (BCRP) Awareness Week – a week dedicated to highlighting the work done by BCRPs across the country. 

There are several hundred BCRPs in the UK, many of which are incorporated within local Business Improvement Districts. Their goal is to deliver a holistic approach to crime prevention, engaging relevant agencies and stakeholders to address issues affecting local businesses and their wider communities. 

From 17 March to 23 March, our Security & Operations team worked closely with the West End Town Centre policing team to provide additional high visibility patrols, identify repeat offenders and coordinate action against them. The initiative resulted in the detention of a prolific offender in the district.

INNOVATION & INSIGHTS

In March, our Insights team conducted an in-depth analysis of the Government’s proposed changes to the business rates system, focusing on the impact on flagship high streets from Cardiff to London. 

Produced as part of our work under High Streets UK – the pro-growth, nationwide partnership of business representatives New West End Company co-founded – the research found that, should the reforms go ahead, it would place a disproportionate rates burden on businesses operating in flagship high street locations.  

Covered by The Times, City AM, Retail Week, The Grocer and others, the findings challenge the Government’s claim that the proposals aim to target online giants. In fact, properties subject to the new higher ‘super tax’ multiplier are 5.1x more likely to be on flagship high streets than anywhere else in the country.

Our own research, released earlier this year, found that in the West End alone, the rates bill could rise by up to £44.5m – risking store closures and job losses. We have conducted additional analysis on the impact on our district to submit as evidence to the Treasury, in response to the Government’s Discussion Paper on Business Rates. We will share the results in due course. 

CAMPAIGNING AND ADVOCACY

On 26 March, the Chancellor of the Exchequer presented her Spring Statement to Parliament. While New West End Company welcomes Government action to support growth through initiatives like the recent Planning and Infrastructure Bill, for businesses on flagship high streets like those we represent in the West End, there’s an urgent need for more holistic policies to reduce the burdens they face. Read our Chief Executive Dee Corsi’s statement in response to the announcements here.

Earlier this month, Dee Corsi, Chief Executive, Paddy Gamble, Director of Insights & Strategy, Nathan Parsad-Wyatt, Director of Communications & Campaigns, and Lorna Keegan, Head of Corporate Communications and External Affairs at New West End Company, attended High Streets UK’s inaugural forum in Liverpool. 

Hosted by fellow founding member Liverpool BID Company, the group’s first meeting focused on the Government’s Business Rates Discussion Paper. The session provided a crucial platform to discuss the proposed changes by Labour and put forward policy recommendations which will support growth and protect flagship high streets. 

We were pleased to welcome the Mayor of London, Sir Sadiq Khan, alongside the Deputy Mayor of London for Business and Growth, Howard Dawber, and London's Walking and Cycling Commissioner, Dr. Will Norman, at our Board Meeting on 27 March, for an update on the Mayor's ambition to create a Mayoral Development Corporation (MDC) for Oxford Street.

The launch of a public consultation on the Mayor plans to revitalise Oxford Street marks an important milestone in its revitalisation, and we were pleased to have our Chief Executive, Dee Corsi, advocating for our members on ITV News.

We are committed to collaborating with the Greater London Authority, Westminster City Council and the wider West End community to ensure the proposals benefit all those who work, live and invest here. To this end, we’ve launched a member survey to gauge your feedback on the Mayor’s proposals. Help us understand your views by filling out this form. 

Pedicabs have become a familiar feature of the West End, but the lack of regulation has led to growing concerns from businesses and the public – including issues around congestion, excessive fares, and anti-social behaviour such as inappropriate parking and loud music.

On behalf of our members, we are calling on Transport for London (TfL) for stronger measures in key areas to protect our district from the negative impact these issues cause on the reputation of the West End – both as a tourist destination, and as a destination for investment. Read our full response to TfL’s public consultation on The Pedicabs (London) Act here.

EVENTS

On 24 March, New West End Company, in partnership with Westminster Property Association, hosted a breakfast seminar exploring the Greater London Authority’s (GLA) plans to create a Mayoral Development Corporation (MDC) for Oxford Street.

The event featured a keynote speech by the Deputy Mayor of Business and Growth, Howard Dawber, followed by a short presentation delivered by the GLA team leading the Oxford Street public realm project, who provided a more specific update on the proposals for the MDC and the pedestrianisation, including the details of the consultation and project timelines.

The morning concluded with a panel discussion chaired by Alexander Jan, Chief Economic Advisor, London Property Alliance, between Dee Corsi, Chief Executive, New West End Company; Cllr. Geoff Barraclough, Cabinet Member for Planning and Economic Development, Westminster City Council; Jules Pipe CBE, Deputy Mayor, Planning, Regeneration and the Fire Service, Greater London Authority; Dan Nicholson, WPA Board & Executive Director, GPE; and Meave Wall, Executive Director of Stores, Selfridges.

Have your say on the Mayor’s plans by engaging in his publication consultation by 2 May here.

The normalisation of hybrid and flexible working remains the biggest cultural shift the office sector has experienced in decades. Our Director of Communications & Campaigns, Nathan Parsad-Wyatt, discussed a few of the trends we’re seeing in the West End at a panel on the future of the workplace at MIPIM. 

Also at MIPIM, Parsad-Wyatt was joined by colleague Paddy Gamble, Director of Insights & Strategy, at a roundtable discussion on the UK high streets, where they had the opportunity to introduce High Streets UK to other coalitions of business and flagship high streets representatives across the country. The session was hosted by fellow High Streets UK founding member, Liverpool BID Company, alongside Downtown In Business. 

New West End Company had the pleasure of attending Tourism Means Business, the London & Partners flagship annual conference dedicated to elevating London to the pinnacle of global destinations. 

It was a valuable opportunity to hear from Laura Citron OBE, London & Partners’ CEO, on how the agency plans to achieve inclusive, sustainable growth for London going forward. Most notably, how the experience economy plays a key role in that. We also learnt about the latest travel and visitor experience trends, which will help inform our own Destination Marketing activity.

DESTINATION MARKETING

IN THE DISTRICT

SocialBox.Biz is encouraging businesses in the West End to responsibly donate their old laptops and computers, rather than disposing of them in nature. By repurposing outdated but functional devices, the initiative provides life-changing tools for those in need – including those experiencing homelessness, as they transition into accommodation.

All devices are securely wiped before being redistributed for social impact. To contribute or schedule a collection, contact  SocialBox.Biz, or head to our Community Hub for more information.

New West End Company is excited to welcome to the district Rolex’s new flagship store on Old Bond Street. Its opening underlines the street’s appeal as a flagship luxury destination, as it continues to attract visitors from the UK and abroad. 

March also brought exciting retail news for Oxford Street. After much anticipation, IKEA’s highly awaited West End store will open its doors on 1 May. Next door, Space NK is set to unveil its second flagship in the district. Puma is also on the move, relocating from Carnaby Street to Oxford Street, as reported by Drapers.