New West End Company

As announced this morning (Tuesday 17 September), Mayor Sadiq Khan has revealed plans to transform and revitalise Oxford Street through a new Mayoral Development Area that will encompass Oxford Street and the surrounding streets.

This proposal is backed by the new Labour Government and, through the creation of a Mayoral Development Corporation (MDC), would give the Mayor planning powers to deliver a world-leading public realm scheme that works for residents, visitors and businesses.

This is an acknowledgement, at the highest levels, of the critical role that Oxford Street – and the wider West End – plays in the success of the U.K.’s tourism, retail, leisure and hospitality offering, as well as the economic value of the ‘nation’s high street’ to the Exchequer, with tax revenues reinvested across the country.

The Mayor will collaborate closely with New West End Company, Westminster City Council, and local stakeholders to realise this vision.

Speaking about the MDC, New West End Company Chief Executive, Dee Corsi, said: 

“New West End Company has long championed the transformation of Oxford Street, navigating various challenges and proposals over the years. We’re encouraged by the renewed commitment to bring this vision to life and support the government’s drive for economic growth. Given the history of past schemes, it is essential that we move swiftly to deliver this project. 

“We welcome the creation of the Mayoral Development Corporation (MDC) for Oxford Street. This initiative marks a significant step forward in transforming one of London’s most iconic streets and highlights its crucial role in the city’s growth.

“The West End, a key driver of the UK’s economy, generates 3% of the nation’s economic output and is central to our city’s retail, leisure, and hospitality sectors. The Oxford Street MDC represents a major leap in unlocking its full potential. This revitalisation will not only enhance Oxford Street but also bring economic benefits to all Londoners and the wider UK economy.

“We are pleased that all partners are taking a long-term, strategic view of the issues at hand, ensuring a comprehensive approach to Oxford Street’s future, of course the devil will be in the detail. Representing over 600 West End businesses, New West End Company looks forward to working closely with the Mayor, the Government, and Westminster City Council to ensure the MDC’s goals are achieved. We’re committed to making this vision a reality and seizing the opportunity to elevate Oxford Street as a top global destination."

You can read more about the plans here.