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How the redeveloped area of Oxford Street, Regent Street and New Bond Street would look
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£40m project to light up Oxford Street unveiled
Plans to create leading shopping destination in heart of West End
THE council yesterday (Thursday) unveiled bold new plans to transform Oxford Street into the world’s leading shopping destination.
The £40 million project includes the installation of an eye-catching light sculpture suspended 30 feet in the air.
The project aims to create a boulevard feel to Oxford and Regent Street and New Bond Street, with al fresco dining and pedestrianised areas for public art and performances.
The Oxford, Bond and Regent Street (ORB) Draft Action Plan marks the eastern end of Oxford Street as a site for development.
There are more than 100 individual actions points, but the key proposals include:
* Creation of a light sculpture that changes colours and is suspended 30 feet in the air above Oxford Circus.
* Towering masts that will run the length of the street.
* Widened pavement in Regent Street with a central island and pedestrianisation of New Bond Street.
* Oases of calm with al fresco dining in St Christopher’s Place and Heddon Street, Dean street, Great Titchfield Street and Old Cavendish Street.
* Reduction of bus traffic and moving taxi ranks.
* Assault on tourist shops in the eastern end of Oxford Street.
The plans, which will encourage millions more shoppers into the West End each year, have been welcomed by West End business leaders.
But question marks remain over how the project will be funded.
Westminster Council has already pledged £3 million, and Transport for London and NWEC have committed a further £9m.
But the City Council is calling on the government to allow it to use more of the money its collects through business rates to help provide further funding.
Sir Simon Milton, leader of Westminster City Council, noted that just one extra pence in every pound of rates collected would generate £23 million.
He said: “This is an imaginative but realistic vision for change. Given the importance of the area we need all our partners, the private sector and central government to follow through.”
Chief Executive of New West End Company Gary Reeves said: “Our contribution of £9 million will also ensure that we see delivery of some of these proposals in the very near future.”
The project is being put out to public consultation.
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