As part of a major regeneration push, London Mayor Sadiq Khan has announced plans to pedestrianise Oxford Street, one of the world’s most famous shopping destinations. The move aims to revitalise the iconic thoroughfare, which has struggled in recent years due to the rise of online shopping, the closure of key department stores, and the lingering effects of the pandemic.
“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 past decade,” said Khan. “Urgent action is needed to give the nation’s most famous high street a new lease of life,” he added.
The proposal would see Oxford Street become a pedestrian-friendly zone, a long-held ambition of the mayor, though previous attempts have met opposition from businesses and local authorities. The plan’s prospects have been buoyed by the recent election of a Labour government, with Deputy Prime Minister Angela Rayner backing the project, stating it would “create new jobs, generate economic activity, and give a boost to London’s night-time economy.”
The scheme has, however, sparked concerns from Westminster City Council, which oversees the area. Stuart Love, the council’s chief executive, expressed reservations, noting “practical challenges” related to traffic, transport disruption, and access for disabled people. Despite learning of Khan’s proposal only recently, Love said the council would “work constructively” with the mayor.
The council has already consulted residents on a separate £90 million improvement plan that maintains two-way traffic but includes broader pavements. With the regeneration of Oxford Street long overdue, John Lewis, one of the few major retailers still standing on the street, voiced support for Khan’s proposal.
Oxford Street’s vacancy rate, which peaked at 13% in mid-2022, has since dropped to 4%, but experts warn more is needed. Marie Hickey, a director at property firm Savills, said, “Footfall and spending are improving, but there is more that can be done to strengthen [Oxford Street’s] position on the world stage… especially when we compare the street to its competitors.”
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